R&A CPAs blog
The Importance of Accurate Real Estate Valuation in Tax Reporting
Real estate valuations have garnered increased attention in tax reporting over the last several years, driven by fluctuations in property prices and heightened oversight around how those values are reported.…
Retirement Plan Catch-up Contributions
Super-Catch-up and Catch-up as Roth Requirements Beginning January 1, 2026, significant changes will be implemented regarding retirement plan catch-up contributions for certain individuals. Both individuals and retirement plan sponsors need…
Meet Chang Moo – Supervisor, Tax
Chang Moo is a Supervisor in our Tax department and has been a member of our team since 2017. Prior to joining R&A, he worked for Deloitte and RSM. His…
Will the Appraiser You Select Withstand IRS Scrutiny?
If your business is in need of an appraisal, it is vital that you select the right appraiser. This case, Estate of Scott M. Hoensheid v. Commissioner (T.C. Memo 2023-34),…
Business Succession Planning: Defining Your Tax Strategy
Owning a successful business is often more than just a financial asset; it’s a culmination of hard work and dedication. It’s about carrying forward a legacy. Succession planning is the…
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…
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…
August 2025 Newsletter
In this newsletter we cover employee gift matching programs as a philanthropic strategy, fraud prevention using the “fraud diamond” framework, upcoming expanded income tax disclosure requirements for private entities, and differences between public charities and private foundations. Also features a team spotlight on Lisset Anderson from Client Services.
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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…