S. Preston Douglas & Associates, LLP

09/01/2026

An audit provides the highest level of assurance.

An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice.

We audit: Government, Boards of Education, ABC Boards, Health Care, Non-profit Organizatons, and Employee Benefit Plans.

Please learn more - https://www.spdouglas.com/auditing.php

08/31/2026

HAPPY MONDAY!

In July 2026, the IRS began to phase in the Automatic Exemption from Penalty (AEP) program. This program automatically provides penalty relief to eligible taxpayers with a history of timely filing and payment compliance. AEP will fully replace the First Time Abate (FTA) program for eligible original returns with due dates on or after January 1, 2027.

Learn more - https://www.taxpayeradvocate.irs.gov/news/tax-tips/tips-for-taxpayers-who-may-qualify-for-automatic-penalty-relief/2026/08/ - and contact us with any questions you may have.

You may qualify for automatic IRS penalty relief. Learn how the AEP program works, which penalties are covered, and what to do if you receive a penalty notice.

08/27/2026

It's always a good day to recognize our own, Buddy McLean.

A staple in our firm, with our clients, and in the community since 1975, Buddy continues to proudly serve his clients in and around Lumberton.

Please learn more about him and our firm by visiting https://www.spdouglas.com/culbert-mclean.php

08/25/2026

𝐘𝐨𝐮 𝐚𝐫𝐞 𝐬𝐭𝐚𝐫𝐭𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐨𝐰𝐧 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬. You're shedding the 9-5 label, going out on your own, and are ready to have an immediate impact. Congratulations!

Along the way though, 𝐭𝐡𝐞𝐫𝐞 𝐚𝐫𝐞 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐭𝐡𝐚𝐭 𝐧𝐞𝐞𝐝 𝐭𝐨 𝐛𝐞 𝐚𝐧𝐬𝐰𝐞𝐫𝐞𝐝, including, who you are as a business. Are you a Partnership, a Sole Proprietor, an LLC, should you Incorporate?

Let us guide you in making the best decision not only for your business but for the tax implication of choosing one over the other.

𝑻𝒉𝒊𝒔 𝒊𝒔 𝒋𝒖𝒔𝒕 𝒐𝒏𝒆 𝒘𝒂𝒚 𝒕𝒉𝒂𝒕 𝒘𝒆 𝒉𝒆𝒍𝒑 𝒃𝒖𝒔𝒊𝒏𝒆𝒔𝒔𝒆𝒔 𝒃𝒆 𝒔𝒖𝒄𝒄𝒆𝒔𝒔𝒇𝒖𝒍.

Don't delay in making this crucial decision. Contact us - www.SPDouglas.com/contact.php - and allow us to guide you in making the right call for your company.

08/24/2026

HAPPY MONDAY!

Planning ahead is so important and with year-end fast approaching, now is a good time to review strategies that could affect your business’s 2026 tax liability.

We encourage you to read this - https://spdouglas.com/archive.php?archive=082026 #3 - and to then contact us so we can discuss how to most effectively assist you.

S. Preston Douglas & Associates, LLP is a full service tax, accounting and business consulting firm located in Lumberton, NC, Whiteville, NC, and Elizabethtown, NC.

08/20/2026

Your books tell a story.

Messy books do not just make tax season harder. They hide the story your business is trying to tell you.

Accurate, current records show you which services actually make money, where cash is leaking, and whether you can afford that next hire or piece of equipment.

Good bookkeeping is not busywork. It is the foundation of every smart decision you make, and at S. Preston Douglas & Associates, we thrive on helping set you up to let your story have a happy ending.

Contact us to speak with one of our bookkeping professionals today - www.SPDouglas.com/contact.php

08/18/2026

For homeowners facing steep property tax bills alongside high housing costs, the state and local tax deduction (SALT) may offer some federal tax relief in 2026 — especially for those in high-tax states who itemize their deductions.

Learn more - https://www.kiplinger.com/taxes/salt-deduction-gets-an-update-for-2026-taxes - and always feel comfortable contacting us with questions you may have.

A key homeowner tax break is higher this year. Here's what you need to know now.

08/17/2026

HAPPY MONDAY!

Because you're a good person, you may be inclined to help out a family member or friend who is struggling financially.

And while we think that is wonderful if you do, it's important to know the tax rules.

Learn about them here - https://spdouglas.com/archive.php?archive=082026 #6 - and contact us with any questions you may have.

08/14/2026

Does your organization need an audit? It may, if:

* A lender requires audited financials for a loan or line of credit.
* A grant or funding source asks for an independent audit.
* Your bylaws or board require one.
* You simply want added assurance that your financials are sound.

If any of these sound familiar, let's talk. Our team brings more than 80 years of experience to the table.

www.SPDouglas.com

08/13/2026

Starting a business? The decisions you make in the first year can shape your finances for years to come.

LLC or S corporation? How should you handle payroll? What can you deduct? Which records do you need to keep? Getting these right early saves money, stress, and headaches down the road.

Before you guess, talk to a CPA who has guided Carolina business owners for more than 80 years. We will help you start on solid ground.
www.SPDouglas.com.