Scott and Company Advisor

The IRS has long been a bogeyman for the American public, and there’s good reason for that. They have the unique ability to do what few other creditors can: taking your home and selling it out from under you. Still, despite its remarkable powers, fear has created mythologies around the agency. People both overestimate and…

Before the COVID-19 pandemic, the IRS was getting refunds out swiftly and responded to calls and correspondence in a reasonable amount of time. However, COVID-19 brought about a perfect storm of delays, initially caused by employees having to stay home because lockdowns prevented processing centers from operating and workers from going to their offices. And…

Though it’s natural for management to focus on its profit-making areas, the importance of a sound accounting foundation to support the operation cannot be overemphasized. The more diligent and meticulous your accounting team is, the more easily the rest of the organization can function and grow. If the system you currently have in place is…

On March 11, 2021, President Biden signed PL 117-2 otherwise known as the American Rescue Plan Act of 2021 (ARP bill). President Biden’s $1.9 trillion COVID-19 relief package aimed at stabilizing the economy, providing needed relief to individuals and small businesses, and improving and accelerating the administration of coronavirus vaccines and testing. The relief package, which…

Scott and Company LLC, a CPA firm located in Columbia, South Carolina, is pleased to announce that the firm was recently recognized as #1 in its category in the Best Places to Work in South Carolina awards program. Scott and Company has appeared consecutively on this annual list for ten years. This year, the firm…

As more employers bring employees back to the workplace and navigate new CDC guidance on mask-wearing, they may have questions about whether they can ask about an employee or applicant’s COVID-19 vaccination status. Here are answers to frequently asked questions about vaccination inquiries. Q: Would asking employees to show proof that they received the COVID-19…