The President, on December 29, 2022, signed the Consolidated Appropriations Act, 2023, which is the “omnibus spending bill” Congress needed to pass to avoid a government shutdown. That legislation also included the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act, a.k.a. the SECURE 2.0...
If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about – or one that you do know about but are ignoring. Either situation can come back to bite you. When...
The American Institute of CPAs® (AICPA®) is now accepting applications for the Private Companies Practice Section (PCPS) George Willie Ethnically Diverse Student Internship and Scholarship program. The George Willie program provides a paid internship and scholarship to ten ethnic minority accounting students who intend to pursue the CPA...
You'd be hard-pressed to find someone who actually enjoys the process of filing taxes. Having said that, it's absolutely something that you're supposed to do like clockwork every single year. Of course, there is a myriad of different reasons why you may have fallen behind. You...
All of us dream of one day being able to retire - to finally be able to relax and enjoy the lifestyle we worked so hard for. However, you'll need a significant amount of money to do it, which is where a lot of Americans...
S corporation compensation requirements are often misunderstood and abused by owner-shareholders. An S corporation is a type of business structure in which the business does not pay income tax at the corporate level and instead distributes (passes through) the income, gains, losses, and deductions to...
With tax season upon us, documents reporting income, sales and other items needed for your 2022 tax return should have arrived or will be arriving soon. Be on the lookout for them and be careful not to accidently discard any. Here are some of the...
HAPPY NEW YEAR! Here is what the firm has been up to since our last newsletter. Promotions and New Hires: Ben Buckner joined the team as a Tax Manager on October 24th. Welcome, Ben! Conferences/Seminars/Events: We attended the Center For Non-Profits Conference in Durham on November 2nd and...
What year did you join Blackman & Sloop? The first time I joined Blackman& Sloop was in 2021 as a seasonal associate. I came back as a full-time employee in 2022. Why did you choose Blackman & Sloop? I chose Blackman & Sloop because when I first worked...
When was the last time you or your attorney reviewed or updated your will or trust? If it was some time ago before the passage of substantial tax law changes over the past few years, your documents may be out of date. Among the many...
