R&A CPAs blog
September 2022 Newsletter
Intra-family loans may be beneficial to you and your family. Click through for the details. | It’s one of the most sweeping and most controversial bills passed in recent years.…
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Intra-Family Loans: Transferring Wealth to Finance Future Generations
Over the past couple of years, the economy has been pulled in all directions. The effects have been seen through record-high home prices, higher interest rates, and inflation. While federal…
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Cybersecurity & Remote Work: 6 Steps to Protect Your Business
In 2020, the FBI reported 1.4 million cybercrime complaints, mostly identity theft, up from 651,000 in 2019. The Federal Trade Commission received 4.8 million cybercrime complaints in 2020, up from…
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August 2022 Newsletter
Portability is often an effective, go-to estate planning strategy that could make a considerable difference for taxes owed on larger estates, especially with today’s generous exemption amounts.
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Depositing and Reporting Employment Taxes
As an employer, you are required to uphold the responsibility of payroll taxes. As such, you must also ensure that you understand what the rules are, especially due to how…
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I’ll Get Back to You
When I started my career as a CPA, I was surprised to discover how fluid the tax law is. I had always thought that tax laws were black and white…
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Employer Responsibilities Regarding 401(k) Plans
Offering a variety of competitive benefit plans (EBPs) has become a necessity for employers to attract and retain talent. Because of the cost and complexities of traditional pension plans, the…
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IRS Offers More Time to Make Portability Election
Portability is often an effective, go-to estate planning strategy that could make a considerable difference for taxes owed on larger estates, especially with today’s generous exemption amounts. In a recent…
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July 2022 Newsletter
Current Bear Market Creates Opportunities for Roth Conversions, IRS Makes Rare Midyear Mileage Rate Adjustment, All About Quarterly Tax Returns, 529 Plans: Good for Parents and Grandparents
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529 Plans: Good for Parents and Grandparents
For families trying to save for their children’s college education, 529 college savings plans, named for a section of the tax code, have always been hailed as a great option—perhaps…
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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…