Tax reform changes to employee benefits tax breaks: 4 negatives and a positive

The Tax Cuts and Jobs Act (TCJA) includes many changes that affect tax breaks for employee benefits. Among the changes are four negatives and one positive that will impact not only employees but also the businesses providing the benefits. 4 breaks curtailed Beginning with the 2018 tax year, the TCJA reduces or eliminates tax breaks […]

‘Extender’ bill revives some expired tax provisions

Congress approved this month some last-minute tax law changes to extend some expired provisions into the 2017 tax year. The Bipartisan Budget Act of 2018 extends some tax provisions that expired at the end of 2016. It is commonly referred to as an “extender” bill because it extends expired provisions through the 2017 tax year. […]

Beware of emerging phone scam involving claims concerning certified mail

After reports in recent years of a series of scams targeting taxpayers, con artists have upped their game in a way to make their scams appear more legitimate. The IRS reported this month that there is a new scam linked to the Electronic Federal Tax Payment System (EFTPS), where fraudsters claim that the IRS had […]

Final responsibility for payroll taxes lies with employer

Many of our clients contract with a payroll service provider to take care of payroll tax filing responsibilities. It is important to remember, though, that the ultimate responsibility for withholding income tax and both the employer and employee portions of Social Security and Medicare taxes lies with the business owner. While most payroll service providers […]

Small businesses are a rich target for scams

Some of these scams have been around for a long time, but bear repeating. Here, courtesy of AARP, are some of the most common ploys targeting small- and medium-sized businesses: Phishing emails: Schemers will take names and titles of executives from LinkedIn or corporate websites to spoof internal messages where they pose as the CEO […]

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 […]

Sparkmon’s 4th Annual Pumpkin Carving Contest

Happy Halloween! In celebration of this year’s “Day of Too Much Candy,” we held our 4th annual pumpkin carving contest. Competition was fierce, but only one can earn the #1 spot. And the winner is……Candy Corn! Have you carved an amazing pumpkin for this Halloween? We’d love to see, so share your photos on our […]

Join Sparkmon at the Baltimore Washington and Raleigh McDonald’s ROA 2016 Events

Be sure to swing by the Sparkmon & Associates booth and say “Hello!” during the upcoming Baltimore Washington and Raleigh McDonald’s ROA 2016 events. Several of our team members will be in attendance, including Carrie Smith and Amy Williams (Baltimore Washington event) and Richard Sparkmon, Emmitt White, Carolyn Allen, Tammy Howell and Kurt Kinoshita (Raleigh […]

Join Sparkmon at the McDonald’s Atlanta ROA Event

Several of the Sparkmon team will be attending next week’s McDonald’s Atlanta ROA event, including Emmitt White, Richard Sparkmon, Heidi Pearson, Tamra Newman and Kristin Ward. This event is held annually and hosts the best and brightest in the McDonald’s Atlanta region, providing a venue where owner/operators can learn best practices and what is on […]