Howard, Moore & McDuffie, PC

Howard, Moore & McDuffie, PC HMM is an established CPA firm focused on serving our clients and our community in the field of accounting and auditing.

In today’s digital world, estate planning goes beyond physical property and financial accounts — it must also address yo...
04/30/2026

In today’s digital world, estate planning goes beyond physical property and financial accounts — it must also address your digital assets. From online financial accounts to social media profiles, cloud storage and cryptocurrency, these assets can hold both financial and sentimental value. Without proper planning, your loved ones may face significant legal and logistical challenges in managing them. One option is to designate a trusted family member or friend as a “digital executor.” His or her role is to carry out your instructions, access accounts and ensure that digital property is handled appropriately. Contact us to learn more about how to address your digital assets in your estate plan.

C corporation shareholders usually owe tax on gains from selling stock. But qualified small business (QSB) stock sales m...
04/29/2026

C corporation shareholders usually owe tax on gains from selling stock. But qualified small business (QSB) stock sales may qualify for a special gain exclusion. To be eligible for this break, certain requirements must be met.

QSB stock acquired after Sept. 27, 2010, may be eligible for a 100% gain exclusion if it’s held for at least five years. Under recent tax law changes, QSB stock acquired after July 4, 2025, may be eligible for a partial gain exclusion if it’s held for at least three years.

Contact us to learn whether this tax-saving strategy is right for your business. We can help structure your business to unlock the potential tax savings and navigate the complex rules.

After you’ve filed your 2025 tax return, what’s next? Here are a few to-dos: 1) Check your refund status by going to irs...
04/28/2026

After you’ve filed your 2025 tax return, what’s next? Here are a few to-dos: 1) Check your refund status by going to irs.gov and either logging into your IRS account or using the refund tracker. 2) If you forgot to report some deductible 2025 expenses (or anything else), file an amended tax return to claim those deductions and potentially increase your refund. 3) Store your return and supporting documents in a secure place where you’ll easily be able to find them if needed. 4) Turn your tax focus to 2026 planning. We can help project your income, deductions and credits for the year and propose strategies you can implement in the coming months to reduce your taxes. Contact us to get started.

Here are a few key tax-related deadlines for individuals for the rest of 2026. JUNE 15: Pay the second installment of 20...
04/27/2026

Here are a few key tax-related deadlines for individuals for the rest of 2026. JUNE 15: Pay the second installment of 2026 estimated taxes, if applicable. SEPT. 15: Pay the third installment of 2026 estimated taxes, if applicable. OCT. 15: File a 2025 income tax return and pay any tax, interest and penalties due if an automatic six-month extension was filed. DEC. 31: Incur various expenses that potentially can be deducted on your 2026 tax return. Contact us for more information about the filing requirements and to help ensure you meet all deadlines that apply to you.

Life insurance can provide peace of mind. But if your estate is large enough that estate taxes are a concern, it’s impor...
04/10/2026

Life insurance can provide peace of mind. But if your estate is large enough that estate taxes are a concern, it’s important not to own the policy at death. The policy’s proceeds will be included in your taxable estate. To avoid this result, you can create an irrevocable life insurance trust (ILIT) to hold the policy. But a time may come when you no longer need the ILIT. Does its irrevocable nature mean you’re stuck with it forever? Maybe not. Depending on the ILIT’s terms and applicable state law, you might be able to pull a life insurance policy out of an ILIT or even unwind the ILIT entirely. Options may include allowing the policy to lapse or swapping the policy for cash or other assets.

Companies that engage in research and development activities may qualify for a federal tax credit for some of those expe...
04/09/2026

Companies that engage in research and development activities may qualify for a federal tax credit for some of those expenses. The research credit is complicated to calculate, and not all research activities are eligible. But the tax savings can be significant. Certain taxpayers may even be able to use the credit to offset employer-paid payroll taxes or the owners’ alternative minimum tax obligations.

We can help you navigate the complexities of claiming this credit, including how it works, which costs may qualify and how it interacts with the deduction for research and experimentation costs. Contact us to discuss your business’s eligibility and quantify the potential benefits.

If you’re not ready to file your 2025 federal individual income tax return by April 15, you can request an automatic ext...
04/08/2026

If you’re not ready to file your 2025 federal individual income tax return by April 15, you can request an automatic extension. Filing an extension (Form 4868) by April 15 can give you breathing room to file accurately and protect you from the failure-to-file penalty (assuming you file by the extended Oct. 15 deadline).

But it doesn’t extend your deadline for paying tax owed. So you should project and pay any amount due by April 15 to minimize interest and late payment penalties.

Have questions about your situation? Need assistance estimating your tax liability or filing an extension? Contact us. We can help you stay compliant and minimize penalties and interest.

How you capitalize your C corporation isn’t just an accounting matter — it’s a tax-saving opportunity. You can set up fu...
04/08/2026

How you capitalize your C corporation isn’t just an accounting matter — it’s a tax-saving opportunity. You can set up funds supplied by shareholders as either capital contributions (equity) or loans (debt).

Future withdrawals by equity investors may result in double taxation. Conversely, repayments of shareholder loans are generally tax-free, while interest payments are taxable to the shareholder and deductible by the corporation. This setup provides a more tax-efficient way to get money out of your company. However, the IRS may reclassify shareholder loans as equity if not properly structured and documented. Contact us to evaluate your options and determine what’s right for your situation.

Some businesses may claim tax deductions for animals that perform a legitimate business function. Guard dogs that protec...
03/20/2026

Some businesses may claim tax deductions for animals that perform a legitimate business function. Guard dogs that protect property or cats that control rodents in warehouses are common examples of “working animals.” If an animal provides a clear and direct business benefit, certain expenses (such as food, veterinary care, training and supplies) may qualify as ordinary and necessary business expense deductions. However, the IRS draws a clear line between bona fide working animals and household pets. Contact us to discuss your situation. We can explain the tax rules and documentation needed to support animal-related business deductions.

Nonprofit organizations often juggle multiple programs, funding sources and staffing structures, making accurate time tr...
03/19/2026

Nonprofit organizations often juggle multiple programs, funding sources and staffing structures, making accurate time tracking essential. Furthermore, federal and state wage and hour laws require certain records be kept, and grantmakers may impose additional reporting standards. But strong timekeeping practices do more than satisfy compliance requirements. With accurate data, organizations can better evaluate program costs, improve budgeting and make informed decisions about future initiatives and funding opportunities. If you have questions about timekeeping best practices or software, we can help.

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577 Mulberry Street, Ste 1610
Macon, GA
31201

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Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

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(478) 742-5317

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