R&A CPAs blog
IRS to Revise Nonprofit Tax Returns
New proposed changes to Form 990, which is filed by not-for-profit organizations, will focus on making an organization’s use of funds more transparent. Click for more details.
What OBBBA Tax Changes Take Effect in 2026?
January 1 ushered in a new set of provisions resulting from the One Big Beautiful Act that will influence what 2026 looks like. You will want to pay attention now, before the year gets too far along.
Understanding the Federal R&D Tax Credit
At its core, the federal R&D tax credit, enacted in 1981 to stimulate innovation and business investment, provides dollar-for-dollar savings tied to qualified research activities. It is now complemented by…
Scam Alert: How To Spot Phishing, Smishing and Spoofing
Phishing remains a major threat. In the second half of 2024, email-based phishing attacks surged by 202 percent. Alarmingly, most of these attacks used link-based tactics, and 80 percent of…
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…
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…
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…
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,…
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What You Need to Know About Paying Household Employees
When you hire someone to do work in your home, they may be considered a household employee, and you might have some tax withholding responsibility when you pay them. You may have heard of this tax referred to as the “nanny tax.” These taxes are actually employment taxes and include social security, Medicare, and sometimes…
Update on Trump Accounts – Automatic Enrollment
Do you have a child under the age of 18? They most likely have a Trump Account now, whether or not you signed them up for one. The US Department of Treasury recently began automatically enrolling eligible children in the program rather than waiting for parents or guardians to apply. Even though your child may…
Employee or Independent Contractor?
Suppose your business hires an outside person to complete a task. What is your tax withholding responsibility when you pay this person? The answer depends on the business relationship between you and the person doing work for you. Types of workers There are two kinds of workers: employees and independent contractors. (We know this is…
Payroll Security Best Practices for Small Businesses
Payroll systems handle large volumes of sensitive personal data, making them vulnerable to breaches. To safeguard this data, organizations need integrated security measures that minimize the risks of errors, fraud, and operational disruptions. AI can support these efforts by identifying processing issues and suspicious activity, but it is not a standalone solution. Effective payroll security…
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…