Are you a business that uses contract labor? Has your business had to file Form 1099-NEC’s or Form 1099-MISC? Well the new tax legislation, OB3, has finally changed the reporting requirements for these two forms. There are a few tax laws that haven’t changed since I interned in College (about 100 years ago). Seriously, it has been over 30 years, which is a very long time to not make any inflation adjustments to some thresholds. The deductible amount of a gift a business can write off is...

Choosing the Right Financial Software: A CPA’s Perspective on What Really Matters

If you’ve been feeling behind on taxes this year, good news: the IRS just gave you more time. Thanks to Hurricane Helene and the federal disaster declaration covering much of North Carolina, the tax deadline has been extended to September 25, 2025 for those in affected areas.