R&A CPAs blog
Medical and Dental Expenses: What Can You Deduct?
Can you deduct medical and dental expenses? That’s a complicated question. To start with, your deductions must exceed 7.5 percent of your adjusted gross income. And they must fall into…
IRS Clarifies Deductible Expenses
The IRS has updated some rules for deductible expenses, as guidance in areas that may have been murky as a result of the Tax Cuts and Jobs Act (TCJA). The rules being…
It’s Never Too Early for Tax Planning
Benjamin Franklin once said “to fail to plan is to plan to fail.” This adage certainly applies to tax planning. Although the Tax Cuts and Jobs Act of 2017 (TCJA)…
Arizona’s New Limited Liability Company Act
Arizona has long had laws defining and regulating limited liability companies (LLCs) organized within the state. The first law was codified in the Arizona Revised Statutes in 1992, and it…
Why Do You Need a Business Valuation?
Why would you consider keeping your business valuation current? You might be able to think of one or two reasons, but there are plenty: What if something calamitous were to…
What Is GILTI And How Does It Work?
Global Intangible Low Tax Income Global Low Tax Intangible Income (GILTI) is a new tax regime under the Tax Cuts and Jobs Act (TCJA). Under this regime, United States Shareholders…
FDII: Tax Reform’s Overlooked Benefit of U.S. Exporters
In an effort to boost the production of U.S. goods, the 2017 Tax Act introduced a Foreign Derived Intangible Income (FDII) deduction for tax years 2018 and beyond. But despite…
Business Valuations: What Are They and Why Are They Important?
A business valuation is a formal statement of the full value of a business. It can take into account aspects such as: The company’s potential for revenue generation now and…
Don’t let collaborative arrangements cause financial reporting headaches
Businesses often enter into so-called “collaborative arrangements” when they partner with another entity on a major project. Unfortunately, the current guidance for these types of arrangements under U.S. Generally Accepted…
How The IRS Does and Does Not Contact Taxpayers
In order to help taxpayers avoid scams in which criminals impersonate IRS employees, IRS has issued a Fact Sheet in which it sets out the ways that it does and…
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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.
The True Cost of Poor Recordkeeping
Poor recordkeeping can create costs that include problems with tax compliance, reporting, and planning—among others. Click for details and avoid these errors.
Meet Christopher Bezerra-Clark — Associate, Client Accounting Services
Get to know the R&A team! This month, featuring Christopher Bezerra-Clark from our Client Accounting Services team.
Claiming a Mileage Deduction on Your Tax Return
If you use your vehicle for business, charity, or medical purposes, you may be able to take a tax deduction. Here is what you need to know.
Installment Sales – Ins, Outs, Ups, & Downs
The installment method is a tax-reporting strategy that allows you to spread out the recognition of capital gains over multiple tax years when you finance an asset sale yourself. There is a lot to know—click for the details.
How Manufacturers Can Turn Innovation into Tax Benefits
Recent tax law changes have expanded the definition of qualifying research and development activities and created new opportunities for manufacturers to recover capital. Click for important details.