Thomas J. Rollins, CPA is a full-service accounting firm located in Raleigh, North Carolina, and serving clients throughout the Carolinas. We are dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs. On this website, you will find information about Thomas J. Rollins, CPA, including our list of services.
We have also provided you with online resources to assist in the tax process and financial decision-making. These tools include downloadable tax forms and publications, financial calculators, news and links to other useful sites. Whether you are an individual or business, Thomas J. Rollins, CPA has years of valuable experience assisting clients with their tax and accounting needs.
We have also provided you with online resources to assist in the tax process and financial decision-making. These tools include downloadable tax forms and publications, financial calculators, news and links to other useful sites. Whether you are an individual or business, Thomas J. Rollins, CPA has years of valuable experience assisting clients with their tax and accounting needs.
Services
Our firm, located in Raleigh, NC, was originally founded in 1950 by J. Gordon Riddick. In 1987, Gordon Riddick formed a partnership with Tom Rollins establishing Riddick & Rollins. Gordon Riddick retired in 1997 and Tom Rollins acquired the remaining interest in the firm. Michelle Robbins, Tom's daughter, joined the firm in 2012 after starting her career with Ernst & Young LLP upon receiving her Master's Degree in Accounting.
Have you just started a new business? Did you know expenses incurred before a business begins operations are not allowed as current deductions? Generally, these start up costs must be amortized over a period of 180 months beginning in the month in which the business begins. However, based on the current tax provisions, you may elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred.
Following are some generally recognized financial planning tools that may help you reduce your tax bill. Charitable Giving - Instead of selling your appreciated long-term securities, donate the stock instead and avoid paying tax on the unrealized gain while still getting a charitable tax deduction for the full fair market value.
NTA Blog: Lifecycle of a Tax Return: Correspondence Audits: Increased Communication Alternatives Are in Progress. NTA Blog: Lifecycle of a Tax Return: Correspondence Audits: Increased Communication Alternatives Are in Progress In my 2020 Annual Report to. The post NTA Blog: Lifecycle of a Tax Return: Correspondence Audits: Increased Communication Alternatives Are in Progress appeared first on Taxpayer Advocate Service.
The process of passing a family business onto the second generation is so difficult that not even a third of them survive. Beyond that, roughly half make it to a third generation. In a normal day in the U.S., 40 percent of businesses are confronted with a change of owners. Those who have founded the companies are struggling to find remedies, but there aren't many options.
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