R&A CPAs blog
August 2022 Newsletter
Portability is often an effective, go-to estate planning strategy that could make a considerable difference for taxes owed on larger estates, especially with today’s generous exemption amounts.
Depositing and Reporting Employment Taxes
As an employer, you are required to uphold the responsibility of payroll taxes. As such, you must also ensure that you understand what the rules are, especially due to how…
I’ll Get Back to You
When I started my career as a CPA, I was surprised to discover how fluid the tax law is. I had always thought that tax laws were black and white…
Employer Responsibilities Regarding 401(k) Plans
Offering a variety of competitive benefit plans (EBPs) has become a necessity for employers to attract and retain talent. Because of the cost and complexities of traditional pension plans, the…
IRS Offers More Time to Make Portability Election
Portability is often an effective, go-to estate planning strategy that could make a considerable difference for taxes owed on larger estates, especially with today’s generous exemption amounts. In a recent…
July 2022 Newsletter
Current Bear Market Creates Opportunities for Roth Conversions, IRS Makes Rare Midyear Mileage Rate Adjustment, All About Quarterly Tax Returns, 529 Plans: Good for Parents and Grandparents
529 Plans: Good for Parents and Grandparents
For families trying to save for their children’s college education, 529 college savings plans, named for a section of the tax code, have always been hailed as a great option—perhaps…
IRS Makes Rare Midyear Mileage Rate Adjustment
The IRS has announced an increase in the optional standard mileage rate for the final six months of 2022. Taxpayers may use the optional standard mileage rates to calculate the…
June 2022 Newsletter
There are new reporting rules for 2022 for nonprofits that receive contributions of nonfinancial assets.
What Is FATCA?
Under the Foreign Account Tax Compliance Act (FACTA), US taxpayers holding financial assets outside the US must report those assets to the IRS using Form 8938, Statement of Specified Foreign…
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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.
Why Some Taxpayers May Need to File Amended 2025 Arizona Tax Returns
States can create their own tax laws—and that adds complexity for taxpayers who must file both federal and state tax returns. Click for more information and some specifics for Arizona.
Does my Business Need Cyber Liability Insurance?
Because the financial consequences of a cyberattack can be devastating, business owners must consider what they can do to manage risk and mitigate damage. Cyber liability insurance is an option we recommend.
IRS to Revise Nonprofit Tax Returns
New proposed changes to Form 990, which is filed by not-for-profit organizations, will focus on making an organization’s use of funds more transparent. Click for more details.
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.
Understanding the Federal R&D Tax Credit
At its core, the federal R&D tax credit, enacted in 1981 to stimulate innovation and business investment, provides dollar-for-dollar savings tied to qualified research activities. It is now complemented by similar tax credits in many states and, together, federal and state credits can amount to as much as 20 percent of the costs incurred in…