Insights
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), underscores that point. The charitable contribution deduction claimed by Scott and Anne Hoensheid for a contribution of business stock was disallowed primarily due to the…
Read MoreOwning 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 art of ensuring this legacy continues beyond the founding generation, yet many businesses struggle to prepare adequately for this stage. In fact, a recent PwC…
Read MoreCongress 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…
Read MoreEV 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…