May 18, 2022 | Blog, Life, Tax Law, Taxes
Like many people, you may have dreamed of turning a hobby into a regular business. You won’t have any tax headaches if your new business is profitable. But what if the new enterprise consistently generates losses (your deductions exceed income) and you claim them on...
May 17, 2022 | Articles, Blog, Community, Tax Law, Taxes
Taking care of an elderly parent or grandparent may provide more than just personal satisfaction. You could also be eligible for tax breaks. Here’s a rundown of some of them. 1. Medical expenses. If the individual qualifies as your “medical dependent,” and you itemize...
May 2, 2022 | Blog, Articles, Small Business Taxes, Tax Law, Taxes
The IRS has begun mailing notices to businesses, financial institutions and other payers that filed certain returns with information that doesn’t match the agency’s records. These CP2100 and CP2100A notices are sent by the IRS twice a year to payers who filed...
Apr 26, 2022 | Blog, Articles, Our World
We are excited to be sponsoring the Children’s Cancer Partners of the Carolinas. Join us in Downtown Spartanburg for the 2022 Burger Cook-Off on April 30, 2022 from 1-7 p.m. *Proceeds benefit Children’s Cancer Partners of the Carolinas. More Information:...
Apr 19, 2022 | Articles, Blog, Small Business Taxes, Tax Law
Adding a new partner in a partnership has several financial and legal implications. Let’s say you and your partners are planning to admit a new partner. The new partner will acquire a one-third interest in the partnership by making a cash contribution to it. Let’s...
