A Question From a Client This week, during a meeting with a client, they asked me a question I hear all the time: "Since I own my business, do I need to put myself on payroll, or can I simply transfer money to myself whenever I need it?" It's an excellent question. Many business owners assume that simply having an LLC means they must pay themselves a salary. The reality is that it all depends on how your business is structured and how it is taxed. It All Depends on How Your B

As tax season approaches, many business owners in Raleigh, Durham, Cary, and Chapel Hill face the same question: Should I hire a CPA or a tax preparer? While both can help you file your tax return, the differences in qualifications, scope of services, and long-term value are significant. At Lifaver Trujillo, CPA, PLLC, we are a NC board-certified CPA firm serving the community throughout the Triangle area. Here's what you need to know to make the right decision. What Is a Tax

Lifaver Trujillo, CPA, PLLC — Raleigh-Durham, North Carolina A Client's Question This week, one of my clients asked me a question I hear almost every week: "Lifaver, can I deduct my truck?" He owns a small construction business here in the Durham area, and like many of my contractor clients, he uses his truck for everything—driving to job sites, hauling materials, and meeting with customers. His question was simple, but the complete answer has several parts that are worth exp

North Carolina’s sales tax rules can be confusing for small business owners, especially if you sell both products and services or operate across multiple counties. Failing to collect, report, or remit sales tax correctly can result in penalties, interest, and back taxes from the NC Department of Revenue. Here is what every NC small business owner needs to know about sales tax. Does Your Business Need to Collect Sales Tax? You must collect North Carolina sales tax if you have