We at The Center would like to wish everyone a Happy Halloween. Go get those sugary snacks, just be safe about it! Halloween today is a tradition that has been passed from generations ago and is now enjoyed by adults and children as well in this country. If you’re not doing anything go to a mall or trunk-or-treat and have some fun! We would also like to remind those out there that wanted to have an awesome tax year that Section 1031 of the Internal Revenue Code has its own tr
Two weeks ago, Hurricane Matthews ravaged the southeast of this country. Peoples’ homes and places of employment were literally washed away with the storm surge. The Federal Emergency Management Agency and the Red Cross have been feverishly providing support, now the IRS has announced that victims of Hurricane Matthews can take loans from 401ks and similar employer based retirement plans. Parts of North Carolina, South Carolina, Georgia, and Florida Qualify. Go to fema.gov/di
According to the New York Post, only 30% of businesses are successfully passed from the first generation to the second. Only 9% make it to the third and virtually zero to the fourth. The aftermath of a failed business means unemployment, unpaid bills, public resources used up, bankruptcy, and a legacy of nothing. Just one failed closely-held business with 4 employees and an owner typically costs the state around a half million dollars. That is in lost taxes paid, unemployment
The media is abuzz over the election and people are just absolutely sick of it all. We certainly won’t let any down. We will add to it, but just this once! The chance of Hillary Clinton getting elected as the next president are pegged at about 85-90%. Part of her tax plan includes a drop in the Estate and Gift Tax Exemption from the current $5,450,000 to $3,500,000. Farmers all over the country are up in arms over this possibility thinking their family farms are now going to
The IRS would like to let both employers and employees alike that it is monitoring the ongoing situation in Florida, Georgia and the Carolina's. Over the past weekend, the coastline has been hampered by Hurricane Matthew. Hurricane Matthew drove many to evacuate, many businesses and IRS offices to close as well. As soon as an assessment is made, the IRS will have announcements regarding aide and extended deadlines.
You’re about to get some rain and wind Florida, Georgia and South Carolina. Yes, Hurricane Matthew is about to arrive in Florida Friday morning with winds of 130 miles per hour. On Saturday, it is projected to hit Georgia with winds of 100 miles per hour and South Carolina on Sunday with winds of 100 miles per hour as well. If you haven’t already put your business continuation disaster plan in place, right now would be ideal to do so. You can start by going to the following l
Generally speaking, every dollar you ever earn will be subject to taxes. You get taxed on your wages, any interest you earn, any earnings from providing home daycare, and even selling things in a yard or garage sale can result in a tax. The internet has brought on a communication revolution and with it comes new opportunities to make money. Early on, in September of 1995, eBay was founded. This website alone showed the world that individuals could buy and sell products just l