Richey May North Carolina

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Richey May North Carolina We transform accounting challenges into growth opportunities.

DHW is now Richey May | North Carolina
Building trust through proactive guidance since 1990, our team transforms accounting challenges into growth opportunities. DHW is now Richey May | North Carolina - Building trust through proactive guidance since 1990, our team delivers total solutions across healthcare, manufacturing, nonprofit, and other specialized industries.

Tax law changes taking effect this year will increase alternative minimum tax (AMT) risk for some higher-income taxpayer...
10/28/2026

Tax law changes taking effect this year will increase alternative minimum tax (AMT) risk for some higher-income taxpayers. For 2026, the AMT exemption phaseout thresholds are reduced and the exemption phases out twice as fast as for 2025. If you may be affected, consider the AMT before implementing income and deduction timing strategies. A move that would reduce your 2026 regular tax might provide little or no benefit under the AMT — or could trigger it. Before acting, determine whether you may owe the AMT for 2026 or 2027 and how the move would affect both calculations. We can help project your regular tax and AMT liability for both years and the potential impact of timing strategies.

As you review your business’s 2026 expenditures, pay close attention to work performed on buildings and equipment.You ca...
10/26/2026

As you review your business’s 2026 expenditures, pay close attention to work performed on buildings and equipment.

You can generally deduct ordinary repairs and maintenance expenses, but you must capitalize property improvements, including betterments, restorations and adaptations. Safe harbors may allow current deductions for some costs. Certain capitalized improvements may also qualify for a full first-year deduction through bonus depreciation or Sec. 179. Proper classification may affect recordkeeping, potential recapture and state tax deductions.

Contact us to help classify your 2026 expenditures and discuss potential tax-planning moves before year end.

Paying dividends isn’t the only way to take cash out of your C corporation. Corporate distributions are generally taxabl...
10/22/2026

Paying dividends isn’t the only way to take cash out of your C corporation. Corporate distributions are generally taxable to you to the extent of your company’s “earnings and profits,” and your company can’t deduct them.

To avoid dividend treatment, consider having your business repay bona fide loans you’ve made to it or taking out properly structured loans from it. You might also increase your compensation (as long as it’s still “reasonable”) or qualifying tax-free fringe benefits — or lease or sell assets to your business.

Before proceeding, evaluate the tax implications for you and your corporation. Contact us to review the applicable rules and determine what’s right for your situation.

Conflicts of interest don’t necessarily signal wrongdoing, but failing to disclose and manage them can expose your nonpr...
10/20/2026

Conflicts of interest don’t necessarily signal wrongdoing, but failing to disclose and manage them can expose your nonprofit to tax, legal and reputational risks. A written policy should define conflicts and establish procedures for disclosure, review and documentation. Board members with a potential conflict generally should step away from deliberations and voting while disinterested decision-makers determine whether a transaction is fair and in your nonprofit’s best interests. Annual disclosures and consistent enforcement are also essential. Contact us for help evaluating your conflict-of-interest policy and strengthening your governance practices.

Does your business accept, spend or invest in cryptocurrency? The IRS scrutinizes digital-asset transactions. Business t...
10/14/2026

Does your business accept, spend or invest in cryptocurrency? The IRS scrutinizes digital-asset transactions. Business tax returns include a question about digital assets, and brokers must report certain transactions on Form 1099-DA.

Digital assets are treated as property for federal tax purposes. Cryptocurrency accepted for goods or services is taxable income based on its fair market value when received. Selling, exchanging or spending it may create a separate gain or loss. Crypto payments to employees and contractors are subject to the usual tax-reporting rules and can produce a business gain or loss. Contact us to review your 2026 digital-asset activity and reporting obligations.

If you work remotely and split your time between two states during the year, it can create state tax issues. A state wit...
10/12/2026

If you work remotely and split your time between two states during the year, it can create state tax issues. A state with an income tax generally can tax all income of its residents and income earned within its borders by nonresidents. Residency rules vary but may consider your domicile, days spent in the state and whether you maintain a home there. Your domicile is generally your true, fixed, permanent home — the place you intend to return to. Some states may treat you as a resident for income tax purposes if you maintain a home and spend a specified number of days there. Contact us to review your situation and help determine whether you may have tax obligations in more than one state.

Disability insurance is a valuable benefit provided by many employers. It replaces a portion of the insured person’s inc...
10/08/2026

Disability insurance is a valuable benefit provided by many employers. It replaces a portion of the insured person’s income — typically 45% to 65% of pre-disability earnings. But in some cases, income taxes can take a bite out of disability benefits.

Taxability usually hinges on who paid the premiums. If your employer paid them, the payouts from the policy generally will be taxed to you just as if the income were paid directly to you by your employer. If you paid the premiums, the payments you receive generally won’t be taxable. State tax treatment of disability benefits varies.

We can help you assess how much disability coverage you need depending on the tax consequences and other factors.

Your nonprofit’s annual report is one of its most important communication tools. Waiting until year end to begin plannin...
10/06/2026

Your nonprofit’s annual report is one of its most important communication tools. Waiting until year end to begin planning it can lead to rushed content and overlooked accomplishments. Starting early gives you more opportunities to collect personal impact stories and financial highlights that demonstrate accountability and showcase your mission-driven work. Combining clear financial reporting with compelling storytelling can strengthen relationships with donors, grantmakers, volunteers and other stakeholders. Contact us to help ensure your annual report reflects your nonprofit’s financial strength and achievements.

Cultivating relationships with major philanthropists begins long before the ask. Start by understanding how affluent don...
09/30/2026

Cultivating relationships with major philanthropists begins long before the ask. Start by understanding how affluent donors make giving decisions and strengthening your relationships with their professional advisors. Then use targeted outreach to clearly communicate your organization’s impact and demonstrate sound financial stewardship. Doing this work upfront can better position your nonprofit to receive transformative, mission-advancing gifts. Contact us to learn how strong financial management and reporting can enhance your credibility with major donors and help support your long-term fundraising success.

Sole proprietors: Are you on top of your federal tax obligations? Even if your business is small, tax compliance and pla...
09/29/2026

Sole proprietors: Are you on top of your federal tax obligations? Even if your business is small, tax compliance and planning are a big deal.

In addition to reporting business income and expenses, you may owe self-employment tax and need to make quarterly estimated payments. You might also need an employer identification number (for example, if you hire employees). State and local income, sales, payroll, and other tax requirements may apply, too. Careful planning can help you maximize deductions and choose the right retirement plan for your situation.

Contact us to learn more about the tax aspects of being a sole proprietor, including the reporting and recordkeeping requirements.

Address

209 13th Avenue Pl NW Ste 200
Hickory, NC
28601

Opening Hours

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

Telephone

(877) 322-2070

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