HBC CPAs

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HBC CPAs HBC is Washington County’s most trusted firm for accounting, assurance, tax, audits, and business consulting.

Business looking profitable, but cash still feels tight? That can happen. 💡Profit and cash flow tell different stories. ...
10/20/2026

Business looking profitable, but cash still feels tight? That can happen. 💡

Profit and cash flow tell different stories. Profit reflects revenue minus expenses, while cash flow tracks when money actually comes in and goes out.

Unpaid customer invoices, inventory purchases, and loan payments can all affect the cash available to cover your next bill.

A few questions worth asking:

📝 Which customer payments are still outstanding?
📝 What bills and payroll expenses are coming up?
📝 Will the timing of incoming payments cover those commitments?

Looking at both profit and cash flow can help you make more informed decisions—and spot a squeeze before it becomes a scramble.

Need help making sense of your business’s numbers? Our team is here to help.

firmcpa.com | (276) 628-1123

Your future self will appreciate a little organization now. 📁With year end getting closer, this is a good time to start ...
10/16/2026

Your future self will appreciate a little organization now. 📁

With year end getting closer, this is a good time to start gathering your 2026 records and spotting anything that’s missing.

A few places to start:
✓ Organize receipts and records of income and expenses.
✓ Business owners: reconcile bank and credit card accounts and review uncategorized transactions.
✓ Bring mileage logs up to date and gather documentation for equipment purchases.
✓ Keep records of charitable gifts and estimated tax payments together.
✓ Make a note of major changes—like a new business, a home sale, or a change in your family.

You don’t need to have everything today. W-2s and many 1099s will arrive next year, but organizing what you already have can make tax preparation much smoother.

Not sure what to gather for your situation? Check in with our team so we can help you prepare.

firmcpa.com | (276) 628-1123

Tax returns are one part of what we do. At HBC CPAs, we help individuals, families, and businesses navigate financial de...
10/13/2026

Tax returns are one part of what we do. At HBC CPAs, we help individuals, families, and businesses navigate financial decisions throughout the year.

Our services include:

📝 Individual and business tax planning and preparation
📝 Bookkeeping, accounting, and payroll
📝 Business and CFO consulting
📝 Financial statements, audits, and reviews
📝 Business valuations and succession planning
📝 Financial, estate, and trust planning

Whether you need help keeping the books in order or thinking through your next big step, you’ll find an approachable team ready to get to know you and your goals.

Right here in Abingdon, and here for you throughout the year.

firmcpa.com | (276) 628-1123

Getting paid through a payment app or online marketplace? Here's one tax myth worth clearing up. 💡Not receiving a Form 1...
10/08/2026

Getting paid through a payment app or online marketplace? Here's one tax myth worth clearing up. 💡

Not receiving a Form 1099-K doesn't mean your business income is tax-free.

Under current federal rules, payment apps and online marketplaces generally must issue a 1099-K when payments for goods or services exceed $20,000 AND exceed 200 transactions. You may still receive a form below those thresholds, and different rules apply to direct payment-card transactions.

The practical takeaway: keep track of your business income and expenses throughout the year, whether a tax form arrives or not. Personal gifts and reimbursements from friends or family generally aren't taxable income.

Have questions about how your payments should be recorded? Our team can help you sort them out.

firmcpa.com | (276) 628-1123

Our team is working hard to help folks get those tax returns into the IRS by the October 15 deadline! 🗓️Here’s staff acc...
10/06/2026

Our team is working hard to help folks get those tax returns into the IRS by the October 15 deadline! 🗓️

Here’s staff accountant, Kimberly, at work as we help clients wrap up their filings.

For most taxpayers who requested an extension for their 2025 federal individual tax return, October 15 is the filing deadline. If you still have documents to send us, now’s a great time to gather those last few items and check in.

Questions about what’s still needed? Give our team a call—we’re here to help.

firmcpa.com | (276) 628-1123

This weekend, October 2 and 3, the Damascus Festival of Miles comes to Damascus Town Park. 👟🎶Damascus has long been know...
09/30/2026

This weekend, October 2 and 3, the Damascus Festival of Miles comes to Damascus Town Park. 👟🎶

Damascus has long been known as Trail Town USA, a place where trails, travelers, and neighbors all come together. Community events like this one celebrate that spirit and support the local businesses that make our region special.

HBC CPAs has served Southwest Virginia since 1983, and we're proud to call this corner of the Blue Ridge home. If you're headed to Damascus this weekend, enjoy the festival, and be sure to shop local while you're there.

firmcpa.com
(276) 628-1123

Filed an extension back in April? Here's your friendly reminder that October 15 is coming up fast. 🍂We get it. Extension...
09/28/2026

Filed an extension back in April? Here's your friendly reminder that October 15 is coming up fast. 🍂

We get it. Extensions happen for all kinds of good reasons, like a late K-1, a busy season at work, or life simply getting in the way. The extension gave you six extra months to file, though, not six extra months to pay. Interest has been adding up since April, and a missed October deadline can bring penalties too.

The good news is that there's still time. If you've been putting it off, let's get it done together. Give us a call or stop by the office, and we'll help you wrap up your 2025 return without the last-minute scramble.

firmcpa.com
(276) 628-1123

Relief for Drought-Affected Farmers & Ranchers 🐄The IRS just extended tax relief for farmers and ranchers who were force...
09/23/2026

Relief for Drought-Affected Farmers & Ranchers 🐄

The IRS just extended tax relief for farmers and ranchers who were forced to sell livestock due to drought conditions over the past year.

If you sold draft, dairy, or breeding livestock because of drought, you may now have up to four years (instead of the standard two) to replace that livestock and defer capital gains tax on the sale.

This applies to farmers and ranchers across 49 states, including much of our region. If drought conditions affected your operation this year, this relief could make a real difference at tax time.

Questions about whether your situation qualifies? We're here to help.

firmcpa.com
(276) 628-1123

There's nothing quite like fall in Southwest Virginia. The mornings get that little bite to them, the mountains start tu...
09/22/2026

There's nothing quite like fall in Southwest Virginia. The mornings get that little bite to them, the mountains start turning, and Abingdon starts feeling extra cozy.

We're grateful to call this region home and to work alongside so many of the people and businesses that make it special. Here's to a beautiful season ahead.

firmcpa.com
(276) 628-1123

Fall is a great time to clear out the paper pile. 📃A good rule of thumb: keep tax returns and supporting records for at ...
09/17/2026

Fall is a great time to clear out the paper pile. 📃

A good rule of thumb: keep tax returns and supporting records for at least three years, longer if they involve property or business assets. When in doubt, ask us before you shred. We'd rather help you keep the right documents than see you scrambling later.

💻 firmcpa.com | 📞 (276) 628-1123

Address

155 East Valley Street
Abingdon, VA
24210

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

+12766281123

Website

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