Filing Your 2021 Tax Return: A Guide
Buckle up. Filing your 2021 taxes might be a bumpy ride. That’s why we’ve compiled information and tips to help you navigate the journey and maintain your sanity through it all this year.
Watch for New Letters from the IRS — and Keep Them!
The IRS is sending taxpayers new letters about the 2021 Economic Impact Payments and Advanced Child Tax Credit payments. The letters contain information necessary for calculating your tax refund correctly.
The Value of Health Savings Accounts – and How to Maximize Their Tax Benefits
Health savings accounts provide a triple-tax benefit but are heavily underutilized. Learn how to maximize HSA savings and use them in retirement in this timely article for open enrollment season.
North Carolina Budget Allows PPP Deductions, Reduces Tax Rates, Establishes SALT Workaround
The long-awaited 2021-2023 biennial North Carolina budget was passed by the General Assembly and signed by Governor Roy Cooper on November 18, 2021. Media outlets have focused on high-profile provisions, such as raises for teachers and other state employees. Other provisions - including historic tax cuts - immediately impact all North Carolina taxpayers.
Infrastructure Bill Passes, Build Back Better Act Vote on the Horizon
On November 5, 2021, Congress passed a $550 billion Infrastructure Investment and Jobs Act. This bill is separate from the Build Back Better Act, which includes the highly discussed and more significant tax proposal changes. Read on for a summary of tax changes passed by the infrastructure bill and proposed changes from the Build Back Better Act.
Webinar Recording | Top 10 Tax Strategies for 2021
Join PBMares on November 3 to discover the top 10 tax strategies businesses should consider before year-end, including traditional tax strategies, remaining COVID-19 incentives, and opportunities expiring at year-end.
Billionaire Tax Proposed for Wealthy Individuals, Estates and Trusts
Source: RSM US LLP. With the coronavirus pandemic consuming attention and companies focusing on implementing safety, readiness and response measures, a surge in potentially harmful phishing scams has emerged.
Build Back Better Act – What Is in and What Is out?
Source: RSM US LLP. With the coronavirus pandemic consuming attention and companies focusing on implementing safety, readiness and response measures, a surge in potentially harmful phishing scams has emerged.
The Build Back Better Act’s Dozen Tax Changes (UPDATED)
There are many tax changes proposed in the Build Back Better Act. PBMares has detailed a dozen tax changes (including an update October 28th) that would change the tax landscape and would require many taxpayers to re-evaluate their tax positions.
2021 North Carolina Tax Reform
North Carolina is on the verge of passing major tax changes affecting corporate, pass-through, and individual taxpayers. If passed, the state's corporate income tax would be eliminated and 250,000 taxpayers would be removed from state tax rolls.