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One-time Consultation Created to Meet the Needs of Our Community

Our firm is proud to offer a one-time individual or business consultation giving you personal time with an accountant for a nominal fee. It’s our belief that accounting guidance shouldn’t be difficult to access. During your consultation, you will receive straightforward answers enabling you to move forward with confidence. Small Business Consultation  This consultation gives

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2020 HSA Contributions Announced

The IRS has just announced the amounts you can contribute to your health savings account in 2020. An individual will be able to contribute $3,550 to their health savings account in 2020 up from $3,500 in 2019. Families can contribute $7,100 up from $7,000 in 2019. I don’t have an HSA. What is it and

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IRS Releases 2019 Vehicle Deprecation Limits

The Internal Revenue Service (IRS) has issued a revenue procedure updating the vehicle depreciation limits allowed for owners of passenger automobiles, trucks and vans placed in service in 2019. Depreciation Limitations for Passenger Automobiles        Vehicle Depreciation limits for passenger automobiles acquired and placed in service during calendar year 2019 and Section 168(k) additional bonus first

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How to File Your Tax Return Early This Year

We know the usual reasons to file early. 1. Faster Tax Refund 2. Extra Time to Pay Taxes You Owe 3. Prevent Identity Theft 4. Avoid Extension But, HOW do you file your return early when there are so many factors outside of your control? The IRS, NCDOR, and delayed or incorrect tax documents are

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Merry Christmas!

Let’s just say that 2018 was busy! From studying the Tax Cuts and Jobs Act to catching clients up after Hurricane Florence, our office has been working hard. We are forever grateful for your friendship, referrals, and business this year. We could not be successful without you. From all of us at Michael R Holden, PLLC,

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End of Year Tax-Savings Moves for Individuals

Although the New Year is almost here, it’s not too late to start thinking about end of year tax-saving moves. Solve Under-Withholding Problems Employees might find out that they have not withheld enough from their paychecks during 2018. An underpayment penalty could mean that your taxes were under-withheld from your paycheck, or you failed to

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New IRS Publication 5307 Helps Taxpayers Prepare for Tax Reform

Publication 5307 On November 5th, 2018 the IRS released Publication 5307, Tax Reform Basics for Individuals and Families to help taxpayers navigate the myriad of changes introduced by the Tax Cut and Jobs Act (TCJA). The  TCJA has resulted in being the largest tax overhaul in decades. Publication 5307 clarifies several areas of the TCJA and

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