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Centurion Tax & Accounting

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United States
Charlotte, NC
Centurion Tax & Accounting

We specialize in Tax and Accounting. We offer a broad range of services for business owners, executives, and individuals.

10/22/2026

If you want to sell your business, receiving the purchase price over time in an installment sale may allow you to spread your gain — and the related tax — over several years. The buyer typically makes a down payment and issues a note for the balance. Each principal payment generally includes a tax-free return of basis and taxable gain; interest on the note is taxed separately as ordinary income. This arrangement may also expand the pool of buyers or help you obtain a higher price. But depreciation recapture may be taxable upfront, and you assume the risk that the buyer won’t pay. Contact us at (704) 930-2984 to discuss the pros and cons and determine the optimal deal structure for your situation.

10/21/2026

If you disagree with an IRS decision, you may have more options than you realize. The Taxpayer Bill of Rights entitles taxpayers to a “fair and impartial administrative appeal” of most IRS decisions, including many penalties. The IRS Independent Office of Appeals is separate from the office that made the original determination and provides an impartial review of your case. You have the right to a written response explaining the Appeals decision. You may also have the right to take your case to court. Appeal deadlines can be strict, so act promptly. If you receive an IRS notice or disagree with a decision, call us at (704) 930-2984 to discuss your next steps.

10/20/2026

Looking for investments with valuable tax advantages? Stock in certain domestic C corporations can offer substantial tax savings when you sell, and the benefits have been enhanced. Investors in qualified small business (QSB) stock acquired after July 4, 2025, may be eligible for a 50% capital gains exclusion after holding the stock for three years and a 75% exclusion after four years. The previous 100% exclusion after five years is still available. The maximum exclusion also increased from $10 million to the greater of $15 million (inflation-adjusted after 2026) or 10 times the aggregate adjusted basis of stock sold during the tax year. The rules are complex, so contact us at (704) 930-2984 to learn more.

10/19/2026

Giving away assets during your life can reduce the size of your taxable estate. One option is to pay someone’s tuition or medical expenses. Such payments can be gift-tax-free — but only if you make them directly to a qualifying educational institution or medical provider. (Advancing the funds to a loved one or reimbursing previously paid expenses doesn’t count.) Unlike making gifts under the gift tax annual exclusion ($19,000 per recipient for 2026), there’s no limit on the amount of tuition or medical expenses you can pay tax-free. Call us at (704) 930-2984 to learn more about lifetime gifts.

10/15/2026

Limited partner status in a business generally offers valuable benefits, including liability protection and self-employment tax advantages. But it may also limit your ability to deduct partnership losses under the passive activity loss rules. Passive losses are usually deductible only against passive income unless you materially participate in the business. Limited partners face a tougher standard than general partners. Certain work, such as investor activities or tasks not customarily performed by owners, may not count toward material participation. Other limitations may also apply. Before investing in a limited partnership or claiming losses, contact us at (704) 930-2984 to discuss the tax implications.

10/14/2026

For small businesses that carry inventory, managing it effectively can help improve cash flow, reduce waste and keep customers happy. Make sure your staff is well trained to regularly review stock levels, track sales trends, and reorder products in a timely, cost-conscious manner. It’s also wise to identify slow-moving items and adjust purchasing decisions accordingly. Wondering how inventory management affects your financial performance? Contact us at (704) 930-2984 for insights and practical guidance tailored to your business needs.

10/13/2026

If you’ve recently received a legal settlement or award, it’s critical to understand the tax implications. Generally, compensation for physical injuries or sickness is tax-free. But awards for lost wages, emotional distress and punitive damages typically are taxable. Attorneys’ fees are another area that can trip up recipients. Even if your lawyer is paid directly out of your settlement, you’re generally taxed on the full amount before fees are deducted. This means you may owe tax on money you never actually receive. The bottom line is that the way a settlement is structured can significantly affect your tax liability, making professional guidance essential. Call us today at (704) 930-2984 for assistance.

10/12/2026

Now is a good time to review your year-to-date investment gains and losses. If you have net capital gains, consider selling investments that have declined in value to help offset your gains — a strategy known as “loss harvesting.” If you have net losses, harvesting gains by selling appreciated investments can allow you to recognize some or all of the gains tax-free. You can also generally use up to $3,000 of net capital losses to offset ordinary income. Contact us at (704) 930-2984 to discuss year-end tax planning for your investments.

10/08/2026

Are you thinking of launching a new business as a C corporation? Beware of double taxation. First, the company will pay tax at the entity level. Then the individual shareholders may owe additional tax when they receive dividends and other taxable distributions or sell their shares. Reducing corporate taxable income can lessen the impact. For example, the company can generally deduct reasonable salaries, bonuses and eligible fringe benefits provided to shareholder-employees. This strategy also has potential downsides. Choosing your business entity requires careful consideration. Contact us at (704) 930-2984 to compare your options and determine whether a C corporation is the right structure for your start-up.

10/07/2026

Tax problems can leave you tied in knots. Whether you’re dealing with an IRS notice, penalty or another tax issue, you don’t have to sort through the complexities alone. We can help untangle the issues, explain your options and determine your next steps. Contact us at (704) 930-2984 to discuss your situation.

Address

Charlotte, NC
28211

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Website

http://centuriontax.net/

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