R&A CPAs blog
Corporate Transparency Act: What Small Businesses Need to Know About New Reporting Requirements
Effective January 1, 2024, millions of privately-owned small businesses became subject to new reporting obligations under the Corporate Transparency Act (CTA), an anti-crime law that seeks to uncover the concealment…
Employer Payroll Taxes
There comes a time for most businesses when there is a need for labor beyond what the owner(s) can provide. Hiring employees comes with the responsibility for withholding income and…
July 2024 Newsletter
Disasters often occur with no warning and can be devastating to any business. Being prepared with emergency preparedness plans is vital.
How To Handle Intangible Assets – Part II: Business Buyers Beware
If you are currently in the market to acquire a business or may consider such a move later, you will want to carefully consider intangible assets in your business valuation.…
Do You Have More Than 100 Employees in Your Employee Benefit Plan?
If you have more than 100 employees participating in your employee benefit plan (EBP), you may be required to undergo an EBP audit. For plan years beginning on or after…
The Importance of Beneficiary Designations
“Carol Page” got a call from the bank-an IRA from her deceased father was found and paperwork needed to be signed. But before the money was made available, a snag…
Small Business Tax Breaks: Are You Leaving Money on the Table?
When running a small business, it’s easy to get caught up in the day-to-day demands of overseeing operations, managing cash flow, and ensuring customer satisfaction. With so many pressing priorities,…
June 2024 Newsletter
Taking time to learn about available tax benefits can lead to significant savings and reinvestment opportunities for your business.
Ransomware is Targeting Small Businesses
During the pandemic, data breaches disproportionately affected smaller companies; they were targeted at twice the rate of larger businesses. Since the pandemic, those same smaller companies have been struggling with…
The Tax Implications of Independent Contractors
Are your employees really employees, or are they actually independent contractors? It’s not just semantics; the IRS makes a stark distinction. You don’t generally have to withhold or pay any…
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IRS Announces New Automatic Exemption from Penalty Program
The IRS’s Automatic Exemption from Penalty (AEP) program simplifies tax relief by automatically waiving failure-to-file, failure-to-pay, and failure-to-deposit penalties for compliant taxpayers. Replacing the manual First Time Abate process, the automated system evaluates eligibility during return processing—waiving penalties for individuals and businesses with three years of clean compliance history—without requiring formal requests or phone calls.
Estate Planning is Changing: What Families Should Revisit Now
Shifting tax exemption thresholds, evolving retirement account rules, and changing family dynamics make static estate plans a risk. Families should revisit their plans now to update beneficiary designations, review trusts, refresh health care and financial powers of attorney, and adjust wealth transfer strategies to ensure their assets remain protected and align with their current intentions.
What to Consider When Selling Your Business to Employees
Selling your business to employees through an ESOP, cooperative, or management buyout preserves your company’s legacy and rewards your team, but it requires careful planning. Success hinges on choosing the right ownership structure, securing realistic financing (often involving seller notes), obtaining an independent valuation, and preparing strong leaders to handle daily operations after the transition.
The State of Construction Bonding in 2026: What Contractors Need to Know About Financial Reporting
Navigating the 2026 bonding landscape requires contractors to treat financial reporting as a strategic tool rather than a routine compliance exercise. With surety carriers tightening underwriting standards following elevated project complexities, labor costs, and recent severe claims, securing maximum bonding capacity hinges on transparency and financial discipline.
Caught In Prescott – Lessons in Fraud Prevention and Monitoring
Fraud in Prescott – lessons in fraud prevention and monitoring for your business.
IRS Makes Rare Midyear Change to Mileage Rates
A break for many who have been hit by high gas prices: The IRS has quietly announced a revision to the optional standard mileage rates for computing the allowable deductible costs of operating an automobile. Click through to see what has changed—and what hasn’t.
The Purpose of Form I-9: What Employers Need to Know
Every employer needs to complete Form I-9 for their employees. It is an important compliance document. Here is what you need to know.
Meet Junna Stockwell, CPA, Supervisor – Assurance
Junna is a supervisor in our Assurance department. In her role, she solves financial problems and helps provide accurate financial reporting for our clients.