Christmas with Ronald McDonald House Charities
Sparkmon & Associates, CPAs, helped make the holiday season a lot brighter for families at the Ronald McDonald Houses. Tracy Young coordinated the gift drive this season, and Landon Cheek and Hillary Daniel delivered the truckload of toys, dolls, books and other gifts, along with several bags filled with personal hygiene items to the Ronald […]
Holiday Cookie Swap
The cookies brought in for the inaugural Cookie Swap didn’t last long, but the recipes included with each selection will help make them a part of the Sparkmon & Associates’ holiday tradition.
2016 Sparkmon Holiday Party
The Sparkmon & Associates, CPAs, family celebrated the holiday season with food, fellowship and great music with its 2016 Holiday Party at the Listening Room at the Irish Bred Pub on the Square in Covington.
Tax deadline extended for disaster victims in Ga., Miss.
Those who live or who own businesses in the federally declared disaster areas across the Southeast following severe storms and tornadoes in January will have additional time to file and pay taxes. The IRS has announced that certain counties in Georgia and Mississippi will now have until May 31, 2017, to file their income tax returns […]
Tax deductions for charitable giving require documentation
How much did you donate to charity last year? Can you prove it? In order to take all the charitable contributions you are due on your taxes each year, you must provide documentation of the amount donated and to which organization. The rules vary based on the type of donation – cash, in-kind, property, securities, […]
Look closely at real estate investment ventures
Not all offers to invest in property are created equal. The IRS recently announced that it plans to treat one real estate investment strategy that is growing in popularity as a tax scheme. On Dec. 23, 2016, the IRS announced that syndicated conservation easement transactions amount to tax avoidance transactions. This is the latest move […]
Payroll tax scam resurfaces this tax season
Tax season is heating up and so are scams. The scams take different shape, but are all after one thing: Your money. The IRS and state tax agencies recently issued a warning about a W-2 email phishing scam that is becoming common for this time of year. The W-2 scam first appeared last year when […]
N.C. updates sales tax requirements
The cost of updating and remodeling restaurants in North Carolina, as well as repairing and maintaining property, will soon increase. The state recently enacted changes to its sales and use tax regulations. The sales tax has now been expanded to include repairs, maintenance and installation to real property, certain capital improvements and digital property. Repairs, […]
Too many passwords? Get one and be more secure
Technology continues to be a top-seller during the holidays and it’s likely that many purchased or received new computers or smart devices this season. These devices certainly make our lives easier, more productive – and less secure. Even as I was writing this column, I was reminding someone of the importance of keeping devices secure […]
Assess the value: Are you paying too much property tax?
Property tax: a hidden – but significant cost – to any business owner. According to information provided recently by one industry expert, commercial property taxes constitute about 40 percent of occupancy costs. This is compared to income tax, which is generally 4.5 percent of the cost of occupancy, and sales and use tax, which comprise about […]