R&A CPAs blog
Employee vs. Freelancer: Tax and Financial Implications for Business Owners
Deciding to onboard a freelancer, also known as an independent contractor, requires understanding the tax and financial implications. Following are some considerations as you determine what works best for your…
Business Tax Account Gives Business Taxpayers New Options for Making Payments Easier
The IRS’s Business Tax Account (BTA) is an online self-service tool designed to help business taxpayers manage their tax responsibilities efficiently. BTA, launched last fall, is an important part of…
IRS Issues New FAQs on Educational Assistance Programs
With the new academic year approaching, the IRS recently issued timely guidance on employer-sponsored educational assistance programs under Section 127. The “frequently asked questions” (FAQs) fact sheet provides information on…
New Guidance for Organizations Receiving Federal Assistance Effective October 1, 2024
If your organization receives federal assistance, the Office of Management and Budget (OMB) has released updated regulations you need to be aware of. The 2024 updates to the Uniform Guidance,…
What You Need to Know: Are Political Contributions Tax Deductible?
The short answer is no. Donations made to political organizations or political candidates are not tax-deductible. The IRS makes clear that expenditures for lobbying and political expenditures incurred with “influencing legislations,…
Inheriting Property: Navigating the Maze of Inheritance Tax
Whether it’s a cherished family home, vacation house, or a portfolio of investment properties, inheriting property often precipitates unexpected financial responsibilities. Understanding the nuances of estate and inheritance tax well…
Final Regulations Issued: Reporting Sales and Exchanges of Digital Assets
The US Department of the Treasury and the IRS have issued final regulations requiring custodial brokers to report sales and exchanges of digital assets, including cryptocurrency. These digital asset transactions…
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What to Know About Social Security Now and in Retirement
Social Security provides nearly 97% of older adults with a foundation of retirement protection in their later years. For many, it serves as a major source of income, supplementing 40% of their pre-retirement earnings or providing disability or survivor benefits for eligible individuals. For others, it’s a spoke in a broader retirement strategy, one of…
Preparing for an Audit
The word ‘audit’ can invoke images of piles of paperwork, discovery of horrible mistakes, and endless email chains in our mind’s eye. For auditees, exhaustion can creep in before the audit even begins. Prior experience with external audit can provide some relief in terms of familiarity, but for a first-time auditee, the process can be…
Tax Planning Strategies for Multi-State Real Estate Investors
In today’s market, investing in real estate across state lines has become an increasingly accessible and effective way to build a diversified portfolio and tap into areas that show strong demand and potential for appreciation. Real estate investors now own about 20 percent of the 86 million single-family homes and townhomes across the country. Of…
How Do You Know When Your Business Is Ready for a CFO?
One of the biggest challenges in running a successful company is managing growth. Not having the right skill set in place is like having the bat boy fill in as catcher. Your team can have a phenomenal pitcher, but each ball that gets past the catcher increases the likelihood of a loss. Many growing companies…
Tax Harvesting Strategies: How to Make Gains and Losses Work in Your Favor
Learn tax-gain and tax-loss harvesting strategies for 2025. Maximize investments, reduce tax liability, and plan year-end tax positions with proven tactics.
Arizona Tax Credits for Individuals – 2025
Discover Arizona tax credits for 2025: charitable donations, foster care, school tuition, and military family relief. Learn limits and filing deadlines for maximum savings.
Can I Claim a Tax Deduction for that Donation?
Clarify which donations are tax-deductible. Understand 501(c)(3), churches, schools, and other exempt organizations. Know what qualifies for your tax deduction.
Taxpayer Right to Representation in IRS Matters
Understand your right to IRS representation. Learn how CPAs and authorized representatives help with audits, negotiations, and IRS compliance to protect your interests.