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 […]
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 […]
2017 NBMOA Convention
Rebecca Guthrie: Building relationships to better serve our clients
For Rebecca Guthrie, it’s all about relationships. Rebecca has been a staff accountant at Sparkmon & Associates, CPAs, for a year, having begun her tenure with the firm in July 2016. As a staff accountant, Rebecca does a little bit of everything, from doing monthly accounting work for clients to preparing tax returns and financial […]
A healthy consideration
A popular incentive for business owners is to provide their employees health club or gym memberships. It is important to note, however, that employers who pay for a fitness program offsite for employees must include that cost as a fringe benefit in the employees’ compensation and report it on their W-2s. Once the membership fees […]
Back it up and forget about it
The convenience of having years of work product centralized on one computer or network can also put your business’ operations at risk if you do not have a reliable way to back up the information in the event of a system crash. An effective backup strategy is crucial for your operation, and there are many […]
How to respond to a Marketplace notification
What should you do if you receive an Affordable Care Act Marketplace notification informing you that some of your employees had applied for coverage on the healthcare exchange and are eligible for a subsidy? Consider the situation where two of the employees were offered coverage during annual enrollment while the third was not eligible due to working […]