Hunter T. Bracy, Certified Public Accountant
Eastern NC Accounting Firm Focusing on Tax Preparation for Individuals and Small Businesses
06/01/2024
Now Accepting New Clients!
📅 Ready for hassle-free tax filing? Join our waitlist at the link below.
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Hunter T. Bracy, CPA Tax Client Waitlist Thank you for reaching out. In order to ensure high quality service for clients we only bring in new clients when space is available. You are welcome to add your name to our waitlist and we will reach out to you when we anticipate an opening. There is no deposit required.
13/10/2023
Thank you to all who voted!
30/01/2021
The IRS is warning taxpayers that identity thieves are fraudulently claiming state unemployment benefits using stolen taxpayer identities. Here is what taxpayers should do if they receive a Form 1099-G reporting state unemployment benefits they did not receive.
https://www.journalofaccountancy.com/news/2021/jan/identity-theft-scam-involving-unemployment-benefits.html
Beware of identity theft scam involving unemployment benefits The IRS warned taxpayers that identity thieves are fraudulently claiming state unemployment benefits using stolen taxpayer identities. Here is what taxpayers should do if they receive a Form 1099-G reporting state unemployment benefits they did not receive.
08/01/2021
IRS Issuing Millions of Coronavirus Stimulus Payments by Debit Card: Here's What to Look For Starting this week, the Treasury Department and the Internal Revenue Service are sending approximately 8 million second Economic Impact Payments (EIPs) by prepaid debit card.
Make a win/win. The CARES Act includes several temporary tax changes helping charities, including the special $300 deduction designed especially for people who choose to take the standard deduction, instead of itemizing. This means the deduction lowers both adjusted gross income and taxable income – translating into tax savings for those making donations to qualifying tax-exempt organizations before Dec. 31, 2020.
20/11/2020
11/11/2020
BEWARE OF NEW TEXT SCAM RELATED TO STIMULUS PAYMENTS.
https://www.bracycpa.com/blog/beware-of-new-text-scam-related-to-stimulus-payments/44774
Beware of New Text Scam Related to Stimulus Payments The IRS has warned taxpayers of a clever scheme by internet scammers to dupe taxpayers into revealing their bank account information under the guise of receiving the $1,200 Economic Impact Payment (EIP) that Congress authorized last Spring.
It's time to get started on year-end tax planning! Check out this video to see if any of these tax situations apply to you.
Don’t Miss the Opportunity for a Spousal IRA
One frequently overlooked tax benefit is the spousal IRA. Generally, IRA contributions are only allowed for taxpayers who have compensation (the term “compensation” includes wages, tips, bonuses, professional fees, commissions, taxable alimony received, and net income from self-employment). Spousal IRAs are the exception to that rule and allow a non-working or low-earning spouse to contribute to his or her own IRA, otherwise known as a spousal IRA, as long as the spouse has adequate compensation.
To find out more check out this article.
https://www.bracycpa.com/blog/dont-miss-the-opportunity-for-a-spousal-ira/44746
19/10/2020
https://www.bracycpa.com/blog/there-is-more-to-deducting-health-insurance-than-meets-the-eye/44719
There is More to Deducting Health Insurance than Meets the Eye Health insurance premiums, especially in the wake of the Affordable Care Act, have risen dramatically and are one of the greatest expenses that most individuals pay. Although the cost of health insurance is allowed as part of an individual’s medical deductions when itemizing deductions, only the a...
06/10/2020
I am always striving to be the best I can be for my clients, and that’s why I decided it was time to revamp the website. Built to be user-friendly, lightning fast, and full of all the information you could ever need on my practice, I hope you will take some time to explore what’s new. Remember: It’s designed with clients in mind. Check out the Learning Center for updates and articles on tax topics.
Visit at www.bracycpa.com
Check out our video on 7 ways small busnesses can save on taxes
21/09/2020
The North Carolina Department of Revenue (NCDOR) announced that it is now accepting applications for $335 Extra Credit Grants through Oct. 15. The program, which Governor Roy Cooper signed into law earlier this month as part of the Coronavirus Relief Act 3.0, will help families with qualifying children pay for virtual schooling and child-care costs during the COVID-19 pandemic.
While taxpayers who reported at least one qualifying child (age 16 or younger) on their 2019 state individual income tax return will receive the payment automatically, some North Carolinians who were not required to file a return are still eligible, but must apply by Oct. 15, 2020 in order to receive the grant.
NC Department of Revenue Launches Application Process for Extra Credit Grants - North Carolina Association of Certified Public Accountants NCDOR announced it is now accepting applications for $335 Extra Credit Grants through Oct. 15. The program is part of the Coronavirus Relief Act 3.0 and will help families with qualifying children pay for virtual schooling and child-care costs during the COVID-19 pandemic.
13/09/2020
Reminder: Estimated tax payments are due September 15th. They should be scheduled by Monday if you pay electronically or mailed by Tuesday.
09/09/2020
As the November elections approach, you might want to know what the two front-running presidential candidates’ tax plans for the future are. The following is an overview of their positions, at least what is known now. However, the political and economic landscapes can change, and there is no assurance these plans won’t be revised or that they will have eventual Congressional backing. However, the information may be helpful as you look toward future tax planning. Visit the link below for the full infographic.
https://www.client-sites.com/images//PresidentialCandidatesComparisonFinalDraft.jpg
07/08/2020
Good information put together by NCACPA for those working from home 🏠
https://www.ncacpa.org/blog/what-taxpayers-need-to-know-about-the-home-office-deduction/
What Taxpayers Need to Know About the Home Office Deduction - North Carolina Association of Certified Public Accountants Here’s what taxpayers need to know about filling a home office deduction in their 2020 tax return.
21/07/2020
On July 16, The IRS announced its annual "Dirty Dozen" list of tax scams with a special emphasis on aggressive and evolving schemes related to Coronavirus tax relief, including Economic Impact Payments. View the full list here: https://bit.ly/irsditrydozen
20/07/2020
New AICPA tool automates PPP loan forgiveness process Borrowers can apply for forgiveness of Paycheck Protection Program loans by using a new, free AICPA tool that CPA firms can also use to serve their clients. The tool will produce all government-required forms automatically.
We're a month away from the deadline to file your 2019 tax return. ⏳ If you still need to file send me a message or give me a call. 📞
July 15 is also the day your first-quarter payment is due if you file quarterly taxes (It’s usually due June 15, but got delayed this year due to the pandemic.)
15/06/2020
21/03/2020
NCDOR: N.C. Department of Revenue Offers Relief in Response to COVID-19 Outbreak Secretary of Revenue Ronald G.
21/03/2020
Treasury Secretary Steven Mnuchin announced that taxpayers will have until July 15 to file their tax returns, a change from the guidance announced by the IRS earlier. A formal announcement of the change has not yet been made. Details at https://bit.ly/2QuGUTK
17/03/2020
We have more time to pay now! The deadline for filing hasn't changed yet. Those of you who haven't filed but are ready: call message or text me today to set up an appointment!
Treasury secretary announces 90-day delay in tax payment deadline Treasury Secretary Steven Mnuchin announced that individuals and businesses can delay their tax payments for 90 days due to the coronavirus pandemic.
I may not be able to find you a pot of gold 🌈💰, but I can find your biggest refund! ☘️🍀 Call, text, or message me today to set up an appointment!
TaxTipTuesday: the best way to maximize your refund is to claim all possible deductions. Commonly missed deductions include: your childrens camps 🏕️, your home office 🏡, and charitable contributions you made to support your favorite cause 🎗️! Call or text today to setup an appointment and get your biggest refund!
01/03/2020
The sooner you file the sooner you get your refund! Parents elegible for child tax credits will typically take longer than others, but its worth the wait. Call today to schedule an appointment!
https://www.cpapracticeadvisor.com/tax-compliance/news/21127236/wheres-your-refund-chart-shows-estimated-2020-irs-income-tax-refund-dates
Where's Your Refund? Chart Shows Estimated 2020 IRS Income Tax Refund Dates This simple chart shows an estimate of whey you may receive your 2020 income tax refund. Most taxpayers can get their 2020 income tax refund via direct deposit from the IRS in as little as 10-15 days if they file early.
14/02/2020
Tired of keeping up with changing tax rules? Call today to get your 2019 taxes filed!