Helping in Houston
Upon seeing the devastation to the Houston area as a result of Hurricane Harvey, we felt led to help make sure some of those in greatest need were provided for. Our associates have donated $670 and our firm matched that amount for a total contribution of $1,340 to the Ronald McDonald House Houston. We are proud […]
Sparkmon & Associates goes to college
Always looking to continue hiring the best and the brightest, Sparkmon & Associates, CPAs, has hit the college circuit this fall to attend various career fairs. We have been impressed with the caliber of students we have met, and hope to see some of them again soon!
Employee or self-employed? It matters in the eyes of the tax law
Running your own business can feel like it takes more time than God created, and too often household tasks are sacrificed. Consequently, many people hire someone to help with various tasks, such as housecleaning, child care and yard work. While that may relieve the stress of completing those duties, it’s important to recognize the tax […]
Financial hardship? Your retirement plan is an option
Employers often offer their employees a retirement plan as a part of their benefits package. Since these funds are to be invested for use upon retirement, they are largely untouchable until later in life. However, sometimes real life gets in the way of a well-laid plan. The IRS does make provisions for early distributions from […]
Heidi Pearson: It all adds up
Heidi Pearson likes to play it by the numbers. This year, the numbers 2 and 15 are significant. In November, Heidi will celebrate her 15th year with the firm. She will mark in October her second year as a partner. “I have learned a lot over the past 15 years, mostly about building and strengthening […]
Tax deadline extended for victims of Hurricanes Harvey and Irma
Back-to-back hurricanes in the last few weeks have left much of the Southeast and Texas devastated, but the IRS is giving victims of these storms extra time to file tax returns. Taxpayers in those areas affected by Hurricanes Harvey and Irma that have been declared federal disaster areas are eligible for the extension of time. Taxpayers […]
Sparkmon & Associates ‘gets fiscal’ at annual Fuzz Run
Life Insurance Trust could save heirs estate taxes
Few people realize that, even though they believe they have only a modest estate, they could be leaving their families to pay thousands of dollars in estate taxes when they die. A life insurance policy that is a part of the estate could be one reason for the higher tax liability. While a life insurance […]
It’s now easier to look to IRA for college expenses
Imagine buying a new car every year for four – or five or six – years. At a cost of nearly $25,000 per year, that’s exactly what it’s like paying for a child’s college education. According to Collegedata.com, the College Board reports that a moderate college budget for an in-state public college during the 2016-17 […]
Don’t fall for student tax scams
A warning from the IRS advises taxpayers of the latest tax scam and reminds them not to fall for these kinds of common theft attempts. Trying to collect money for an unpaid “Federal Student Tax” debt is the most recent twist on the old con of pretending to be the IRS in order to steal from […]