R&A CPAs blog
December 2022 Newsletter
The IRS makes inflation adjustments for each year, which affect a wide range of provisions. And this year, there are some new additions as well.
Check Tampering Fraud in Small Businesses/Organizations
How one trusted employee defrauded a charity and how she got away with it for so long. If your small business or organization maintains a paper checkbook, whether you typically…
Key Social Security Changes for New Year
According to the Social Security Administration, approximately 70 million Americans will see an 8.7 percent increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2023. On…
IRS announces a delay in implementing reporting threshold of third-party payment platforms
The IRS has announced a delay to the implementation of $600 reporting threshold for third-party payment platforms’ Form 1099-K. 2022 will now be a transition year for these platforms including…
Does Your Employee Benefit Plan Require an Audit? Here is what to expect
The audit of an employee benefit plan (EBP) requires expertise and a high level of understanding and scrutiny of the plan documents. Not all CPAs have the knowledge and experience…
401(k) and IRA Limits Rise for 2023
The IRS has announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. This also applies to 403(b), most…
November 2022 Newsletter
As it usually does at this time of year, the IRS has announced increases in the amounts individuals can put away in 401(k) and IRAs. Click through to see how…
7 Behavioral Red Flags for Internal Fraud
Fraud can be uncovered in many different ways: a tip, management review, internal or external audit, document examination, account reconciliation, or even by accident. In 53 percent of cases, however,…
Billing Fraud Schemes Lessons Learned
Many small business owners hire friends and family or have employees who have been with them for years. They may also have vendors they have become close with and do…
Employers: Beware of Third Parties Promoting Improper Employee Retention Credit Claims
The Internal Revenue Service is warning employers to be wary of third parties who are advising them to claim the Employee Retention Credit (ERC) when they may not qualify. Some…
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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.