Sheldon Solutions

We are excited to be an exhibitor this year at the NSSF Range - Retailer Business Expo in New Orleans!
https://www.nssf.org/expo-2022/

Thank you, Frank!

FIC Conference in Atlanta

Dozen Fi****ms Industry Leaders to Sponsor FIC 2022 Notable manufacturing, technology, ecommerce and operations leaders from across the fi****ms industry to sponsor FIC 2022.

Live at the Loft!
Cardinal Club

1099
Intentional disregard of filing requirements. If any failure
to file a correct information return is due to intentional
disregard of the filing or correct information requirements, the penalty is at least $250 per information return with NO maximum penalty.

North Carolina Dept of Revenue Publication re new NC-4EZ and NC-4.
http://www.dornc.com/press/2013/nc4requirement.html

Press Release - Employers must collect new Form NC-4 EZs or NC-4s The North Carolina General Assembly recently enacted the Tax Simplification and Reduction Act which becomes effective for taxable years beginning on or after January 1, 2014. Under this new law, all taxpayers will pay a lower rate and be granted a higher standard deduction. Taxpayers may no longer c...

Medical Insurance and S - Corporations:

http://www.irs.gov/Businesses/Small-Businesses-%26-Self-Employed/S-Corporation-Compensation-and-Medical-Insurance Issues

S Corporation Compensation and Medical Insurance Issues When computing compensation for employees and shareholders, S corporations may run into a variety of issues. The information below may help to clarify some of these concerns.

The standard mileage rate 2014 was announced by the IRS to be one half cent lower than the 2013 mileage rates for business.

Optional standard mileage rates for use of a vehicle will go down by one-half cent per mile for 2014, the IRS announced on Friday (Notice 2013-80). Taxpayers can use the optional standard mileage rates to calculate the deductible costs of operating an automobile.

Please see IRS notice 2013-80 for further details.

According to the CCH Standard Federal Tax Reporter, as of 2013, it now takes 73,954 regular 8-1/2″ x 11″ sheets of paper to explain the complexity of the U.S. federal tax code!

November 12, 2013

The North Carolina General Assembly recently enacted House Bill 998 which becomes effective for taxable years beginning on or after January 1, 2014. Under this new law, all taxpayers will pay a lower rate and be granted a higher standard deduction. Taxpayers may no longer claim a personal exemption for themselves, their spouse, children, or any other qualifying dependents. Additionally, many deductions and tax credits that impact North Carolina withholding tax are no longer available for tax years beginning on or after January 1.

As a result of this Act, every employer must have all employees provide a new Employee’s Withholding Allowance Certificate, either Form NC-4 EZ or Form NC-4.

The new form must be completed by the employee and provided to the employer so the correct amount of State income tax is withheld for any payment periods beginning on or after January 1, 2014.

Likewise, all recipients of pension or annuity payments must complete and provide to their payer a new Withholding Certificate for Pension or Annuity Payments, Form NC-4P ,(Revised 11/25/13) in order to withhold the correct amount of State income tax for any pension payment periods beginning on or after January 1, 2014.

NCDOR will notify employers and pension payers of the new requirement by mail.

Review the notification packet (Revised 11/25/13), which includes new versions of the NC-4 EZ, NC-4 and NC-4P along with instructions and other related information.
Questions

Questions: employers or pension payers with questions may call this special help number: 1-877-252-4487. The number will be available until Feb. 28, 2014.
Resources
(Note: Unlike most tax forms, you can save time by printing the NC-4 EZ, NC-4, and NC-4P directly from the links below. Since these documents are not scanned or machine read, the forms may be copied and distributed as needed.)

http://www.dornc.com/press/2013/nc4requirement.html