IRS announces additional one-year delay in health coverage penalty for midsize employers
The IRS announced on Monday that it is delaying the so-called shared-responsibility requirement under Sec. 4980H for employers who have 50 to 99 full-time equivalent employees in 2014. These employers will now have until 2016 to offer health care coverage…
Read moreSeven ways for small businesses to rein in health care costs
The Journal of Accountancy has a very timely and insightful look at ways small businesses can save money on health care costs. Although delayed one year, the employer mandate in the Patient Protection and Affordable Care Act takes effect…
Read moreTax Changes May Bring Surprises for Taxpayers
Our own Jayne Frazier, CPA authored an important article on tax changes which was featured on the front page of Carolina Business Connection.
Read moreIRS Tax Season Begins Today! Yipee!
Break out the champagne and confetti: the IRS opens the 2014 filing season today, January 31, 2014. Okay, usually only tax pros like us– or those getting a decent refund– actually get that excited about the opening of tax season….
Read moreGo Panthers!
Scharf Pera & Co., PLLC celebrates FanFriday and shows their Panther Pride!
Read moreIRS Lowering Mileage Allowances For Business Travel
The IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) will decrease by $.05 to $.56 per mile for business travel starting January 1, 2014. This rate can also be used…
Read more8 Tax Breaks Set to Expire at the End of 2013
April 15 will be here sooner than you think! With a little planning before the end of the year, you could take advantage of tax breaks to help you lower your tax bill. Several tax provisions are scheduled to expire…
Read more2014 Inflation Adjustments
The IRS has released its list of inflation-adjusted tax amounts for 2014. The list includes tax rate tables for estates, trusts and various filing statuses, standard deduction amounts, personal exemption amounts, AMT exemption, and gift tax annual exclusion. Below is…
Read moreTax Planning for Grandparents Helping With College
As the holiday season is upon us, this time of the year we find ourselves answering lots of questions from grandparents who want to use holiday gifts to help pay for or contribute to their grandchildren’s college education. The queries…
Read moreNC Employers Must Collect New Form NC-4 EZs or NC-4s
The North Carolina General Assembly recently enacted House Bill 998 which will affect individual taxes beginning on or after January 1, 2014. (These changes will not affect the tax returns you file on April 15, 2014) The new law eliminates…
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