R&A CPAs blog
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…
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…
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…
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…
Solar Tax Credits: What Residential and Rental Property Owners Need to Know
Solar tax incentives have been in place for years, but recent expansions have sparked a surge in solar installations across the country. Both residential and rental property owners are now…
How Trusted Employees Commit Fraud
Many small businesses are family-owned and operated with employees that have been with the company for years. Manager oversight can become lax. Staff and co-workers are like “family,” or they…
Estate Planning – What to Know
Thinking about one’s own mortality is no one’s favorite way to pass the time. Yet if you own any stuff or love anyone, it is something you will eventually have…
Access Retirement Funds in a Disaster
The SECURE 2.0 Act that went into effect in March 2022, makes it easier for qualified individuals impacted by a federally declared major disaster to access their retirement savings. This…
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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 similar tax credits in many states and, together, federal and state credits can amount to as much as 20 percent of the costs incurred in…
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 the malicious links were categorized as zero‑day threats, meaning they exploited computer vulnerabilities before patches could be applied. During peak periods, users encountered an average…
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 of qualifying assets acquired and placed in service after Jan. 19, 2025. Until recently, bonus depreciation was scheduled to phase out entirely under previous law.…
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 IRAs are designed to help children enter adulthood with greater financial security. A Trump account is subject to certain special rules on contributions, investments, distributions,…
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 are authorized by Section 529 of the Internal Revenue Code (surprise!). Speaking of surprises, 2025 research shows that 52 percent of Americans don’t know what…