Governor McCrory signed one of the most sweeping NC state tax overhauls in years into law Tuesday.
The changes will go into effect in 2014. The law cuts personal and corporate income taxes to the lowest levels of neighboring states. It also limits future state spending by more than $2 billion in the next five years. Continue reading Governor McCrory Signs New Tax Law
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.
