Selph and Friday CPAs

Selph and Friday CPAs Solving your tax problems since 1986. Selph and Friday CPA is a full-service Accounting firm licensed in TX. All our CPA's hold valid TX CPA certificates.

We're here to help you resolve your tax problems and put an end to the misery that the IRS can put you through. We pride ourselves on being very efficient, affordable, and of course, extremely discreet. Our friendly, knowledgeable tax professionals are experts at what they do and are here to help you resolve all of your tax problems. We understand how the IRS works and what it takes to successfully mediate a solution on your behalf whether it's filing a past due return, minimizing back tax debt and any penalties or fines, or submitting an offer in compromise. If you owe the IRS money and are wondering what your options are, contact us today.

We’re more than just tax and accounting professionals. We’re your partners in business growth. Beyond preparing your tax...
10/05/2026

We’re more than just tax and accounting professionals. We’re your partners in business growth. Beyond preparing your tax returns and keeping your books in order, we can help you improve cash flow, safely plan for expansion and make smarter financial decisions. Let’s talk about how our advisory services can strengthen your strategic planning, streamline operations, and uncover new opportunities for long-term growth and success. Call us today at (903) 792-0281 to schedule a consultation.

Does your business hold intangible assets? Intangibles are nonphysical, long-term resources that can add significant val...
10/01/2026

Does your business hold intangible assets? Intangibles are nonphysical, long-term resources that can add significant value to a business. Examples include copyrights, licenses and customer lists. The tax implications can be complex. IRS regulations require the capitalization of costs to 1) acquire or create intangibles; 2) create or enhance a separate, distinct intangible; 3) create or enhance a future benefit identified in IRS guidance as capitalizable; or 4) facilitate the acquisition or creation of intangibles. Capitalized costs can’t be fully deducted in the year paid or incurred. They generally must be ratably deducted over the asset’s life. Questions? We’re here to help. Call us at (903) 792-0281.

There are several benefits to having an estate plan. It can protect your wealth while giving you peace of mind that your...
09/30/2026

There are several benefits to having an estate plan. It can protect your wealth while giving you peace of mind that your assets will be distributed according to your intentions. In addition, it can save taxes, minimize legal complications and family disputes, and reduce expenses for your heirs. Do you have young children? An estate plan is a must so you can name guardians for them in the event of your untimely death. If you’re ready to begin your estate planning journey, or if you’d like us to review your current plan, contact us at (903) 792-0281.

If you work remotely and split your time between two states during the year, it can create state tax issues. A state wit...
09/29/2026

If you work remotely and split your time between two states during the year, it can create state tax issues. A state with an income tax generally can tax all income of its residents and income earned within its borders by nonresidents. Residency rules vary but may consider your domicile, days spent in the state and whether you maintain a home is there. Your domicile is generally your true, fixed, permanent home — the place you intend to return to. Some states may treat you as a resident for income tax purposes if you maintain a home and spend a specified number of days there. Contact us at (903) 792-0281 to review your situation and help determine whether you may have tax obligations in more than one state.

IRS penalties can add up quickly. Fortunately, some taxpayers may qualify for penalty relief. There are three main types...
09/28/2026

IRS penalties can add up quickly. Fortunately, some taxpayers may qualify for penalty relief. There are three main types of relief: 1) first-time penalty abatement for taxpayers with a strong compliance history, 2) reasonable cause relief for situations such as serious illness or natural disasters, and 3) statutory exceptions. These exceptions generally apply to penalties resulting from erroneous written IRS advice or to taxpayers affected by certain federally declared disasters or involved in military combat-zone operations. If the IRS has assessed a penalty on your account, contact us at (903) 792-0281. We can help determine whether you qualify for penalty relief.

Payroll administration can be challenging for small business owners — and errors can be costly. Common trouble spots inc...
09/24/2026

Payroll administration can be challenging for small business owners — and errors can be costly. Common trouble spots include incorrect withholding, late tax deposits, and failure to include taxable bonuses, awards or fringe benefits in employees’ wages. Mistakes can happen even with payroll software or an outside payroll provider. Reducing your risk requires two things: formal review procedures to identify problems quickly and prompt action to correct them. We can help you comply with your payroll tax obligations. Contact us at (903) 792-0281 if you discover a payroll error or have questions about the applicable rules.

09/23/2026

PERSONAL ATTENTION TO YOUR NEEDS.

If you are going to hire and pay for a CPA, you ought to be able to sit down with them and ask the questions you want answers to. Sounds simple enough but when we get new clients we often we hear that they could never get their questions answered or see a CPA to discuss the issues they have concerns about.

If you will sit down with us and go through your tax documents, we can avoid the email and phone calls trying to get your tax returns prepared. We will prepare your returns and file them while you are here if you have the needed documents. If you have a refund, we will electronically file your return and get your refund sent to your bank account. You won't wait 6 weeks or longer to find out what your refund amount is or whether you owe the IRS money.

I can't figure out how you can advise someone on their tax situation if you don't meet with them to review their documents and answer any questions they may have. This should be way more involved than just filling out some forms.

We also encourage our clients to keep in touch with us throughout the year if things change or new issues arise.

Robby

Running a successful business requires more than keeping up with the day-to-day. It also requires taking time to evaluat...
09/23/2026

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 (903) 792-0281 to learn more.

Many individuals invest in real estate to help diversify their portfolio, create an income stream for themselves from re...
09/22/2026

Many individuals invest in real estate to help diversify their portfolio, create an income stream for themselves from rental income and build net worth over time. Income and losses from investment real estate are considered passive by definition — unless you’re a real estate professional. Even then, you generally must “materially participate” in a rental activity for it to be treated as nonpassive. Why is this important? Passive income may be subject to the 3.8% net investment income tax on top of any income tax otherwise due, and passive losses are deductible only against passive income, with the excess carried forward. Call us at (903) 792-0281 to discuss tax planning for your investment real estate.

If you’re thinking about financing a new vehicle, you may be able to deduct up to $10,000 per year of interest paid. The...
09/21/2026

If you’re thinking about financing a new vehicle, you may be able to deduct up to $10,000 per year of interest paid. The deduction is available for certain personal auto loans originated after Dec. 31, 2024 — even if you don’t itemize deductions. Modified adjusted gross income (MAGI) limits apply, and only qualifying vehicles assembled in the U.S. are eligible. Before purchasing, consider whether eligibility for the deduction should factor into your vehicle choice. We can help run the numbers. Call us at (903) 792-0281.

Address

1909 Mall Drive
Texarkana, TX
75503

Opening Hours

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

Telephone

(903) 792-0281

Website

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