Thompson & McCarty, P.C. CPA - Biggest, Fastest, Refund Allowed and a PEACE OF MIND accuracy guarantee!

The Ant and Grasshopper Two Tales

2010-07-15T07:20:17Z

THE ANT AND THE GRASSHOPPER This one is a little different.... Two Different Versions................. Two Different Morals OLD VERSIONThe ant works hard in the withering heat all summer long, building his house and laying up supplies for the winter. The grasshopper thinks the ant is a fool and laughs and dances and plays the summer away.. Come winter, the ant is warm and well fed. The grasshopper has no food or shelter, so he dies out in the cold.MORAL OF THE STORY: Be responsible for yourself!MODERN VERSION

RAL Bank Discontinues Business, No Need to Panic

2010-05-06T08:32:14Z

JP Morgan Chase Bank (Formerly Chase and Bank One) has notified my office that they are no longer going to participate in the Refund Anticipation Loan (RAL) program that T&M has used since our inception. They thought so much of our business relationship that they sent me the following letter on April 30, 2010 to notify me of their decision.Letter: We
are writing to let you know that we have decided to discontinue our Tax
Related Products business because it does not fit strategically with
JP Morgan Chase’s businesses. We have appreciated working with you to
help your customers and hope you share our pride in the significant
improvements we have made together over the last three years.

2010 Contest Winners

2010-05-06T08:03:33Z

Our 2010 referral contest was once again a tremendous success. I don't mind sharing with you that dollar for dollar comparisons to any other advertising that we have ever tried, your referrals are the best value. The results are final and the grand prize winner was Tanya Bender. Tanya won a 42" HDTV. Second place through 14 place all had the same number of referrals so a drawing was held. Second place ($200 gift certificate) went to Kevin and Rachel Holland and Third Place ($100 gift certificate) went to Thomas and Christina Shipp. We look forward to the 2011 filing season. If you have prize suggestions for us drop us an email or give us a call.

In support of Rodney Long

2010-04-07T04:30:32Z

Many years ago a young man named Rodney Long was a team mate of mine at Southside High School. Rodney was an all around super individual and was respected by everybody. He was killed by gun fire at point blank range by David Frye in his Freshman year at college on February 11, 1982. His reward for giving David Frye a ride. David Frye has an upcoming parole hearing and my High School Football coach, Randy Ross, is asking folks that knew Rodney to write to kimberly.gentry@tn.gov to keep this cold blooded killer behind bars. He was, after all, sentenced to life in prison for this brutal crime. There is a Facebook page group with comments about Rodney, contact information for the parole board, our plans to attend the meeting to help keep this murderer behind bars and more.

Why Incorporate And Then Do It Incorrectly?

2010-01-27T08:17:04Z

There are many different reasons for choosing to Incorporate your business. The best reason is typcially liability protection for personal assets. I see and hear stories of all kinds of poorly formed and or operated corporate entities which do little to protect the owners when they need it. Here is a well written piece from a business associate and friend that has a very good feel for this issue. The bottom line is don't do it if you do not intend to maintain the correct form which means following processes that will limit the way you conduct business.

2010 Mileage Rates

2010-01-27T08:02:04Z

The standard mileage rates for 2010 are:50 cents for business miles16.5 cents for medical miles and moving miles14 cents for charitable milesPLEASE! PLEASE! PLEASE! keep that mileage log so your tax deduction will be bullet proof!

Highlights of Changes for Individuals 2009

2010-01-15T04:45:41Z

Incentives for IndividualsTax breaks and credit enhancements for individuals include a refundable “making work pay” credit, an increased firsttime homebuyer credit, enhanced earned income and child tax credits, a deduction for taxes paid on new vehicles, and an improved education credit. Also included in the Recovery Act is a one-year AMT patch.

IRS Notice Is 10 Pages Long For Missing W-2

2009-07-28T04:10:58Z

My office has recently received two notices from the IRS
concerning a missing W-2 on a tax return. In both cases the
notice was 10 pages long and the explanation section (page 7 see pdf
below) fails to foot and cross foot per their own schedule.
This is something that is common in the computer world among
programmers that don't understand accountability and cross checking
one's work. This is not something that is acceptable in basic
accounting circles much less tax notices from the IRS.

How We Reduce Errors For Tax Preparation

2009-04-30T10:53:36Z

It may seem strange to some that I would be willing to share one of our internal business processes. I really feel that I have nothing to hide from clients or anyone else so I am very open about what we do and how we do it. In fact, I am proud of what we do and how we do it. Sharing these processes with clients simply serves to affirm what we do and educate them as to how to allow us to provide the level of service that we aspire to deliver.

Stimulus Package Q&A

2009-02-28T04:33:10Z

This is a pretty good Q&A in plain English of some of the provisions in the stimulus package. I am getting a lot of questions about the bill and this is the best information I have about the details at this time.

ALABAMA TAX REFUNDS

2009-02-27T05:29:59Z

The State of Alabama, in a sound business strategy, has an investing model for money that is going to be used for tax refunds. Basically what they do is invest the monies in serial CD's so that they CD's mature at 4 week intervals. If you happen to have your return processed on the edge of the current maturity exhausting it will take longer for your refund to process. It can be as many as 8 weeks if you file during a heavy processing time due to funds running out quickly. Their only answer during this time will be "Your return has been processed and your refund will be sent in the

A Dell Return Story

2010-01-14T05:25:37Z

I want to share my story of a server gone bad. I recently ordered a server from Dell and had my MIS provider take it to make it what I needed it to be. He discovered that the server would not load the operating system (OS) from the Windows install disk. After much work (see "Who Says Window Is Easy" vid middle of the page) he discovered that the problem was that the drivers needed to make the system work were not provided by Dell. Further, they had no intention of providing the drivers to make it work and zero method for delivery of said drivers.

Profound Quote From a Deceased Pastor

2009-02-17T06:25:30Z

"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation.. You cannot multiply wealth by dividing it."

Wild Pigs, An American Analogy

2009-04-30T08:43:13Z

Sent to me by a clientCatching Wild Pigs

A chemistry professor in a large college had some exchange students in the
class. One day while the class was in the lab the professor noticed one
young man (exchange student) who kept rubbing his back, and stretching as if
his back hurt.

The professor asked the young man what was the matter. The student told him
he had a bullet lodged in his back. He had been shot while fighting
communists in his native country who were trying to overthrow his country's
government and install a new communist government. In the midst of his story
he looked at the professor and asked a strange question. He asked, 'Do you
know how to catch wild pigs?'

The professor thought it was a joke and asked for the punch line. The young
man said this was no joke. 'You catch wild pigs by finding a suitable place
in the woods and putting corn on the ground. The pigs find it and begin to
come every day to eat the free corn.

2009 Standard Mileage Rate

2009-02-02T11:42:55Z

The 2009 Standard mileage rates are:Business Miles - 55 cent per mileMedical Miles and Moving - 27 cents per mile Charity - 14 cents per mile.Keep in mind that to make your mileage deduction bullet proof in an audit you need a good mileage log.