R&A CPAs blog
Filing the Final Tax Return
As a survivor, executor, or administrator of an estate, you are obligated to file an income tax return reporting all the deceased’s income up to his or her date of…
Income Tax Credit for Residential Solar Devices
Arizona Department of Revenue (ADOR) is reminding homeowners who installed a solar energy device in their residential home during 2021 to submit Form 310, Credit for Solar Energy Devices with their individual…
Intro to the Accounts Payable Process
The term “accounts payable” encompasses almost all the non-payroll payments a business makes. It’s an integral part of your company’s financial statements. If you fail to track billing properly, the…
Cryptocurrency Basics
Cryptocurrency has been in the news a lot lately as it continues to gain traction as an alternative currency. Many are considering whether this is the time to invest in…
Should I Itemize My Deductions?
When filing your individual income tax returns, you are allowed to deduct certain expenses from your taxable income, thus reducing the amount of income tax you must pay. There are…
Small Business Owners May Qualify to Deduct Their Home Office Expenses
If you own a small business and “exclusively and regularly” use part of your home as your primary place of doing business, you may be able to deduct some of…
Can You Claim the Credit for Other Dependents?
If you’re taking care of adult children, relatives or parents, you know that this can create an additional financial strain. To ease it, the IRS offers a credit for dependents…
Credits vs. Deductions: What’s the Difference?
Tax deductions and tax credits can both help you, but that doesn’t mean they’re the same thing. Knowing how they work can help you understand your tax situation. Tax credits…
R&A CPAs Promotes Nathaniel K. Eggman to Shareholder
Tucson, AZ, January 26, 2022—R&A CPAs, one of Southern Arizona’s leading public accounting and business advisory firms, announced today that Nathaniel K. Eggman, CPA, PFS has been promoted to shareholder.…
Taxable and Nontaxable Employee Benefits
As the unemployment rate falls from its 2020 high, employees are switching jobs in record numbers. The new stability in the economy means workers have more leeway to shop around…
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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.