S. Preston Douglas & Associates, LLP

06/16/2026

We've mentioned this before but with the deadline looming and millions of dollars available, we want to offer this reminder.

IRS penalties during the pandemic could be refundable. July 10th is the deadline to file a protective claim. This is critical to preserving your rights while pending cases are resolved.

Read more by visiting https://spdouglas.com/archive.php?archive=062026 #5 - and contact us to review your eligibility.

06/15/2026

HAPPY MONDAY!

Recent news from the IRS tells us that more than half the U.S. states signed up to participate in the 𝐅𝐞𝐝𝐞𝐫𝐚𝐥 𝐒𝐜𝐡𝐨𝐥𝐚𝐫𝐬𝐡𝐢𝐩 𝐓𝐚𝐱 𝐂𝐫𝐞𝐝𝐢𝐭 𝐩𝐫𝐨𝐠𝐫𝐚𝐦. Is North Carolina among them? South Carolina?

Click here to find out and learn more - https://www.irs.gov/newsroom/more-than-half-the-us-states-signed-up-to-participate-in-the-federal-scholarship-tax-credit-program-enacted-under-the-one-big-beautiful-bill

And as always, please let us know if you have any questions.

06/12/2026

While this quote, or a variation of it, is attributed to different people over time, it still holds true.

As discussed in this article - https://www.kiplinger.com/business/small-business/second-quarter-q2-tax-moves-for-business-owners - Q2 is a great time for business owners to plan ahead.

Contact us today to discuss your plans going forward - www.SPDouglas.com/contact.php

06/11/2026

It is an amazing feeling to receive client reviews.

A shoutout to all who have left a Google review, like this one from Reid Caldwell,

"𝑽𝒆𝒓𝒚 𝒇𝒓𝒊𝒆𝒏𝒅𝒍𝒚, 𝒓𝒆𝒔𝒑𝒐𝒏𝒔𝒊𝒗𝒆 𝒂𝒏𝒅 𝒂𝒄𝒄𝒖𝒓𝒂𝒕𝒆 𝒘𝒊𝒕𝒉 𝒓𝒆𝒕𝒖𝒓𝒏𝒔 𝒂𝒏𝒅 𝒒𝒖𝒆𝒔𝒕𝒊𝒐𝒏𝒔! 𝑽𝒆𝒓𝒚 𝒉𝒊𝒈𝒉𝒍𝒚 𝒓𝒆𝒄𝒐𝒎𝒎𝒆𝒏𝒅 𝒕𝒉𝒊𝒔 𝒇𝒊𝒓𝒎!"

In addition to our tax services for individuals, businesses, and nonprofits, we offer a myriad of services. Please learn about them by visiting www.SPDouglas.com.

06/10/2026

Are you eligible for a COVID refund but still haven't filed your paperwork? Are you not sure how to do it?

Of course, we'd love to help you so please contact any of offices as we'd love to help you make sense of it. But if you're looking to do it on your own, here is some information that may also help - https://www.usatoday.com/story/money/personalfinance/2026/06/04/july-10-deadline-covid-tax-refund-help/90408497007/

Eligibility and claiming potential COVID-era IRS tax refunds can be complex and stressful with the July 10 deadline only weeks away. How to get help.

06/08/2026

Happy Monday!

What are the five scariest letters for a small business. A-U-D-I-T.

Although some taxpayers are randomly selected for an audit, many audits occur because the IRS has identified certain patterns or inconsistencies. Understanding where these risks typically arise can help you limit your business’s exposure.

Learn about 5 Key Audit Risk Areas -
https://spdouglas.com/archive.php?archive=062026 #2 - and contact our office if you have any concerns or questions.

06/05/2026

Is Your Bookkeeping Working For You — Or Against You?

For many business owners, bookkeeping feels like a necessary evil. Something to deal with later. A pile of receipts and a spreadsheet that's three months behind.

But here's what disorganized books actually cost you:

❌ Missed deductions at tax time
❌ Cash flow blind spots that sneak up on you
❌ Lenders and investors who can't take you seriously
❌ Decisions made on guesswork instead of real numbers

Clean, consistent bookkeeping isn't just about staying organized — it's the foundation every smart business decision is built on.

At S. Preston Douglas & Associates, we help businesses get their books in order and keep them that way — so the numbers are always ready when you need them most.

Ready to get your financials working for you?
👉 www.SPDouglas.com

&A

S. Preston Douglas & Associates, LLP is a full service tax, accounting and business consulting firm located in Lumberton, NC, Whiteville, NC, and Elizabethtown, NC.

06/04/2026

In the Throwback Thursday post, we discuss why Accounting is For The Cool Kids.

Please check it out - https://www.spdouglas.com/blog2.php - and contact us at any of our four locations to find out just how cool we can be.

06/02/2026

Does your business provide complimentary on-site food and beverages for employees? The rules for deducting certain business meals have changed for 2026.

Learn about them - https://spdouglas.com/archive.php?archive=062026 #6 - and contact us with any questions you may have.

06/01/2026

Happy Monday!

North Carolina voters will decide this fall whether to sharply lower the state constitution’s cap on income tax rates.

If approved, the constitutional cap on both individual and corporate income tax rates would be reduced from the current 7 percent to 3.5 percent, with the lower tax rate cap would apply to tax years starting on or after January 1, 2027.