NCACPA’s CEO to Retire; Successor Named

NCACPA’s Chair of the Board, Cindy Brown, CPA, CEBS, announced yesterday that long-time Chief Executive Officer, Jim Ahler, CAE, is retiring effective April 30, 2016. Prior to joining NCACPA in 1988, Jim was the Executive Director of the Kentucky State Board of Accountancy in Louisville. While in Kentucky, he was active on various national committees […]

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NCACPA Annual Business Meeting

NCACPA Annual Business Meeting Tuesday, May 5, 2015 Grandover Resort & Conference Center, Greensboro, NC The Annual Business Meeting of the North Carolina Association of CPAs will be held at the Grandover Resort & Conference Center in Greensboro, North Carolina. This meeting is open to all interested members of the Association. Incoming NCACPA Chair Daniel […]

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Butler & Burke v. CommScope Credit Union Update

As an update, the Association learned that the NC Supreme Court has granted the request for discretionary review in the CommScope Credit Union case. The Association, in conjunction with the AICPA, NC Chamber of Commerce, and three large accounting firms will be resubmitting amicus curiae briefs prior to the April 4, 2015 deadline. Once completed, […]

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Gap in NC Tax Laws for Pass-Through Entities and Trusts

It appears there is a gap in current NC tax law as it pertains to NC S corporation, partnership, and trust tax returns. For 2014, there is NOT a requirement to add back state, local, and foreign income taxes on these tax returns. This is relevant to multi-state taxpayers that incur income taxes in other […]

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Clarification of Bonus Depreciation

Members have posed concerns about the status of Senate Bill 20, particularly as it relates to bonus depreciation and Section 179. Please note bonus depreciation is not addressed in S20. NC previously decoupled from the federal bonus depreciation provision in a manner that does not require the Legislature to revisit this annually. However, since NC […]

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IRC Conformity Update II

With the March 15 federal filing deadline for corporations rapidly approaching, it’s certain the General Assembly will not pass the IRC Conformity legislation. In addition to the IRC Conformity language, Senate Bill 20 contains the motor fuels tax matter, which the House objected to. The amendments made by the House were rejected by the Senate. […]

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CPAs on Call—Volunteers Needed

The Association was contacted by WRAL yesterday to identify potential participants for its upcoming segment, “Here to Help: Tax Pros on Call.” During this program, on Tuesday, March 17 from 4-7 pm, members will answer questions from viewers about tax issues, and a few volunteers will be selected from the group to provide tax tips […]

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SSARS No. 21: What Is the Impact for North Carolina CPAs?

The AICPA Accounting and Review Services Committee recently issued Statement on Standards for Accounting and Review Services (SSARS) No. 21 that revises the standards for reviews, compilations, and engagements to prepare financial statements. So what are the important takeaways from the new standard? The new standard provides increased clarity as to whether a CPA is […]

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IRC Conformity Update

Watch a brief video of Jim Ahler, CEO, sharing his experience at the General Assembly today. Your Association has been working closely with lawmakers to encourage them to pass legislation regarding the conformity of NC tax laws with the IRC changes made by Congress last year. It is likely that the General Assembly will not […]

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