Tax

Delay Filing: North Carolina Tax Changes Pending

Posted on: January 26th, 2015
The North Carolina General Assembly will review potential changes to North Carolina income tax laws on January 28, 2015. Filers should wait until after this date to submit their tax returns to prevent potentially refiling returns if tax changes are passed....

North Carolina 2014 Tax Year Changes to Note

Posted on: December 12th, 2014
Individuals and businesses across North Carolina are approaching the end of the 2014 tax year. Our tax attorneys in Chapel Hillreview below a few income tax legislation amendments for the 2014 tax year. ...

Pending Court Case May Affect ‘Double Income Tax’

Posted on: October 27th, 2014
A couple’s case addressing the taxation of out-of-state income by their resident state is currently pending in the United States Supreme Court. Comptroller of the Treasury of Maryland v. Wynne questions the circumstances under which income earned out-of-state may be taxed, whether tax credits exist and what they provide, and if these procedures comply with state and county tax clauses....

Gifting Trends Among Wealthy

Posted on: October 20th, 2014
How and why individuals choose to donate to charities are influenced by several factors. Tax incentives for charitable giving are believed to be driving gifting trends, but there are also personal values and family legacies to consider. ...

Repeal of the Permanent Federal Estate Tax?

Posted on: July 12th, 2014
The federal estate tax was made permanent as part of the American Taxpayer Relief Act. (A few months after ATRA passed, Obama’s 2013 Budget Proposal moved to revert the “permanent” estate tax to 2009 terms.)...

Non-profit 501(c)(3) Application Now Easier

Posted on: July 11th, 2014
Filing for 501(c)(3) tax-exempt status has streamlined to a shorter process, both in time and in required paperwork. ...
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