At LBA Haynes Strand, we’re proud to be members of the NCACPA. In North Carolina, the NCACPA is working to modernize and improve our state tax code. This year they have made a few changes and have recently announced those changes.
Tip 1: Know Which Type of License you are Seeking:
The dollar amount of the project you are bidding on will likely be the determining factor of which license type is right for your company. See the chart at the bottom of the post for the license thresholds, financial requirements and whether an audit is required to be performed by an independent CPA.
Every year LBA Haynes Strand closes it's doors for one day while the entire firm goes out into the community to help with a worthy cause. This year we were fortunate enough to team with Out of The Garden Project in Greensboro, NC. Out of The Garden Project is a food assistance program for families primarily in Guilford County. Their mission is to partner with parents, teachers, friends, and organizations to provide food and hope for every child! They supply a bag of food, including two meals, for a family of four (6-7 lbs) each Friday at 60+ schools in Guilford County, one school in Forsyth County and one school in Alamance County. Overall they reach 1,750 families each week! In addition, Out of The Garden Project provides 700 bookbags each week for the United Way of High Point.
We all know change is hard! With this in mind we wanted to provide a highlight of the recent changes made to the QuickBooks Online navigation. Even though the changes may take some getting used to, this is one of the main benefits of QuickBooks Online....you constantly have access to the most up-to-date version of QBO available! The changes include:
Join us on July 12th at 1pm for a free webinar. John Bly, Principal and CEO of LBA Haynes Strand, will deliver his signature presentation: "Cracking The Code To M&A Growth." John has delivered this speech across the globe to rave reviews and is excited to bring it to a webinar platform.
The IRS has announced the completion of its annual “Dirty Dozen” list of tax scams. The annual list highlights various schemes that taxpayers might encounter throughout the year, and especially during tax-filing season. “Taxpayers need to guard against ploys to steal their personal information, scam them out of money or talk them into engaging in questionable behavior with their taxes,” the IRS said.
The “Dirty Dozen” scams the IRS highlighted in 2017 are as follows:
With April 18th in your rear view mirror it is time to review how your tax preparation went. Was it a painless process for you? Did you have constant communication with your accountant? If you did, you should thank your accountant and start planning for next year! If not, maybe it is time to start thinking about a change. Over the years we (as a Firm) have noticed clients switching to CPA Firms of our size over the traditional sole practitioner. While you may enjoy a personal relationship or believe that it would be inconvenient to make a change to a full service CPA Firm - think again....
Estate planning is important for both the wealthy and not-so-wealthy. Even if your estate is not large enough to require payment of estate taxes at your death (for 2017, the estate tax lifetime exemption amount is $5,490,000), having the proper documents in place at your death can minimize the burden placed on your loved ones. Consider the following items when devising an estate plan:
Summary of Workshop:
This workshop will explore areas of risk for business executives and owners which will include interactive discussions about the challenges facing the trucking industry. This session will create an awareness of Risk Management that should encourage every executive to assess their own business.
Business owners looking for creative ways to grow and expand their business’s foot print sometimes turn to franchising in order to accomplish their goals. Franchising is a business concept where the original owner of a business sells territorial rights to run independently-owned versions of the existing business to other business owners known as franchisees. While the concept is not for everybody, there are certainly advantages to this business model.