R&A CPAs blog
What To Know About Overtime Rules
Overtime rules under the Fair Labor Standards Act (FLSA) can be confusing, but business owners need to know the provisions. Following are some provisions to be aware of. There’s no…
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Tax Tips for Parents
When starting a family, you might be interested to know that you’re now eligible to claim new credits and deductions, which ultimately lessens the total value of your tax liability.…
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Corporate Transparency Act: What Small Businesses Need to Know About New Reporting Requirements
Effective January 1, 2024, millions of privately-owned small businesses became subject to new reporting obligations under the Corporate Transparency Act (CTA), an anti-crime law that seeks to uncover the concealment…
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Employer Payroll Taxes
There comes a time for most businesses when there is a need for labor beyond what the owner(s) can provide. Hiring employees comes with the responsibility for withholding income and…
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July 2024 Newsletter
Disasters often occur with no warning and can be devastating to any business. Being prepared with emergency preparedness plans is vital.
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How To Handle Intangible Assets – Part II: Business Buyers Beware
If you are currently in the market to acquire a business or may consider such a move later, you will want to carefully consider intangible assets in your business valuation.…
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Do You Have More Than 100 Employees in Your Employee Benefit Plan?
If you have more than 100 employees participating in your employee benefit plan (EBP), you may be required to undergo an EBP audit. For plan years beginning on or after…
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The Importance of Beneficiary Designations
“Carol Page” got a call from the bank-an IRA from her deceased father was found and paperwork needed to be signed. But before the money was made available, a snag…
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Small Business Tax Breaks: Are You Leaving Money on the Table?
When running a small business, it’s easy to get caught up in the day-to-day demands of overseeing operations, managing cash flow, and ensuring customer satisfaction. With so many pressing priorities,…
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June 2024 Newsletter
Taking time to learn about available tax benefits can lead to significant savings and reinvestment opportunities for your business.
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How to Read a Not-For-Profit Tax Return (Even if you are not a tax professional) Part II
In a way, IRS Form 990 consists of two separate tax returns. The first is the “numbers” section (discussed in part I of this article) where organizations report their income and expenses for the year. In the second, organizations report how they comply with the many federal rules and regulations that govern the existence of…
Meet Jessica Nutbrown: Client Accounting Services Supervisor
Jessica Nutbrown is a Supervisor in our Client Accounting Services department and has been a member of the R&A team for four years. In her role, she supports a variety of clients with their accounting needs, helping them stay organized, informed, and confident in their financial operations. Her strong work ethic and approachable style make…
Top 10 Cybersecurity Practices Every Business Needs to Stay Ahead of Threats
As businesses become increasingly reliant on digital technologies to run their operations, cyber-related attacks have taken a quantum leap in both number and sophistication, threatening to derail continuity and create long-term impact. According to Microsoft’s Digital Defense Report, 600 million cyberattacks occur around the globe every day. A single breach can devastate not only a…
Are Nonprofits Exempt from Arizona Sales Tax?
One of the appeals of establishing a nonprofit organization is that these organizations are generally exempt from paying one or more types of tax. But just because an entity is exempt from one type of tax does not mean it is exempt from all taxes. In my work with Arizona nonprofit organizations, one common question…
Why More Businesses are Turning to Fractional CFO Services
For many small and mid-sized businesses (SMEs), hiring a full-time Chief Financial Officer (CFO) can often exceed operational needs or current budget realities, despite the clear value seasoned financial leaders bring to the table. Because of this, many businesses are turning to fractional CFO services as an alternative to capture the executive-level expertise without the…
Succession Planning is Vital – What You Need to Know
In 1977, Steve Jobs and Steve Wozniak incorporated Apple Computer, a company that would revolutionize technology and consumer electronics and have a profound impact on the music, film, and wireless industries. Apple went public in 1980, and by 1983, it was one of America’s top companies. In 2003, Jobs was diagnosed with a rare form…
How to Read a Not-For-Profit Tax Return (Even if you are not a tax professional) Part I
According to the Internal Revenue Service, there are approximately 1.5 million public charities and private foundations in the US. That’s a lot of good work being done! Public charities depend on donations from the general public to carry out their missions. With 1.5 million organizations to choose from, how do you decide which you want…