IRS Makes Rare Midyear Mileage Rate Adjustment

The IRS has announced an increase in the optional standard mileage rate for the final six months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes. For the final half of 2022, the standard mileage rate for business travel…

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Innovative Startup Paramium Technologies Wins University of Arizona Center for Innovation Sponsored Launch Fueled by R&A CPAs Competition

The University of Arizona Center for Innovation (UACI) is pleased to announce the winning startup of the UACI Sponsored Launch Fueled by R&A CPAs competition. Paramium Technologies will receive one sponsored year of admission at UACI which includes venture development programming and space. R&A CPAs will also provide the winning company hours of accounting services.…

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Updated Guidance – PPP loan forgiveness and review process

On Memorial Day weekend, the US Treasury and the Small Business Administration (SBA) released two new Interim Final Rules regarding the Paycheck Protection Program (PPP). Key updates and clarifications for PPP loan forgiveness include: Borrowers may seek forgiveness for payroll costs for the eight weeks beginning on either: The date of disbursement of the borrower’s…

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How To Conduct A Year-end Risk Assessment

Auditors assess their clients’ risk factors when planning for next year’s financial statement audit. Likewise, proactive managers assess risks at year end. A so-called “SWOT” analysis can help frame that assessment. Typically presented as a matrix, this analysis of strengths, weaknesses, opportunities and threats provides a logical framework for understanding how a business runs. It…

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