News and Events

In November 2021, the North Carolina Department of Revenue (NCDOR) enacted new legislation to allow eligible pass-through entities (S-Corporations and Partnerships) a new tax deduction which occurs on the business returns. These pass-through entities typically do not pay income tax. The tax is normally paid at the individual level (i.e. pass-through) on the Form 1040 tax return. The […]

Martin Starnes & Associates, CPAs, P.A. is proud to announce the promotions of Kari Dunlap, Jeremy Fortner, Kelly Gooderham, Tonya Thompson, Elsa Watts and John Whitley II to Senior Manager and Jill Vang to Manager.   Kari Dunlap, CPA, has been with the firm for more than nine years with her main focus being in governmental […]

Did you know that some common summer activities might qualify for tax credits or deductions? Maybe you got married, sent children to a summer day camp, or had a part-time or summer job; make sure you file a tax return to get a refund for the taxes that were withheld. Click here to read the complete article. […]

Ana Vue recently joined our firm as a Staff Accountant. She earned a Bachelor of Arts degree in accounting and finance from Lenoir-Rhyne University. Ana graduated magna cum laude and is a member of Delta Mu Delta honor society. Ana has worked in public accounting for several years, heavily focusing on individual income tax preparation. […]

The winners of the Great Employers to Work for in North Carolina 2022 list by Best Companies Group, a BridgeTower Media Company, were recently released, and Martin Starnes & Associates, CPAs, P.A. (MSA)is honored to be ranked first among medium-sized companies in this awards program!  Best Companies Group’s annual award program identifies and honors the best places of employment […]

There are many pros and cons to hiring family members in a small business. Below are some bullet points to consider before hiring a relative: All relatives are not made equal; The tax implications can work in your favor; Make sure they are up for the task; and Beware of the pitfalls. For detailed information on […]

The Internal Revenue Service has been working diligently over the last several months to decrease their tax return inventory. As of June 10, 2022, more than 4.5 million of the more than 4.7 million individual paper tax returns received in 2021 have been processed! They are also reporting that the vast majority of tax returns filed this year […]

Are you looking for an investment that could earn 9.62%? Maybe you should research purchasing Series I savings bonds; they have a high interest rate, inflation protection and the safety of government backing. These bonds could be just what you need for your portfolio! The interest rate on these bonds increases as inflation rises, ensuring that […]

Borrowing money for college just got more expensive! Interest rates on new federal student loans are set to increase this summer with the largest percentage jump since 2013. Due to the Treasury Department’s recent auction of 10-year notes, federal student loan interest rates will rise by more than a percentage point on July 1, 2022. These rates […]