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May 6, 2025/Business Planning, Tax

Smith Leonard Honors the Retirement of Assurance and Advisory Partner James Mitchell

Smith Leonard PLLC is both honored and humbled to announce the retirement of James Mitchell, Assurance and Advisory Partner.  Since Smith Leonard’s inception in 2007, James has been a cornerstone of our Assurance and Advisory practice. His leadership, integrity, and unwavering commitment to his clients and colleagues have helped shape who we are today not […]

April 22, 2025/Tax, Business Planning

IRS Further Postpones Various Tax Deadlines to Sept. 25 for North Carolina Storm Victims

On April 17, the IRS announced additional Hurricane Helene tax relief for residents of North Carolina.  Per prior relief announced on October 1, tax return filings and payments due between September 25, 2025 and May 1, 2025 (the postponement period) were not due until May 1, 2025, again, for North Carolina residents. Per the latest […]

February 13, 2025/Tax, Business Planning

House Republicans Float Long List of Potential Tax Measures

Republicans in the U.S. House of Representatives Budget Committee recently circulated a draft list of policy options, some of which would help pay for the extension of the expiring provisions of the Tax Cuts and Jobs Act of 2017 and set President Donald Trump’s tax policy agenda.  The document has not been officially published by […]

SALT 2024 Year-End Planning Guide

As 2019 comes to a close, we encourage you to consider year-end planning to take advantage of opportunities to reduce your tax bill and prepare for the year ahead. View our business and individual tax planning guides.

Navigating the Intersection of Customs and VAT/GST

Companies engaged in the global trade of tangible goods crossing physical borders must navigate a complex indirect tax environment. A critical aspect of managing global trade transactions is understanding customs duties and Value Added Taxes or Goods and Services Taxes (VAT/GST) that apply in each jurisdiction. These indirect tax obligations can create significant cost and […]

Top Three Manufacturing Trends for 2024

Earlier this year, BDO released our 2024 Manufacturing CFO Outlook Survey, which identified key manufacturing trends for the year ahead. To benchmark how these trends are evolving, we polled over 100 manufacturing professionals during our webinar, “Reshaping Manufacturing Resilience: The Evolving Role of CFOs in a Changing Landscape,” on April 9.   Results from the webinar […]

Intuit’s Shift Away from QuickBooks Desktop: What It Means for Your Business

In late 2023, Intuit announced that it would no longer sell new subscriptions of certain QuickBooks Desktop products. This announcement marked a significant shift for the accounting industry, as well as business owners, since Desktop products have been a staple for many over the past few decades.   The Details:  Intuit will discontinue selling new subscriptions […]

Audit Firm Business Models – What Audit Committees May Want to Know

Audit Firm Business Models – What Audit Committees May Want to Know As the audit profession continues to evolve to satisfy changing business needs while prioritizing high quality audits for the investment community, firms are taking different approaches toward a sustainable future. These may range from maintaining traditional partner-owned entities that oversee cross-disciplinary functions in […]

April 26, 2021/COVID-19, Business Planning

Is Your PPP Loan Forgiveness Deadline Fast Approaching?

If you have received a Paycheck Protection Program (PPP) Loan and have not yet submitted your application for forgiveness, your deadline may soon be approaching. The deadline to submit a PPP Forgiveness Application with your lender is 10 months after the last day of the borrowers covered period

March 12, 2021/Tax, COVID-19, Business Planning

American Rescue Plan Act of 2021 Becomes Law

President Biden signed the $1.9 trillion American Rescue Plan Act of 2021 (ARPA) into law on March 11, 2021. Key provisions of this act allow for additional stimulus funds and is the 6th bill enacted by the federal government that focuses on COVID relief. Relief from this bill impacts both businesses and individuals and provides […]

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