Edmundson CPA, PLLC

​We provide accounting and bookkeeping services for small businesses Key benefits of financial statements Financial statements help you manage your business and show how your business is doingCurrent financial statements assist with business and tax planningSave the owner’s time needed to learn and perform the accounting dutiesTimely accounting services help prevent late filing and failure… CONTINUE READING ACCOUNTING, Bookkeeping and Payroll Services Judge Learned Hand gave tax planning a thumbs up when he wrote: “Anyone may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes ” [Court of Appeals,… The tax laws and forms are often difficult to understand Reading them is worse than reading the instructions on how to assemble a new toy your child Tax preparation should not be such a struggle William E Simon, former U S Treasury Secretary (1974-1977), agreed when he said “The nation ought to have a tax system…

NC extensions denied in error

The NC Department of Revenue has started sending out notices denying extensions that were timely filed The notices demand the income tax… CONTINUE READING NC Extensions Denied in Error

Forms 1099 due by 03/31/2016!

Forms 1099 due! In 2015, Congress decided to raise the penalties for late filing of forms 1099 The forms are generally due… CONTINUE READING FORMS 1099 DUE BY 03/31/2016! So you are preparing your income taxes or getting your information ready for your tax preparer and you are wondering what value… CONTINUE READING VALUING NONCASH CONTRIBUTIONS

Does the EITC discourage work?

As a followup to my February 17th post, entitled NC EITC is not the answer, I thought I would expand on my… CONTINUE READING Does the Eitc Discourage Work? 102 Commonwealth Ct, Suite J Cary, NC 27511-4437 +1 919 460 9966 102 Commonwealth Ct, Ste J Cary, NC 27511-4437 +1 919 460 9966