R&A CPAs blog
Nonresident Individuals and Tax Returns
Form 1040-NR is a version of the IRS income tax return for nonresident individuals to file if they earned income from US sources throughout the year. As with regular Form…
Did You Know? R&A Offers Business Valuation Services
You want to know the value of your business. R&A can help you with that. Many business owners are faced at some point with the question “What is my company…
Are You Spending Too Much on Bookkeeping?
Wondering what your options are to reduce spending and increase income? Here are some tips: Organize your documents and communications. Receipts scattered? Can’t keep up with payments that are due? Missed payments…
Tax Treatment for Kids Working in the Family Business
What kind of business is a mom-and-pop operation? It’s probably not a question you pondered when you dreamed of going into business. Suppose you employ your child. How is this…
Did You Know? R&A Offers Outsourced Accounting, Payroll, and Advisory Services
You want to grow your business. R&A can help you do that. Many small- to mid-size businesses are outsourcing non-core functions, including accounting and payroll. Those services can include: general ledger management,…
Closing an Arizona Limited Liability Company
Closing your Arizona Limited Liability Company (LLC) can be a challenging and difficult task. You may be facing legal matters such as settling debt or protecting personal property and there…
Is Your Small Business At Risk For Internal Fraud?
Internal fraud, also called occupational fraud, is defined as “the use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the organization’s resources or assets.” Simply stated, this…
Foreign Earned Income: The Tax Situation
If you live overseas, you will likely find yourself in a special tax situation and may need to file Form 2555, Foreign Earned Income. You may be eligible for an…
Pros and Cons of Tax Extensions
In general, individual and trust income tax returns are due on April 15th of each year, while partnerships and corporations must file by March 15th. If your accountant thinks there is…
Filing Taxes for the Deceased
Death doesn’t cancel a final responsibility: paying income taxes. A decedent’s executor must file one last income tax return for the deceased if the deceased’s income surpassed a certain threshold.…
Search
Have A Question?
Talk to our tax experts today
520-881-4900
Categories
IRS Interim Guidance Provides Clarity on Bonus Depreciation Rules
The One Big Beautiful Bill Act (OBBBA) brought welcome news for businesses with the permanent return of 100 percent bonus depreciation. Businesses are now eligible to deduct the full cost of qualifying assets acquired and placed in service after Jan. 19, 2025. Until recently, bonus depreciation was scheduled to phase out entirely under previous law.…
Trump Accounts – The Basics
The One Big Beautiful Bill Act passed in July 2025 established the 530A account, a new type of tax-advantaged IRA designed specifically for children. Better known as Trump accounts, these IRAs are designed to help children enter adulthood with greater financial security. A Trump account is subject to certain special rules on contributions, investments, distributions,…
529 Tuition Programs – What You Need to Know
Qualified tuition programs, also called 529 plans, are tax-advantaged plans designed to encourage saving for future education costs. These plans are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code (surprise!). Speaking of surprises, 2025 research shows that 52 percent of Americans don’t know what…
Handling a Family Business
Fairness isn’t always about equal shares – it’s often about what makes sense based on each person’s needs and circumstances. Sometimes one child needs more financial support or hands-on help. Other times, it’s about who’s better equipped to take the reins. At the end of the day, the goal is to land on a solution that allows…
Is Your Business Healthy?
Many leaders see sales and assume all is well, but hidden issues can linger under the surface. Discover the four essential financial tests. From liquidity to profitability, that determine the true health of your company.
The ABCs of RMDs and QCDs
The federal government encourages individuals to save for retirement by providing tax incentives for those who make contributions to personal retirement accounts. The goal is to help people achieve financial independence in retirement and lessen the burden on public assistance programs for older Americans. The government offers these tax incentives as a trade-off, foregoing tax…
Five Reasons to File Your Taxes Early
It has begun! The Internal Revenue Service announced Monday, January 26, 2026, as the opening of the 2026 filing season. Taxpayers have until Wednesday, April 15, 2026, to file their 2025 tax returns and pay any tax due. (Filing a six-month extension will give taxpayers until October 15, 2026, to file their tax returns but…
Could Your Child Owe Taxes? Here’s What To Know
We generally assume that children aren’t required to pay taxes. But if your child has unearned income-such as interest and dividends from investments-the IRS may require them to file a return. There are two main situations to consider. Their unearned income exceeds $2,700 for 2025 Your child will fall under what’s known as the kiddie…