The IRS is offering penalty relief for 2025 as employers struggle to comply with new reporting requirements for tips and overtime pay under the OBBBA. While businesses won’t face penalties this year for failing to separately report qualified tips, overtime compensation, and occupation codes, this transition period is explicitly temporary, and smart employers will use it to prepare for full compliance in 2026.
From expanded deductions and new above-the-line benefits to shifting phaseouts and sunsetting exemptions, 2025 offers unique opportunities for individuals to lower their tax liability before year-end. This guide highlights smart, timely moves to help you make the most of current law before key changes take effect in 2026.
Explore essential 2025 year-end tax strategies for businesses, updated for the One Big Beautiful Bill Act (OBBBA). From QBI planning to bonus depreciation, entity structure, and reporting changes, this guide helps you make informed, compliant, and tax-smart decisions before year-end.
The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2026 has increased to $24,500, up from $23,500 for 2025.
Learn how basis and at-risk amounts work together to determine loss deductibility in partnerships and S corporations, and why tracking both is essential for compliance and tax planning.
This fall, our recruiting team had the pleasure of attending the Meet the Firms events at University of Arizona, Northern Arizona University, Arizona State University, and Grand Canyon University. We sincerely thank each university for inviting us and giving us the opportunity to meet so many talented and motivated accounting students.
Congratulations to Taylor Douglas Waslaski, CPA, on your promotion to tax manager. Taylor has six years of public accounting experience and provides tax planning and tax services to private business owners throughout Arizona.
Meeting 401(k) audit requirements is an essential part of plan administration and fiduciary responsibility. This guide outlines when an audit is needed, common compliance pitfalls, and strategies to stay organized throughout the process – so you can meet your obligations confidently and on time.
In an era of endless online “tax tips,” misinformation spreads fast – and even smart taxpayers can fall for it. Here’s how to identify misleading financial advice and stay grounded in trustworthy, compliant tax guidance.
Behind every well-run HOA is a framework of financial decisions that protect the community’s long-term value. From managing dues and reserves to ensuring transparent financial reporting, HOA boards carry significant responsibility. This guide breaks down the essentials every board member should understand to keep their association financially strong and accountable.
Did you receive a letter from the IRS? Learn what steps you should take and mistakes to avoid in responding to a notice.
Explore how global tariffs and trade changes can impact your business and learn strategies for successful adaptation. Discover practical tips on cost management in our latest article.