News Updates | Blackman & Sloop

New Paths To Better, Faster Financial Management

November 2, 2011

As it usually does this time of year, Intuit has introduced new versions of its Pro and Premier products. QuickBooks 2012 promises to help you get better organized, save steps, and acquire more in-depth financial insights.

Accounting For Joint Activities

September 30, 2011

There are a variety of fundraising activities that nonprofit organizations employ to solicit contributions. These fundraising activities may include such things as direct mail, telephone solicitation, door-to-door canvassing, telethons, etc., and may include components that would otherwise be associated with programmatic or supporting service activities, but in fact support fundraising activities.

Health Savings Account: Will It Work For You?

September 30, 2011

Given the ever-escalating cost of providing employee health care benefits, health savings accounts (HSAs) offer a tax-favorable way to set aside funds to meet future medical needs.

Classes or Types? When To Use Them

September 28, 2011

QuickBooks’ standard reports are critical to understanding your company’s past, present, and future. But the program also offers innovative tools that can make them significantly more insightful and comprehensive.

Important New North Carolina Tax Laws

September 26, 2011

On June 15, 2011, the North Carolina General Assembly overrode the Governor’s veto and passed a new $19.7 billion budget bill. Included in the bill are two key changes to the way individuals calculate their NC personal income tax beginning in 2012.

Retirement Plans For Businesses With No Employees

September 2, 2011

There are two retirement plans that a business owner, that has no employees, can implement that can provide a significant deferral of income and taxes: 1) a Simple-IRA and 2) an Individual or Solo 401(k) Plan.

Tracking Bills In QuickBooks, Worth The Effort

August 30, 2011

Next to payroll, paying bills is probably your least favorite task in QuickBooks. You don’t have to use this feature – you can keep stacking bills on your desk, scrawling the due dates on a paper calendar, and writing checks.

Nonprofit Board Members: Paid Or Volunteer?

August 29, 2011

The propriety of pay for board members serving tax-exempt organizations is in the news again. While not a new topic (it has been raised at any number of points in past years), the sentiments of some opposed to the practice has intensified.

Disaster Planning – “An ounce of prevention…

August 23, 2011

Whether it be flood, fire or other disaster striking, your individual and business records are vital to getting back on your feet. One of the best methods to minimize damage is to have a backup set of records, preferably in the electronic form. Keep this backup set away from the original set, in a safe offsite location.

IRS Correspondence Examinations

August 10, 2011

Recently, the IRS has expanded correspondence examinations of individual tax returns. What is a correspondence examination?