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Parsons CPA

Parsons CPA Announces Newly Appointed Executive

Charlotte (NC) Parsons CPA announces the appointment of Alyssa S. Carlson to the Executive Team as Senior Manager. Alyssa’s extensive knowledge of Attest Services, specialization in the niche markets of Employee Benefits Plan Audits and SOC Examinations, combined with Tax and Business Consulting has led her to be an integral asset to Parsons CPA and […]

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Parsons CPA

Parsons CPA Announces Management, Senior Promotions

Charlotte (NC) Parsons CPA, PLLC announces promotions to Management and Senior Level Consultant Positions. Along with new positions, various members of staff have also achieved new levels of recognition within their positions. Parsons CPA expects more promotions to follow as the firm grows and talent continues to reach new heights.     This year has been […]

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Parsons CPA PPP Loans Small Business Relief

New PPP Forgiveness Guidance Issued

The U.S. Small Business Administration (SBA) and Treasury issued an interim final rule Monday addressing Paycheck Protection Program (PPP) forgiveness issues related to owner-employee compensation and the eligibility of nonpayroll costs. Specifically, the interim final rule establishes that owner-employees with less than a 5% stake in a C or S corporation are exempted from the PPP owner-employee compensation […]

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Advisory and Business Consulting Parsons CPA Small Business Loans

End of LIBOR: What Small Businesses Need To Know

As 2021 draws near, our business world is getting closer and closer towards the phasing out of LIBOR, an interest- rate reference that has been used in both lending and borrowing contracts since the mid-1980s. As this phasing out occurs, businesses both small and large, financial and nonfinancial, will feel and see the impact of […]

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Parsons CPA PPP Loans Small Business Relief

PPP Loan Forgiveness FAQs

The U.S. Small Business Administration (SBA), in consultation with Treasury, released guidance answering 23 frequently asked questions regarding the forgiveness of Paycheck Protection Program loans. The FAQs, published in a new 10-page document, are divided into four sections addressing different aspects of the process and calculations PPP borrowers should use to determine how much of their […]

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Parsons CPA

Partner, Alisa Johnson, Celebrates 20 Years with Parsons CPA, PLLC

As Partner at Parsons CPA, PLLC, Alisa Johnson has been a driving force in making area small businesses successful. With over 20 years in Public Accounting and 10 years in Private Industry, Alisa has been a symbol of trust, vision and dedication to local business owners. Alisa celebrates this milestone as Parsons CPA, PLLC also […]

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Parsons CPA

IRS’s Updated Deadline Calendar (7/17/2020-12/31/2020)

In the world of Accounting, one deadline is almost immediately followed by another. Below is a list of the updated IRS due dates remaining in 2020.   Friday,7/17/2020 Deposit payroll tax for payments on Jul 11-14 if the semiweekly deposit rule applies. Wednesday,7/22/2020 Deposit payroll tax for payments on Jul 15-17 if the semiweekly deposit […]

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Parsons CPA Tax Filing and Tips

Here is what happens if you don’t file your taxes by deadline…

What happens if you don’t file your taxes by deadline? Interest and Penalties Here are some of the penalties and fees that apply to past due taxes: • Interest is compounded daily and accumulates on the owed amount (the interest rate is equal to the Federal short-term rate, plus 3%) • The late payment penalty […]

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Parsons CPA

IRA contributions made by July 15 count as 2019 tax deduction

Contributions to traditional Individual Retirement Arrangements (IRAs) made by the postponed tax return due date of July 15, 2020, are deductible on a 2019 tax return. Taxpayers can file their 2019 tax return now and claim the deduction before the contribution is actually made. But the contribution must then be made by the July 15 […]

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Parsons CPA

Last minute tax crunch? Here is what your tax professional needs now.

We have all been there, it’s tax time and you waited until the last minute. Ideally, you would have been neatly compiling your receipts and documents since day 1, but that is a discussion for another day. Right now, you need to search, organize and send those docs in before it is too late! Below […]