Aaron J. Sparrow, CPA

04/17/2025

Days after the April 15th deadline, we get this:

NC-2025-01, April 17, 2025 — Due to the lingering effects of Hurricane Helene, the IRS today further postponed until Sept. 25, 2025, a wide range of tax deadlines for taxpayers throughout North Carolina. Previously, the deadline had been May 1, 2025, for Form 1040 filers, among many others.

01/22/2025

Both the Greenville and Smithfield offices are closed today. ❄️

Have a great "snow day", and stay safe and warm out there!

02/10/2024

We had a rather kind client bring us some cupcakes today. This was VERY appreciated and needed for a Friday. Tax Season is definitely here! We've had more people drop off at this same point than any year in the past. We are working hard to get them done ASAP, but there is a backlog as usual for this time of the year. We also (LUCKILY) have an additional person helping us this year!

We're still able to take on a few more new clients, so give us a call to see if we will be a good fit for one another. Call us at (252) 689-8181.

01/09/2024

Mark your calendars, tax season is (almost) here. The IRS will begin accepting your return on January 29th this year.
Until then, we'll be busy getting out W-2's and 1099's for our business clients.
See you all soon!

IR-2024-04, Jan. 8, 2024 — The Internal Revenue Service today announced Monday, Jan. 29, 2024, as the official start date of the nation’s 2024 tax season when the agency will begin accepting and processing 2023 tax returns.

11/22/2023

Our office will be closing at noon today for Thanksgiving. We will re-open on Monday, November 27th. Have a safe and enjoyable holiday weekend!

09/10/2023

Thinking of filing your 1120-S return late this year? Maybe you should think again.

They are due in just a few days! (15th of September)

For returns on which no tax is due, the penalty is $220 for each month or part of a month (up to 12 months) the return is late or doesn't include the required information, multiplied by the total number of persons who were shareholders in the corporation during any part of the corporation's tax year for which the return is due.
If tax is due, the penalty is the amount stated above plus 5% of the unpaid tax for each month or part of a month the return is late, up to a maximum of 25% of the unpaid tax.
The minimum penalty for a return that is more than 60 days late is the smaller of the tax due or $450.

See link for more details:

https://www.irs.gov/instructions/i1120s

04/09/2023

Greater love hath no man than this, that a man lay down his life for his friends.

because I live, ye shall live also

No better gift can ever be given.

Happy Easter

04/05/2023

We don't just prepare tax returns, we stress eat for you too. So, if your tax situation is like my waistline and needs an extension, give us a call to get one setup.
252-689-8181

03/17/2023

Happy St. Patrick's Day!

03/09/2023

Clients that I worked with today are living in:
Japan
Cambodia
And old faithful, USA

I'm going to make a map that shows the states (and countries) I have clients in one day, but that's not today or the rest of tax season for sure.

If you can see this post, I can work with you too.

If you're wondering, these are clients that once lived around here and have moved away. I'm not that big, yet😉.

02/23/2023

If you own a business, and purchased assets over $25,000 last year, there is a chance that you can receive over $1,000 this year by knowing how to classify the depreciation expense. Not all is lost if you don't do it right, you'll get the refund over the next few years (again if you know what you are doing), but who doesn't want their money now?
"Now" is defined as this year, because it's tax season and I'm working as fast as I can, but it's not a same day turnaround.

02/03/2023

All CPAs are accountants, but not all accountants are CPAs. Check the license status of an NC CPA on the Board's website https://bit.ly/3RjdaYb. Or use CPAverify.org if you're unsure where the person is licensed.