North Carolina Tax Blog

The Internal Revenue Service (IRS) works hard to collect back taxes from many Americans each year. The caseload can be overwhelming and get seriously backlogged. In order to help taxpayers get back on track, they established the ‘Fresh Start’ program or ‘Fresh Start Initiative’. Essentially, the program helps both individuals and small businesses who are…

Choosing a legal structure for your business can be a daunting first step in setting up shop. You may be inclined to simply pick an entity type that you’re familiar with, such as a corporation. But making a poor decision can hurt your business prospects before you’ve even made your first sale. Understanding the differences…

Whether you’re just starting out or a seasoned business owner, the odds are, at some point in time, you’re going to need a lawyer to help with legal problem. That’s why it’s important for any business, big or small, to have an ongoing relationship with a good lawyer. How do you find one? A great place to…

Getting a notice that you’re being audited by the IRS can strike fear in the hearts of the bravest of taxpayers. However, educating yourself and following a few simple rules can make the process less painful. Kinds of Audits Some audits are worse than others. You can expect either: A correspondence audit where everything is done by mail.…