Planning Tools We have assembled relevant and timely information that include feature articles on starting and managing a business, strategic tax planning, estate planning, personal financial planning, educational financial planning and an array of other topics.  We are confident that you will find this information invaluable.  Should you have any questions or require further assistance, do not hesitate to contact us.   Contact Information Richard A. Beauchemin, CPA / Carolina Accounting & Tax Service, PLLC 5309 Monroe Road Charlotte, NC  28205 Phone:  704-375-2715 Fax:       704-332-9810 Email:    customerservice@carolinaaccounting.com

Business Owner   Articles     Benefits and retirement plans       Benefit plans for small businesses       Group health insurance: a valued employee benefit       Health insurance for the self-employed       Retirement plans for small businesses       Understanding individual 401(k) plans       What employers need to know about workers' compensation insurance     Insuring a business       Professional liability coverage       Properly insuring your business       Why insure your business?     Starting a business       Choosing an entity for your business       Record keeping for your own business       Starting or buying a business       Tax planning for the self-employed     Transferring or selling a business       Transferring your family business   Decision Tools     Benefits and retirement plans       401(k) plans       Building a retirement plan for your business       Comparison of types of educational assistance       Individual 401(k) Illustration     Business planning basics       Net worth calculator     Choosing an entity       Choosing a business entity       Comparison of LLCs, LLPs, and professional corporations       How C Corporations, Limited Liability Companies, and Limited Liability Partnerships Protect Personal Assets     Tax planning       Accelerating deductions/postponing income       Accelerating income/postponing deductions     Transferring or selling a business       Buy-sell agreement analyzer       Buy-sell planning questionnaire       Planning for succession of a business interest   FAQs     Advertising a business       How can I get free publicity for my business?       How do I know where to advertise my business?       What is the best form of advertising?     Incorporating a business       Can I change my business from a C corporation to an S corporation?       Can I change my business from an S corporation to a C corporation?       Should I incorporate my business?     Insurance coverage       What kind of insurance coverage do I need for my small business?     Raising capital       Can I borrow money from my wholly owned business?       How can I raise capital for my business?     Starting a business       Don't most small businesses fail?       How do I find good advisors such as lawyers and accountants to help with my business?       Is buying a franchise a good way to get into business?       Should I buy an existing business or start from scratch?       Should I buy or lease assets for my business?       What are the stages of business development?       What should I look for in a business location?     Transferring or selling a business       Can I transfer my business through my will?       How can I keep my business in the family?       What are some financing options for selling my business?       What is a buy-sell agreement?       What is a family limited partnership, and will it help reduce estate taxes?     Valuing a business       How can I determine what my business is worth for estate and gift tax purposes?   Education Planning   Articles     529 plans       529 plans and financial aid eligibility       529 plans vs. other college savings options       Income tax planning and 529 plans       Opening a 529 account   Decision Tools     Financial aid       College application and financial aid calendar       Comparison of federal higher education loans       Financial aid calendar   FAQs     Financial aid       Are any financial aid programs tailored especially to parents of post-secondary students?       Can we negotiate our child's financial aid award?       How can my child find scholarships for college?       How does the federal financial aid process work?       Is there anything I can do now so that my child can obtain more financial aid later?       What happens if our child's college does not give us all the financial aid we need?     Student loans       Are my student loan payments tax deductible?   Estate Planning   Articles     Assets       Asset protection in estate planning       Transferring your family business     Estate planning basics       Estate planning--an introduction       Facing the possibility of incapacity       Gift and estate taxes       Trust basics       Wills--the cornerstone of your estate plan     Life insurance       Life insurance: do you need it?       Planning ahead for life insurance proceeds     Probate       Understanding probate   Decision Tools     Estate planning basics       Federal estate tax estimator       Steps to estate planning success       Table of federal estate tax brackets and exemption limits   FAQs     Estate and gift tax       How can I determine what my business is worth for estate and gift tax purposes?       How can I minimize taxes on my estate?       How will estate taxes be paid if I leave no provision in my will?       I intend to make tuition payments directly to my grandchild's college, and I know this will reduce my estate. But would it be better to contribute to a 529 plan instead?       I just made a gift. Do I have to file a gift tax return?       If I am the account owner when I die, will the value of my 529 account be included in my estate?       The death benefit from insurance on my life will be paid to an irrevocable life insurance trust (ILIT). What if those funds are needed to pay my estate taxes?       What is a family limited partnership, and will it help reduce estate taxes?       What is the applicable exclusion amount?       Will the value of my 529 account be included in my estate or my beneficiary's estate?   Personal Finance   Articles     Managing credit and debt       Contemplating bankruptcy       Credit traps for the unwary       Understanding your credit report   FAQs     Credit basics       How can I correct errors on my credit report?       How can I figure out my net worth?       How can I protect myself against identity theft?       How long should I keep copies of my tax returns?       Should I invest my extra cash or use it to pay off debt?   Tax Planning   Articles     General tax planning       Am I having enough withheld?       Choosing an income tax filing status       Help! I can't pay my tax bill       Income tax planning and 529 plans       Surviving an audit       Tax benefits of home ownership       Tax planning for income       Tax planning for the self-employed       Taxation of investments       Year-end tax planning     Tax credits and deductions       Education tax credits       Personal deduction planning       Qualifying for the home office deduction       Understanding personal tax credits   Decision Tools     General tax planning       Accelerating deductions/postponing Income       Accelerating income/postponing deductions       Federal individual income tax fundamentals       Remarriage with children: income tax considerations   FAQs     General tax planning       Am I having enough tax withheld from my paycheck?       Are my Social Security benefits subject to income tax?       Are scholarships and grants subject to federal income tax?       Do I have to file a federal income tax return?       How did the Jobs and Growth Tax Relief Reconciliation Act of 2003 change capital gains tax rates?       I don't have the cash to pay my taxes. What can I do?       I have investment property. What does basis mean, and how do I determine the basis of my property?       I received a state tax refund last year. Must I include that amount as income on my federal return this year?       My spouse passed away this year. When I file my taxes, what filing status should I claim?       What is my tax bracket?       What is the alternative minimum tax?       What is the basis of property received as a gift?       What is the kiddie tax?       What penalties and interest will I be charged for paying and filing my federal income taxes late?       What's the difference between an "injured spouse" and an "innocent spouse"?       Will I have to pay tax on my investment income?     Taxes and child support/alimony       Are alimony payments considered taxable income?       What are the tax implications of child support payments?