Heroux & company, llp

Certified Public Accountants

"Every client counts!" ~ John Heroux, CPA, Founder

Heroux & company, llp

Certified Public Accountants

Awarded Green Plus sustainable business certification in 2010

Heroux & company, llp

Certified Public Accountants

Founding sponsor of the Lighthouse Foundation of Wake County

Heroux & company, llp

Certified Public Accountants

Our Services

Offering various traditional CPA services, Heroux & Company, LLP works with individuals, small businesses, and nonprofit organizations. The majority of our work involves tax preparation, planning and strategies. Our experience and understanding, including that of tax law and the ever-changing regulatory requirements, helps us guide clients, whether in managing profitability and growth, capital, or tax reduction and tax compliance requirements. We care about the needs of both the individual and business owner, with the goal to lead both in achieving full growth potential. We are committed to offering exceptional client services that include:
✔ Corporate, partnership, individual, estate and trust tax preparation and planning
✔ Payroll and financial statement preparation, including compilation, review, and audit
✔ Accounting system consultation, analysis and advisory services, including QuickBooks™
✔ Strategic and sustainable individual and corporate planning and profitability analysis
✔ Other advisory and management support and assurance

We Are

A Raleigh-based firm in North Carolina that provides honest and accurate tax advice, up-to- date objective advisory information and real-time availability. Managing partner and founder John Heroux, established Heroux & Company, LLP in 1998, and expanded it to an employee-owned company in 2007. Guided by a wellness and philanthropic philosophy, John leads the company's performance driven culture, while fostering teamwork, community involvement, and long-term client relationships. Professional affiliations include the North Carolina Association of Certified Public Accountants (NCACPA) and American Institute of Certified Public Accountants (AICPA).

Our Mission

To remain a leading local tax authority through professionalism, experience and ability to focus on the individual and business needs of a client 365 days of the year! Fostering positive client and employee relations drives our success in making every client count. Our relevancy goes beyond a tax return, encompassing the well-being of our employees, clients and the community in which we serve.


❝ Beyond accuracy and on-time delivery, the difference H&Co makes in my business comes down to confidence. I count on them to an extent that I rarely extend on a business level. ❞ ~ Richard Auxer, Managing Director, Micro-Epsilon America
❝ I get feedback when I ask for it. H&Co’s annual consultations and direct discussions help keep the vision in focus. Their consistent pestering about ways I can decrease my tax burden has saved me a lot of $$$. ❞ ~ Richard Harris, Managing Director, Synergy Commercial Advisors
❝ We demand the same high level of professionalism and fiduciary duty from our financial team that we attempt to provide our own clients. H&Co also helps streamline our internal record keeping process which enables us to focus and expand our business. ❞ ~ Travis Kelly, President & CEO, The Providence Group Sports & Entertainment, LLC
❝ H&Co was my frontline spokesperson during a three year federal tax audit of my business. As a single operator small business owner, I could not have focused on running the affairs during that period without their support. ❞ ~ Kimberley Korb, Founder, The Compass Rose Healing Arts
❝ Un-complicates the confusing universe of tax law with pointed answers to rambling questions. We are secure in knowing John has our interests at heart, while keeping us well within legal boundaries. ❞ ~ Mike, Small Business Owner


John Heroux, CPA
North Carolina Certificate #22306
John moved from the Midwest to Raleigh, NC with his young family, starting his early career in private accounting at the Golden Corral Corporate Office in 1987. He joined a small public CPA firm in 1992 that helped teach him the fundamentals of public accounting and business, shaping the foundation of a partnership and the building of his own firm, Hutzenbuhler & Heroux in 1998.
John's attention to making every client count has been the main focus throughout his successful growth. In 2006, John became managing partner of the firm, changing the name to Heroux & Company, LLP and changing the business dynamics by allowing employees to have small ownership in continuing the sustainability of the business. He also believes in making positive internal changes that reflect a healthy work environment, incorporating paid employee work-out time and personal weekly training each (even through tax season!) and additional health insurance benefits.
John's family (wife Regina, daughter Jena, and son Jacob) are his driving force. He enjoys beach excursions with his family whenever he has free time. He also loves golf, basketball and football and is especially proud of being a Green Bay Packer fan! He is an active member of St. Catherine's of Siena Church. If you ask John what he aspires to do as he grows older, he openly admits that he NEVER wants to retire and that he fully appreciates the blessings he has been given. He might also admit that the one opportunity he still waits patiently for is a better golf handicap!
Thomas Turner, CPA
Senior Staff Member
North Carolina Certificate #25938
Tom joined the firm in October 2004 with more than 12 years experience in individual, corporate, and partnership tax accounting. A native of Greenville, NC, he graduated from East Carolina University with a Bachelor's and a Master's Degree in Accounting.
Tom's wealth of experience lends him the satisfaction of working with an array of complicated tax situations, including tax planning; financial auditing and accounting for business and nonprofit entities; multi-state sales and payroll taxes.
Tom currently serves as Treasurer of the Wake County GOP and is on the finance board and children’s center committee at Highland United Methodist Church. He enjoys his Men's Monday Night Bible Group, playing competitive tennis and spending time in his woodworking shop and yard in Cary. He and his wife Jennifer have one child, Luke.
Traci Rhyne Crabtree
Senior Staff Member
North Carolina Certificate #22306
Kevin Cresimore
Staff Accountant
North Carolina Certificate #22306
Terry Foster
Office Manager
North Carolina Certificate #22306
Kelsey Elggren
Staff Accountant
North Carolina Certificate #22306


What documents and information are needed to prepare my taxes?

Individuals + Prior year returns, tax information forms (i.e. W-2s, 1099s, 1098, K-1s, brokerage tax summaries with basis information, etc) summary of deductions (business deductions, charitable contributions, real estate and personal property taxes, job expenses, medical expenses, etc). A tax organizer, usually mailed to you in January, is also useful in our preparation. If you have not received an organizer, please contact our office.

Businesses + A majority of businesses use QuickBooks (or other software) to organize and report on the operation's financial activity. If you use this type of software, we strongly encourage you to reconcile all banks, credit card and other financial accounts and review financial reports prior to sending backup files. If you do not use packaged accounting software, we ask you to summarize your activity as carefully as possible, whether on a spreadsheet or a simple list, and provide us with monthly bank statements. We may be able to provide you with a format of listing revenues and expenses if your operations are relatively simple. We will also need to maintain a "permanent file" for your business that may include documents such as: the operating agreement, bylaws, approval of S-status, loan documents and amortization schedules, IRS correspondence, asset listings with depreciation accumulated.

What are your drop-off deadlines? How long will it take to finish?

Of course, we ask you to send us your information as soon as possible once you have organized and reviewed a complete set of information. Our work flow provides a faster turn-around time the earlier information is received. For corporations, tax documents must "generally" be submitted to us no later than February 28th to ensure your taxes will be finalized by the March 15th deadline. For individuals and partnerships (Form 1065), tax documents must "generally" be submitted to us no later than the third week of March to ensure your taxes will be finalized by the April 15th deadline. Please check the tax organizer we send each year for exact deadline established for each tax season. We can usually have your returns finished in two to three weeks.

What can I deduct?

In regards to businesses, the tax code in section 162 provides "ordinary and necessary expenses" are allowed as deductions. But the tax code is thousands and thousands of pages long, so please contact us for application of specific situations. The best approach for you is to be as organized and accurate as possible in accumulating financial information and to contact us if there are any questions or concerns as to a deduction prior to the expenditure.

How can I benefit from current changes in the tax law?

Tax law is an ever changing practice. Each year brings new benefits and expiration of prior benefits. We make every effort to stay on top of current changes through continuing education and tax update and research subscriptions while driven by our passion to provide the best service possible to our clients. Therefore, whether at tax time, or if you see or read something in the news, we are here to assist you with any concerns or opportunities that may effect your financial situation.

IRS Latest News
Can you file my tax return electronically? How do I get my refund or pay tax due if I file electronically?

We are required to file individual income tax returns electronically. There is no extra charge for electronic filing. The benefit is that we receive confirmation your return has been accepted by the IRS, so electronic filing is as good as certified mail without the hassle of a trip to the post office. All we need from you is a signature on an IRS form authorizing electronic filing. Anyone is eligible to file electronically as long as the tax return is not being filed after its extended due date. If you are expecting a refund, it will be received much sooner than traditional paper filing of your tax returns. An electronically filed return can usually have the refund received in 10-14 days versus six to eight weeks for a refund from a paper filed return. If you would like to have your refund deposited electronically, we will need your checking or savings routing and account numbers. Refunds can be split between accounts in certain circumstances. If you have a balance due, the IRS will allow you to have the tax drafted from a banking account electronically. If you ask us to process your payment electronically, we will need your bank account and routing number. We suggest the payment is scheduled for the due date of the return, unless you direct us otherwise. However, you do not have to submit a payment electronically if you owe tax. You are still able to submit payment with a voucher we provide you, Form 1040-V. Many state returns, including North Carolina, can be filed electronically. We do not offer and do not advise the use of refund anticipation loans.

Can I pay my taxes electronically?

You are now able to make electronic payments to the IRS using “Direct Pay” on their website and to the North Carolina Department of Revenue using “E-Services” on their website. Electronic payments can be made for remaining balances whether timely or well past due, current quarterly estimated taxes or under an installment plan.

North Carolina Department of RevenueIRS Direct Pay
How can I check the status of my refund?

Both the IRS and the North Carolina Department of Revenue have links on the home page of their websites to check the status of your refund, as well as most other states. You will need to enter your social security number, number of exemptions and amount of expected refund. You should wait at least three weeks from the time the electronic return data has been accepted by the agency before checking the status of a refund. Please be aware that if the taxing agency believes you owe taxes from any prior periods, they will not issue a refund.

IRS Refund LinkNCDOR Refund Link
What are the due dates for individual, business, payroll and other tax returns?

Individual Returns + April 15th
{ if extended, October 15th }

Partnership Returns + March 15th
{ if extended, September 15th }

Corporations and S-Corporations + March 15th
{ if extended, September 15th }

County Business Property listings + January 31st
{ if extended online in Wake County, May 31st, otherwise, April 15th }

Payroll reports +

Form 941, NC-5Q and NCUI-101 +
April 30th, July 31st, October 31st, January 31st

Form 940 and Form 944 + due January 31st

Form NC-5 + due either monthly or quarterly

Forms W-2 + submitted to employees by January 31st

Form W-3 + submit to the Social Security Administration by February 28th

* Please be aware of your filing requirements for payroll whether monthly, quarterly or semi-weekly.

Forms 1099 and 1096 + sent to individuals by January 31st
Filed with the IRS using Form 1096 by February 28th

What are the consequences of paying or filing late?

There are various negative consequences to filing and paying taxes late. They include (1) late filing penalty (2) late payment penalty and (3) interest on past due amounts. Quite often, overlooked or neglected filings incur all three of these assessments. We make every attempt to avoid penalties and interest. If you find yourself in a situation in which you can not pay tax you have incurred, please discuss with us in advance and we can advise you on the best ways to avoid as much penalty and interest as possible.

You may choose to enter into an installment agreement with the IRS. The IRS charges a one-time fee of $105 for this service, but it is reduced to $52 if you sign up to have the IRS process your payments electronically. Interest and late payment penalties will continue to accrue. The IRS will generally negotiate to a fair monthly payment such that past taxes are paid in full in a fair amount of time.

Some of the more common interest and penalties include +

Interest rates charged by the IRS fluctuate quarter by quarter.
The rate for the 4th quarter, 2015 is 3%.

○ Individuals ○○ S-Corps ○○ Partnerships ○○ Payroll ○○ Sales Tax ○
○ Individuals ○

The late filing penalty is usually 5% of the amount due for each month or part of month the tax return is filed after the due date or extended due date of the tax return. The maximum amount of this penalty is 25%.The late payment penalty is ½ of 1% of the amount due for each month or part of month the unpaid tax is paid after the original due date of the tax return. The maximum amount of this penalty is 25%.North Carolina assesses late filing penalties of 5% of unpaid tax per month, maximum of 25%; a late payment penalty of 10%; and interest at their stated rate, which is currently around 3%.

NC Department of Revenue Penalty and Interest informationNC Interest Rates
○ S-Corps ○

Beginning in 2010, late filing is $195 for each month or part of a month for each shareholder (up to 12 months.)The North Carolina Department of Revenue charges penalties also, but they are generally based on tax owed.

○ Partnerships ○

Partnerships + Beginning in 2010, late filing is $195 for each month or part of a month for each partner (up to 12 months.)The North Carolina Department of Revenue charges penalties also, but they are generally based on tax owed.

○ Payroll ○

IRS Deposit penalties for 941 and 944 payroll taxes are based on the amount of the tax deposit. For a deposit 1-5 days late, 2%; 6-15 days 5%; 16 or more days, 10%; more than 10 days after a notice date, 15%; deposited not using EFTPS when required 10%.

IRS Payroll Penalties

IRS late filing penalties for Forms 941 and 944 include a late filing penalty of 5% of the amount due for each month or part of month the unpaid tax is paid after the original due date of the tax return. The maximum amount of the late filing penalty is 25%. Also, for each whole or part month that the tax is paid late, there is a failure-to-pay penalty of 0.5% per month of the amount of tax, with a maximum of 25%.

NC withholding + There is a 10% penalty for late payment of the tax due. There is also a penalty of 5% per month (max 25%) for failure to file the report when due.

NC Withholding Penalties

NC Unemployment + The Division of Employment Security charges a late filing penalty of 5% of the amount of tax due per month, or portion thereof, to a maximum of 25%. A late payment penalty is 10% of the amount of tax due. Interest is currently charged at an annual rate of around 5%.

DES Penalties and Interest
○ Sales Tax ○

Sales tax in North Carolina + If tax is due, both a failure to file penalty of 5% per month or fraction thereof with a maximum of 25% (minimum $5.00 State and $5.00 county) and a failure to pay penalty of 10% (minimum $5.00 State and $5.00 county) will be due. Interest is due on the amount of tax due from the date the tax was due until it is paid.

What do I do if I receive a Tax Notice?

If you are a client of ours, please fax or email a copy of the notice to our office as soon as possible. If we prepared your return, quite often the notice can be easily resolved with no adverse effects. We may ask you to sign a Form 2848, Power of Attorney, such that we may discuss the situation directly with the IRS on your behalf. If we did not prepare your return, we will be glad to assist you in resolving the problem as quickly and favorably as possible. We will need you to sign a Form 2848, Power of Attorney, and provide us with copies of the tax return as filed with supporting documentation. If you are being audited, we can also represent you before the IRS.

How long do I need to keep my records?

For tax purposes, we generally recommend you keep your records for seven years. For records involving purchases of assets or investments, we recommend keeping those as long as you hold the asset or investment, and then, seven years afterwards. The reason seven years is suggested is because the IRS may be able to go back six years once a return is filed.

Email info@hcocpa.net
I am doing my own payroll and need to furnish forms to my employees. How do I determine withholding?

Frequently used employee forms +

Form W-4Form NC-4Form I-9
Do you accept credit cards?

Yes, we except Visa, MasterCard, American Express and Discover.

How do I request a copy of my prior tax returns?

Have your loan officer email us.

Email info@hcocpa.net

Include specific contents of the letter needed and she will generate on your behalf in a timely manner. We cannot send information to a third party, such as a bank or mortgage broker, without written consent from the client.

contact us

Heroux & Company, LLP
4700 Falls of Neuse Road
Suite 110
Raleigh, NC 27609
Tel + 919 788 9570
Fax + 919 788 9571

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