Matthews, Carter & Boyce

Matthews, Carter & Boyce Our priority is to enhance the growth and success of each client organization in every industry we serve. We hire the best people, and invest in their success.

We're proud to be a five-time recipient of Accounting Today's "Top 100 Firms to Work For." MCB’s personalized attention, expert accounting & tax services and long term commitment to our clients as CPAs & Advisors has been the difference between adequate accounting service and truly professional service for over 70 years in the Washington, DC area.

We're proud to be a five-time recipient of Accounting Today's "Top 100 Firms to Work For." MCB’s personalized attention, expert accounting & tax services and long term commitment to our clients as CPAs & Advisors has been the difference between adequate accounting service and truly professional service for over 70 years in the Washington, DC area.

Operating as usual

Even if you're just doing a little freelance work on the side, it's important for sole propietors to understand how to r...
11/17/2020
Filing Responsibilities With Income or Loss From Business | MCB Advisors

Even if you're just doing a little freelance work on the side, it's important for sole propietors to understand how to report income. Here's the nuts and bolts of filing:
https://www.mcb-cpa.com/filing-responsibilities-with-income-or-loss-from-business/

#Freelancer #Freelancing #freelancework #entrepreneur

Even if you're doing a little freelance work from a home office, you're technically running a business and have some new tax responsibilities that you didn't have working entirely for wages. One of those requirements is filing Schedule C, which is used to report income or loss from a business you op...

From social security to health savings accounts to inflation adjustments and more...a breakdown of the changes that may ...
11/09/2020
By the Numbers: The Key Adjustments for 2021 | MCB Advisors

From social security to health savings accounts to inflation adjustments and more...a breakdown of the changes that may impact you and your business in 2021:
https://www.mcb-cpa.com/by-the-numbers-the-key-adjustments-for-2021/

What will 2021 bring us? After a year of turmoil and surprises, no one has a clear crystal ball. But there are some certainties, and one is that the federal government is changing a variety of number affecting the finances of businesses and individuals.

Forward-thinking companies realize the need to be prepared for future disruption. Here are 4 ways companies can build a ...
11/05/2020
Changing Culture to Manage Future Disruptions | MCB Advisors

Forward-thinking companies realize the need to be prepared for future disruption. Here are 4 ways companies can build a more resilient and agile firm culture:
https://www.mcb-cpa.com/changing-culture-to-manage-future-disruptions/

If the COVID-19 pandemic taught businesses anything, it is that resilience and agility matter. Companies that never thought about operating remotely were forced to change to virtual companies in the blink of an eye.

If you're a business owner who has considered filing for bankruptcy, understanding all your options is vital.  Here, we ...
11/04/2020
Is a Business Bankruptcy the End of the Line? | MCB Tax Advisors

If you're a business owner who has considered filing for bankruptcy, understanding all your options is vital. Here, we break down what you should consider:
https://www.mcb-cpa.com/is-a-business-bankruptcy-the-end-of-the-line/

These are tough times, and the many business owners are facing severe hardships. Government loans and grants are keeping some afloat for the time being, and that is good news. The prospect of additional government loans to small businesses also can help. The prospect of bankruptcy looms in the backg...

Are you an American living overseas? Here are 3 tax benefits you should know about:https://www.mcb-cpa.com/expats-and-th...
10/30/2020
Expats and Their Tax Situation | MCB Tax Advisor

Are you an American living overseas? Here are 3 tax benefits you should know about:
https://www.mcb-cpa.com/expats-and-their-tax-situation/

#TaxTip

As the IRS explains, if you are a U.S. citizen or resident alien, the rules for filing income, estate, and gift tax returns and paying estimated taxes are generally the same whether you are in the United States or abroad. Your worldwide income is subject to U.S. income tax, regardless of where you r...

The pandemic has taught us that resiliency must be part of strategic planning moving forward.  Read more about emerging ...
10/29/2020
A New Normal in an Uncertain World

The pandemic has taught us that resiliency must be part of strategic planning moving forward. Read more about emerging business strategies:
https://www.mcb-cpa.com/a-new-normal-in-an-uncertain-world/

Traditionally, strategic planning provided a road map for a future that was fairly predictable. The pandemic changed that in a dramatic fashion. Today’s business landscape is fraught with uncertainty, yet we are finding ways to deal with a new normal that is still a work in progress.

Thinking about retiring? Here are 6 things to consider to ensure you're ready:https://www.mcb-cpa.com/are-you-ready-to-r...
10/20/2020
Are You Ready To Retire Early? | MCB Advisors

Thinking about retiring? Here are 6 things to consider to ensure you're ready:
https://www.mcb-cpa.com/are-you-ready-to-retire-early/

#retirement #earlyRetirement

Maybe your job, even your entire sector, has disappeared in 2020's economic turmoil. Or perhaps you are just reaching a point at which you are ready to take the next step in your life. It's possible you want to leave your corporate job for something more creative where you can make your own hours.

Every fall, Social Security Administration updates key numbers for the coming year.  Here's the latest, including news o...
10/19/2020
SSA Announces COLA and Max Earnings for 2021

Every fall, Social Security Administration updates key numbers for the coming year. Here's the latest, including news on cost-of-living change:
https://www.mcb-cpa.com/ssa-announces-cola-and-max-earnings-for-2021/

The Social Security Administration typically updates key numbers for the upcoming year in the fall. One of the key numbers for retirees is the cost-of-living change: A 1.3% increase will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2021.

Many have tried to turn their hobbies into revenue generators to make up for lost wages.  The #IRS weighs in on the diff...
10/12/2020
Hobby or Business: The IRS Takes a Stand | MCB Advisors

Many have tried to turn their hobbies into revenue generators to make up for lost wages. The #IRS weighs in on the difference between hobby and business:
https://www.mcb-cpa.com/hobby-or-business-the-irs-takes-a-stand/

#newbusiness #CPAFirm

From a tax perspective, the distinction between hobbies and businesses is important because businesses can deduct losses, but hobbies cannot. The Tax Cuts and Jobs Act kept the itemized deductions for allocable mortgage interest and property taxes. However, by eliminating virtually all miscellaneous...

Parents and students:  you may be eligible for tax benefits to help with higher education expenses.  Learn more:https://...
10/06/2020
What to Know About Education Credits | MCB Advisors

Parents and students: you may be eligible for tax benefits to help with higher education expenses. Learn more:
https://www.mcb-cpa.com/what-to-know-about-education-credits/

#taxcredits #TaxTipTuesday

The American Opportunity Tax Credit is a credit for qualified education expenses paid for an eligible student for the first four years of higher education. The maximum annual credit is $2,500 per eligible student. Should the credit bring the tax you owe to zero, you can have 40% of any remaining amo...

Does workers' comp cover COVID-19? The answer is a bit complicated. Learn more: https://www.mcb-cpa.com/does-workers-com...
10/01/2020
Does Workers' Comp Cover COVID-19? | MCB Tax Advisors

Does workers' comp cover COVID-19? The answer is a bit complicated. Learn more:
https://www.mcb-cpa.com/does-workers-comp-cover-covid-19/

The answer is complicated," says an online article published by the National Conference of State Legislatures. It notes that workers' comp typically "does not cover routine community-spread illnesses like a cold or the flu because they usually cannot be directly tied to the workplace." There are exc...

Join us TOMORROW, with our friends FlexProfessionals DC as we celebrate women entrepreneurs and leaders! With our virtua...
09/28/2020
MCB to host panel discussion on Female Entrepreneurship: Pivot and Power Ahead

Join us TOMORROW, with our friends FlexProfessionals DC as we celebrate women entrepreneurs and leaders! With our virtual panel, we delve into the entrepreneurial mindset, the demands on us during these difficult times, and how we can continue to amplify our voices and seek out opportunity.
Register here:
https://www.mcb-cpa.com/mcb-to-host-panel-discussion-on-female-entrepreneurship-pivot-and-power-ahead/

n September 29, MCB will host a virtual "meet and greet" where panelists will discuss the entrepreneurial journey and mindset, the demands on us during these unprecedented times, and how we can take advantage of this time to amplify our voices and continue to seek out opportunity and promise.

The IRS has just published its list of recent tax scams, including fake charities and how to spot them.  An important re...
09/24/2020
Tax Scams: The Pandemic Edition

The IRS has just published its list of recent tax scams, including fake charities and how to spot them. An important read:
https://www.mcb-cpa.com/tax-scams-the-pandemic-edition/

#TaxScam

The IRS has published its annual list of "dirty dozen" tax scams. They do this every year, but 2020 is special, as the scammers have managed to turn the pandemic to their advantage. Contact an MCB Tax Advisor at 703.218.3600

The IRS has revised Form 941 to accommodate COVID-19 related employment tax credits.  Check out the details here:https:/...
09/22/2020
IRS Updates Form 941 To Reflect COVID-19 Tax Credits

The IRS has revised Form 941 to accommodate COVID-19 related employment tax credits. Check out the details here:
https://www.mcb-cpa.com/irs-updates-form-941-to-reflect-covid-19-tax-credits/

#TaxTipTuesday

The IRS has revised Form 941, Employer's Quarterly Federal Tax Return, to accommodate COVID-19-related employment tax credits granted under the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security Act.

#1 in Northern Virginia!  We recently learned we were named to Accounting Today's list of Best Accounting Firms to Work ...
09/21/2020
2020 Accounting Today’s Best Accounting Firms to Work for

#1 in Northern Virginia! We recently learned we were named to Accounting Today's list of Best Accounting Firms to Work For -- and just learned we're at the top of the roster in our community. Of all the things we're proud of, our team tops the list.

#community
https://www.mcb-cpa.com/2020-accounting-todays-best-accounting-firms-to-work-for/

Matthews, Carter & Boyce is pleased to announce the firm has been selected as a 2020 Accounting Today’s Best Accounting Firms to Work for. Accounting Today partnered with Best Companies Group to identify companies that have excelled in creating quality workplaces for employees. 2020 is the 5th yea...

How should employers prepare to bring their teams back to the workplace? Here are 4 suggested first steps:https://www.mc...
09/17/2020
How Workers Can Return | MCB Advisorsa

How should employers prepare to bring their teams back to the workplace? Here are 4 suggested first steps:
https://www.mcb-cpa.com/how-workers-can-return/

In April 2020, the Brookings Institution reported that due to COVID-19, "up to half of Americans are currently working from home, more than double the fraction who worked from home (at least occasionally)" in 2017-2018. While the pandemic is fast-tracking the telecommuting trend, for some employers....

How has the pandemic changed the way you engage with customers & coworkers?  Some interesting insight into how we're all...
09/15/2020
Rethinking the Way We Communicate | MCB Advisors

How has the pandemic changed the way you engage with customers & coworkers? Some interesting insight into how we're all rethinking the way we communicate:
https://www.mcb-cpa.com/rethinking-the-way-we-communicate/

Has the pandemic inspired you to explore new ways to engage with customers, co-workers and clients? It probably has you taking a hard look at your strategies, policies and procedures to safely and effectively work with those inside and outside your organization. Using texts, webcasts and social medi...

When are home equity loans tax-deductible?  Knowing the answer could save you thousands of dollars:https://www.mcb-cpa.c...
09/10/2020
Home Equity Loans Are Deductible -- Sometimes

When are home equity loans tax-deductible? Knowing the answer could save you thousands of dollars:
https://www.mcb-cpa.com/home-equity-loans-are-deductible-sometimes/

Contrary to rumors, the Tax Cuts and Jobs Act of 2017 allows taxpayers who buy, build or substantially improve their homes using either a home equity loan, home equity lines of credit (HELOC) or second mortgages to deduct interest on the loans. That's the good news. But if you take out the loan to p...

Thinking about how to upskill, reskill or recharge?  Some things to keep in mind if you're considering a career change r...
09/09/2020
Post-Pandemic: Time for a Career Change

Thinking about how to upskill, reskill or recharge? Some things to keep in mind if you're considering a career change right now:
https://www.mcb-cpa.com/post-pandemic-time-for-a-career-change/

Has your industry been hit particularly hard by the pandemic? Does your employer specifically seem shaky? Is changing jobs likely? It may be time to think about a new career. If you're in the travel industry, you know it's been badly affected by the coronavirus. How long will it take your industry t...

The state unemployment tax: what every employer should know:https://www.mcb-cpa.com/the-state-unemployment-tax-know-the-...
09/04/2020
The State Unemployment Tax: Know the Story | MCB Advisors

The state unemployment tax: what every employer should know:
https://www.mcb-cpa.com/the-state-unemployment-tax-know-the-story/

Although most wages are subject to SUTA tax, certain wages may be exempt. In New York, for example, wages paid to babysitters under 18 years of age, church employees, and certain family members are exempt from SUTA tax. Therefore, it’s essential to check with your state unemployment agency to dete...

If you haven't thought about it in a while, now is a good time to revisit your estate plan.  Here are some easy steps to...
09/03/2020
Now Is the Time To Revisit Your Estate Plan | MCB Advisors

If you haven't thought about it in a while, now is a good time to revisit your estate plan. Here are some easy steps to help you get started:
https://www.mcb-cpa.com/now-is-the-time-to-revisit-your-estate-plan/

The physical and financial health challenges caused by the COVID-19 pandemic gave us time to rethink our priorities and expectations. Estate planning is one area that has received a lot of attention, and for good reason. Here are three basic areas to review as you reassess your estate plan:

Thank you to the first responders who serve our community!
09/01/2020

Thank you to the first responders who serve our community!

Big thanks for the food donation by Matthews, Carter & Boyce and to Hamrock's Restaurant for preparing it! We appreciate it!

We were proud to partner with Hamrock's Restaurant in Fairfax to donate and deliver meals to first responders in our com...
09/01/2020
MCB to Deliver Meals to Fairfax Police Officers and First Responders

We were proud to partner with Hamrock's Restaurant in Fairfax to donate and deliver meals to first responders in our community last Friday!
https://www.mcb-cpa.com/mcb-to-deliver-meals-to-fairfax-police-officers-and-first-responders/

City of Fairfax Police Department #MCBCares

On Friday, August 28 MCB staff will participate in a firm-wide effort to deliver meals to Fairfax County and Fairfax City police and fire stations. 100 meals will be picked up and distributed to our community's police officers, first responders and firefighters. The meals are being donated by Hamroc...

Address

12500 Fair Lakes Cir
Fairfax, VA
22033

Opening Hours

Monday 09:00 - 17:30
Tuesday 09:00 - 17:30
Wednesday 09:00 - 17:30
Thursday 09:00 - 17:30
Friday 09:00 - 17:30

Telephone

(703) 218-3600

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