R&A CPAs blog
What Business Owners Should Know About Valuations
If you own a business, at some point you are likely to need a business valuation. A valuation can play a key role in helping you achieve your financial goals.…
April 2023 Newsletter
How will a Department of Labor rule proposal affect your business?
March 2023 Newsletter
R&A is pleased to share that, for the third consecutive year, we have won ClearlyRated’s Best of Accounting Award for providing superior service to our clients; one of just 44 accounting firms across the…
IRS Clarifies Federal Taxes and State Payments
The IRS has recently announced that “in the interest of sound tax administration and other factors,” taxpayers in many states will not need to report various payments on their 2022…
Does Your Business Have to File Schedules K-2 and K-3?
In alignment with IRS requirements, there are certain businesses that must file Schedule K-2 and Schedule K-3. Ultimately, any pass-through entities that have relevant international income, deductions, credits, or other…
After the Audit: An Overview of SAS 114 & SAS 115, Auditor’s Communication Letters
Independent financial statement audits are designed to provide assurance that the amounts reported in them are reasonably stated. An integral part of the audit process is an assessment of the…
Understanding Business Travel Deductions
If you travel for business, you want to claim valid deductions, but the rules can be confusing. Following are just a few tax details business travelers should know. Business travel deductions…
February 2023 Newsletter
An integral part of the audit process are letters to both governance and management communicating their findings.
Arizona Sales & Use Taxes—Short-Term Rentals for Winter Events
The Arizona Department of Revenue (DOR) reminds taxpayers that short-term residential rentals are considered lodging rental stays for less than 30 days. The income from short-term rental stays is subject…
New Law Ushers in Major Retirement Changes
There’s been buzz about new retirement plan provisions for weeks, and now they’re final, bringing about changes to various federal rules and adding flexibility for current and future retirees. The…
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Checking Your Federal Tax Withholding – Why, When, and How
If you are an employee, you know that various taxes are withheld from your paychecks. While you generally can’t change the amount of social security and Medicare taxes withheld, you can change the withholding amounts of federal and state income tax. In fact, the IRS encourages taxpayers to review their income tax withholding at least…
R&A Named a 2026 Top 500 US Accounting Firm
R&A is very pleased to share that we have been recognized as a Top 500 Firm in the US for 2026 by INSIDE Public Accounting based on US net revenue. INSIDE Public Accounting is a leader in practice management and CPA firm resources for the public accounting profession. Of this recognition, Phillip C. Dalrymple, CPA, CFE, and R&A Managing Partner said, “We are proud…
Trusts Can be Powerful Estate Planning Tools
You’ve probably had a check-up with your doctor or dentist in the last year as part of your routine practice of self-care. Preventive visits like this can detect and address potential health issues in their earliest and most treatable stages. We think of estate planning as preventive care for your life and loved ones. No…
Promises of Tax Settlements for “Pennies on the Dollar” are Often Too Good to be True
At R&A CPAs, we often find ourselves counselling individuals or businesses that are overwhelmed by large tax liabilities or mired in IRS bureaucracy. Like you, we see ads promising amazing “pennies on the dollar” settlement deals with the IRS touted by “professionals,” backed up by dramatic testimonials of success. These settlements refer to the IRS’s…
Meet Jorge Fuentes Quihui, Associate – Assurance
Meet Jorge Fuentes Quihui, Associate – Assurance
The IRS’ ‘Dirty Dozen’
The IRS’s annual “Dirty Dozen” list exposes the top 12 tax scams, fraud schemes, and aggressive avoidance tactics threatening taxpayers. Ranging from phishing scams and identity theft to abusive tax shelters and misleading social media advice, the list alerts both individuals and businesses to emerging threats, helping them safeguard their financial assets and maintain tax compliance.
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.