Greensboro, North Carolina

Sharrard, McGee & Co., PA

Sharrard, McGee & Co., PA

800 Green Valley Rd #200
Greensboro, NC 27408
(336) 272-9777
Sharrard, McGee & Co., PA, Accountants, Finance, Greensboro, 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
Seven Tips for Thriving and Surviving in This Age of Uncertainty, Greensboro, North Carolina
With all the uncertainty in the world today, it’s hard for any business owner or entrepreneur to stay positive. Today’s blog features an article from INC magazine that more
SMC COVID-19 Survey of Local Businesses --- Construction, Greensboro, North Carolina
We recently shared the results of a survey we implemented to determine how our clients and other businesses in the area were managing during the COVID-19 crisis. The firms more
Mark Welch, CPA, Joins Sharrard, McGee & Co., PA, Greensboro, North Carolina
Mark Welch, CPA, recently joined Sharrard, McGee & Co., PA as Tax Manager. He holds both a Bachelor of Science and a Master of Science degree in Accounting from the University more
SMC COVID-19 Survey of Local Businesses, Greensboro, North Carolina
We recently shared the results of a survey we implemented to determine how our clients and other businesses in the area were managing during the COVID-19 crisis. The firms we more
Happy Veterans Day from Sharrard, McGee & Co., PA, Greensboro, North Carolina
Wishing everyone a Happy Veterans Day with gratitude to all the members of the United States Armed Forces who have served our country. We are the home of the free because of your more
Sharrard, McGee & Co., PA recently announced that Henrik Smith has joined the firm as Audit Supervisor.  He previously worked within the assurance department of a more
Sharrard, McGee & Co., PA is among the sponsors at the YMCA of High Point’s 2nd Annual Clay Shoot held at Beaver Pond Sporting Club in Snow Camp, NC today. Managing more
We recently completed a survey of 68 companies, mostly small to mid-sized businesses based in the Triad, to determine how they are coping with the COVID-19 pandemic. Our main more
Sharrard, McGee & Co., PA, announced that Daniel Kelley, CPA, has joined the firm as Audit Senior Accountant, working with clients on assurance and tax issues, focusing on more
Being financially healthy is necessary for the success of your business. A cash flow statement provides greater insight into your company’s finances. A business accountant can more
Today’s blog offers five tips for small and medium business owners dealing with the challenges of managing their companies during the COVID-19 crisis. These include having faith more
Sharrard, McGee & Co., PA announced that Mike Atkins, CPA, has joined the firm, bringing almost two decades of public accounting experience to his new position as Tax more
Most of our clients are small and mid-sized business owners who face many financial challenges. For almost 45 years, we have helped these clients start their businesses and guide more
Sharrard, McGee & Co., PA recently announced that June Zhao has been promoted from Staff Accountant to Senior Accountant. She joined the firm in 2017 as an intern on the audit more
COVID-19 continues to impact our personal and business lives in so many ways. Some are still working from home and teleconferencing has never been more popular. Cyber security and more
Sharrard, McGee & Co., PA announced that Robert (Trey) Hocutt III has been promoted from Staff Accountant to Senior Accountant. Trey served as intern at the firm before more
Today’s blog shares an article from the Center for Creative Leadership featuring advice for managers seeking to change their culture from “change fatigue” and resistance to “ more
Sharrard, McGee & Co., PA announced that Christopher Singletary, CPA, was promoted from his former position as Senior Accountant to Supervisor. He holds a Bachelor of Science more
Everyone should know their net worth. Having this information handy will help when unexpected expenses arise or if you decide to invest your money. A tax accountant can come in more
We recently announced four promotions and the addition of four new members to its team of advisors and accountants including the promotion of Nancy McRee, CPA, CGMA, more
Are you one of the millions working from home as a result of the COVID-19 crisis? Are you eligible to claim the home office deduction and benefit fro the opportunity to deduct more
How sure are you that the proper amount is being withheld from your paycheck? If you fall into any of these categories, it is particularly critical that you check your withholding more
The IRS has issued an advisory urging individuals who owe taxes but have not yet filed for 2019 to act now to avoid larger penalties that, by law, start after September 14. Today’s more
Sharrard, McGee & Co., PA will be closed Monday, September 7 in observance of Labor Day. Wishing a safe, happy, and healthy celebration with family and friends to all! read more
Many people are interested in investing but lack the knowledge to make a sound decision. Smart investments grow your wealth and create a roadmap for a financially stable more
Sharrard, McGee & Co., PA Manager Addison Maille, JD/CPA, wrote today’s blog which details the many forms of relief that are still available to business owners even though the more
Although the PPP Loans are done, there are four programs still available for business owners in need of aid during the Coronavirus pandemic. Today’s blog shares an article that more
For those companies that were considering outsourcing their accounting function pre-COVID, the pandemic has made it a better decision than ever. Today’s blog shares an article from more
Surprisingly, more than half of small businesses do not have an online presence. Today’s blog shares a recent article in Forbes which explains why adding digital access& more
Life is filled with momentous occasions and milestones, from getting engaged to growing your family. While these events are meaningful on an emotional level, it’s important to more
The Internal Revenue Service provided a reminder today that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable more
Every year the IRS announces the 12 most common tax scams. This year’s list places a special emphasis on aggressive and evolving schemes related to COVID-19 tax relief, including more
Sharrard, McGee & Co., PA Tax Manager, Addison R. Maille, CPA, JD, was the featured guest this week on ‘How Money Works’ a podcast hosted by Craig Moser, CFP and more
Today’s blog presents five behaviors that managers of employees working from home can use to assess productivity. These include taking initiative, delivering results, displaying more
Sharrard, McGee & Co., PA will be closed Friday, July 3, in observance of Independence Day. We wish you and your family a happy and healthy celebration of our nation’s birthday! read more
Being a small business owner comes with numerous obligations. As such, tax preparation may fall by the wayside, which can lead to serious consequences. While the following mistakes& more
Dear Clients and Friends:   To reflect the recent passage of the Paycheck Protection Program Flexibility Act (PPPFA), the SBA in conjunction with the Treasury Department has more
The Small Business Administration and the Treasury Department unveiled a simpler loan forgiveness application for the Paycheck Protection Program this week. The new application more
Dear Clients and Friends: Signed into law June 5th, the Paycheck Protection Program Flexibility Act modifies the original PPP loan provisions of CARES Act. Among other items, the more
Many of our clients, suffering from a downturn due to the pandemic, are seeking to cut costs to balance decreases in revenue. Every situation is different and we encourage them more
Managing finances is an integral part of running a business. A lot of entrepreneurs hire accounting services to do the job for them properly. In addition to assistance from a more
Today’s blog shares highlights from the Treasury Department’s Interim Final Report (IFR) on Loan Forgiveness. Most of the information contained in the IFR is also in the more
Today’s Client Update is posted on our blog and offers timely information for business owners deciding whether to use or payback their Paycheck Protection Program more
Today’s blog highlights valuable resources provided to small businesses by the U.S. Chamber of Commerce with reopening information categorized on a state-by-state and more
Today’s blog provides the latest updates on the Payroll Protection Program (PPP). including the SBA’s policy guidance as provided in  SBA’s PPP Loans Frequently more
An employee benefit plan audit reviews and assesses the benefits you offer and can provide valuable insights into how to improve the management of these amenities. For larger more
The coronavirus crisis has created opportunities for business owners to access payroll tax credits and advances. Today’s blog explains credits for sick and family leave, more
Planning how to reopen your business? There is a lot you can do wrong, according to the article from INC shared in today’s blog, From taking temperatures to enforcing social more
While there are advantages to working at home, one of the biggest challenges is not forming bad habits that will be hard to break when you return to your workplace. Today’s blog more
Although we’re more than a month into the COVID-19 pandemic, daily changes and the development of plans for reopening require responsible leadership and dynamic management. Today’s more
While there are no firm dates for reopening businesses, most owners and managers are considering how they will handle this process when they can safely do so. Today’s blog shares an more
Today’s blog shares an article from Forbes that suggests spending some at home during the coronavirus crisis teaching your children about personal finance. Topics covered more
Working from home has its advantages and disadvantages, and depending upon the situation, by now some may be having difficulty staying motivated. For managers and employees who are more
The new normal has many managers focused on keeping their teams productive and upbeat during the difficult days of self-isolation and working from home. Today’s blog offers several more
Best wishes for health, happiness, and peace to you and your family this Easter and a return to the joys of togetherness in the weeks ahead. -- The team at Sharrard, McGee & more
The CARES Act that was signed on March 27, 2020, includes provisions for a credit against the employer portion of Social Security taxes. See the attached summary: more
Today’s blog is a continuation of our posting of an Accounting Today article listing 10 areas where the IRS has altered its operations due to the coronavirus crisis. Items 6 through more
It’s not business as usual at the IRS these days. Add all the changes relating to the COVID-19 crisis to the typical hectic tax season, and the work of this federal agency has more
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 more
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 more
The Department of Treasury has released the Paycheck Protection Program application which can be accessed here: more
Today’s blog expands upon the information we have learned regarding the Paycheck Protection Program (PPP), part of the CARES Act.& more
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 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 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 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 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’ 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 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 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 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 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 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, 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 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 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 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 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 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 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 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 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 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 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 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 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 more
The most recent IRS Taxpayer Advisory announces proposed regulations affecting taxpayers who pay or incur expenses for meals or entertainment. These proposed regulations 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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. 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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& 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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.” 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 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 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 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 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 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 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 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 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 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 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 more
In today’s blog, we share a new post from in which Lee Reems II provides an analysis of the proposed laws being considered by Congress that relate to the Tax Cut and 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 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 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 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 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 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 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 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 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 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 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. 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 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 ( 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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, 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 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 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& 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 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 “ 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 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 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 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 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 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 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 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 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 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 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 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 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 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, 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 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 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 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 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 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 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” 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 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 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 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, “ 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 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 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 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 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 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 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( 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 & 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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.” more
The IRS recently broadcast a newswire announcement in which they outlined Treasury & IRS proposed regulations providing rules on the availability of charitable more
This blog is referenced from a recent article published in Accounting Today and written by Nellie Aklap, CEO of It highlights six important steps to be taken by 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 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 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 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, 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 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 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 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, 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 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 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 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, 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) 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, 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, 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 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 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 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 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 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 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 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, 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, 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 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 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& 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 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. 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. 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, 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 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 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 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 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: - 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 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 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, 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 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 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 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 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 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, 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 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 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 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 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 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& 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 & 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 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, 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 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/ 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 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 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 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 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 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 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 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 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. 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 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 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, 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 more
Our most recent blog includes Tips 4, 5 and 6 for end-of-the-year tax planning in uncertain times.  We encourage you to call your tax 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 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 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. 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 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 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 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 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 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 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 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 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 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, 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 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. 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 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 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 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 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 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 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 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 & 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 more