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January 18, 2022

Our goal is to make tax time simpler, more efficient, and less stressful for you. We wanted to remind you of your options in case you are not able to or do not feel comfortable enough to come into one of our two physical offices. If that is the case, below are a few options to get…

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What you should do when you receive your IRS advance child tax credit payments and third Economic Impact Payments letters

January 18, 2022

The IRS started issuing information letters to advance child tax credit recipients in December. Recipients of the third round of the Economic Impact Payments will begin receiving information letters at the end of January. Using the information in these letters when preparing a tax return can reduce errors and delays in processing. People receiving these…

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How to Scan Tax Documents for Digital Submission

December 10, 2021

Let’s face it, tax season requires clients and accountants to share large amounts of data – mostly in the form of paper documents. Since the onset of COVID, our team has adjusted the way we share and collect tax documents.    Dropping off an envelope full of tax documents to your accountant is becoming more of…

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Paul Wade Named SME CPAs’ Next Managing Partner

July 14, 2021

AUGUSTA, GA: SME CPAs, a top 400 U.S. accounting firm, is proud to announce that Paul Wade, CPA will serve as SME CPA’s next Managing Partner effective July 1, 2021. Wade, who joined the firm in 2003, was promoted to partner in only six years, in 2009. He has helped grow our tax team and…

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Tax and financial planning tips: Welcoming a New Child

April 6, 2021

Welcoming a new child into your life is a great joy, but it also means big financial changes. These young family members can affect your tax situation. To start things right, here are some tips to keep in mind. Tax returns and withholdings Having a baby – or adopting a child – could affect your…

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ARPA modifications of the payroll tax credits for paid sick leave and family leave

March 25, 2021

The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, extended and significantly modified the payroll tax credits for qualifying sick leave and family leave wages. Below is a summary of the key provisions. Background: Both Covid-19-related credits were initially provided by the Families First Coronavirus Response Act and…

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Updates on The American Rescue Plan Act (ARPA) of 2021

March 12, 2021

With President Biden’s signature yesterday, March 11, 2021, the $1.9 Trillion Stimulus Bill (ARPA) became law. This is the six separate COVID-relief bill enacted by the federal government. The American Rescue Plan Act of 2021 (ARPA) includes tax provisions, business stimulus provisions, individual assistance like extended unemployment benefits, additional funding for existing programs like the…

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New tax laws that affect businesses

January 5, 2021

The Consolidated Appropriations Act, 2021 (the CAA, 2021), signed into law on December 27, 2020, is a further legislative response to the coronavirus (COVID-19) pandemic. The CAA, 2021 include–along with spending and other non-tax provisions and tax provisions primarily affecting individuals–the numerous business tax provisions briefly summarized below. The provisions are found in two of…

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What does the additional 2020 Stimulus Check mean for you?

January 5, 2021

You’ve probably heard that IRS will be making millions of ”economic impact payments” (also called ”recovery rebates”) in the near future to help people stay afloat during this time of economic uncertainty related to the COVID-19 crisis. These payments are in addition to the $1,200 payments ($2,400 for married couples) issued earlier in 2020. Here’s…

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2020 COVID relief bill provisions affecting individual taxpayers

January 5, 2021

Here is an overview of key provisions in the recent COVID relief legislation that affect individuals. The legislation is the COVID-related Tax Relief Act of 2020 (the “Act” or COVIDTRA) and the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTR), both of which are part of the Consolidated Appropriations Act, 2021. RECOVERY REBATE/ECONOMIC…

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