Accounting Blog

NC Sales and Use Collections on Remote Sales

Posted on Wed, Aug 29, 2018
The North Carolina Department of Revenue issued directive SD-18-6 on 8/7/18 to interpret the North Carolina sales and use tax law as a result of the United States Supreme Court decision in South Dakota v Wayfair.
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Tags: accounting firm, CPA, LBA Haynes Strand, tax, North Carolina, NC CPA Firm

Tax Implications of South Dakota v. Wayfair, Inc.

Posted on Wed, Jun 27, 2018

On Thursday June 21, 2018,  the Supreme Court issued its much anticipated opinion in the landmark case of South Dakota v. Wayfair, Inc. fundamentally changing the sales tax landscape in the United States.

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Tags: CPA, Mount Airy, Greensboro, New law, business owners, Charlotte, NC, tax policy

The Tax Deadline Has Come and Gone - Are You Happy?

Posted on Mon, May 08, 2017

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....

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Tags: CPA firm, accounting firm, CPA, tax preparation

Estate Planning For The Wealthy and Not-So-Wealthy

Posted on Tue, May 02, 2017

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:

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Tags: CPA, Estate Tax, Estate planning

So You Want to Franchise Your Business?

Posted on Mon, Feb 27, 2017

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. 

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Tags: CPA, certified public accountant, LBA Haynes Strand, franchise audit, Franchisor Audit

QuickBooks Online: Is It Right For Your Business?

Posted on Fri, Jan 13, 2017

QuickBooks Online has become a widely used alternative to the traditional desktop versions of QuickBooks.  With up-to-date bank and expense information that is accessible by both the business owner and CPA (once the CPA is granted accountant access to the company) it’s easy to see the immense benefits.  Business owners have no down time as they wait for their CPA to do monthly, quarterly or yearly work and CPAs have the most recent data in order to efficiently and effectively assist their clients in day-to-day business dealings.

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Tags: CPA, LBA Haynes Strand, business owner, Quickbooks, QuickBooks Online

The Day After Tax Deadline Day.....What To Do?

Posted on Tue, Apr 19, 2016

It's the day after tax deadline day, months of hard work and stress have come to an end.  Now what should you do? We are sure that you can think of many exciting things, one of which is probably taking a break from worrying about your taxes!  Enjoy having the peace of mind that your taxes are completed and filed, and if you are receiving a refund - you can track it here.  But you can also begin thinking about how to improve the process for next year!

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Tags: CPA, tax planning, tax, Tax Season, Tax Deadline, tax refund

Julie Ayers Honored as a 2016 Most Influential Woman by The Mecklenburg Times

Posted on Wed, Mar 23, 2016

Principal Member Julie Ayers, CPA has been named as one of the honorees for The Mecklenburg Times' 2016 50 Most Influential Women.  Julie's leadership and professionalism made her stand out among scores of nominees.

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Tags: CPA, Charter School accounting, LBA Haynes Strand, tax, Julie Ayers, NAWBO, Most Influential Women, the Mecklenburg Times

Non-Profit Tax Guide: Getting To Know The Form 990

Posted on Tue, Mar 22, 2016

The Form 990 is a tax document that tax-exempt nonprofit organizations are required to file each year with the IRS. The 990 discloses potential conflicts of interest, regulatory details, governance, compensation of board members and staff, and other details that relate to financial accountability.  Filing the Form 990 correctly and in a timely matter, allows your nonprofit organization to maintain its tax exempt status.  Once the 990 is filed, it is posted for the public to see.  Websites such as allow anyone to look at any organization's Form 990, in order to get a better understanding of the structure and success of the nonprofit organization.

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Tags: accounting firm, CPA, tax services, tax preparation, LBA Haynes Strand, tax planning, tax savings, CPAs, nonprofit tips, starting a nonprofit, Form 990, Non-Profit Tax

Preparation: The Key to March Madness and Tax Season Success

Posted on Tue, Mar 15, 2016

The NCAA college basketball tournament is always an exciting and often maddening time for all of us.  While these teams are looking to play the part of bracket buster, your accountants are working hard to see to it that tax season is not a maddening time of year for you.  CPAs thrive on this time of year, and leave it all on the court..I, to make sure that their clients receive the best possible results.

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Tags: CPA firm, CPA, LBA Haynes Strand, tax planning, financial advisor, tax season success, april tax deadline, wealth management