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New South Carolina Tax Credit to Incentivize Expanding Trail System

Cherry Bekaert

Contributor: Nick Cousino, Senior Manager A new South Carolina tax credit that encourages private parties to expand the state’s ever-growing trail system went into effect May 13. The credit is nonrefundable and unused tax credit may be carried forward five years. The new credit is set to expire on January 1, 2029.

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Sales Tax Updates: What’s new in sales tax for April?

TaxConnex

In early 2025, sales and use tax filers and tax preparers will have a new self-service portal that aims to provide more control over taxpayer’s own accounts, providing faster access, easier filing and better assistance with tax account information. Sales and use will be the inaugural tax to be serviced.

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South Carolina Increases & Extends Abandoned Buildings Tax Credit

Cherry Bekaert

South Carolina legislature recently passed both an expansion and extension of the Abandoned Buildings Revitalization Act , which has been instrumental in the revitalization of abandoned and neglected properties across the state.

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Property tax 101

ThomsonReuters

Accountants who help clients effectively manage property taxes can further strengthen their role as a trusted advisor. As a significant source of state and local revenue in the United States, the importance of property taxes is not to be underestimated. How are property taxes calculated?

Tax
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Friday Footnotes: Fired Accountant Spills the Dirty Laundry; Scandals of Yore; Gen AI For Good | 1.26.24

Going Concern

According to her plea document, Fike worked at an accounting firm in Winchester from 2016 to 2021, and as part of her job had access to financial information on a client identified in the document as J.M. lived in Lexington at the time but later moved to South Carolina. Fike, of Winchester, did bookkeeping work for J.M.