High Point, North Carolina

Sharrard, McGee & Co., PA

Sharrard, McGee & Co., PA

1321 Long St
High Point, NC 27262
Sharrard, McGee & Co., PA, Accountants, Finance, High Point, North Carolina

Entrusting an accounting firm to manage your finances involves a significant amount of trust, a decision you should never make lightly. For almost 40 years, the residents and business owners of High Point, NC, have relied on Sharrard McGee & Co PA for expert tax preparation and accounting services. As a locally owned business with a strong reputation for taking care of their clients, you can rely on their experience and expertise in almost any situation.

Sharrard McGee & Co PA offers all the services you need under one roof, including:

  • Tax Advising & Consulting: Whether you're a private individual or a large business, their tax advisors have the expertise you need to avoid audits and minimize your liabilities. They'll help you plan your strategy throughout the year, avoiding unexpected problems during tax season.
  • Small Business Accounting: Let their experts care for your finances so you can concentrate on growing your business.
  • Small Business Advising & Consulting: From establishing your company to meeting industry regulations, they will ensure that your business is fully compliant and ready for any eventuality.

Sharrard McGee & Co PA is committed to building life-long relationships with their clients and consider themselves partners in your growth and success. Combining the personalized attention of a boutique firm with the resources of a larger, global enterprise, they offer a level of service that goes unmatched.

Visit Sharrard McGee & Co PA online to learn more about their services, or call (336) 884-0410 to schedule your free consultation today.

Announcements & Events from Sharrard, McGee & Co., PA
IRS Warns of Coronavirus-Related Tax Scams, High Point, North Carolina
The Internal Revenue Service recently issued a warning urging taxpayers to beware of scammers calling and emailing them about the stimulus payments they are expecting as a result of ...read more
IRS Taxpayer Advisory -- Accessing Updates, High Point, North Carolina
While we are consistently monitoring and alerting our clients regarding updates from the IRS, Department of the Treasury, and other government agencies, we also encourage you to acce...read more
CARES Act Update -- PPP Applications Posted, High Point, North Carolina
The Department of Treasury has released the Paycheck Protection Program application which can be accessed here: https://files.constantcontact.com/ed1fa8d5301/cefd6d3e-dfac-4657-bd19...read more
CARES Act Information: HELPFUL RESOURCES - Paycheck Protection Program CARES Act, High Point, North Carolina
Today’s blog https://www.sharrardmcgee.com/blog.phpe expands upon the information we have learned regarding the Paycheck Protection Program (PPP), part of the CARES Act.&nb...read more
CARES Act Information – Paycheck Protection Program Summary, High Point, North Carolina
Dear Clients and Friends:   As you are aware, the CARES Act was signed on Friday, March 27, 2020. The Paycheck Protection Program (PPP) section of that Act pertains to lo...read more
The Internal Revenue Service has postponed the date for filing gift tax and generation-skipping transfer tax returns and making payments until July 15, 2020, because of the COVID-19 ...read more
As changes occur almost by the hour, we continue to monitor those that affect our clients and to provide timely updates through several communication channels. Please read today’s bl...read more
The Marsh & McLennan Agency is sharing tips for business owners who are facing new challenges due to the coronavirus crisis. We are posting those that we believe will be of inter...read more
The IRS has posted answers to 24 Frequently Asked Questions about the tax filing and payment deadline delays due to the coronavirus crisis. A synopsis of these is provided in today’s...read more
The Treasury Department, the Internal Revenue Service, and the Labor Department announced that small and midsized employers can start taking advantage of two new refundable payroll t...read more
Dear Clients, Vendors, and Friends:   Due to the contagiousness of the Coronavirus, we have decided to protect the health of our employees and our clients by canceli...read more
Here’s an update to our earlier blog!  Treasury Secretary Steven Mnuchin tweeted Friday that President Trump has directed him to move Tax Day to July 15, giving taxpayers more ...read more
Yesterday a bipartisan group of senators introduced legislation to extend the tax-filing deadline from April 15 to July 15 in response to the guidance from the Treasury Department an...read more
Yesterday the IRS and Treasure provided guidance on how taxpayers can defer tax payments up to $1M until July 15 in response to President Trumps’s emergency declaration granting reli...read more
The final section of our three-part blog sharing advice from the Forbes Coaching Council on managing employees working from home focuses on creating a communications strategy, a...read more
Today’s blog continues our posting of the Forbes Coaching Council’s 15 Tips for managing employees remotely. While the article wasn’t written specifically for mitigating the Coronavi...read more
As more companies are responding to the Coronavirus pandemic by directing employees to work from home, some managers may be inexperienced with this situation. We’re sharing an articl...read more
President Trump announced a series of steps to provide financial relief from the Coronavirus pandemic during a speech last night. Tax deferrals without interest or penalties wer...read more
Congratulations to our Managing Director, Alan Scheppmann, CPA, for being named by the Business High Point Chamber of Commerce as Vision Investor of the Year “for his inves...read more
Today’s blog is Part 2 of the Center for Creative Leadership article we shared yesterday. This section explains the specific actions that men and women can take individually to suppo...read more
Does your company strive for gender equity in the workplace? Do you know what your organization and the men and women involved need to do to help support this effort?  We’re pos...read more
You might have an efficient accounting system and financial controls in place, but do your reports accurately represent the state of your company? After all, mistakes do happen ...read more
Change is inevitable. It’s natural for employees to become anxious during times of transition and even oppose new technology, processes, or organizational structures. This blog ...read more
This afternoon, for the 19th year, Mark and Rena Norcross hosted the Annual High Point MS Luncheon, with proceeds helping to provide local services to those living with MS and t...read more
Sometimes our clients ask us to help them determine if and how they can financially support a promotion. We encourage them to consider some other issues before taking that step and f...read more
If you are one of those lucky people who profit from their passion, do you know the nine factors to consider when determining whether it is a business? If you make money from your ho...read more
The newly-formed Piedmont Triad Women in Pensions Group held their February meeting at SMOHK’D Restaurant in downtown Greensboro, attended by employee benefit plan sponsors...read more
Would others describe you as an authentic leader? Are you able to balance the internal struggle of “me the manager” vs. “me the person.” Today’s blog features an article by Ravit Ore...read more
The most recent IRS Taxpayer Advisory announces proposed regulations affecting taxpayers who pay or incur expenses for meals or entertainment. These proposed regulations ge...read more
The Affordable Care Act includes provisions that impact employers based upon the number of employees in their workforce. This article explains how to determine if your company is an ...read more
Some of the very best management advice is given by our neighbor in Greensboro, the internationally-acclaimed Center for Creative Leadership. Today’s blog, based on an arti...read more
Does your company have a purpose, and does your social purpose address a business challenge? As today’s blog explains, companies are judged by those who work with them or for th...read more
We are so grateful to have wonderful clients who trust us to provide advice and expertise to start, manage, and grow their businesses. Whether they are new clients, perhaps entr...read more
It’s not unusual for those of us who made resolutions to embrace healthier habits or more productive business behaviors to realize it’s mid-February and we’ve made little or no progr...read more
Improving leadership skills is an ongoing objective for most small business owners, and an effort that pays off in so many tangible and intangible ways. But how do you set a goal and...read more
Congratulations to Sharrard, McGee & Co., PA Director Lisa Poplin, CPA, for being named as the recipient of the individual Good Friends Award at yesterday’s YWCA Heart of the Com...read more
As your small business starts to take off and expand, you’ll fill out hundreds of files and sign countless documents along the way. Naturally, you may be wondering where to keep all ...read more
An effective HR department protects the business while striving to make the employee experience better. The policies they follow and the decisions they make can significantly im...read more
SMC Audit Manager Starla C. Hughes, CPA’s article “Takeaways from the AICPA Employee Benefits Conference to Enhance Your Practice” is now posted on our website. Published in the Aut...read more
While tax time certainly creates workplace stress for those in the accounting industry, each type of business has its own set of deadlines and demands that can take a toll on employe...read more
Now that the tax filing season is open, the IRS is sending advisories on a regular basis, The most recent explains how the Taxpayer Certainty and Disaster Tax Relief Act, passed on D...read more
If you own a small business, outsourcing any aspect of your operations is a big decision. After all, it's ultimately up to you to protect the company’s bottom line. While it’s true t...read more
As you prepare to meet with your SMC tax consultant for your business and individual tax filing, it’s helpful to know some of the changes that may affect your filing so you can have ...read more
As we consult with our clients to help them build their businesses, we find that many seek support in establishing diversity, equity, and inclusion in their growing companies. T...read more
A recent article in Entrepreneur by John Boitnott highlights three areas where those contemplating starting a new business may find their expectations to be incorrect. We have worked...read more
Sharrard, McGee & Co., PA, has announced several new team members, including Staff Accountant Roberto Hernandez who has joined the Greensboro office.  Roberto holds a Bachel...read more
Sharrard, McGee & Co., PA has added several new team members including Paraprofessional Julie Leck who has joined the High Point office. Julie holds a Bachelor of Scien...read more
Sharrard, McGee & Co., PA, recently announced several new team members. Hong Chai is among the newly hired professionals working in the High Point office, serving as a Tax Superv...read more
Tax Supervisor Kerrie Brown is among the three new team members at the Sharrard, McGee & Co., PA,  Greensboro office. She earned a Bachelor of Science degree with a double m...read more
Please be advised that Users of INTUIT Online Payroll or QuickBooks Online Payroll can now file NC-3s and W-2s electronically with the North Carolina Department of Revenue. Log ...read more
In our ongoing efforts to help our clients avoid cybersecurity risks, we are sharing some important news for those managing their financial data on PCs running Windows 7 and Windows ...read more
Sharrard, McGee & Co., PA, is pleased to announce that Mohammed ElBakrawy, CPA, has joined the firm, as a Senior Accountant, working from the Greensboro office. He holds a Bachel...read more
  Tax season begins for individual filers on Monday, Jan. 27 when the IRS will begin accepting and processing 2019 returns. The deadline to file 2019 tax returns and pay the t...read more
Our blog with the first installment of the recent Forbes article by Leon LaBrecque highlighted the impact of the new SECURE Act on IRAs and 401(k)s. The second part describes how SEC...read more
The SECURE Act of 2019 has a total of 29 separate provisions, five of which are of high relevance to our clients. A recent article in Forbes by Leon LaBrecque explains these five pro...read more
Sharrard, McGee & Co., PA, will be closed tomorrow, January 1, 2020, in observance of New Year’s Day. We wish you a year of happiness, health, and growth.  The new year is ...read more
There’s still time to take advantage of the tax benefits available to small or medium-sized businesses choosing to make charitable donations before the end of the year. This article ...read more
If you run a small business, it can be difficult to anticipate your company’s needs when it comes to keeping records and filing your taxes. When companies don’t work with a dedi...read more
There are several changes in 2019 that may impact our business clients’ tax liability and we highlight these in our newsletter on our website. Some issues include standard mileage ra...read more
Sharrard, McGee & Co., PA will be closed Christmas Eve, December 24, and Christmas Day, December 25, so that our team may celebrate this joyful holiday with their families and fr...read more
Congratulations to Starla Hughes, CPA, Audit Manager, Sharrard, McGee & Co., PA, and Veronica Bray, CFC, ARPC, President of Retirement Plan Advisor Search, for hosting the first ...read more
Joanie Michael has joined Sharrard, McGee & Co., PA as Administrative Assistant in the Greensboro office. She attended Mount Olive College, where she studied Business Management ...read more
‘Tis the season for fun, fellowship and festive footwear! That was certainly the case at Sharrard, McGee & Co., PA’s Greensboro office when the team got together to celebrate the...read more
Habitat for Humanity of Greater Greensboro recently held a dedication ceremony for its first all-woman constructed house. A team for Sharrard, McGee & Co., PA helped with&nb...read more
Sharrard, McGee & Co., PA announced that Staff Accountant Kadeidra Peterson has joined our Greensboro office. She earned a Bachelor of Science degree in Accounting from Winston-S...read more
Sharrard, McGee & Co., PA announced that Staff Accountant Kevin Crooker has joined the High Point office. He earned a Bachelor of Science degree from the University of ...read more
Sharrard, McGee & Co., PA, announced that Beth McGuire, Senior Accountant, is among the new team members joining the firm’s Greensboro office. She holds a Bachelor of S...read more
Tax season is generally the busiest and most stressful time of year for business owners. While getting your tax returns completed and filed on time can be a great relief, you ma...read more
Starting a small business is the first step of an exciting adventure. It gives you a rewarding sense of freedom and the satisfaction of working for yourself. However, it’s also ...read more
Sharrard, McGee & Co., PA announced that several team members have recently joined the firm. The newly hired professionals working from the High Point office include Senior ...read more
Sharrard, McGee & Co., PA will be closed Thursday, November 28 and Friday, November 29 so that our team can spend time with their families. We wish you a happy, safe, and healthy...read more
Congratulations to Sharrard, McGee & Co., PA Audit Manager Starla C.  Hughes on the publication of her feature article “Takeaways from the AICPA Employee Benefits Conference...read more
The last five “Golden Rules” focus on flexibility, transparency, encouragement, fun in the workplace, and active listening. Not only are the rules good guidelines for manager/team in...read more
  As yearend approaches, we wanted to remind you of fringe benefits that need to be included in owner/employee W2s and will need to be reported to your payroll service (if you ...read more
Whether they are new managers who we are helping start-up their businesses, or those who have held the title for decades, all of our clients in leadership positions seek ways to be m...read more
Building your customer base is a great way to increase your revenues and grow your business. Today’s blog provides some valuable advice on creating personalized customer engagements ...read more
We continue to share the wise advice of a recent article from the Center for Creative Leadership’s website, that highlights six ways that new managers must change their thinking and ...read more
When we help entrepreneurs take their dreams and turn them into businesses, we find that becoming managers can be a difficult transition. This article by the Center for Creative Lead...read more
We share our gratitude today and every day to all the veterans who have served our country with bravery, sacrifice, and honor.  With thanks and appreciation to our veterans and...read more
The IRS announced its annual inflation adjustments for tax year 2020 in an advisory issued earlier this week. The changes are detailed in an article by Michael Cohn published in Acco...read more
If you own a small business, you often have to balance multiple responsibilities to keep your company moving forward. Due to the sheer number of tasks you need to manage to keep your...read more
As we continue sharing this article from the Talent Manager and HR website, today’s blog focuses on the approach to coaching that managers should take for effective teambuilding...read more
One of the most significant challenges facing our clients today is finding, attracting, and retaining the very best employees. A recent article by Bas Kohnke on the Talent Manager an...read more
Wondering why it’s so hard to get your business to make cultural changes to keep up with a transitioning workforce and advancing technology? Today’s blog provides ten reasons why mos...read more
The degree to which a diverse team of employees can accelerate company growth was recently measured in an “Art of Smart” study focusing on manufacturing, health care, and real estate...read more
Ever wonder why some teams are more productive? A new study shows that management practices account for 20% of the variation in productivity among certain firms – the same effec...read more
Our consultants have decades of experience helping clients take great ideas and turn them into successful and highly profitable companies. One of the first decisions we help with the...read more
Family businesses present many benefits and challenges for those involved. As trusted advisors to hundreds of these businesses over the past 40+ years, we have extensive experience h...read more
While everyone seems to have an opinion on what makes a bad leader, a consensus on how to determine quality leadership is also hard to achieve. The Center for Creative Leadership sha...read more
Although more companies are aware of the risks of fraud, a new study by the Association of Certified Fraud Examiners reveals that 49% of respondents believe they are more vulnerable ...read more
Today’s blog focuses on an issue that affects every businessperson at some time or another – always feeling overwhelmed. This article by Rebecca Zucker from the Harvard Business...read more
Today’s blog shares an article by Dan Caplinger of the Motley Fool which explains tax extenders and why certain tax breaks like the tuition and fees and private mortgage deductions m...read more
As a small business owner, you have to wear many hats, from handling human resources matters to overseeing budgets. One of the most important roles you'll play is that of busine...read more
Cost accounting helps small business owners make informed decisions and today’s article explains how. By analyzing fixed and variable costs it is possible to understand cost behavior...read more
Mohammed Elbakrawy, CPA, one of our newest team members, was among the accounting professionals honored this summer at the North Carolina Association of CPAs annual CPA Inaugura...read more
October is Cybersecurity Awareness Month and we’re sharing a blog full of great tips for understanding your risk, educating your staff, and taking action, written by Barbara Weltman ...read more
The new tax laws have brought changes that impact the divorce and alimony payments of certain taxpayers. Depending upon the type of agreement they have, some divorced and separated i...read more
If you have rental property, this article may be of great interest to you!  Safe harbor is now available for taxpayers seeking to claim the section 199A deduction with resp...read more
A team of golfers from Sharrard, McGee & Co., PA participated in the  Ed Wheeless Memorial Y Men’s Golf Tournament at Willow Creek Golf Course last week. Director Ken F...read more
As we reported on Wednesday, a Sharrard, McGee & Co., PA team donated their time to work at the Community Clinic of High Point last week as part of the North Carolina Association...read more
Members of the Sharrard, McGee & Co., PA team helped out at the Community Clinic of High Point on Friday as part of the North Carolina Association of CPAs “100 Days of Service.” ...read more
Our Controller, Nancy McRee, CPA/CGMA was photographed and featured in the recent issue of the Guilford Merchants Association Trends publication as she joined other members of the GM...read more
Keeping full and accurate homeowner records is not only vital for claiming deductions on your tax return, but also for determining the basis or adjusted basis of your home. These rec...read more
As a small business owner, retirement planning falls on your shoulders. You don’t have to offer retirement options, but doing so allows you to attract top employees. While working wi...read more
Taxpayers considering starting a not-for-profit business and want to apply for tax-exempt status under Section 501(c)(3) of the tax code, need to submit Form 1023, Application f...read more
Of all the retirement plans available to small business owners, the SIMPLE IRA plan (Savings Incentive Match PLan for Employees) is the easiest to set up and the ...read more
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer's tax liabilities for less than the full amount owed. And w...read more
The IRS recently sent out a Taxpayer Advisory reminding those who pay quarterly tax estimates that their third-quarter payment is due this Monday, September 16. The Tax Cuts and...read more
As your life evolves, so do your individual and family needs, income, and tax deductions. To avoid owing the IRS a significant balance or receiving too large of a refund that hasn’t ...read more
Today’s article is provided to help taxpayers understand when money or property that they have given as a gift is taxable. Many gifts are not subject to the gift tax, but there are e...read more
Today’s blog provides the second half of a two-part article from Accounting Today by Mark A Luscombe that highlights ten areas where taxpayers may see changes from the Tax Cuts and J...read more
We’re always interested in sharing analyses by tax professionals like our team at Sharrard, McGee & Co., PA, that address timely topics that may impact our clients. A new article...read more
In today’s blog, we share a new post from TaxBuzz.com in which Lee Reems II provides an analysis of the proposed laws being considered by Congress that relate to the Tax Cut and Jobs...read more
Sharrard, McGee & Co., PA will be closed on Monday, September 2 so that our hardworking team can spend time with their families and friends. We honor all the workers of America w...read more
While we ensure the confidentiality of our clients’ documents through a stringent shredding policy, we find that many are unsure how they should protect their company or personal sen...read more
As teachers return to the classroom, we want them to understand how the Educator Expense Deduction works – how tax reform changes some deductions, what items qualify, and how to...read more
If you receive an email claiming to be from the IRS, do not respond because it’s a scam! The IRS sent a warning today to alert taxpayers and tax preparers about emails from crim...read more
Starla Hughes, CPA and Audit Manager with Sharrard, McGee & Co., PA was among the guest speakers at the 2018 North Carolina Fiduciary Summit, part of the Retirement Plan Road Sho...read more
Today’s blog is the last in our three-part series sharing an article from Accounting Today. The piece identifies ten areas where taxpayers will continue to impacted by the chang...read more
Today’s blog is the second in a three-part series which shares an article by Ralph Carnicer from a recent Accounting Today post. He claims that the changes brought by the Tax Cuts an...read more
While 2019 was the first year the changes from the Tax Cuts and Jobs Act impacted most taxpayers, there’s more in store! Today we’re introducing a 3-part blog series that shares an A...read more
Now that several versions have been considered and submitted for feedback from tax professionals, the Treasury Dept. and the Internal Revenue Service released their almost final...read more
Today’s blog shares an article written by Accounting Today Editor-in-Chief Michael Cohn, exploring the impact the U.S. Supreme Court’s decision in South Dakota vs. Wayfair ...read more
Generating a profit and loss statement, otherwise known as an income statement or P&L statement, is among the most important accounting functions for any business. This...read more
If you thought the US Tax System was complicated, it’s even worse when you see it in detail on the new map developed by the Taxpayer Advocate Service. Today’s blog shares a post by L...read more
The special tax benefits available to members of the U.S. Armed Forces are explained in this article. They include moving expenses, combat pay exclusion, earned income tax credit (EI...read more
This article explains the two options you have for claiming deductions if you are self-employed and use your car for business. Both options are reviewed and the documentation re...read more
If your income reported from a third-party source doesn’t match the amount on your tax return, you will be sent an IRS CP2000 notice informing you about the information the IRS has r...read more
The Treasury Department has expanded the preventive care benefits that can be provided by high-deductible health plans to include a range of chronic conditions. Notice 2018-45 lists ...read more
The best advice new business owners can get it is to surround themselves with trusted advisors who can help them become among that small percentage of successful entrepreneurs w...read more
In today’s blog, we share the second part of the IRS’ tips to help taxpayers understand the impact their summer activities may have on their returns at tax season. While fewer are ta...read more
The IRS has just announced several helpful tips for taxpayers to consider during the summer months which may help when the next season rolls around. We’re sharing these tips in a two...read more
Generally, debt that is forgiven or canceled by a lender is considered taxable income by the IRS and must be included as income on your tax return. This article discusses issues rela...read more
Wishing you a healthy, happy, and safe 4th of July holiday! Sharrard, McGee & Co., PA will be closed on Thursday, July 4th so our team can celebrate our nation’s birth...read more
If you adopt a child in 2019 you may be eligible for the adoption tax credit. There are many details regarding this credit and they are outlined in our this article that focuses on c...read more
Does it seem like everyone else is looking forward to a vacation with no concerns about work, while as an entrepreneur, you don’t see any respite from your responsibilities? You are ...read more
While you may know that summer camp costs can be count as an expense toward the child and dependent care credit, do you understand all the details? In this blog, originally published...read more
In a unanimous decision last Friday, the US Supreme Court ruled that the North Carolina Department of Revenue violated the Due Process Clause of the Constitution in taxing the trust ...read more
It’s not news that dealing with the IRS creates stress. However, measuring that stress level is now a consideration based upon retiring veteran taxpayer advocate Nina Olson’s suggest...read more
If you are one of the millions who use Uber, Lyft, Airbnb, or Etsy, you are part of the sharing economy. Using these services doesn’t impact your taxes. However, if you provide servi...read more
If you feel like your 2019 tax return was significantly lower than your 2018 one, you’re not alone. In fact, the IRS reported a 26% decrease in the number of refunds given out this y...read more
“Capacity Building for Sustainability,” a free workshop sponsored by the High Point Community Foundation and the Nonprofit Consortium was presented today at High Point Universit...read more
It’s not unusual, especially this year with all the changes to the tax laws, for taxpayers to discover they have an error on their tax returns after they’ve been filed. You can corre...read more
The U.S. Department of the Treasury and the Internal Revenue Service today issued final regulations that require taxpayers to reduce their charitable contribution deductions by the a...read more
In the most recent Tax Advisory, the IRS encourages those who owe taxes and haven’t filed their 2018 return to do so before Friday, June 14 or face a penalty. Our new blog explains t...read more
The IRS’ most recent Tax Advisory reminds those who pay quarterly estimated taxes that their next deadline is June 17. This comprehensive communication explains which taxpayers ...read more
The incidence of identity theft of taxpayer’s data has significantly decreased, however, the IRS is ever vigilant about minimizing risk. That’s why as of this month, they are no long...read more
The good news is you filed your 2018 taxes on time. The bad news is that you didn’t may your payment and the IRS just sent you the bill. Don’t despair. In today’s Taxpayer Advisory t...read more
The IRS’ most recent Taxpayer Advisory suggests that those with multiple jobs or summer jobs check that they are withholding the correct amount from their paychecks. These taxpa...read more
The US tax system faces three objectives that are intrinsically conflictive; to be progressive, treat families as a unit, and provide marriage neutrality. For fifty years that the la...read more
Sharrard, McGee & Co., PA will be closed on Monday, May 27 in celebration of the brave American men and women who sacrificed in the service of our country. We wish you a happy a...read more
Thanks to the nine women from Sharrard, McGee & Co., PA who participated in the Greater Greensboro Habitat for Humanity Women Build 2019, working with the Habitat construction te...read more
Team members representing Sharrard, McGee & Co.’s High Point and Greensboro offices are participating in the North Carolina Association of Certified Public Accountants 2019 Membe...read more
If you are traveling outside of the US for your vacation this summer, you’ll want to be sure your passport is up to date and if you will need to renew it, make sure your tax bill is ...read more
Data theft continues to be a threat to individuals and businesses of all sizes. A recent report published by Becker Education shares the following statistics that warrant your consid...read more
After tax preparation is complete, you might think your tax worries are over. But for some, an unexpected tax audit can bring on a whole new kind of stress. Here is what you should k...read more
Accounting Today just published an article in which Editor-in-Chief, Daniel Hood, compares key statistics from the 2019 tax season with last year’s. We are sharing this information i...read more
Cash flow is crucial to healthy businesses, and one way to keep your forecasting on target is to be paid on time for the work you invoice. This is an area where your CPA can hel...read more
As we end National Small Business Week 2019, we offer a blog with advice about Succession Planning. This is an area that most business owners either don’t want to address or believe ...read more
The Thursday blog for National Small Business Week was written by Senior Accountant Jeremy Musgrave and provides advice about tax planning for small business owners. From staying org...read more
As we reach the middle of National Small Business Week, we continue our celebration by providing advice to owners who are considering making their passion a reality, or those wh...read more
We are celebrating Small Business Week by providing valuable tips and advice to small business owners to help them establish their new company or find ways to be more effective and e...read more
We are celebrating National Small Business Week with a series of blogs written by our team of professional accountants. Each blog focuses on a specific area of concern shared by smal...read more
The good news is that between 2015 and 2018, the number of taxpayers identified as theft victims fell by 71 percent. However, despite the steep drop in tax-related identity thef...read more
You may have already filed your tax returns, but the risk for fraud is ever-present. Each year, thousands of people lose money and confidential personal information to a variety of s...read more
The most recent IRS Tax Advisory suggests to those who have not yet filed that they do so now, even if they can’t pay, to avoid potential penalties and interest. This advisory, which...read more
Our new blog shares the news of a bill with bipartisan support in the Senate Finance Committee – the Mobile Workforce State Income Tax Simplification Act of 2019. Accounting Tod...read more
The IRS issued a Tax Advisory today recommending that taxpayers who discovered that they did not withhold enough in their paychecks, finding they needed to pay more than they ex...read more
Tax credits can reduce your tax bill or give you a bigger refund. Many taxpayers are confused about the difference between tax credits and tax deductions. This blog explains&nbs...read more
The IRS recently announced a six-year plan to modernize its IT system to the benefit of taxpayers; improving services and expanding cybersecurity and data protections. The details of...read more
Happy Easter from Sharrard, McGee & Co., PA. We will be closed on Good Friday, April 19. Best wishes for a happy, healthy and safe holiday to you and your family.   read more
We complete our three-part blog series based on the Accounting Today article by Jim Buttonow with his last three tips for handling a tax audit. We believe the 10th “Co...read more
For most taxpayers today is the deadline for filing their returns. As of Friday, the IRS reported that 50 million returns were still outstanding, and issued a Tax Advisory about dead...read more
Many taxpayers live in fear of an IRS audit. Our clients know that their tax advisor at Sharrard, McGee & Co., PA will be by their side if they are audited. It’s a good...read more
The chance of being audited by the IRS is relatively rare these days (1 out of 184 taxpayers in 2017). However, that doesn’t mean that the fear of an audit has gone away. In a recent...read more
As we enter the last stretch before the end of the tax season, there are always those who find themselves filing at the last minute. They may be the same people who shop on Christmas...read more
As the tax season is nearing the end, many taxpayers are now anxiously awaiting their refunds. The IRS has identified and dispelled five myths that have cropped up on social media in...read more
The last warning on the IRS’ “Dirty Dozen” list of tax scams is to avoid abusive tax shelters, trusts and conservation easements. In this Tax Advisory, they describe each of these sc...read more
As we near the end of the IRS’ “Dirty Dozen” list of tax scams for 2019, today’s blog warns against making frivolous and unreasonable legal claims to avoid paying taxes. Most of thes...read more
We continue to share the IRS’ Taxpayer Advisories identifying the “Dirty Dozen” most prevalent tax scams of this filing season. Today’s blog covers the crime of failing to report off...read more
This afternoon, for the 18th year, Mark and Rena Norcross hosted the Annual High Point MS Luncheon, with proceeds helping to provide local services to those living with MS and t...read more
We continue our blog series which shares the IRS Tax Advisories focusing on the “Dirty Dozen” most prevalent taxpayer scams of this tax seasons with a piece about scams that involve ...read more
As the IRS continues to share its “Dirty Dozen” list of the most prevalent tax scams to avoid this season, the most recent Taxpayer Advisory focuses on schemes involving falsifying i...read more
It’s good news to learn that thanks to cybersecurity advances there has been a significant reduction in identity theft. However, the IRS warns taxpayers not to get complacent and inc...read more
Congratulations to our own SMC Greensboro office team for being nominated by Maggie Dunn and selected by the North Carolina Association of Certified Public Accountants (NCACPA) as a ...read more
Every year the IRS publishes it’s “Dirty Dozen” list of the twelve most prevalent tax scams and provides details in a series of Tax Advisories. We share these warnings in our blogs, ...read more
Personal injury settlements tend to be sizable. Even minor injuries can cost thousands to treat, and once you take into account lost wages, the damages can quickly amount to tens of ...read more
Every tax season the IRS identifies the most prevalent tax scams,  shares them with taxpayers as the “Dirty Dozen,” and describes them in a series of Tax Advisories. They introd...read more
Accounting Today recently published the nine most “flabbergasting” questions that their CPA readers have heard so far this tax season from their clients. We published the first ...read more
  Happy International Women’s Day from Sharrard, McGee & Co., PA! We would like to recognize all women and the contributions they have made and continue to make in the liv...read more
A team from Sharrard, McGee & Co., PA joined the crowd of more than 300  supporters attending the 2019 YWCA High Point Heart of the Community Luncheon held at the ...read more
The High Point Enterprise featured a story today, “Catching up Lingers After Tax Delay,” written by Cinde Ingram, in which our own Addison Maille, CPA/JD, Tax Manager was q...read more
Tax season can be quite stressful, but Accounting Today published an article to start our week with a humorous look at the situation, curating the top nine “flabbergasting questions”...read more
The IRS published a Taxpayer Advisory yesterday highlighting the easiest way for taxpayers who have filed already and are expecting a refund to monitor its progress. Today’s blog fea...read more
Accounting Today published "Tax Season So Far: Three Weeks In," by Daniel Hood on Monday, and we have shared this information in our new blog. While the number of returns filed is si...read more
Qualified Opportunity Zones (QOZs) were created under the Tax Cuts and Jobs Act of 2017 to spur economic development and job creation. These were created to provide tax benefits to i...read more
Sharrard, McGee & Co., PA Director, Ken Fulp, CPA, explains  the tenth Key to Exceptional Client Service in our last video in this series.  His points include, “Pl...read more
This is the final blog based on the four-part series we developed from a report recently published in Accounting Today, written by Antoinette Alexander. This section discusses the im...read more
For more than 40 years CPAs at Sharrard, McGee & Co., PA have served clients in the not-for-profit sector. We have extensive experience in helping these organizations succeed whi...read more
Today we’re posting a video of June Zhao, Staff Accountant at Sharrard, McGee & Co., PA, sharing her perspective on how our team is motivated to do our very best work for our cli...read more
This is the second part of the four-part blog series we are presenting based on a report published recently by Accounting Today describing the challenges facing not-for-profit busine...read more
Hiring independent contractors is a popular choice for business owners looking for a way to reduce their tax burden, but misclassifying your workers can lead to serious problems with...read more
We are posting a four-part blog series based on an article recently published in Accounting Today, by Antoinette Alexander. Sharrard, McGee & Co., PA has had many not-for-profit ...read more
This article presents the exceptions to the 10% penalty on early withdrawal of retirement funds such as IRAs, SEP Plans, SIMPLE IRA plans, and employer-sponsored plans like the 401(k...read more
When it comes to small business tax laws, there are widely held beliefs that actually not true. The purpose of this article is to identify and correct some common misunderstandings r...read more
In this video, Sharrard, McGee & Co., PA Audit Manager Starla Hughes, CPA, discusses the eighth Key to Exceptional Client Service.She explains how our team strives to keep our cl...read more
Our most recent blog is based on an article published in Accounting Today by Michael Cohn. It identifies key areas where the IRS is advising taxpayers on how to proceed now that...read more
In this video, Director Patsy Isley, CPA, discusses the importance of always being transparent and prompt with billing and helping clients recognize and appreciate the value of ...read more
The IRS sent a Taxpayer Advisory earlier this week providing taxpayers with answers to questions relating to the start of the tax season and the end of the government shutdown. The m...read more
The IRS issued a Tax Advisory marking the start of the tax season with answers to frequently asked questions based upon taxpayer concerns as the government shutdown ends and the agen...read more
This blog is the second part of a CBS/AP report advising taxpayers about what to expect when the tax season opened yesterday and the government shutdown ends. This section addresses ...read more
A recent CBS/AP report explained how taxpayers will be impacted by the government shutdown and the new tax law as the tax season starts today, January 28. We are presenting this repo...read more
In this video, Sharrard, McGee & Co., PA Managing Director Alan Scheppmann, CPA, explains how we earn our clients’ confidence as trusted advisors by always focusing on their succ...read more
A recent article published in Accounting Today, written by Mark Luscombe, provided a comprehensive checklist of areas of the tax laws that were changed by the Tax Cuts and Jobs Act o...read more
This blog features the third part of an article written by Mark Luscombe that was recently published in Accounting Today. This section identifies the key changes impacting business o...read more
In this video, Tax Manager Doug Brown, CPA, CGMA, explains the fifth Key to Exceptional Client Service, “Give your client the time they need to make decisions and avoid surprises in ...read more
The IRS announced yesterday in a Tax Advisory that it has waived the penalty for those who may have not withheld enough income tax or made estimated payments that fell short of their...read more
This blog follows up on the first part we published earlier this week which presents a “Tax Cut and Jobs Act Checklist for 2019,” an article written by Mark Luscombe and published re...read more
The Tax Cut and Jobs Act of 2017 brought so many changes that will impact taxpayers’ individual and business returns. Accounting Today recently published a checklist written by Mark ...read more
We continue our series of “Keys to Exceptional Service” videos with Senior Accountant, Jeremy Musgrave, CPA explaining the fourth key – Alert Clients Quickly. At Sharrard, McGee &...read more
In our mission to keep our clients apprised of the most up-to-date news relating to the impact of the Government Shutdown on this Tax Season (see yesterday’s Client Advisory), we are...read more
As your tax advisors, it is our objective to provide you with the most timely news regarding situations that may affect your tax returns. The IRS is among the 25% of the federal...read more
One of the most profound changes brought about by the Tax Cuts and Jobs Act of 2017 was the introduction of Section 199A, the Qualified Business Income Deduction, also referred to as...read more
The Tax Cuts and Jobs Act of 2017 brought many changes that will impact many taxpayers this year, and one of the most sweeping is the introduction of Section 199A known as the Q...read more
Wishing joy, health, friendship, peace, laughter and success to all in 2019 from Sharrard, McGee & Co., PA! read more
In this video, Senior Accountant Susan Smitherman, CPA, explains how the Sharrard, McGee & Co., PA team learns their clients’ expectations for service and strives to exceed them ...read more
The IRS has issued a tax advisory suggesting that employees who may have underpaid their income tax withholding as a result of changes brought about by the Tax Cuts and Jobs Act...read more
Merry Christmas from the team at Sharrard, McGee & Co., PA. Best wishes for a happy and healthy holiday season! read more
The team at Sharrard, McGee & Co., PA recently completed a series of videos in which a group of our accounting professionals shares their perspective on the 10 Keys to Exceptiona...read more
The last thing anyone wants to hear after preparing their tax return is that they owe the IRS a considerable amount of money. Fortunately, there are many ways to reduce a tax burden....read more
Our most recent blog and Client Advisory focused on the South Dakota vs. Wayfair U.S. Supreme Court decision of earlier this year that affects companies that sell in multi-states or ...read more
The first Key to Exceptional Client Service is Deadline Awareness. Our objective is to stay apprised of the status of every project and encourage teamwork and internal communication ...read more
Sharrard, McGee & Co., PA recently completed a series of short videos addressing the “10 Keys to Exceptional Client Service,” featuring team members sharing their perspective on ...read more
If you sell products or services online or to buyers in states besides North Carolina, you may be required to collect sales or use tax from those customers, even though you lack an i...read more
The dollar limitations for pension plans and other retirement-related items for 2019 have been announced and are addressed in this article, which includes details about traditional I...read more
New Year's resolutions can range from focusing on getting healthier to cleaning up clutter. For some, reviewing and tightening their budgets may be on that list. If so, this article ...read more
The Tax Cuts and Jobs Act of 2017 has impacted many areas of individual and business tax planning and some of these changes affect parents. This article discusses eight opportunities...read more
The end of the year can be a frantic time for tax planning, and this year will be even more so as taxpayers determine how the changes resulting from the Tax Cuts and Jobs Act of 2017...read more
End of the year tax planning is often a complicated, last-minute endeavor, and this year even more so as a result of the many changes resulting from the Tax Cuts and Jobs A...read more
Businesses tend to have complex and specialized tax needs, so it's never too early for owners to start tax preparation. One way to get a head start is to gather essential documents t...read more
In our new blog, we feature the warning from the IRS broadcast in their recent Newswire warning taxpayers of scams in which emails that seem to be from the IRS are actually using tax...read more
Best wishes for a healthy and happy Thanksgiving to all! We are grateful for the opportunity to serve our clients and support our community through the commitment and loyalty of our ...read more
If you are hiring seasonal workers this year, you will need to know how they are counted under the Affordable Care Act. This blog post explains the distinction between seasonal worke...read more
In his recent article in Accounting Today, Michael Cohn shares the list developed by TaxAudit, a tax audit defense service, that predicts which taxpayers will be hardest hit by the T...read more
Several women of achievement from Sharrard, McGee & Co., PA attended the annual High Point YWCA Women of Achievement Luncheon held at the High Point Country Club this aftern...read more
As we gather with family and friends over the upcoming holidays, they may use this togetherness as an opportunity to ask for a loan. If you are in a position to do so and are co...read more
In this final installment in our four-part blog based on the IRS Newswire issued last week, “Get Ready for Taxes,” we focus on two points— the recommendation to renew expiring Indivi...read more
In this third part of our four-part series of blogs based on the most recent newswire from the IRS, we focus on the benefits of e-filing and Direct Deposit. This newswire, issued las...read more
Our latest blog features Part 2 of advice issued in an IRS Newswire this week titled “Get Ready For Taxes.” It highlights areas where taxpayers may have questions based on changes re...read more
The IRS anticipates a lot of confusion as taxpayers start gathering information to work with their accountants on their individual and business returns. They have developed ...read more
With 10,000 Baby Boomers retiring every day, there are many options for where and how to live as the obligations of the workday disappear. Some seniors plan to leave their homes...read more
There are several tax implications to consider when hiring someone to help around the house with tasks like babysitting, cleaning or lawn care. Disregarding the need to pay taxes on ...read more
Tax withholding is complicated, and the changes brought by the Tax Cuts and Jobs Act of 2017 have made it even more difficult to estimate the correct amount. This article discusses w...read more
As the year draws to a near, the IRS is reminding taxpayers of the specific areas of 2017 Tax Cuts and Jobs Act that may affect their bottom lines. The most recent IRS newswire focus...read more
Sharrard, McGee & Co., PA is among the sponsors of the NCACPA Professional Women’s Conference being held today at the Benton Convention Center in Winston-Salem. SMC Director...read more
With each new milestone you reach in life, you must consider the various changes it brings. One thing you can expect to be affected as you go through different life events is the way...read more
If you are considering starting a nonprofit entity like a charity, social organization, or association, there are several steps to take before applying for tax-exempt status. This ar...read more
Sometimes situations arise that create the need to withdraw money from a retirement plan earlier than expected. There can be financial consequences to this decision like ad...read more
In a recent newswire, the IRS addressed the changes to the rules on deducting meals and entertainments as business expenses resulting from the enactment of the Tax Cuts and Jobs Act ...read more
Millions of taxpayers requested the six-month extension for filing their tax returns, and this date is a week from Monday. The IRS issued a newswire warning these taxpayers to double...read more
A recent article in Accounting Today highlighted 14 tax strategies to consider during your end-of-year planning with your tax consultant. We published the first half in a blog earlie...read more
Even though the Tax Cuts and Jobs Act has been the law for almost a year, most taxpayers still aren’t aware of the steps they should take between now and year’s end to improve their ...read more
The IRS has broadcast a newswire alerting taxpayers of a significant threat of scams being perpetrated surrounding the upcoming October 15 deadline. This timely communication gives t...read more
The team from the High Point and Greensboro offices of Sharrard, McGee & Co., PA volunteered their time and energy during the North Carolina Association of Certified Public Accou...read more
The SIMPLE IRA plan (Savings Incentive Match Plan for Employees) is the easiest to set up of all the retirement plans available to small business owners, and the ...read more
Relationship-building is a crucial key to growth in the business world, and the connections between Sharrard, McGee & Co., PA and Pinnacle Bank (formerly High Point Bank and...read more
Today’s IRS Newswire features a strong warning to taxpayers to beware of criminals who may target them for scams while seeming to be helping hurricane victims. Among the most co...read more
Saving for retirement is one of those tasks that's much easier said than done. With a little financial planning, though, and a basic understanding of tax law, you can put away a siza...read more
The IRS broadcast an “IRS Newswire” in which they identify the North Carolina counties that will have tax deadline extensions and instructions regarding other types of tax relief tha...read more
As those of us in North Carolina are watching the forecasts for the approach of Hurricane Florence and are preparing our homes and businesses for potential storm damage, there are al...read more
On Monday, both Sharrard, McGee & Co., PA offices participated in a team-building exercise with each office creating an artistic design using the food items the employees donated...read more
Donating to your favorite charity is a fantastic way to give back, and if you itemize deductions come tax time, you can benefit, too. In many cases, it’s possible to deduct...read more
An "IRS Newswire" issued on Wednesday, September 5, provides clarification for business taxpayers by stating that business-related payments to charities or government entities f...read more
One of the objectives for our longstanding client relationships is to serve as the leading consultant among their group of trusted advisors, with all of us sharing the goal of helpin...read more
Everyone dreams of being able to retire in comfort, surrounded by loved ones and blessed with the resources to lead a satisfying life of leisure. Smart retirement-savings planning is...read more
Happy Labor Day from the team at Sharrard, McGee & Co., PA! read more
Sharrard McGee & Co., PA Director Ken Fulp was happy to participate in our video project yesterday, taping his perspective on the 10th Key to Exceptional Service, Seamless Servic...read more
  Everyone at the High Point office felt like they were in the movie business this morning when we started filming our videos about “The 10 Keys to Exceptional Service.” Sta...read more
The IRS recently broadcast a newswire announcement in which they outlined Treasury & IRS proposed regulations providing rules on the availability of charitable contribu...read more
This blog is referenced from a recent article published in Accounting Today and written by Nellie Aklap, CEO of Corpnet.com. It highlights six important steps to be taken by business...read more
What financial papers should you keep track of throughout the year and why is it important to make record keeping a crucial part of your business activities? Good record keeping save...read more
It’s never too early or too late to start planning for your retirement. This article provides advice on how to develop a savings plan that will grow your money to accumulate the amou...read more
The IRS released a newswire announcement yesterday urging taxpayers who support dependents that can’t be claimed for the Child Tax Credit to check their paycheck withholding amo...read more
It has been a busy summer at Sharrard, McGee & Co., PA, and one of the most exciting events was the North Carolina Association of Certified Accountants CPA Inauguration 2018, hel...read more
We are nearing the peak time for hurricane season, and unfortunately, this presents an opportunity for scammers who pose as representatives of charities supporting victims, or as IRS...read more
The IRS is concerned that the changes brought about by the Tax Cuts and Jobs Act may result in some taxpayers not withholding enough from their paychecks. This error c...read more
Most small businesses owners have sought a loan from a bank or other lending institution to achieve a growth objective. Your chances for securing a loan depend upon how well you...read more
The third and final installment of our blog series about estate planning, written by Pat Walsh, CPA, Tax Manager, address concerns about gift tax returns, the probate process, inheri...read more
Part II of our blog series on estate planning, written by Pat Walsh, CPA, Tax Manager, recommends that you analyze your insurance coverage to ensure that you have enough, confirm you...read more
Our next blog post series, written by Pat Walsh, CPA, Tax Manager, addresses the 10 estate planning issues that you should consider. The first installment discusses key areas like be...read more
Many of those who live in the Piedmont Triad have second homes at the beach or in the mountains that they rent out and use themselves for vacations. There are specific tax rules cove...read more
This article highlights five tax deductions that were eliminated through the enactment of the Tax Cuts and Jobs Act. These include moving expenses, unreimbursed business expenses, ta...read more
This article highlights five things you should know about reporting and paying employment tax: Federal Income Tax, Social Security and Medicare Taxes, Federal Unemployment Tax (FUTA)...read more
This newsletter article focused on five areas relating to the home office deduction including:  Regular and Exclusive Use, Simplified Option, Regular Method, Deduction Limit, a...read more
In our final blog in this six-part series, we focus on four more areas of the Tax Cuts and Jobs Act that are open to interpretation as identified by Mark A. Luscombe, CPA, JD, LLM, i...read more
We continue our series of blogs based on the article written by Mark A. Luscombe, CPA, JD, LLM, and published in Accounting Today, about the 14 areas that are open to interpretation ...read more
This blog is a continuation of the piece we are covering that was published recently in Accounting Today, written by Mark A. Luscombe, CPA, JD, LLM, identifying 14 areas of the TCJA ...read more
This blog continues the list of 14 areas of the TCJA that are open to interpretation according to Mark A. Luscombe, CPA, JD, LLM, whose article identifying these issues was recently ...read more
If you're in the process of starting a business, it only makes sense that you'd want to protect your enterprise from both legal and fiscal perspectives. The right business insurance ...read more
Happy Independence Day from the team at Sharrard, McGee & Co., PA! read more
While the TCJA brought about many positive changes for taxpayers, there continue to be areas where the interpretation of the provisions of the law is unclear.  In a recent artic...read more
While the Tax Cuts and Jobs Act promises good news for taxpayers for 2018, tax planning to take maximum advantage of those provisions has been difficult due to continuing uncertainti...read more
Investing your money in retirement accounts offers a tax-free way to build a financially stable future. However, because there are restrictions and penalties placed on accessing reti...read more
Congratulations to Doug Brown, CPA/CGMA, Sharrard, McGee & Co., PA Tax Manager, for his election to the Autism Society of North Carolina Board of Directors for a 3-year term, ...read more
This newsletter article deals with several tax breaks that you can realize when hiring new employees. These include payroll deductions for startups, work opportunity credit, disabled...read more
We have posted the tips developed by the National Association of Enrolled Agents for small business owners based on some of the changes brought about by the Tax Cuts and Jobs Act as ...read more
Joseph Bishop-Henchman is Executive Vice President at the Tax Foundation, where he analyzes state tax trends, constitutional issues, and tax law developments. His analysis of to...read more
A recent article in Accounting Today included a list of tax tips for small business owners that included advice about managing changes brought about by the Tax Cut and Jobs Act as&nb...read more
Taxes for small businesses are always a complicated subject, and the changes that came with the Tax Cut and Jobs Act make things even more complex. The National Association of Enroll...read more
Our latest blog post is based on an article recently published in Accounting Today by Senior Editor Roger Russell in which he discusses a new Tax Court case, Sarvak v. IRS, T.C. Memo...read more
If you discover after you have filed your tax return that you have made a mistake, it's not the end of the world! In most cases, you will need to file an amended tax return. Thi...read more
Many parents seeking ways to save for their child's education determine that a 529 Plan is an excellent option. As a result of the passage of tax reform legislation in 2017, 529...read more
Crowdfunding websites like Kickstarter, GoFundMe, Indiegogo, and Lending Club have become popular for individual fundraising efforts and for small business owners seeking start-up ca...read more
Congratulations if your child is a student with a summer job! There are tax implications for the income your child will earn.  This article highlights seven points that you will...read more
An IRS audit is a review/examination of an organization's or individual's accounts and financial information to ensure information is reported correctly according to the tax laws and...read more
Wishing you and yours a safe, healthy, and happy Memorial Day Weekend.  In Memory of Many, in Honor of All, Thank You. From the team at Sharrard, McGee & Co., PA   read more
Congratulations to Addison Maille, CPA/JD, Manager at Sharrard, McGee & Co., PA, who was a featured speaker today at the North Carolina Association of Certified Public Accountant...read more
Many of the tax provisions under tax reform were favorable to small business owners including those relating to using a car for business. This article covers areas including: - Sect...read more
Sharrard, McGee & Co., PA Audit Manager Starla Hughes reports from another day at the AICPA Employee Benefit Plans Conference in Las Vegas. “IRS & DOL representatives were on...read more
Sharrard McGee & Co., PA Audit Manager Starla Hughes reports from the second day of the AICPA Employee Benefit Plans Conference in Las Vegas that "Cybersecurity is a huge bu...read more
Thanks to the High Point Chamber of Commerce, and event sponsors, GTCC Small Business Center and SCORE, for inviting Addison Malle, CPA/JD, Manager at Sharrard, McGee & Co., PA, ...read more
Starla Hughes, Sharrard, McGee & Co., PA Audit Manager, is among the over 1200 CPAs and other professionals attending the American Institute of Certified Public Accountants...read more
Selling a small to medium-sized business is a complex venture, and many business owners are not aware of the tax consequences, especially with the changes brought by the Tax Cut and ...read more
If you haven't filed a 2017 tax return yet, it's not too late, and it may be easier than you think. The tips in this newsletter article will help guide you through the steps to compl...read more
If you are like most small business owners you are always seeking ways to reduce your company’s tax bill. In this newsletter article, we suggest five areas that you may not have...read more
Whether you’re paying for hospital stays or prescription medicine, the cost of health care can quickly add up. If your employer doesn't offer health insurance or coverage is too expe...read more
As we celebrate Small Business Week, we send our gratitude, respect, and support to all the small businesses that have trusted us to help them start up and grow their businesses, man...read more
As those who are over 50 quickly discover, aging brings changes in many areas of life, including your approach to tax planning.  This newsletter article offers five tips th...read more
Estimated tax is the method used to pay tax on income that is not subject to withholding. This includes income from self-employment, interest, dividends, and rent, as well as gains f...read more
Withholding issues can be complicated, and with the passage of the recent tax reform legislation--most of which takes effect starting in 2018—, it's important to make sure the r...read more
Now that the tax season is over, it’s time to plan for next year. One area that was affected by the Tax Cuts and Jobs Act is charitable giving deductions. The second part of this two...read more
With this year’s tax season coming to an end, taxpayers are starting to seek advice on how to plan for charitable giving and deductions to be in compliance with the new tax law for n...read more
American taxpayers received an extra day to file their returns electronically after a computer malfunction disrupted the Internal Revenue Service’s website. If you didn’t get your&nb...read more
The IRS has shared data up to March 31 for comparison of the 2018 tax season last year. The highlights of the date were published in a recent article by Accounting Today and we are f...read more
This two-part blog relates how the tax season is going so far as we enter the final stretch, with data provided by the IRS from up to March 31,  and published in a recent articl...read more
Every year the IRS identifies the twelve worst scams targeting taxpayers and tax preparers. This year’s list was recently published with commentary by Accounting Today, and we have p...read more
Every year the Internal Revenue Service highlights 12 of the worst of the worst to alert taxpayers and tax practitioners to the dangers they need to be aware of, both in the run-up t...read more
Unfortunately, identity theft has become increasingly prevalent with the number of victims at already over 13 million a year back in 2013. If your information gets into the wrong han...read more
Recent years have seen an intensifying of tax scams. Some crooks use the Dark Web and complex hacking to lift and hide stolen identities; others use technology no more sophisticated ...read more
Addison Maille, CPA/JD, Manager at Sharrard, McGee & Co., PA is the featured speaker for the High Point Chamber of Commerce 2018 Business Seminar sponsored by GTCC SBC and SCORE ...read more
This blog is the last in a seven-part series written by Addison Maile, CPA/JD, Manager, based on the educational session co-sponsored by Sharrard, McGee & Co., PA earlier this ye...read more
The clock is ticking, but if you haven't contributed funds to an Individual Retirement Arrangement (IRA) for tax year 2017, or if you've put in less than the maximum allowed, you sti...read more
The Accountable Care Act contains tax provisions that affect employers, with the size of the workforce determining which parts of the law are relevant.  Two parts of the ACA aff...read more
Sharrard, McGee & Co., PA co-sponsored a seminar earlier this year in which Addison Maille, CPA/JD, Manager, gave a presentation about the effects of the Tax Cuts and Job Acts on...read more
As you work with your tax advisor on your individual and business returns, it is helpful to understand which types of income are taxable and which are not. This newsletter article de...read more
The IRS recently shared information about how they determine the source of suspicious tax returns, and how they alert a taxpayer if such a return has been made with their p...read more
Sharrard, McGee & Co., PA recently sponsored an educational seminar in which Addison Maille, CPA/JD, Manager, outlined the key changes in the Tax Cut and Jobs Act affecting indiv...read more
There are many ways that taxpayers can be scammed, and criminals are constantly devising new schemes. One of these involves erroneous refunds that are deposited into taxpayer bank ac...read more
Under the Employee Retirement Income Security Act of 1974 (ERISA), employers in the private industry must meet certain standards when establishing pension and health care plans for t...read more
In a recent seminar co-sponsored by Sharrard, McGee & Co., PA, Addison Maille, CPA/JD, Manager, outlined the key changes in the Tax Cut and Jobs Act affecting individuals and bus...read more
It can be very frustrating to discover you are missing a tax form. Our most recent newsletter article provides information on what to do if you are missing a W-2, 1099, or Health Ins...read more
Sharrard, McGee & Co., PA recently co-sponsored a seminar highlighting how the new tax cuts will affect individuals and businesses.  Addison Maille, CPA/JD, Manager, gave a ...read more
Earlier is better when it comes to working on your taxes but many people find preparing their tax return to be stressful and frustrating. Fortunately, it doesn't have to be. This art...read more
Sharrard, McGee & Co., PA recently co-sponsored a seminar highlighting how the new tax cuts will affect individuals and businesses.  Addison Maille, CPA/JD, Manager, gave a ...read more
We like to acknowledge the community involvement of the members of the Sharrard, McGee & Co., PA team. By bringing attention to the organizations they actively support we can hel...read more
Sharrard, McGee & Co., PA recently co-sponsored a seminar highlighting how the new tax cuts will affect individuals and businesses.  Addison Maille, CPA/JD, Manager, gave a ...read more
Sharrard, McGee & Co., PA was among the business sponsors of the YWCA of High Point's "Heart of YWCA Luncheon" held at the High Point Country Club yesterday. This luncheon i...read more
Both tax credits and deductions can cut your liability, potentially saving you hundreds or even thousands of dollars if you itemize your returns. While many people might use the term...read more
Sharrard, McGee & Co., PA, Wyatt Early Harris Wheeler, and The Tilley Group/Merrill Lynch hosted a seminar “Tax Cuts and Jobs Act” for 2018  at the Grandover Resort & Co...read more
Do you have questions about how the new tax laws will affect you and your business? Join us for a free seminar, “Tax Cuts and Jobs Act for 2018,” on Monday, February 5, from 4:3...read more
Today’s High Point Enterprise features an article, “New Law to Have Little Impact on Tax Filing this Year,” in which Sharrard, McGee & Co. PA Manager Addison Maille, CPA/JD, prov...read more
Sharrard, McGee & Co., PA announced that Susan Smitherman has been licensed as a Certified Public Accountant (CPA) by the North Carolina Board of Certified Public Accou...read more
Sharrard, McGee & Co., PA announced that Melinda Carter has been promoted to the position of Tax Paraprofessional. She started her career at the firm in 1998 as a Receptionist/Ad...read more
Sharrard, McGee & Co., PA announced that Teresa Melton has joined the firm as an Administrative Assistant, providing a wide range of support services to clients an...read more
Sharrard, McGee & Co., PA has recently announced several new hires and a promotion which included the recruitment of Sandra Nicole Tyler as a Staff Accountant. Before joining our...read more
One of our newest employees at Sharrard, McGee & Co., PA, Trey Hocutt, joined us after serving as an intern on the audit team during the 2017 tax season. Hocutt, a n...read more
Sharrard, McGee & Co., PA has expanded its client service team with the recruitment of Staff Accountants Trey Hocutt, Sandra Nicole Tyler, and June Zhao, Administrative Assistant...read more
Posting job listings and interviewing candidates are the first steps toward hiring a new employee. Before your new worker can be added to the payroll, state and federal law require y...read more
Congress has enacted the largest tax reform law in thirty years. One that will make fundamental changes in the way you and your business calculate your federal income tax bill a...read more
When it comes to creating a budget, it's essential to estimate your spending as realistically as possible. Here are five budget-related errors commonly made by small businesses and s...read more
Many of the tax changes affecting individuals and businesses for 2017 were related to the Protecting Americans from Tax Hikes Act of 2015 (PATH) that modified or made permanent numer...read more
Whether you file as a corporation or sole proprietor, this newsletter article addresses some details that business owners need to know about tax changes for 2017. https://www.sh...read more
Thanksgiving is finally behind us and Christmas is right around the corner, which means tax time will be here before you know it. If you often scramble to gather all relevant financi...read more
The American Society of Pension Professionals and Actuaries has reported that a scheme targeting individual 401(k) accounts, potentially at multiple recordkeepers, has resulted in a ...read more
This blog ends our series on “Ten Tax Tips for End of the Year Planning in Uncertain Times,” addressing retirement account tax savings, documentation of business activities, determin...read more
The Republicans have finally shared the long-awaited tax plan, known as the Tax Cuts and Jobs Act, but it hasn’t made it through the legislature just yet. While the details of the pl...read more
Our most recent blog includes Tips 4, 5 and 6 for end-of-the-year tax planning in uncertain times.https://www.sharrardmcgee.com/blog.php.  We encourage you to call your tax advi...read more
Many people don’t think about their taxes until it’s time to file, a mistake that could increase your liability and cause you to turn over more of your income to the IRS. A year-roun...read more
For many business owners in North Carolina, dealing with accounting matters can create a major roadblock to upwards progress. In this case, accessing the assistance of a business acc...read more
Taxes play a significant role in the well-being of a business, especially in its early years. Each type of business gets taxed differently, and it’s important to know how. Profession...read more
Starting a business is an exciting endeavor, though it comes with pitfalls. While branding and operation strategies are essential, properly setting up a financial system is just...read more
It is not uncommon for Americans and resident aliens to earn income abroad. If you earn any kind of income from foreign sources, it is essential that you understand the reporting req...read more
If you’re expecting your student loans to be forgiven this year, or anticipating a creditor to stop collecting what you owe, you’ll probably end up with canceled debt in the near fut...read more
If you want to protect your company’s bottom line, you need to manage your cash flow meticulously. Unless you have a background in corporate accounting, though, you may not know how ...read more
Every year, millions of Americans overpay on their taxes, largely due to failures to claim the full value of the deductions and credits they deserve. Before filing your tax returns f...read more
If you own a small business, it is critical that you process your payroll taxes properly because mistakes don’t just affect you; they could affect your livelihood and your entire fam...read more
Every small business owner spends a great deal of time updating documents, generating reports, and making sure every account is up to date. However, those chores are almost certainly...read more
On December 1, 2016, a new rule change went into effect which significantly expanded protections to cover more than four million American workers who were previously exempt from over...read more
For many Americans, tax preparation is a fairly straightforward process that can be completed quickly with minimal confusion. However, if your financial situation is more complex or ...read more
When it comes to accounting services for your business, you can't afford to skimp. However, that doesn't mean you need a full-time staff member to do all your bookkeeping. In fact, t...read more
Early retirement is a dream shared by millions who are looking forward to kicking up their heels, exploring new passions, or traveling the world. Fortunately, with a little preparati...read more
Every year, millions of Americans pay more in taxes than they strictly have to, all because they failed to adopt a year-round strategy based on maximizing deductions and credits. Dra...read more
401(k) plans and IRAs are excellent ways to start saving for retirement, but they can also help reduce your annual taxes, too. The tax accountants at Sharrard McGee & Co PA offer...read more
The April 15 tax deadline for 2016 has come and gone, but that doesn't mean you shouldn't file your tax returns at all. Sharrard McGee & Co PA, tax preparation specialists with 4...read more
In an effort to save money, a lot of people try to file their own tax returns, only to find that the time, frustration, and delays wind up costing more in the long run. Sharrard McGe...read more
Successful small business owners know the value of thorough tax preparation. The experts at Sharrard McGee & Co PA, a company offering accounting and financial services to the re...read more
Whether you’re a freelancer or an entrepreneur, tax preparation tasks if you're self-employed can be overwhelming. Hiring a tax accountant can help you sort through the complexities ...read more
When it comes to money management, you want a trusted and unbiased partner who will keep your financial goals in mind through realistic solutions. The accounting services firm of Sha...read more
Protecting your identity from criminals who steal your Social Security number and other personal information to file fraudulent tax returns is becoming more of a priority. Being proa...read more
Effective tax preparation and retirement planning depend on understanding the benefits and drawbacks of the various types of saving and investment plans available. Sharrard McGee &a...read more
If you're thinking about making a charitable donation during the holiday season this year and want to claim a tax deduction for your gifts, it’s essential for you to itemize your ded...read more