R&A CPAs blog
April 2025 Newsletter
The April newsletter featuring expert CPA guidance on analyzing non-profit tax returns, strategies for optimizing real estate portfolio cash flow, the latest updates on BOI reporting requirements under the Corporate Transparency Act, essential business disaster planning strategies, and understanding the tax implications of Roth IRA conversions.
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2024 Arizona Tax Credits for Individuals
The 2024 Arizona Tax Credit programs for individuals allow you to make a positive charitable impact while receiving a credit that reduces your Arizona income tax liability dollar for dollar.…
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IRS Announces Mileage Change For 2025
At the end of December, the IRS announced standard mileage rates for 2025. Below are the deductions, if you are using an automobile for approved purposes: Self-employed and business: 70…
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Tax Benefits for Businesses That Accommodate People with Disabilities
Businesses that make structural adaptations or other accommodations for the elderly or for employees or customers with disabilities may be eligible to save money on their taxes through various tax…
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IRS Takes Steps to Help Prevent Refund Delays on Duplicate Dependent Returns
If someone else claims your dependent on their tax return and files before you do, your e-filed return will be rejected by IRS. Duplicate dependent returns can be the result…
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Update – Significant Expiring Provisions of the Tax Cuts and Jobs Act
In 2017, Congress passed the Tax Cuts and Jobs Act (TCJA) making significant changes to the existing tax code. Many of the provisions of the act were set to expire…
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Good Record Keeping Practices You Should Know
I don’t know about you, but paper represents a major problem for me at home and in the office. How long should I keep records of purchases like appliances, real…
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What Documents Do I Need to File My Individual Income Tax Returns?
Seems like I just barely put my holiday decorations away, and now it’s already time to start gathering documents for my 2024 income tax returns. Whether you are super-organized or…
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EV Tax Credits End in September 2025
Congress began creating tax incentives for purchasing energy efficient vehicles in 2005, and the Inflation Reduction Act passed in 2022 brought major expansion to the electric vehicle (EV) tax credit program. The Trump tax reform bill passed in July 2025 has ended the federal EV credit for any vehicles purchased after September 30, 2025. For…
QuickBooks Desktop Slated to Sunset as Intuit Shifts to the Cloud
Like many vendors across the software industry, including Microsoft and Adobe, Intuit is sunsetting its long-running desktop product line in favor of its cloud-based model. QuickBooks Desktop (QBDT), used by small businesses for decades, is being phased out as the company directs customers to QuickBooks Online (QBO). As of September 2024, Intuit stopped selling new…
Meet Nathan Bolt – Senior Manager, Client Accounting Services
Nathan is a seasoned Chief Financial Officer (CFO) drawing from over two decades of experience in accounting and finance. He holds a BS in Accounting, is a licensed CPA, and is a Chartered Global Management Accountant (CGMA). Nathan is also a member of the American Institute of CPAs (AICPA) and the Arizona Society of CPAs…
Why 2025 Is Turning Out to Be a Great Year
In January, we wondered what the year would bring. Well, now we know what the first half of the year has brought, and it is good news for high-net-worth business owners. On Wall Street, the saying is buy low, sell high. In the world of estate planning, the saying is more like sell high, transfer…
ACC Announces New Policies Aimed at Preventing Business Filing Fraud
Most state business filing agencies like the Arizona Corporation Commission (ACC) are ministerial entities only and have no regulatory or enforcement authority. In other words, these government entities can make sure any documents you file meet filing requirements, but that’s where their responsibility stops. For example, ACC does not have a requirement to confirm or…
Key Provisions of the New Tax Act
On July 4, 2025, Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law. At the center of the bill is the extension of many provisions of the 2017 Tax Cuts and Jobs Act (TCJA) slated to end at the end of 2025. The OBBBA makes many expiring provisions of TCJA permanent,…
OBBBA – Tax Treatment of R&D Expensing and Bonus Depreciation
The One Big Beautiful Bill Act (OBBBA) significantly impacts the tax treatment for businesses of research and development (R&D) expense and bonus depreciation. These new provisions offer substantial benefits and crucial planning opportunities for businesses looking to invest and innovate. Following is a breakdown of the key changes. R&D expensing: Immediate Deductions Restored Internal Revenue…