R&A CPAs blog
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…
The After-Effects of the CARES Act: Preparing for a Single Audit
While most of the financial relief benefits driven by the pandemic have expired, there are some after-effects to consider as we head into 2023. If your business received financial assistance…
January 2023 Newsletter
Federal Acquisition Regulations (FAR) is the primary regulation used by federal agencies for acquisition of supplies and services.
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…
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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.
What to Consider When Selling Your Business to Employees
Selling your business to employees through an ESOP, cooperative, or management buyout preserves your company’s legacy and rewards your team, but it requires careful planning. Success hinges on choosing the right ownership structure, securing realistic financing (often involving seller notes), obtaining an independent valuation, and preparing strong leaders to handle daily operations after the transition.
The State of Construction Bonding in 2026: What Contractors Need to Know About Financial Reporting
Navigating the 2026 bonding landscape requires contractors to treat financial reporting as a strategic tool rather than a routine compliance exercise. With surety carriers tightening underwriting standards following elevated project complexities, labor costs, and recent severe claims, securing maximum bonding capacity hinges on transparency and financial discipline.
Caught In Prescott – Lessons in Fraud Prevention and Monitoring
Fraud in Prescott – lessons in fraud prevention and monitoring for your business.
IRS Makes Rare Midyear Change to Mileage Rates
A break for many who have been hit by high gas prices: The IRS has quietly announced a revision to the optional standard mileage rates for computing the allowable deductible costs of operating an automobile. Click through to see what has changed—and what hasn’t.
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.