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Adam Shay

Managing Partner, Adam Shay CPA, PLLC
BIO

Adam Shay, CPA (NC License Number 35961), MBA, is managing partner of Adam Shay CPA, PLLC. Over the last several years, the firm has grown from a one-man shop to one of the largest firms in the Wilmington area. Adam focuses on min  

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Financial
Dec 14, 2018

Qualifying Opportunity Funds: The New Holy Grail of Tax Deferral?

A frequent question that we get upon a large capital gain event (think business exit) is “What can I do to minimize my taxes from this sale?”  The answer used to be, “Not muc ...

Financial
Nov 30, 2018

Are You Ready to Get 20% of Your Business Income Tax-Free?

The new tax law contains one of the most exciting provisions we have seen in recent years. There is a new Qualifying Business Income (QBI) deduction that could allow you to receive up to 20 percent ...

Financial
Nov 15, 2017

Leadership Lessons From The Battleship

Our team was fortunate enough to recently take part in a lunch-and-learn Academy Leadership session with Ron Hewett at the USS North Carolina.  It was an interesting afternoon spent discoverin ...

Financial
Nov 3, 2017

Cucalorus: No Longer Just Film

November is finally here.  For many people in the film industry, that means it is time for the annual Cucalorus Festival (Nov. 8-12).  However, since 2014, Cucalorus has expanded its o ...

Financial
Oct 2, 2017

The 2017 Tax Reform Framework

Did you realize the US income tax code has not had a major overhaul since 1986? The GOP Tax Reform Framework has recently been released. I’ll do my best to summarize various items that have b ...

Financial
Sep 11, 2017

Equifax Breach Highlights The Need To Protect Against Tax Identity Theft

The Equifax data breach announced on September 7 has the potential to greatly increase the amount of tax identity theft.   While not widespread, we definitely see cases of income tax identity t ...

Financial
Sep 1, 2017

Do You Need A Virtual CFO?

Most entrepreneurs do not have enough hours in the day to get everything done. They have to prioritize what they are going to get accomplished and when.  Often, it's the financial side of ...

Financial
Aug 1, 2017

2017 Tax Changes: The Million Dollar Question

Did you realize the U.S. income tax code has not had a major overhaul since 1986?  Now that the Affordable Care Act reform effort appears to be behind us, Washington has indicated an area of f ...

Financial
Jul 14, 2017

A Guide To The IRS Collection Process

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (NC License Number 33577), an associate at Adam Shay CPA, PLLC. The IRS Collection Process is a series of actions the IRS t ...

Financial
Jun 30, 2017

What’s Your Plan?

All too often, entrepreneurs get stuck in the weeds of running their business and don't take the time to step back and plan what they want their business and life to look like. They just take thei ...

Financial
Jun 16, 2017

Elder Exploitation And Prevention

This Insights article was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (NC License Number 33577), an associate at Adam Shay CPA, PLLC. I recently had the opportunity to listen to Jane Jo ...

Financial
May 15, 2017

Why Did I Get Audited By The IRS?

This Insights article was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (NC License Number 33577), an associate at Adam Shay CPA, PLLC. IRS examinations and appeals are par ...

Financial
May 1, 2017

Protect Against Tax Identity Theft

While not widespread, we definitely see cases of income tax identity theft each year.    The way the scam typically works is that criminals steal someone's social security number via a ...

Financial
Apr 14, 2017

Who Earned What?

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (NC License Number 33577), an associate at Adam Shay CPA, PLLC.   This article is intended to communicate a very narrow ...

Financial
Apr 3, 2017

The Evolution Of Self-Employment Taxes And The Reasonable Salary

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (NC License Number 33577), an associate at Adam Shay CPA, PLLC. S corporation (S Corp) taxation is a popular election for m ...

Financial
Mar 15, 2017

Managing Stress Can Lead To Entrepreneurial Success

As my company continues to grow in scale, and as we work with entrepreneurs doing the same, I have realized that personal stress levels can get in the way of success and overall happiness.  I&rsq ...

Financial
Mar 1, 2017

Open Source Ledgers Are Coming

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (NC License Number 33577), an associate at Adam Shay CPA, PLLC. Many people are familiar with Bitcoin, a popular cryptocurr ...

Financial
Feb 15, 2017

Poor Company Culture Can Lead To Fraud

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (NC License Number 33577), an associate at Adam Shay CPA, PLLC. Occupational fraud is a complicated issue to manage. The &l ...

Financial
Feb 1, 2017

Your Path (Act) To R&D Tax Credit

This Insights was contributed by Caroline Ballance, CPA (NC License Number 39017), an associate at Adam Shay CPA, PLLC. With the onset of the New Year, we have new and exciting changes for tax cred ...

Financial
Jan 2, 2017

How To Incentivize Employees With Equity Ownership

As we've seen more scalable startups in the Wilmington area, we've received an increase in inquiries as to how to incentivize employees with equity ownership.  There are a couple of di ...

Financial
Dec 15, 2016

Potential Tax Changes Under Our Next President

Our most recent election cycle was brutal and challenging. We now know that Donald J. Trump will be the 45th President of the United State of America. Given that, it makes sense to look at his pote ...

Financial
Dec 1, 2016

Start Shaping Your Tax Situation Now

The year is almost over, so you have only a few more weeks to shape your 2016 tax situation.  With tax rates expected to decrease in 2017, it may be more important than ever to take advantage ...

Financial
Nov 15, 2016

Prepare Now For 2017 Tax Deadline Changes

Human beings are creatures of habit. We clearly see that in the tax side of our practice - our returning customers almost always file the same week they did the previous year. For some people that may ...

Financial
Nov 1, 2016

Missed The Tax Deadline? Don't Worry But Don't Wait

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (NC License Number 33577), an associate at Adam Shay CPA, PLLC. Another tax season has come to a close. Many people asso ...

Financial
Oct 17, 2016

The Right Questions To Ask Any Advisor

Finding the right service provider, whether it is a CPA firm, attorney or something else, is an important decision-making process.  Ideally, you'll have a long relationship with that servi ...

Financial
Oct 3, 2016

A Guide To Tax Notices And How To Handle Them

It's one of the least favorite things for someone to receive in the mail - the infamous tax notice. Whether you're a business owner or an individual, if you live long enough, you can expect ...

Economic Development
Sep 1, 2016

A New Approach To Wilmington's Growth

Wilmington is a great area to live and work, attracting very talented individuals and companies due to the quality of place. From its early days as a major port, Wilmington has historically been an in ...

Financial
Aug 23, 2016

Complying With New Federal Overtime Regulations

Earlier this summer, the Department of Labor updated the Fair Labor Standards Act (FLSA). The regulations regarding overtime pay for white-collar workers were last updated in 2004. The new changes tak ...

Business Growth
Aug 15, 2016

It’s All About Pace

At our CPA firm we are fortunate enough to work with a variety of business owners within a variety of industries. It’s what keeps our days fun. We work with some businesses that are well establi ...

Business Growth
Aug 1, 2016

Sale-Leaseback Strategies For Exit And Growth

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (N.C. License Number 33577), an associate at Adam Shay CPA, PLLC.   It’s not uncommon for a business owner to dec ...

Other
Jul 15, 2016

Internal Control – How Sweet It Is

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (N.C. License Number 33577), an associate at Adam Shay CPA, PLLC.   Internal control, as defined in accounting and audi ...

Business Growth
Jul 1, 2016

Lessons Learned From Elon Musk

On Thursday, March 31, my wife drove two hours each way and waited in a two-hour line for us to put down a reservation on the design-yet-to-be-released Tesla Model 3. It was a phenomenon experienced n ...

Financial
Jun 15, 2016

Plan For Your Business Exit

As a business owner, much of your personal wealth is tied up in your business. It makes sense to optimize the sale of your most valuable asset. All too often our firm comes across cases (usually on th ...

Financial
Jun 1, 2016

How To Prevent Elder Fraud, Part 2

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (N.C. License Number 33577), an associate at Adam Shay CPA, PLLC, and Jennifer Roden, an associate attorney with Craige & ...

Financial
May 15, 2016

Understanding Financial Elder Fraud

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (NC License Number 33577), an associate at Adam Shay CPA, PLLC, and Jennifer Roden, an associate attorney with Craige & Fo ...

Financial
May 1, 2016

Lessons From Great Wolf Lodge

If you have a child under 10, chances are you know about Great Wolf Lodge. Great Wolf Lodge has 13 locations around the country. In explaining it to people, I refer to it as as a “poor man&rsquo ...

Financial
Apr 15, 2016

Company Culture As A Critical Success Factor

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (NC License Number 33577), an associate at Adam Shay CPA, PLLC.   I have been working at Adam Shay CPA, PLLC for six mo ...

Financial
Apr 1, 2016

The Vicious Self-Employed Tax Cycle

This Insights was contributed by Meridith Belcher, an associate at Adam Shay CPA, PLLC. Picture this: You are self-employed. You are meeting with your tax accountant to complete your taxes by ...

Financial
Mar 15, 2016

How Should You Price Your Product Or Service?

The old-school thought process in pricing products is to take your cost and add to it some sort of markup to cover the product, overhead and profit to determine the final price of your product or serv ...

Financial
Feb 15, 2016

Why We Always Need To Be Innovating

The old adage is, "If you're not growing, you're dying." That may be a little extreme but it does have some ounces of truth to it. As a leader of a growing business, I know there are ...

Financial
Feb 1, 2016

Help Us Help Others

This Insights was contributed by Meridith Belcher, an associate at Adam Shay CPA, PLLC.   We are fortunate enough to have a growing business and client base, and enjoyable day-to-day lives. It ...

Financial
Jan 15, 2016

Blood From A Turnip

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (N.C. License Number 33577), an associate at Adam Shay CPA, PLLC.   While exhibiting at the 2015 N.C. Bar Association ...

Economic Development
Jan 1, 2016

Why I Am Excited About Starting A WALE Of A New Year

Many members of our community have worked hard over the past few years to build the Wilmington entrepreneurial ecosystem. The UNCW Center for Innovation and Entrepreneurship, tekMountain, Cucalorus CO ...

Financial
Dec 15, 2015

Modern Family

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (N.C. License Number 33577), an associate at Adam Shay CPA, PLLC.    Since the dawn of civilization, men and women ...

Financial
Dec 1, 2015

Don’t Be Afraid To Soar In The Cloud

This Insights was contributed by Lauren McKenzie, CPA (N.C. License Number 36563), an associate at Adam Shay CPA, PLLC.   In today’s world there are plenty of stress-inducing burdens faci ...

Financial
Nov 15, 2015

Caveat Venditor – Seller Beware?

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (NC License Number 33577), an associate at Adam Shay CPA, PLLC.    We have all heard the phrase “Let the buy ...

Economic Development
Nov 1, 2015

Attend Cucalorus CONNECT November 11-15

Like every November for the past 20 years, the Cucalorus Film Festival will take place in Wilmington. However, this year there is a new twist for the business community with the launch of Cucalorus Co ...

Financial
Oct 15, 2015

Why Entrepreneurship Is Optimism In The Future

Entrepreneurship is building a high growth, scalable business. It's different than general business ownership, which can be a lifestyle business, earning a living or the like. Entrepreneurship inv ...

Financial
Oct 1, 2015

Litigation: Making Cents Out Of All The Numbers

This Insights was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (NC License Number 33577), an associate at Adam Shay CPA, PLLC.  If you are considering civil litigation as a means of ...

Business Growth
Sep 15, 2015

What Are Your 5 Pillars?

I am a huge University of Virginia (UVA) basketball fan and can't wait for basketball season to start (let's skip football season). I remember when UVA hired Tony Bennett in 2009 and many fans ...

Financial
Sep 1, 2015

Problem Solving Requires Valid Data

I was recently listening to The Soul of Enterprise podcast during one of my morning runs and one of the hosts (a consultant) said: "Problem solving requires valid data." That statement is so ...

Financial
Aug 15, 2015

Why Discounts Can Destroy Your Business

Some businesses try to make a go of it by living (and often dying) through discounting. It can be a way to build up a quick initial customer base. Unfortunately, businesses will often attract the most ...

Financial
Aug 1, 2015

The Role Of A Virtual CFO

While the term “virtual CFO” may be overused to a certain extent, it's frequently referenced because it is an important role in today's business environment. Many small and medium- ...

Business Growth
Jul 15, 2015

Business Is About More Than Numbers

You may find it amusing that an accountant is writing to tell you that business is about more than numbers, but I truly believe that to be the case. Entrepreneurs who are driven solely by quests for w ...

Business Growth
Jul 1, 2015

Why You Should Be Using KPIs

Key Performance Indicators or Key Predictive Indicators (both KPIs) are a great way to drive the performance of your business. While they are more commonly used for businesses, they can also be used t ...

Financial
Jun 15, 2015

Why You Should See Your CPA More Than Once A Year

Many people have the view that you only see your CPA once a year – at tax time. However, with that approach people are typically leaving money on the table. While keeping clients in compliance i ...

Financial
Jun 1, 2015

Why You Should Leave Cash In Your Business

Starting and running a business can be tough because of the financial strain, hours and various associated stresses. However, it can also be very rewarding. One of the biggest challenges entrepreneurs ...

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Cape Fear Museum of History and Science has received a coveted designation. The museum is now one of only seven organizations in the state t...


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A Wilmington-based company that produces motorized pulleys for a variety of markets has moved into a new, larger space to meet an increasing...


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Like many oyster farmers in the area, Conor MacNair had to contend with damage from Hurricane Florence as well as customer perceptions about...

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