Harwood & Associates Accounting and Tax Service, Inc.

02/20/2026

01/26/2026

Today is the first day of the 2025 tax filing season!

An IRS fact sheet explains when overtime compensation qualifies for the H.R. 1 deduction and how Fair Labor Standards Act rules apply, including for federal employees.

01/11/2026

Buckle up, it’s going to be a taxing, tax season!!!

03/24/2025

BOI breaking news!!

FinCEN issued an interim final rule Friday removing the requirement for U.S. companies and U.S. persons to report beneficial ownership information under the Corporate Transparency Act.

04/22/2023

Yup!

02/28/2023

Haha! I KNOW what depreciation is!

02/17/2023

It’s been that kinda week!

01/28/2023

Borrowing from a friend!

Please understand what NOT using cash is doing. Why should we pay with cash instead of a card?
- Imagine I have a $50 bill in my pocket. I go to a restaurant and pay for dinner with it. The restaurant owner then uses the bill to pay for the laundry, the laundry owner then uses the bill to pay his barber and the barber uses the bill for shopping. After an unlimited number of payments, it will still remain $50, which has fulfilled its purpose to everyone who used it for payment and the bank is left dry from every cash payment transaction made...
- But if I go to a restaurant and pay digitally - with a card, the bank fees for my payment transaction charged to the seller are 3%, so around $1.50 and the same $1.50 fee charged for each further payment transaction afterwards (owner to laundry shop, barber etc.) Therefore, after 30 transactions, the initial $50 will remain only $5 and the remaining $45 became the property of the bank thanks to all the digital transactions and fees.
When this is put into perspective, imagine what each retailer is paying on a monthly basis in fees at 3% per transaction through their machines. If they have, for example, $50,000 in sales & 90% are by Card, they are paying $1500 in fees in ONE Month. $18,000 in a year.

Especially use cash when paying your hairdresser, massage therapist, small business owners, etc. They rarely charge a card processing fee, yet they pay high fees to the card companies.”🇺🇸$🇺🇸$🇺🇸$🇺🇸$🇺🇸

07/22/2021

An tool now enables families to quickly and easily unenroll from receiving monthly payments of the , if they so choose. https://go.usa.gov/x6y6s

05/08/2021

Excellent, accurate article!

Yesterday Treasury Secretary Janet Yellen tweeted “It's a stunning achievement. In the midst of a crisis, the IRS has put on a masterclass in implementation and how the machinery of government should work.” The pushback from tax industry professionals was immediate and vehement.

04/15/2021

Just a friendly reminder! For both federal and Virginia.

We appreciate your patience with us as we work through the most challenging tax season yet for so many different reasons.

As always, thank you for your support!