R&A CPAs blog
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…
Employee Retention Credit: Over but Not Done
The federal government’s Employee Retention Credit (ERC) proved to be a lifeline for many businesses and their employees affected by the COVID pandemic. The eligibility rules were complex and changed…
I Bonds: Protecting Your Portfolio from Inflation
With a rising inflationary environment—the highest in four decades—investors are seeking shelter in low-risk investments to protect their portfolios. As a result, there has been record demand for I Bonds,…
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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.
The True Cost of Poor Recordkeeping
Poor recordkeeping can create costs that include problems with tax compliance, reporting, and planning—among others. Click for details and avoid these errors.
Meet Christopher Bezerra-Clark — Associate, Client Accounting Services
Get to know the R&A team! This month, featuring Christopher Bezerra-Clark from our Client Accounting Services team.
Claiming a Mileage Deduction on Your Tax Return
If you use your vehicle for business, charity, or medical purposes, you may be able to take a tax deduction. Here is what you need to know.
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.