James “Jim” Meeks, CTLP®CEO, MTAG ServicesChair, NTLA Legislation CommitteeMember, NTLA Board On September 30, 2020, South Carolina Governor Henry McMaster signed into law House Bill 3755 with the subject title, “Auto Insurance Coverage.” Ninety-nine percent of the bill deals exclusively with auto … Continue reading →

(Part 2) This article discusses how to post Payroll Protection Program (PPP) Loan income and expenses in accounting software, if you are not opening a separate bank account for the funds. In Part I of this discussion, we focused on … Continue reading →

The case: T had several businesses for which he deducted substantial vehicle expenses against his business income. The IRS denied the deductions for lack of substantiation. Held: For the IRS. The taxpayer’s detailed spreadsheets of business use of his vehicles to support … Continue reading →

To taxpayers facing large capital gains, very few strategies exist to defer or eliminate the tax altogether. That all changed with tax reform.  The Tax Cuts and Jobs Act passed at the end of December 2017 created major changes in the tax … Continue reading →

It is provided to keep you up to date on the latest tax and accounting news. Please contact us with your questions. (910) 212-4881 We look forward to hearing from you!

Please update your records. We have moved to: 5039-4 Main St. Shallotte, NC 28470 Current Phone number: 910-212-4881 Fax: 866-929-5869 Thank you

Learn how to beat the IRS Legally The single most expensive tax mistake of all How to slash your audit risk (Fly under the IRS radar!) The self-employment tax strategy that saved Sen. John Edwards $562,000 Retirement savings strategies for … Continue reading →