R&A CPAs blog
November 2023 Newsletter
Are you curious about the clean vehicle tax credit? Luckily for you, the IRS has plenty of answers to questions about clean vehicle credits,
What Is a SEP IRA?
A SEP IRA offers employers and their employees a tax-friendly way to save for retirement. As it currently stands, with a traditional IRA you can contribute $6,500. This is a…
How Your Home Affects Your Taxes: Energy Credits
Just a few years ago, the Tax Cuts and Jobs Act (TCJA) of 2017 greatly changed existing tax laws that affect homeowners. How your personal tax bill has been affected…
IRS Clean Vehicle Tax Credit FAQs
The Inflation Reduction Act of 2022 has altered the requirements for the clean vehicle tax credit, particularly for electric vehicles, including fuel cell vehicles. The credit is available for eligible…
October 2023 Newsletter
The IRS is providing relief to heirs of inherited IRAs who are subject to the 10-year rule, allowing them to skip required minimum distributions (RMDs) in 2023. Click for the…
Prepare for the TCJA Sunset — If You Can
The Tax Cuts and Jobs Act (TCJA) largely winds down at the end of 2025. Maybe. Many of its provisions are political, so much depends on who’s in the White…
September 2023 Newsletter
The IRS has announced it will extend a new provision stemming from SECURE Act 2.0 that requires employees with annual income exceeding $145,000 to divert their 401(k) catch-up contributions into…
How To Handle Intangible Assets – Part I: Business Sellers Beware
If you are a business owner and are either currently considering selling your business or may sell it later on, you will want to carefully consider intangible assets in your…
New Accounting for Credit Losses
If your entity has trade receivables, contract assets, loans, or held-to-maturity debt securities, among other types of financial assets, then the new current expected credit loss (“CECL”) model will affect…
New Tax Law Incentivizes Retirees to Make an IRA-Funded Gift That Pays Annual Income
Giving back just got easier-and more rewarding. If you’re looking for ways to lighten your income tax liability while supporting your favorite cause, retirees can now receive fixed income payments…
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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.