R&A CPAs blog
May 2023 Newsletter
The option of portability when planning your estate could make a substantial difference come tax time, especially with today’s generous estate and gift tax exemption amounts.
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To Port or Not to Port: Is Filing for Portability Right for You?
Prior to 2010, the concept of portability as a tax strategy simply did not exist. Any amount of a lifetime exemption that went unused by an estate was purely lost.…
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What Builders Should Know About the 45L Energy Efficient Tax Credit
The Inflation Reduction Act that was signed into law in August last year includes an extension of the 45L Energy Efficient tax credit, a federal tax incentive for builders of…
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9 Money Milestones for Your 50s and Beyond
Every birthday is important in our book, but there are some key milestones to remember when planning for retirement. This age-by-age breakdown offers an overview of tax and financial planning…
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Did You Know? R&A Offers Talent Acquisition Services – Exclusively for Our Clients
Whether you want to hire a top-level executive or professional staff, R&A is able to handle all aspects of the hiring process for you. We offer a variety of talent…
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What Business Owners Should Know About Valuations
If you own a business, at some point you are likely to need a business valuation. A valuation can play a key role in helping you achieve your financial goals.…
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April 2023 Newsletter
How will a Department of Labor rule proposal affect your business?
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March 2023 Newsletter
R&A is pleased to share that, for the third consecutive year, we have won ClearlyRated’s Best of Accounting Award for providing superior service to our clients; one of just 44 accounting firms across the…
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IRS Clarifies Federal Taxes and State Payments
The IRS has recently announced that “in the interest of sound tax administration and other factors,” taxpayers in many states will not need to report various payments on their 2022…
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Does Your Business Have to File Schedules K-2 and K-3?
In alignment with IRS requirements, there are certain businesses that must file Schedule K-2 and Schedule K-3. Ultimately, any pass-through entities that have relevant international income, deductions, credits, or other…
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How to Read a Not-For-Profit Tax Return (Even if you are not a tax professional) Part II
In a way, IRS Form 990 consists of two separate tax returns. The first is the “numbers” section (discussed in part I of this article) where organizations report their income and expenses for the year. In the second, organizations report how they comply with the many federal rules and regulations that govern the existence of…
Meet Jessica Nutbrown: Client Accounting Services Supervisor
Jessica Nutbrown is a Supervisor in our Client Accounting Services department and has been a member of the R&A team for four years. In her role, she supports a variety of clients with their accounting needs, helping them stay organized, informed, and confident in their financial operations. Her strong work ethic and approachable style make…
Top 10 Cybersecurity Practices Every Business Needs to Stay Ahead of Threats
As businesses become increasingly reliant on digital technologies to run their operations, cyber-related attacks have taken a quantum leap in both number and sophistication, threatening to derail continuity and create long-term impact. According to Microsoft’s Digital Defense Report, 600 million cyberattacks occur around the globe every day. A single breach can devastate not only a…
Are Nonprofits Exempt from Arizona Sales Tax?
One of the appeals of establishing a nonprofit organization is that these organizations are generally exempt from paying one or more types of tax. But just because an entity is exempt from one type of tax does not mean it is exempt from all taxes. In my work with Arizona nonprofit organizations, one common question…
Why More Businesses are Turning to Fractional CFO Services
For many small and mid-sized businesses (SMEs), hiring a full-time Chief Financial Officer (CFO) can often exceed operational needs or current budget realities, despite the clear value seasoned financial leaders bring to the table. Because of this, many businesses are turning to fractional CFO services as an alternative to capture the executive-level expertise without the…
Succession Planning is Vital – What You Need to Know
In 1977, Steve Jobs and Steve Wozniak incorporated Apple Computer, a company that would revolutionize technology and consumer electronics and have a profound impact on the music, film, and wireless industries. Apple went public in 1980, and by 1983, it was one of America’s top companies. In 2003, Jobs was diagnosed with a rare form…
How to Read a Not-For-Profit Tax Return (Even if you are not a tax professional) Part I
According to the Internal Revenue Service, there are approximately 1.5 million public charities and private foundations in the US. That’s a lot of good work being done! Public charities depend on donations from the general public to carry out their missions. With 1.5 million organizations to choose from, how do you decide which you want…