Client Check-In Sheet for Tax Appointment
Self Employeed Business Sch - C
Un-Reimbursed Expenses from Employer
Income or Loss from Rental Real Estate
TAX DUE DATES:
1040, 1040 A, or 1040 EZ:
Theses are due 4/15/15 (10/15/15 with extension)
1120 or 1120 S:
These are due 3/15/15 ( 9/15/15 with extension)
1065 or Single Member LLC'S:
These are due 4/15/15 (9/15/15 with extension)
SUNSET ACCOUNTING is a a small accounting firm that has opened a new office in the Charlotte, NC area, and continues to grow from our clients "Word of Mouth".
There is no client too small.
Twenty years experience in General Accounting, Full Charge Bookkeeping, Payroll, sales and use tax,financial analysis and financial solutions. Fifteen years experience preparing Individual taxes, S-Corporation and sole proprietorship. Seven years in partnerships and C-Corporation, Three years experience in trust and non profit tax returns. 10 years experience in office management and CFO responsibilities.
1216 Sunset Road
Charlotte, NC 28216
Important Information For 2014/2015
Personal / IndividualThere have been recent changes to the North Carolina Individual Income Tax Laws. Some changes include larger deductions for every group.
Click to download this new information
Introduced in House (12/01/2014)
Tax Increase Prevention Act of 2014 - Title I: Certain Expiring Provisions - Amends the Internal Revenue Code to extend certain expiring tax provisions relating to individuals, businesses, and the energy sector.
Subtitle A: Individual Tax Extenders - Extends through 2014:
- the tax deduction of expenses of elementary and secondary school teachers;
- the tax exclusion of imputed income from the discharge of indebtedness for a principal residence;
- the equalization of the tax exclusion for employer-provided commuter transit and parking benefits;
- the tax deduction of mortgage insurance premiums;
- the tax deduction of state and local general sales taxes in lieu of state and local income taxes;
- the tax deduction of contributions of real property interests for conservation purposes;
- the tax deduction of qualified tuition and related expenses; and
- the tax exemption of distributions from individual retirement accounts for charitable purposes.
Subtitle B: Business Tax Extenders - Extends through 2014:
- the tax credit for increasing research activities;
- the low-income housing tax credit rate for newly constructed non-federally subsidized buildings;
- the Indian employment tax credit;
- the new markets tax credit;
- the tax credit for qualified railroad track maintenance expenditures;
- the tax credit for mine rescue team training expenses;
- the tax credit for differential wage payments to employees who are active duty members of the Uniformed Services;
- the work opportunity tax credit;
- authority for issuance of qualified zone academy bonds;
- the classification of race horses as three-year property for depreciation purposes;
- accelerated depreciation of qualified leasehold improvement, restaurant, and retail improvement property, of motorsports entertainment complexes, and of business property on Indian reservations;
- accelerated depreciation of certain business property (bonus depreciation);
- the special rule allowing a tax deduction for charitable contributions of food inventory by taxpayers other than C corporations;
- the increased expensing allowance for business assets, computer software, and qualified real property (i.e., leasehold improvement, restaurant, and retail improvement property);
- the election to expense advanced mine safety equipment expenditures;
- the expensing allowance for film and television production costs and costs of live theatrical productions;
- the tax deduction for income attributable to domestic production activities in Puerto Rico;
- tax rules relating to payments between related foreign corporations and dividends of regulated investment companies;
- the treatment of regulated investment companies as qualified investment entities for purposes of the Foreign Investment in Real Property Tax Act (FIRPTA);
- the subpart F income exemption for income derived in the active conduct of a banking, financing, or insurance business;
- the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income;
- the 100% exclusion from gross income of gain from the sale of small business stock;
- the basis adjustment rule for stock of an S corporation making charitable contributions of property;
- the reduction of the recognition period for the built-in gains of S corporations;
- tax incentives for investment in empowerment zones;
- the increased level of distilled spirit excise tax payments into the treasuries of Puerto Rico and the Virgin Islands; and
- the tax credit for American Samoa economic development expenditures.
Amends the Housing Assistance Tax Act of 2008 to extend through 2014 the exemption of the basic military housing allowance from the income test for programs financed by tax-exempt housing bonds.
Subtitle C: Energy Tax Extenders - Extends through 2014:
- the tax credit for residential energy efficiency improvements;
- the tax credit for second generation biofuel production;
- the income and excise tax credits for biodiesel and renewable diesel fuel mixtures;
- the tax credit for producing electricity using Indian coal facilities placed in service before 2009;
- the tax credit for producing electricity using wind, biomass, geothermal, landfill gas, trash, hydropower, and marine and hydrokinetic renewable energy facilities;
- the tax credit for energy efficient new homes;
- the special depreciation allowance for second generation biofuel plant property;
- the tax deduction for energy efficient commercial buildings;
- tax deferral rules for sales or dispositions of qualified electric utilities; and
- the excise tax credit for alternative fuels and fuels involving liquefied hydrogen.
Subtitle D: Extenders Relating to Multiemployer Defined Benefit Pension Plans - Extends through 2015 the automatic extensions of amortization periods for multiemployer defined benefit pension plans and for multiemployer funding rules under the Pension Protection Act of 2006.
Title II: Technical Corrections - Tax Technical Corrections Act of 2014 - Makes technical and clerical amendments to:
- the American Taxpayer Relief Act of 2012;
- the Middle Class Tax Relief and Job Creation Act of 2012;
- the FAA Modernization and Reform Act of 2012;
- the Regulated Investment Company Modernization Act of 2010;
- the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010;
- the Creating Small Business Jobs Act of 2010;
- the Hiring Incentives to Restore Employment Act;
- the American Recovery and Reinvestment Tax Act of 2009;
- the Energy Improvement and Extension Act of 2008;
- the Tax Extenders and Alternative Minimum Tax Relief Act of 2008;
- the Housing Assistance Tax Act of 2008;
- the Heroes Earnings Assistance and Relief Tax Act of 2008;
- the Economic Stimulus Act of 2008;
- the Tax Technical Corrections Act of 2007;
- the Tax Relief and Health Care Act of 2006;
- the Safe, Accountable, Flexible, Efficient Transportation Equity Act of 2005: A Legacy for Users;
- the Energy Tax Incentives Act of 2005; and
- the American Jobs Creation Act of 2004.
New Standard Mileage Rates Now Available; Business Rate to Rise in 2015
IR-2014-114, Dec. 10, 2014
WASHINGTON - The Internal Revenue Service today issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be:
- 57.5 cents per mile for business miles driven, up from 56 cents in 2014
- 23 cents per mile driven for medical or moving purposes, down half a cent from 2014
- 14 cents per mile driven in service of charitable organizations
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile, including depreciation, insurance, repairs, tires, maintenance, gas and oil. The rate for medical and moving purposes is based on the variable costs, such as gas and oil. The charitable rate is set by law.
Monday through Friday 9:00 am to 8:00 pm (last appt. time 7:00 pm)
Saturday 10:00 am to 4:00 pm (last appt. time 3:00 pm)
I will not open on Sundays this year as that day will be for my drop-off and mail in clients.
I am still accepting mail-ins, faxes and drop-offs for my previous clients only. These get done in the same amount of time as coming in for an appointment.
Call for your personalized organizer.