All posts by Pam Williams

Healthcare Insurance Exchange Delays?

On the heels of the Administration’s delay of the Employer Mandate (Play or Pay) until 2015, watchdogs commented to the House of Representatives Oversight and Government Reform committee.  Representatives from the Treasury Inspector General for Tax Administration and the GAO said that the October 1, 2013 deadline for beginning the healthcare exchanges would be difficult to complete.

Under the Act, individuals will be able to buy health insurance through the new exchanges beginning October.  The exchanges were designed to assist people in complying with the Individual Mandate which requires individuals to have insurance or pay a fine on their 2014 tax return.  Many states, including North Carolina, have refused to set up the healthcare exchanges, which puts more burden on the federal exchange.

Obama administration officials have assured the committee that they are on track.

More to come…

Our tax experts have a strong understanding of the tax laws. Contact Langdon & Company LLP today by calling 919-662-1001 or fill out the online contact form and a representative will be in contact shortly.

Why a Non-Profit Should Hire a CPA Firm?

The provisions of the Internal Revenue Code are complex regarding the tax treatment of non-profit donations, transactions and other recognizable events. An experienced Certified Public Accountant (CPA) is trained in the nuances of non-profit accounting and tax returns, and is capable of assisting management with recordkeeping and tax return preparation.

Utilizing a Raleigh CPA allows management to focus on day-to-day operations, and generate additional streams of income.

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Overview of Possible FASB Changes in Non-Profit Reporting Rules

The Financial Accounting Standards Board recently evaluated the way in which non-profit organizations report their financial information and is seeking to make changes that would enable charities to provide more accurate financial information to the general public.

To start with, FASB board members have created a draft document that can be used as a formal operating measure to evaluate any organization that is set up to serve the public good.

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Tax-Exempt Organizations May 15 Deadline

Just recently, the IRS announced that many tax-exempt organizations have a May 15 deadline that is required by law to file final reports with the IRS. If an organization has not filed their reports for three consecutive years, they may see their federal tax exemptions automatically revoked.

Read more about the article here.

Contact Langdon & Company LLP, a Raleigh CPA firm specializing in Business Services including tax services, tax consulting, audit services, accounting, transaction planning and succession planning.

Taxpayers and Their Accountants

Langdon & Company LLP is a Raleigh accountant firm providing professional accounting services based on clients needs, capabilities and budget. According to a recent study, nearly half of Americans who pay income tax will take their information to an accountant and have them fill out the paperwork.

It appears that Americans feel they will receive a bigger tax refund by having an accountant work on their taxes. Moreover, another fraction of taxpayers will take their taxes to friend or family, meaning most Americans do not do their own taxes, according to a Workanomix survey.

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Understanding Estate Tax and Gift Tax

When it comes to paying taxes, the government has several areas in which they take a portion of your assets. You pay taxes on what you earn and then you also have to pay taxes when you give money away.

Taxes can be taken out of gifts regardless of whether you give them when you’re alive or after you pass away as part of your estate. Langdon & Company LLP, a Raleigh CPA firm, will review clients documents to determine whether their stated planning objectives have been met. Below are the basics on how the estate tax and the gift tax work together.

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Certified Public Accountant vs. Tax Preparer

It’s income tax season again. Many of us get tense just thinking about filing our tax returns. Rather than stressing over preparing your own tax returns, consider seeking out professional help. There are basically a few options when it comes to completing your tax returns, including: doing it yourself, asking a friend or family member for help, paying a tax preparer or hiring a NC CPA firm. Unless you or your friends and family members are experts in current tax laws, hiring a professional is the best option. Between the tax preparer and CPA, which one should you hire?

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IRS Start Processing 2012 Tax Returns January 30

Langdon & Company LLP, provides tax services in the Raleigh area.  We provide consultation and tax services to business owners by helping to interpret tax law, raise tax related issues and provide solutions to tax problems.

Just recently The Internal Revenue Service (IRS) has announced that it will open the 2012 tax season beginning January 30, 2013. This announcement comes following the changes made by Congress on January 2, 2013 to the American Taxpayer Relief Act.

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Summary of The American Taxpayer Relief Act

On the first day of the year 2013, the United States Congress passed House Resolution 8, better known as the American Taxpayer Relief Act (ATRA) of 2012. Aside from preventing a headlong dive off the proverbial fiscal cliff, ATRA extends some of the Bush-era tax cuts and introduces new provisions that may or may not help to curb the budget deficit and stimulate the American economy.

Langdon & Company LLP have experienced Raleigh tax service professionals available who understand the tax laws and how they may impact individuals or specific businesses.

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Tax Services and Consulting

Langdon & Company LLP,  provides tax services in the Raleigh area.  We provide consultation and tax services to business owners by helping to interpret tax law, raise tax related issues and provide solutions to tax problems. Our professionals are experienced and knowledgeable in Federal, Multi-State and International tax laws. Langdon & Company LLP keeps clients up to date with insight on breaking legislation as well as providing innovative strategies.

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