Penalties for Not Filing 2020 Estimated Taxes
Last year was a challenging year. However, 2020 taxes are still due on April 15, 2021. If you underestimated the amount of tax you owe, you may be subject to a penalty.
Category: 2020 taxes
Mandatory 2020 Income Tax E-Filing for Arizona Corporations and Partnerships
Legislation signed into law initiated a multi-year phase-in period for businesses required to file income tax returns electronically. The e-file option was introduced in 2020 for tax year 2019 and is now mandatory for corporations and partnerships for tax year 2020 returns.
Mergers and Acquisitions Tax Planning
The Tax Cuts and Jobs Act (TCJA), passed in late 2017, changed many facets of tax planning, including mergers and acquisitions (M&A). TCJA created a variety of opportunities for mergers and acquisitions and any business considering a future M&A should be aware of the changes.
2020 Business Tax Deductions
It has been a challenging year, but one thing that has not changed is taxes. Fortunately, Arizona businesses can take advantage of certain tax deductions.
2021 Key Adjustments | ACA | HSA | Inflation Adjustments
After a year of turmoil and surprises, what will 2021 bring? One certainty is that the federal government is changing a variety of numbers affecting the finances of businesses and individuals.
IRS Final Regulations on Meals and Entertainment
The 2017 TCJA changed rules for meals and entertainment. Recent IRS guidance may clear up some confusion and Arizona business owners should consult with their CPA to make sure they are not violating any rules or leaving money on the table.