If you are planning to make a relatively substantial contribution to a charity, college, etc., you should consider donating appreciated stock from your investment portfolio instead of cash. Your tax benefits from the donation can be increased and the organization will be just as happy to receive the stock. This tax planning tool is derived […]
Now Hiring: Tax Manager
Description We are looking for an experienced tax manager to join our growing practice. Founded in 2004, Meadows Urquhart Acree & Cook, LLP is a fast-growing CPA firm of about 35 employees. We provide tax, assurance, and consulting services to mid-sized privately held companies, high net worth individuals, nonprofits and financial services. We work with […]
IRS Backlogs Frustrate Taxpayers in 2021
This past year has been a struggle and test of perseverance for many of us. COVID has put our lives on hold and required a sacrifice of normalcy. Both businesses and employees suffered due to lost jobs, reduced hours, and permanent closures because of the loss of business income during the pandemic. Retail and […]
Advance Child Tax Credit Payments Starting July 15th
More people are eligible this year to receive the Child Tax Credit in 2021 as part of the American Rescue Plan. If you claimed the Child Tax Credit for 2020, you received it as a dollar for dollar offset to your tax liability when filing your taxes. For the 2021 tax year, the IRS will send out 50% of that […]
Now Hiring: Audit Manager – Public Accounting
Education: BS in accounting. CPA requiredLocation: Richmond, VirginiaCareer Level: Minimum of 5 years of relevant audit and assurance experience We are a growing firm and looking for our future leaders. We are a team of passionate professionals who are excited about helping our clients and employees develop and achieve their potential. We are looking for […]
Now Hiring: Senior Tax Accountant
Senior Accountant – Public AccountingLocation: Richmond, VirginiaEducation: BS in accounting. CPA licenseCareer Level: 3 years of relevant public accounting experience We are a growing firm and looking for our future leaders. We are a team of passionate professionals who are excited about helping our clients and employees develop and achieve their potential. We are looking […]
Highlights of The American Rescue Plan Act (ARPA)
The American Rescue Plan Act (ARPA), signed by President Biden on March 11, 2021, extended and expanded many of the tax and economic incentives that Congress has passed to address the continuing economic impact on employers and their employees from the Coronavirus pandemic. Among the many provisions and grants, the ARPA: Enhanced and extended paid […]
The American Rescue Plan Act
The American Rescue Plan Act, 2021 (ARPA, 2021) was signed by President Biden on March 11, 2021 to address the continuing economic impact on employers and employees the coronavirus (COVID-19) pandemic has posed. The legislation extends and expands provisions found in the Families First Coronavirus Relief Act (FFCRA), Coronavirus Aid, Relief and Economic Security (CARES) […]
PPP Second Draw Application Deadline is March 31
Don’t forget! The Paycheck Protection Program (PPP) Second Draw application deadline is March 31, 2021 or when the approximately $284 billion of funding is exhausted. Current trends indicate there will be funds available through March 31. Of course, trends and guidance can always change, so be aware. Additionally, per the SBA website, President Biden announced […]
Status of Virginia’s Conformity to Federal Legislation
Most years, we as CPAs ask our clients located in Virginia to hurry up and get us their information, but then wait to file their returns. Why does this happen? One of the reasons is that the Virginia General Assembly meets annually in January and decides on Virginia’s conformity to new federal legislation. Once legislation is […]
