R&A CPAs blog
Access Retirement Funds in a Disaster
The SECURE 2.0 Act that went into effect in March 2022, makes it easier for qualified individuals impacted by a federally declared major disaster to access their retirement savings. This…
Arizona Minimum Wage to Rise for 2025
Effective January 1, 2025, Arizona’s minimum wage will be increased by 35 cents from $14.35 to $14.70 per hour. Arizona law requires the minimum wage to increase yearly based on…
What Business Owners Need to Know About Business Travel Deductions
When it comes to deducting business travel expenses, business owners and employers face a maze of rules that can be both complicated and prone to change. However, understanding these regulations…
News Alert: Beneficial Ownership Information Reporting – Business Clients
This is to alert you to recent developments regarding Beneficial Ownership Information reporting, commonly referred to as BOI or BOIR. BOI filing is a requirement to everyone that owns an…
Residential Rental Property Owners – Transaction Privilege Tax Update
Effective January 1, 2025, residential rental property owners should no longer collect and remit any city transaction privilege tax (sales tax) on residential rentals. Not all Arizona cities assess this…
Time to Renew Transaction Privilege Tax License
You have likely received notices from Arizona Department of Revenue and the City of Tucson that it is time to renew your TPT license. License renewals apply and are valid…
The Tax Benefits of Giving
With fall décor already lining the shelves, it feels like the season of giving is right around the corner. As you consider your gifts and donations this year, keep in…
The IRS Announces Inflation Changes for 2025
The following is not a comprehensive list of all changes, but a summary of key adjustments that will affect a wide range of taxpayers: Standard deductions. For single taxpayers and…
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Categories
Installment Sales – Ins, Outs, Ups, & Downs
The installment method is a tax-reporting strategy that allows you to spread out the recognition of capital gains over multiple tax years when you finance an asset sale yourself. There is a lot to know—click for the details.
How Manufacturers Can Turn Innovation into Tax Benefits
Recent tax law changes have expanded the definition of qualifying research and development activities and created new opportunities for manufacturers to recover capital. Click for important details.
Substantiating Charitable Contributions
To close loopholes, Congress added Section 170(f)(8)(A) to the Internal Revenue Code to create strict substantiation rules for charitable contribution deductions. Click through for the specifics, so you don’t get caught without proper substantiation for your charitable donations.
Payroll Systems and Compliance Challenges
Can payroll systems keep up with shifting regulations and constant compliance changes? Yes —with a little effort. Click through for an answer to this question and others regarding wage laws and tax requirements.
What OBBBA Tax Changes Take Effect in 2026?
January 1 ushered in a new set of provisions resulting from the One Big Beautiful Act that will influence what 2026 looks like. You will want to pay attention now, before the year gets too far along.
Do You Need to Make Estimated Tax Payments?
The US tax system requires taxpayers to pay tax on income as it is received during the year—paying estimated taxes through the year helps you avoid some potentially significant IRS penalties and interest. Click for what you need to know.
Top HOA Fraud Risks and Why Financial Statement Audits Matter
Fraud can occur in any Homeowners Association (HOA). Understanding where fraud tends to show up and what financial statement audits can reveal can help boards strengthen oversight and better protect community funds.
How to Structure Real Estate Investments for Maximum Tax Efficiency
The structure behind real estate investment is key—the difference between a well-structured investment and a poorly structured one can be significant. Click for the details.