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Charlotte area residents have a major sales tax decision coming up, which will have an impact on businesses that collect and remit sales tax.
As many area businesses know (OR SHOULD KNOW!), Charlotte’s sales tax rate is either 2%, 7.25%, or 8.25% and what rate belongs to your business is based on what the business is selling. The city council recently authorized a 0.25% increase to be added to the upcoming November 5th election, in which voters can make the choice of passing or halting the tax increase. If the increase is passed, the good news is that the proceeds will stay in Charlotte and are allocated according to a specific formula, heavily favoring the arts.
Justin Prusiensky, GP CPA
The Employee Retention Credit (“ERC”) has had some upgrades and retrofits to some of the basic calculations with the most recent (12.27.20) CARES Act changes.
What is new in 2021? Meals in 2021 are once again 100% deductible, the next round of PPP funding is coming and the Employee Retention Credit (ERC) has been changed.
How to Persuade Clients to Change Banks. Listen to Justin Prusiensky’s Guest Appearance on the Relay Financial Webinar
Our expert accountant Justin Prusiensky was recently interviewed as a guest speaker by Relay Financial to discuss how to persuade clients to change banks.
Congress extended some of the tax breaks retroactively to January 1, 2018. They now expire on December 31, 2020. Learn more about tax breaks that have been extended.
GP CPA offers a wide range of business advisory services that are tailored to the needs of business owners. For those small businesses who need someone to keep the books, we can do that.