Blog

Tucson, AZ, August 7, 2019 — R&A CPAs announced today that it has been named a Top 400 Firm for 2019 by INSIDE Public Accounting (IPA). It is the second consecutive year R&A has achieved this distinction. This annual ranking gathers surveys and analytical data from firms across the United States. R&A helps clients achieve their financial…

R&A CPAs announced today that John Green, CPA, MS, has joined the firm as Assurance Manager. John brings a wealth of experience including financial reporting and strategic planning for small- and medium-sized businesses and multi-national publicly traded companies in multiple sectors including insurance, specialty finance, hedge funds, private equity, healthcare, and employee benefit plans including…

With scam artists hard at work all year, taxpayers should be on the lookout for a surge of evolving phishing emails and telephone scams. Taxpayers should watch for new versions of two tax-related scams. One involves Social Security numbers related to tax issues. The other threatens taxpayers with a tax bill from a fictional government…

Following are some key tax-related deadlines for the third quarter 2019. Please contact us with questions or to learn more. July 31, 2019 – All employers If you maintain a calendar-year employee benefit plan, it is time to file your Form 5500 or Form 5500-EZ for calendar year 2018. If you are not sure whether…

WASHINGTON — Millions of taxpayers filed a 2018 tax return in the last few weeks, making now a prime time for everyone to consider whether their tax situation came out as they expected. If it didn’t, they can use their recently finished 2018 return and the IRS Withholding Calculator to do a Paycheck Checkup and…

Although Mexico’s budget for 2019, which entered into effect as of January 1, 2019 does not include any new taxes, there are some changes that should be kept in mind during this fiscal year such as: Elimination of universal offset One of the most significant changes included in the 2019 tax reform is the elimination…

One of the most talked about changes under the Tax Cuts and Jobs Act is the new 20% deduction afforded to qualifying businesses. This deduction applies to income from pass-through entities and may provide a substantial tax benefit to individuals that qualify for the deduction. What exactly is the pass-through business income deduction? The deduction…

Global Intangible Low Tax Income Global Low Tax Intangible Income (GILTI) is a new tax regime under the Tax Cuts and Jobs Act (TCJA). Under this regime, United States Shareholders of Controlled Foreign Corporations (CFC) will potentially have an income inclusion based on the net earnings and profits of the CFC, less a few exceptions,…

1) Owners of pass-through entities may get a significant deduction from the new 199A deduction, but it is a complex and time-consuming calculation. This new provision gives eligible businesses up to a 20 percent tax deduction on certain qualified business income. However, the new 199A deduction requires additional reporting for every pass-through entity. Because the deduction…