Hodges & Wreyford LLC.

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Hodges & Wreyford LLC. A small regional public CPA firm offering Audit, Accounting, Payroll, Tax and Consulting services

If you’ve recently received a legal settlement or award, it’s critical to understand the tax implications. Generally, co...
10/15/2026

If you’ve recently received a legal settlement or award, it’s critical to understand the tax implications. Generally, compensation for physical injuries or sickness is tax-free. But awards for lost wages, emotional distress and punitive damages typically are taxable. Attorneys’ fees are another area that can trip up recipients. Even if your lawyer is paid directly out of your settlement, you’re generally taxed on the full amount before fees are deducted. This means you may owe tax on money you never actually receive. The bottom line is that the way a settlement is structured can significantly affect your tax liability, making professional guidance essential. Call us today at (318) 725-2272 for assistance.

Many businesses allow customers to pay with credit and debit cards, payment apps, and other electronic payment methods. ...
10/14/2026

Many businesses allow customers to pay with credit and debit cards, payment apps, and other electronic payment methods. Payment processors and platforms often deduct their fees before transferring funds, but you generally shouldn’t report the net amount as revenue. Instead, record the full amount of each sale as revenue and post the processing fee as an operating expense. Keeping these amounts separate shows how much you’re spending to accept electronic payments and whether rising processing costs are eating into your profits. Contact us at (318) 725-2272 for help reconciling processor statements with your accounting records and evaluating your payment mix.

Are you ready for your next financial statement audit? A well-planned audit is typically more efficient, less disruptive...
10/13/2026

Are you ready for your next financial statement audit? A well-planned audit is typically more efficient, less disruptive and easier to manage than one that relies on last-minute preparation. Before fieldwork starts, inform your auditor about significant business developments, resolve accounting questions, review last year’s adjustments and control recommendations, and organize supporting documentation. Complete records, clear responsibilities and prompt responses can help avoid delays and minimize surprises. Contact us at (318) 725-2272 to coordinate audit planning and address potential issues early.

The IRS says you’re deceased, but you’re very much alive. It sounds unbelievable, but this unusual situation can happen ...
10/12/2026

The IRS says you’re deceased, but you’re very much alive. It sounds unbelievable, but this unusual situation can happen when an incorrect Social Security number (SSN) is entered on your tax return or when Social Security Administration (SSA) records mistakenly indicate that you or your spouse have died. If you receive IRS Notice CP01H, verify that the SSN on the return in question matches your Social Security card. If it does, contact the SSA to see whether its records need to be corrected. Then follow the notice instructions to unlock your IRS account. Call us at (318) 725-2272 for help resolving this issue promptly.

Are you paid to care for a family member? Don’t overlook the tax implications. Depending on the arrangement, a family ca...
10/08/2026

Are you paid to care for a family member? Don’t overlook the tax implications. Depending on the arrangement, a family caregiver may be considered a household employee, which can create employment tax and Form W-2 obligations for the person receiving care. In other situations, the caregiver may not be an employee but still must report the payments as income. Self-employment tax may also apply if the caregiver operates a trade or business providing care services. But employment tax or self-employment tax exceptions may apply when caring for a spouse, parent, child or other relative. Contact us at (318) 725-2272 to discuss your family’s situation.

For businesses, gamification is a way to use game-like strategies to motivate both customers and employees. For example,...
10/07/2026

For businesses, gamification is a way to use game-like strategies to motivate both customers and employees. For example, rewards programs may help strengthen customer loyalty and encourage repeat purchases. Internally, employee recognition systems, sales leaderboards and training milestones may improve performance and promote skill development. When implemented thoughtfully, these efforts can reinforce desired behaviors and support long-term growth. Call us at (318) 725-2272 for help designing and evaluating your gamification initiatives.

When reviewing their income statements, business owners tend to focus on profits or losses. But focusing solely on the b...
10/06/2026

When reviewing their income statements, business owners tend to focus on profits or losses. But focusing solely on the bottom line can lead to mismanagement and missed opportunities. Instead, analyze this financial report with an auditor’s mindset. This requires professional skepticism, objectivity, attention to detail and the curiosity to ask questions. Compare individual line items in the current accounting period to past results and industry benchmarks. After identifying major changes and trends related to revenue and expenses, dig deeper to find the causes and make better decisions. Contact us at (318) 725-2272 for help interpreting the historical results and using them to improve future performance.

Last year the cap on state and local tax (SALT) deductions increased from $10,000 to $40,000. The 2026 cap is $40,400. I...
10/05/2026

Last year the cap on state and local tax (SALT) deductions increased from $10,000 to $40,000. The 2026 cap is $40,400. If your 2027 property taxes have already been assessed, prepaying them in 2026 could help you maximize your 2026 deduction. But keep in mind that the 2026 cap is reduced for taxpayers with modified adjusted gross income over $505,000. (All amounts are half as large for separate filers.) Let us help you determine how to incorporate the increased SALT deduction limit into your tax planning. Contact us at (318) 725-2272.

Looking for investments with valuable tax advantages? Stock in certain domestic C corporations can offer substantial tax...
10/01/2026

Looking for investments with valuable tax advantages? Stock in certain domestic C corporations can offer substantial tax savings when you sell, and the benefits have been enhanced. Investors in qualified small business (QSB) stock acquired after July 4, 2025, may be eligible for a 50% capital gains exclusion after holding the stock for three years and a 75% exclusion after four years. The previous 100% exclusion after five years is still available. The maximum exclusion also increased from $10 million to the greater of $15 million (inflation-adjusted after 2026) or 10 times the aggregate adjusted basis of stock sold during the tax year. The rules are complex, so contact us at (318) 725-2272 to learn more.

Running a successful business requires more than keeping up with the day-to-day. It also requires taking time to evaluat...
09/30/2026

Running a successful business requires more than keeping up with the day-to-day. It also requires taking time to evaluate your financial position, identify opportunities and plan for what’s ahead. Whether you need assistance with accounting, bookkeeping, tax planning or strategic business advice, we can help you gain clarity. Our team provides practical guidance tailored to your specific needs, so you can focus on running and growing your business. Contact us at (318) 725-2272 to learn more.

Address

920 Pierremont Road Ste 407
Shreveport, LA
71106

Opening Hours

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

Telephone

+13187252272

Website

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