News and Events

Did you receive Economic Impact Payments (EIP) one and two from the Internal Revenue Service? It is very important to communicate the dollar amount you have received thus far with your tax preparer for the completion of your 2020 tax return. Sharing this information will save preparation time, help to expedite your return quickly, and […]

2020 was a tough year for many people who found themselves supplementing their income to survive financially. It is very important to not forget that this gig economy income must be reported on your tax return. Many of these types of jobs helped people to connect with customers providing goods or services, such as renting […]

MSA would like to welcome our newest Staff Accountant, Emily White. Emily was an intern for our company last summer and graduated in December with a Bachelor of Science in Accounting from Appalachian State University. She grew up near the mountains in Asheville, North Carolina, which is where she learned her love of hiking, fishing and […]

Millions of Americans received unemployment compensation in 2020. These are taxable benefits and withholding is voluntary. However, if taxes were not withheld, they may be owed on 2020 returns. By law, unemployment compensation is taxable and must be reported on a 2020 federal income tax return. Taxable benefits include any of the special unemployment compensation […]

Organizing your tax records is the first step to getting ready to prepare and file your 2020 tax return. Keeping all of your essential records (i.e. W-2s, 1099s, receipts, canceled checks and other tax support documents) together in one area will help you to be better organized when preparing your returns or sending them to your […]

A Hickory native and graduate of Elon University and Appalachian State University, Stacee Rash joined Martin Starnes and Associates, CPAs, P.A., in 2009 after two years with a national firm. Stacee is known for holding herself and others to high standards and taking pride in everything she does. She is an advocate for coaching, advising, and supporting […]

The Internal Revenue Service (IRS) recently announced that February 12, 2021, will be the first day they will begin accepting and processing 2020 tax year returns. This later date allows the IRS time for additional programming and testing of their systems after the tax law changes that were announced December 27, 2020 providing a second round of […]

We are eager to serve you and want to share our safety protocols related to Covid-19 this tax season. Let us assure you that we are taking the necessary precautions to protect both our clients and our employees to allow us to continue serving you throughout this pandemic, but we need your help! Below are a […]

The application window for Paycheck Protection Program (PPP) forgivable loans will open Friday, January 15, for loans issued by smaller lenders and Tuesday, January 19, for loans issued by large banks. The linked article discusses details of the program. First time PPP borrowers may be eligible for $35 billion of new funding, which is available for […]

On December 31, 2020, the federal Families First Coronavirus Response Act (“FFCRA”) expired. This act required employers with fewer than 500 employees provide sick and family leave benefits for certain COVID-19 related reasons. It was thought that the FFCRA’s sick and family leave provisions would stretch into 2021 as part of the pandemic relief package […]