4 reasons not to borrow from your 401(k)

Many 401(k) plans allow participants to borrow as much as 50% of their vested balance, up to $50,000. These loans are easy to get and interest rates are low, yet they should be considered only as last resorts. Here’s why:

  1. You lose the benefit of tax-deferred compounding on the money you borrow.
  2. You may have to reduce or eliminate contributions during the loan term – forfeiting employer matches and future earnings on those contributions.
  3. If you lose your job, you typically have only between 30 and 90 days to repay the outstanding balance.
  4. Your outstanding balance is taxed as a distribution (and 1 0% penalty applies if you are under 59½) if you don’t fulfill repayment terms.

Other rules and conditions apply. Contact us for more details.



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IRS Online Tool to Assist Taxpayers

IRS Online Tool to Assist Taxpayers with Basic Account Information

This secure tool, available on allows taxpayers to view their IRS account balance, which will include the amount they owe for tax, penalties and interest. Taxpayers may also continue to take advantage of the various online payment options available by accessing any of the payment features including: direct pay, pay by card and Online Payment Agreement.

The new features added include the ability to:

  • View up to 18 months of tax payment history
  • View payoff amounts and tax balance due for each tax year
  • Obtain online transcripts of various Form 1040-series through Get Transcript
  • Give feedback on their experience with their online account and make suggestions for improvement.
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Preventing fraud in your business

Preventing Fraud in Your Business

Employee fraud is a significant problem faced by organizations of all sizes, types and industries. While we would all like to believe our employees are loyal and working for the benefit of the organization, unfortunately there are still many reasons why some employees may commit fraud.

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2013 Taxes

Have you filed your 2013 tax return? Come see us today!

You may have a refund waiting for you.


The IRS estimates $1 Billion in refunds for unfiled 2013 tax returns.  The IRS grants a 3 year window to file a tax return in order to receive a refund if you are owed one.  It is very interesting that so many people have not filed their 2013 tax return.  The IRS estimates the midpoint for potential refunds for 2013 at $763.

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Tax Season is here. Are you ready?

Although tax season doesn’t officially begin until next week, it is important to get ready and file as early as possible to avoid any unneeded stress by using these tips to prepare for the 2017 tax season now.

Here are a few tips to prepare for Tax Season 2017

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Arkansas CPA Society Celebrates 100 Years, Plans Centennial Event

Arkansas CPA Society Celebrates 100 Years, Plans Centennial Event

On September 11, 2016, The Arkansas Society of Certified Public Accountants (Arkansas CPA Society) will mark its 100th anniversary. The organization has since grown to become one of the largest professional associations in Arkansas with more than 3,600 members.

To recognize the centennial anniversary, Arkansas Governor Asa Hutchinson has issued an official Proclamation, declaring September 11, 2016 as Certified Public Accountants Day, to honor and celebrate the Centennial anniversary of the Arkansas Society of CPAs and to increase awareness of the significance of the organization and its importance. Allen Pierce, was among the distinguished group of CPA’s invited by Arkansas Governor Asa Hutchinson to celebrate such an important event for the accounting industry.

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