IBCVI & CO

IBCVI & CO IBCVI & CO. Is a Financial Management Consulting Company offering a full array of services for both

We are experts in personal and business development, financing, taxes and wealth building.

If you have a health care FSA, you may need to use your 2025 balance by Dec. 31 or lose it. But some FSAs offer a 2 1/2-...
10/28/2025

If you have a health care FSA, you may need to use your 2025 balance by Dec. 31 or lose it. But some FSAs offer a 2 1/2-month grace period or let you roll over up to $660 for use in 2026. Check with your employer to see what your FSA allows. We can answer questions about what expenses can be paid or reimbursed by your FSA and help you determine whether there are additional year-end tax planning steps you can take related to health care expenses.

If you ever wonder how your company’s financial results stack up against others in your industry, consider a benchmarkin...
10/27/2025

If you ever wonder how your company’s financial results stack up against others in your industry, consider a benchmarking study. It can show you exactly where you stand. Contact us to get started. We'll help you compare key financial metrics, highlight what you're doing well and uncover areas that need attention. From there, we’ll build a strategy to strengthen your financial footing, seize growth opportunities and minimize threats in an ever-changing market. Let’s turn your financial statements into action plans!

Adopting a child is expensive, but adoptive parents may qualify for a tax break to offset some of the costs. Under the O...
10/24/2025

Adopting a child is expensive, but adoptive parents may qualify for a tax break to offset some of the costs. Under the One, Big, Beautiful Bill Act (OBBBA), the tax break got better for some parents. For 2025, the maximum adoption credit is $17,280 of qualified expenses, with phaseouts for higher-income parents. Under prior law, the credit was nonrefundable, meaning that it was limited to the taxpayer’s federal tax liability. However, under the OBBBA, up to $5,000 of the adoption credit is refundable, starting in 2025. After 2025, the refundable amount will be indexed for inflation. Any nonrefundable amount can be carried forward. There may also be state tax benefits. Questions? Contact us.

Running a business is challenging. Managing the finances of your business doesn’t have to be. From bookkeeping and accou...
10/22/2025

Running a business is challenging. Managing the finances of your business doesn’t have to be. From bookkeeping and accounting to tax planning and business advisory, we provide comprehensive services designed to keep your business on track and winning. Let us handle the numbers so you can focus on what matters most: operating a profitable business.

Does your company’s month-end close drag on for days, or even weeks? Speed matters. The longer it takes to post monthly ...
10/21/2025

Does your company’s month-end close drag on for days, or even weeks? Speed matters. The longer it takes to post monthly journal entries, reconcile accounts, prepare internal financial statements and investigate variances, the harder it is to identify and respond to red flags and new business opportunities. These tips can help you close the month quickly. For more ideas on how to streamline your closing process without compromising financial accuracy, call us.

For cash-based businesses, meticulous recordkeeping is essential. Because cash transactions are harder to verify, they i...
10/20/2025

For cash-based businesses, meticulous recordkeeping is essential. Because cash transactions are harder to verify, they increase the risk of underreporting income and attracting IRS scrutiny. The IRS closely monitors such businesses, using tools like cash flow analysis, bank deposit comparisons and lifestyle audits to estimate actual income. If discrepancies arise, the IRS may calculate your income based on estimates, potentially resulting in higher taxes than necessary. Contact us for help with your business.

Being prepared for disasters is always important. But the IRS warns that you should also be on the alert for an uptick i...
10/17/2025

Being prepared for disasters is always important. But the IRS warns that you should also be on the alert for an uptick in scams aimed both at survivors and those who donate to help them. Scammers often sweep in after a disaster to solicit donations. They may pose as employees of federal agencies or legitimate charities. In many cases, they ask for donations by gift cards, cash or wire transfers. Scammers may also set up bogus websites with names similar to real charities and make false claims that your donations are tax-deductible. Contact us with questions about charitable gifts. Use the IRS's Tax Exempt Organization Search tool to verify a charity’s status and learn more details here: https://bit.ly/4pgYYiS

Starting in 2025, the cap on state and local tax (SALT) deductions increases from $10,000 ($5,000 for married couples fi...
10/15/2025

Starting in 2025, the cap on state and local tax (SALT) deductions increases from $10,000 ($5,000 for married couples filing separately) to $40,000 ($20,000 for separate filers). If your 2026 property taxes have already been assessed, prepaying them in 2025 could help you maximize your 2025 deduction. But keep in mind that the cap is reduced for taxpayers with modified adjusted gross incomes over $500,000 ($250,000 for separate filers). Let us help you determine how to incorporate the increased SALT deduction limit into your tax planning.

Engaging independent contractors can be a smart business strategy under the right circumstances. For example, your compa...
10/14/2025

Engaging independent contractors can be a smart business strategy under the right circumstances. For example, your company might experience a seasonal upswing in workload or require specialized skills for a short period. However, there can be negative tax consequences if you inadvertently mishandle the relationship and the IRS can recharacterize an independent contractor as an employee. Please contact us for help understanding the tax implications and staying in compliance.

The chart of accounts is the foundation of a company’s bookkeeping. It organizes every dollar that comes in or goes out....
10/13/2025

The chart of accounts is the foundation of a company’s bookkeeping. It organizes every dollar that comes in or goes out. But if your chart is cluttered, inconsistent or poorly structured, your financial reports will be, too. Clear account groupings, consistent labels and alignment with your reporting goals are essential for meaningful financial insights. Contact us to help design a chart of accounts tailored to your business. We’ll make it detailed enough to guide decision-making, but simple enough to stay manageable.

Does your business incur research and experimentation (R&E) expenses? The One, Big, Beautiful Bill Act reinstates the im...
10/10/2025

Does your business incur research and experimentation (R&E) expenses? The One, Big, Beautiful Bill Act reinstates the immediate deduction for research activities conducted in the United States, beginning in 2025. Before the new law was enacted, R&E expenses had to be capitalized and amortized over five years, beginning on or after Jan. 1, 2022. What if you began to amortize R&E expenses in 2022, 2023 and/or 2024? You can deduct the remaining amount on your 2025 return or split it between your 2025 and 2026 returns, rather than continuing to amortize over what remains of the five-year period. Contact us with questions.

Businesses involved in some clean energy projects and products are hurt by the One Big Beautiful Bill Act. That’s becaus...
10/08/2025

Businesses involved in some clean energy projects and products are hurt by the One Big Beautiful Bill Act. That’s because it accelerates the phaseout of certain tax credits and adds new restrictions to tax breaks related to solar, wind, and hydrogen power and electric vehicle charging stations. The dates that clean energy tax breaks end vary. Some may be available until 2026 or 2027. Contact us if you have questions about your situation. The date that projects begin construction is critical.

Address

2019 Mt Welcome
Welcome, NC
00820

Opening Hours

Tuesday 10am - 5pm
Wednesday 10am - 5pm
Thursday 10am - 5pm
Friday 10am - 2pm

Telephone

+18554593217

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