Personal Records Retention Policies
Good recordkeeping can make your life easier. While record retention policies are often geared towards businesses, your personal files should also be kept safe and well organized. When creating your retention policy, you should consider state and federal statutes of... Read More →
Tax Efficient Methods of Making Charitable Gifts
Who This Applies To: Traditional IRA owners who are at least 70 1/2 Benefits to you: Making your charitable gifts directly from your IRA can result in three possible benefits Reduction in taxable income A decrease in the taxable portion... Read More →
New Tax Law Changes the Math for Roth Contributions
Who this applies to: Those individuals that make supplemental contributions to 403(b) and 457 retirement plans Benefits to you: Designating contributions as Roth can potentially lower taxes in three ways Paying taxes now at a lower rate than might be... Read More →
UNC System Employees: Are You Aware of the Benefits of Roth Accounts?
From the advisors at Collegiate Capital Management, Inc. The UNC System and the State of North Carolina have embraced recent Roth-related changes to the IRS code. UNC System employees can now designate contributions to three supplemental retirement accounts (SRAs) as... Read More →
NC Bailey Patton Directive PD-00-1
Directive Subject: Bailey v. State of North Carolina; Emory v. State of North Carolina; Patton v. State of North Carolina Tax: Individual Income; Tax Law: G.S. 105-134.5 and G.S. 105-134.6 Issued By: Personal Taxes Division Date: May 19, 2000 Number: PD-00-1... Read More →
NC Bailey Patton Directive PD-04-1
North Carolina Directive No. PD-04-1, 08/23/2004 Date Issued: 08/23/2004 Tax Type(s): Personal Income Tax Subject: Bailey v. State of North Carolina; Emory v. State of North Carolina; Patton v. State of North Carolina Tax: Individual Income Tax Law: G.S. 105-134.5... Read More →
Changes to the NC 529 College Savings Plan
As of January 1, 2014, contributions to North Carolina 529 plans are no longer deductible on your North Carolina state income taxes. Beginning in 2006, North Carolina began to allow for a deduction up to $750 ($1,500 if filing jointly) for contributions... Read More →