Brenda H Pressley, CPA, PA

Brenda H Pressley, CPA, PA Brenda H. Pressley, CPA, PA is a full-service accounting firm serving individuals and owners of smal

08/07/2024

An operating agreement is an agreement, usually a written document, that sets out the rules by which a LLC is to be operated. It is the LLC equivalent of corporate bylaws or a partnership agreement.

08/06/2024

One of the main benefits of turning your hobby into a business is deducting all your qualified business expenses, even if it results in a loss.

08/05/2024

Each year standard mileage rates for business travel, medical driving, moving mileage and mileage rates for charitable driving are set by the IRS. Track your applicable mileage in an auto log. This log is required to ensure your deduction is not disallowed during the course of an audit. Please make sure the business/charitable/medical purpose, date and distance is clearly noted.

08/02/2024

Pleasure in the job puts perfection in the work.

08/01/2024

The Alternative Minimum Tax is a tax imposed to back up the regular income tax imposed on corporation and individuals to assure that taxpayers with economically measured income exceeding certain thresholds pay at least some income tax.

07/31/2024

Cancelled debt is included in income unless it is specifically excluded by some provision in the tax code. Thankfully, certain types of debt forgiveness are generally excluded from income (e.g., discharge in bankruptcy under Title 11, a discharge when the taxpayer is insolvent outside of bankruptcy, qualified farm indebtedness, and qualified real property business debt).

07/30/2024

Passive Income includes income derived from such sources as dividends, interest, royalties, rents, amounts received from personal service contracts, and income received as a beneficiary of an estate or trust.

07/29/2024

A deduction reduces your taxable income, and a credit is a dollar for dollar offset against your computed tax liability. Some credits are refundable, meaning that if your credit is larger than your tax liability, the IRS will pay you the difference.

07/26/2024

“Success is the sum of small efforts, repeated day in and day out.”

07/25/2024

Taxable income is generally equal to a taxpayer's adjusted gross income during the tax year less any allowable exemptions and deductions.

07/24/2024

Just Got Married? You will need to recalculate your payroll withholdings and file new W-4s reflecting your new status. If both of you work, your combined income could put you in a higher tax bracket. This can result in reduced and phased-out benefits.

07/23/2024

A limited liability company (LLC) is a business structure in the U.S. that protects its owners from personal responsibility for its debts or liabilities. Limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship.

Address

120 S. Village Lane, Ste C
Davidson, NC
28036

Opening Hours

Monday 8:30am - 5pm
Tuesday 8:30am - 5pm
Wednesday 8:30am - 5pm
Thursday 8:30am - 5pm
Friday 8:30am - 5pm

Telephone

(704) 892-1914

Website

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