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If you are looking for a combination of personal service and technical expertise, you have come to the right place! Our firm is comprised of highly qualified, experienced accountants and Enrolled Agents (EA), licensed to practice before the Internal Revenue Service, located in Raleigh, North Carolina. Since our inception, we have offered a full range of accounting, tax and small business consulting services. Our firm will focus on your unique tax and business needs. Feel free to look around our online office website and see what we can offer you. Please call for a free initial consultation!

OUR SERVICES

Our services encompass nearly every aspect of business and financial life. We are experienced in all matters of taxation, IRS problem resolution and representation before state and federal taxing authorities. We also offer bookkeeping and accounting services, QuickBooks and Peachtree consulting, payroll services and assistance in many other small business matters. We enjoying working with our clients located in the Raleigh-Durham Research Triangle area, and work with many individuals and businesses in other locations with our remote services.

We are proud that our use of online, interactive abilities make working with our clients as easy as possible. Our Client Portal allows you to send information to a secure electronic file cabinet for us to access. We can then answer questions or provide documents to you through the same secure Portal. Our Online Tax Organizer allows you to fill out an organizer and answer questions on your own schedule and send the completed organizer to us. You can also file your own federal and state returns directly through our website at a very low cost.

Our firm's reputation for providing quality, personal service reflects the high standards we demand of ourselves. Our high standards, responsive service and specialized staff can mean the difference between our firm and the rest.

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Reduce your taxes...make better business decisions...and learn how to grow your wealth by reading our free reports on financial strategies for business owners, individuals and investors. You also get the latest breaking tax saving strategies in our monthly newsletter.

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Balance your checkbook, save for college educations, check the current tax rates, tax due dates, when you'll get your tax refund, incorporate your business, get the latest version of QuickBooks, securely send us your accounting files, pick up previous years' tax returns.....or simply pay our fees online. And here we're open 24/7!

Top Ten Facts about Taking Early Distributions from Retirement Plans

Some taxpayers may have needed to take an early distribution from their retirement plan last year. The IRS wants individuals who took an early distribution to know that there can be a tax impact to tapping your retirement fund. Here are ten facts about early distributions.

1. Payments you receive from your Individual Retirement Arrangement before you reach age 59 and a half are generally considered early or premature distributions.

2. Early distributions are usually subject to an additional 10 percent tax.

3. Early distributions must also be reported to the IRS.

4. Distributions you rollover to another IRA or qualified retirement plan are not subject to the additional 10 percent tax. You must complete the rollover within 60 days after the day you received the distribution.

5. The amount you roll over is generally taxed when the new plan makes a distribution to you or your beneficiary.

6. If you made nondeductible contributions to an IRA and later take early distributions from your IRA, the portion of the distribution attributable to those nondeductible contributions is not taxed.

7. If you received an early distribution from a Roth IRA, the distribution attributable to your prior contributions is not taxed.

8. If you received a distribution from any other qualified retirement plan, generally the entire distribution is taxable unless you made after-tax employee contributions to the plan.

9. There are several exceptions to the additional 10 percent early distribution tax, such as when the distributions are used for the purchase of a first home, for certain medical or educational expenses, or if you are disabled.

10. For more information about early distributions from retirement plans, the additional 10 percent tax and all the exceptions see IRS Publication 575, Pension and Annuity Income and Publication 590, Individual Retirement Arrangements (IRAs). Both publications are available at IRS.gov or by calling 800-TAX-FORM (800-829-3676).

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First-Time Homebuyer Credit Extended to April 30, 2010; Some Current Homeowners Now Also Qualify

WASHINGTON -- A new law that went into effect Nov. 6 extends the first-time homebuyer credit five months and expands the eligibility requirements for purchasers.
The Worker, Homeownership, and Business Assistance Act of 2009 extends the deadline for qualifying home purchases from Nov. 30, 2009, to April 30, 2010. Additionally, if a buyer enters into a binding contract by April 30, 2010, the buyer has until June 30, 2010, to settle on the purchase.
The maximum credit amount remains at $8,000 for a first-time homebuyer -- that is, a buyer who has not owned a primary residence during the three years up to the date of purchase.
But the new law also provides a 'long-time resident' credit of up to $6,500 to others who do not qualify as 'first-time homebuyers.' To qualify this way, a buyer must have owned and used the same home as a principal or primary residence for at least five consecutive years of the eight-year period ending on the date of purchase of a new home as a primary residence.
For all qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 tax returns.
A new version of Form 5405, First-Time Homebuyer Credit, will be available in the next few weeks. A taxpayer who purchases a home after Nov. 6 must use this new version of the form to claim the credit. Likewise, taxpayers claiming the credit on their 2009 returns, no matter when the house was purchased, must also use the new version of Form 5405. Taxpayers who claim the credit on their 2009 tax return will not be able to file electronically but instead will need to file a paper return.
A taxpayer who purchased a home on or before Nov. 6 and chooses to claim the credit on an original or amended 2008 return may continue to use the current version of Form 5405.
Income Limits Rise
The new law raises the income limits for people who purchase homes after Nov. 6. The full credit will be available to taxpayers with modified adjusted gross incomes (MAGI) up to $125,000, or $225,000 for joint filers. Those with MAGI between $125,000 and $145,000, or $225,000 and $245,000 for joint filers, are eligible for a reduced credit. Those with higher incomes do not qualify.
For homes purchased prior to Nov. 7, 2009, existing MAGI limits remain in place. The full credit is available to taxpayers with MAGI up to $75,000, or $150,000 for joint filers. Those with MAGI between $75,000 and $95,000, or $150,000 and $170,000 for joint filers, are eligible for a reduced credit. Those with higher incomes do not qualify.