If you have a second home in a resort area, or if you have been considering acquiring a second home or vacation home, and with summer just around the corner, you may have questions about how rental income is taxed for a part-time vacation-home rental....
With gas prices soaring it has been expected the IRS would increase the mileage rate that business owners can deduct for vehicle use instead of keeping a record of actual expenses. Sure enough, the IRS recently announced a 4-cent increase in the optional mileage rate...
Every small business - whether a respected local mom-and-pop retailer, a startup tech company, or an online venture — has accounting and bookkeeping responsibilities, including selecting the accounting method that works best for them. If you’re new to small business ownership, you might not even...
What year did you join Blackman & Sloop? 2015 Where did you go to college? NC State University (Undergraduate and Graduate) Why did you choose Blackman & Sloop? I wanted to join a smaller, close-knit firm that provided the opportunity to see a wide variety of clients and audit areas....
Cybersecurity experts estimate that there is a ransomware attack every 11 seconds. This is a big challenge for individuals, businesses, and governments alike. In ransomware attacks, cybercriminals encrypt a victim's network or data, making it inaccessible until a ransom is paid. Despite organizations' efforts to reduce...
You can do a lot of your accounting work in QuickBooks Online by generating reports. You can maintain your customer and vendor profiles. Create and send transactions like invoices and sales receipts, and record payments. Enter and pay bills. Create time records and coordinate projects....
Taking over your aging parents’ finances is not easy. But it’s something that can be handled in an organized, compassionate way. Here’s a roadmap that shows how to embrace it and do the right things for everyone involved. Start the conversation early. Right now, your parents...
For several years now, the IRS has required payments made to merchants through various marketplaces, payment processors (credit & debit cards), and third-party settlement organizations (TPSOs) to be reported on Form 1099-K. The purpose being to uncover merchants that do not report all of their...
Few things have captured the attention of so many people in recent memory like the word-based game Wordle. It's one part crossword, one part Sudoku — players have to guess the word of the day through equal parts strategy and luck. Based on their guesses,...
One of the most important things to understand about selling a business is that this is not a decision that should be made lightly. This is true both in terms of who you sell to and with regard to what will happen to your finances after...
