Smart Moves for Staying Compliant and Maximizing Deductions In today’s booming gig economy, millions of Americans are earning income through freelancing, ride-sharing, food delivery, online services, and short-term contracts. But with that freedom comes the responsibility of managing your own taxes — and it’s not as simple as it seems.
The Internal Revenue Service (IRS) is facing a potential crisis for the 2026 tax filing season due to shrinking budgets and staffing shortages, according to a warning from the National Taxpayer Advocate. In a recent report to Congress, Taxpayer Advocate Erin Collins expressed serious concern over the IRS’s ability to
Client Success Story: How PRC Accounting Helped a Restaurant Cut Costs and Simplify Tax Filing Running a restaurant in the U.S. is a high-stakes game. With rising food costs, tight margins, and ever-changing tax laws, many restaurant owners find themselves struggling to stay both profitable and compliant. At PRC Accounting
Client Success Story: How Better Books Led to Smarter Business Decisions At PRC Accounting & Tax Partner, we often meet small business owners who wear many hats — CEO, marketer, and sometimes, even their own bookkeeper. But one consistent trend we’ve seen is that accurate, consistent bookkeeping is a key
How Strategic Depreciation Boosted Cash Flow and Cut Taxes At PRC Accounting & Tax Partner, we help real estate investors not only stay compliant but maximize returns. One of the most powerful — and often overlooked — tools in real estate tax strategy is cost segregation. Here’s how we helped
Why Monthly Bookkeeping Is Better Than End-of-Year Catch-Up How One Raleigh Business Avoided a Costly Tax Bill by Staying Organized Year-Round Many small business owners wait until tax season to sort out their books. But this “catch-up” method often leads to missed deductions, avoidable penalties, and costly stress. At PRC
Setting Up a Solid Accounting Foundation for Long-Term Growth Starting a new business is exciting — but without a proper accounting system in place, even the most promising ventures can run into trouble quickly. At PRC Accounting & Tax Partner, we help startups not just stay compliant, but build a
Starting a new business in North Carolina is an exciting journey, but it also comes with a long list of financial responsibilities. Whether you’re launching a tech startup in Raleigh or opening a boutique in Durham, proper accounting and tax planning are essential from day one. At PRC Accounting &
Smart Moves to Maximize Deductions & Boost Profitability For real estate professionals, tax planning isn’t just about filing returns — it’s about building a strategy that aligns with your investment goals, cash flow, and long-term growth. Whether you’re a seasoned investor, a real estate agent, or a property manager, understanding
Sales tax compliance is a critical responsibility for small business owners. Failing to adhere to state and local tax regulations can result in penalties, audits, and financial setbacks. Understanding the basics of sales tax can help your business stay compliant and avoid costly mistakes. What is Sales Tax? Sales tax
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