Maurice W. Atkinson II, CPA, PLLC

Name: Maurice W. Atkinson II, CPA, PLLC
Address: 703 Massey Street, Smithfield, NC, 27577, US
Telephone: +13368997574

Home
United States
Smithfield, NC
Maurice W. Atkinson II, CPA, PLLC

06/26/2026

Final regulations released by the IRS stipulate that partnerships no longer need to provide detailed gain and loss information to selling partners by January 31. This deadline had become a contentious issue. The tax code requires that any portion of a partnership’s sale proceeds attributable to the partner’s share of unrealized receivables and inventory items be reported as ordinary income. Other sale proceeds are generally taxed as capital gains. But partnerships complained that the reporting deadline was hard to meet. Now, partnerships can provide such information to partners according to their natural end-of-year tax compliance cycle, on or with Schedule K-1. Contact us at 919-934-6000 to discuss this and other tax filing requirements for partnerships.

06/24/2026

Business owners: If you’re only reaching out at tax time, you may be missing some valuable insights. Why stop at tax filings? Let us help you make smarter business decisions year-round — from improving cash flow to navigating economic uncertainty to planning for growth. Please call us at 919-934-6000 to learn more about how we can support your strategic goals.

06/23/2026

Are you behind on federal tax payments or worried about defaulting on an IRS installment agreement? You might have more options than you realize. If your finances have changed, the IRS may let you adjust your payment plan to lower monthly payments or a new schedule. If your agreement is terminated, you can request reinstatement. You can also consider an offer in compromise, which may allow you to settle for less than you owe. If you’re facing serious financial trouble and can provide evidence of undue hardship, the IRS sometimes allows up to six months to pay. It helps to act early. Call us at 919-934-6000 with questions.

06/22/2026

No two taxpayers are exactly alike — so your tax strategies shouldn’t be either. Our firm provides customized tax planning for individuals and businesses. We can identify opportunities to reduce taxes in your specific situation while helping you stay compliant with changing tax laws. Call us at 919-934-6000 to get started.

06/19/2026

A summer job is a great way for teens to earn extra cash, but it also comes with tax responsibilities. Anyone with self-employed income over $400, such as earnings from mowing lawns or babysitting, must file an income tax return and may owe self-employment tax. If a teen works for an employer that withholds payroll taxes, the filing threshold is higher: $16,100 for 2026. In this case, the teen usually won’t owe income tax and may receive a refund if taxes were withheld. Call us at 919-934-6000 with questions.

06/17/2026

Beginning in 2026, a new 0.5% “floor” applies to charitable deductions for taxpayers who itemize. This generally means that only qualified charitable contributions that, in aggregate, exceed 0.5% of your adjusted gross income will be deductible if you itemize deductions. But a charitable deduction for cash donations is now available to nonitemizers. We can help you develop a tax-smart charitable giving strategy for 2026. Contact us at 919-934-6000.

06/16/2026

Has administrative complexity discouraged your business from offering a 401(k) plan? Take a look at the safe harbor 401(k). The employer contribution obligation generally exempts the plan from nondiscrimination testing and other onerous administrative duties. Plus, this plan enables highly compensated employees to max out their contributions and can help attract and retain workers. Typically, employees are eligible to participate if they're age 21 or older and have at least one year of service. Call us 919-934-6000 for details.

06/15/2026

While the thresholds for the 3.8% net investment income tax (NIIT) have remained unchanged since the NIIT went into effect in 2013, taxpayer incomes have generally grown significantly. So more taxpayers are getting hit with this additional tax. The NIIT applies to the lesser of your net investment income or the amount by which your modified adjusted gross income exceeds the applicable threshold. And it kicks in long before the top short- and long-term capital gains rates apply. We can help you manage potential NIIT exposure. Contact us at 919-934-6000.

06/12/2026

Boat owners may qualify for federal income tax breaks — but only if the boat meets specific requirements. For example, a vessel with sleeping, cooking and toilet facilities could qualify as a home for the mortgage interest itemized deduction. Itemizers may also be able to deduct eligible state and local sales tax paid on a boat, subject to applicable limits. Vessels used in bona fide businesses, such as charter fishing or sightseeing, can generate deductible business expenses. Before assuming your boat delivers tax savings, contact us at 919-934-6000 to learn more. We can help determine your vessel’s eligibility and provide guidance on substantiating any write-offs.

06/10/2026

If you’d like to arrange for a transfer of wealth through multiple generations, consider a dynasty trust. Assets are taxed just once, when they’re initially transferred to the trust. There’s no estate or generation-skipping transfer tax due on any subsequent appreciation in value. A drawback is that the trust is irrevocable. This means it generally can never be revised. Call us at 919-934-6000 for more details.

Address

703 Massey Street
Smithfield, NC
27577

Telephone

+13368997574

Website

http://atkinson-cpa.com/

Alerts

Be the first to know and let us send you an email when Maurice W. Atkinson II, CPA, PLLC posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Maurice W. Atkinson II, CPA, PLLC:

Shortcuts

Want your business to be the top-listed Clothing Store in Smithfield?