Tag Archives: raleigh cpa firm

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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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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“The Affordable Care Act”, Now That We Know It’s the Law, What Does it Mean?

The Patient Protection and Affordable Care Act [“PPACA”] (also sometimes referred as “The Affordable Care Act” or “ObamaCare”) was originally enacted in 2010 but essentially became significant legislation this past summer when in a landmark decision, the Supreme Court by a margin of 5-4 upheld the law as constitutional.  We at Langdon & Company LLP, a Raleigh CPA firm have tax professionals available to help guide you and your business through planning for the Act.

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