IRS Offers A Host Of Car Credits


Thinking of buying a new car in 2023? The IRS is on your side with some great credits, but you have to follow the strict conditions. Read below to see if you’re eligible. Credits for New Clean Vehicles Purchased in 2023 or Later If you buy a new plug-in electric vehicle (EV) or fuel cell…

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After the Audit: An Overview of SAS 114 & SAS 115, Auditor’s Communication Letters


Independent financial statement audits are designed to provide assurance that the amounts reported in them are reasonably stated. An integral part of the audit process is an assessment of the effectiveness of an organization’s system of internal control.  As a result, the independent auditor gains valuable insight on how the organization works – from top…

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Estate Planning Reminders


Regardless of your age, estate planning should be a priority for most individuals. Knowing how your assets will ultimately be distributed offers you peace of mind and helps you to leave an accurate and clear legacy, avoiding confusion over challenging issues that your family and heirs will need to sort out if no such plan…

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Understanding Business Travel Deductions

February 17, 2023

If you travel for business, you want to claim valid deductions, but the rules can be confusing. Following are just a few tax details business travelers should know. Business travel deductions are available when employees must travel away from their tax home or main place of business–and there are definitions to know for both. A taxpayer is…

February 2023 Newsletter

February 10, 2023

An integral part of the audit process are letters to both governance and management communicating their findings.

IRS Establishes Mileage Rates for 2023

January 20, 2023

The IRS has issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. In a statement issued on Dec. 29, the IRS said that beginning on January 1, 2023, the standard mileage rates for the use of a car (also vans,…

Arizona Sales & Use Taxes—Short-Term Rentals for Winter Events

January 20, 2023

The Arizona Department of Revenue (DOR) reminds taxpayers that short-term residential rentals are considered lodging rental stays for less than 30 days. The income from short-term rental stays is subject to Arizona transaction privilege tax (TPT). If, for example, an Arizona property owner is only renting their residence for the Gem Show, they will need a…

New Law Ushers in Major Retirement Changes

January 20, 2023

There’s been buzz about new retirement plan provisions for weeks, and now they’re final, bringing about changes to various federal rules and adding flexibility for current and future retirees. The Secure 2.0 Act of 2022, part of the Consolidated Appropriations Act of 2023, includes the following modifications, some of which are immediate, and others that…

The After-Effects of the CARES Act: Preparing for a Single Audit

January 20, 2023

While most of the financial relief benefits driven by the pandemic have expired, there are some after-effects to consider as we head into 2023. If your business received financial assistance from a federal agency through the CARES Act, you may be subject to single audit requirements. The CARES Act provided federal funding to many organizations…

January 2023 Newsletter

January 18, 2023

Federal Acquisition Regulations (FAR) is the primary regulation used by federal agencies for acquisition of supplies and services.

December 2022 Newsletter

January 5, 2023

The IRS makes inflation adjustments for each year, which affect a wide range of provisions. And this year, there are some new additions as well.

Check Tampering Fraud in Small Businesses/Organizations

January 4, 2023

How one trusted employee defrauded a charity and how she got away with it for so long. If your small business or organization maintains a paper checkbook, whether you typically use it or not, you could be at risk of check tampering fraud. Even if you believe your business or organization does not make any…