New Arizona Travel ID
The deadline for obtaining a voluntary Arizona Travel ID is May 3, 2023. The Arizona Motor Vehicle Department (DVD) urges everyone to act soon to obtain the new Arizona Travel ID.
Category: News
Latest News on Vaccine Mandates
COVID-19 and its variants continue to disrupt the way we live, work, and play. The population disagrees on whether to wear masks or be vaccinated. One of the most pressing issues is whether businesses can — or should — issue a vaccine mandate for their employees.
Arizona CPA Firm Great Upward Mobility
At WP+D, employees and clients both benefit from working with an Arizona CPA firm versus a regional or national one. At larger firms, one may never meet or interact with a partner until they are a manager. This is not the case at WP+D, where the culture is centered around approachability and accessibility.
Employee Retention Credit
The Internal Revenue Service (IRS) urges employers to take advantage of the newly-extended Employee Retention Credit (ERC), designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees on the payroll. The ERC is one of the more popular relief items for businesses and recent legislation has made it even more attractive.
Overview of the New PPP2
The new round of Paycheck Protection Program (PPP2) loans is available to both new and second-time borrowers. Who gets the money and what are the rules?
Interpreting Financial Reports
Your financial statements can tell you what is happening in your business today and expectations for the future. Knowing how to interpret financial reports gives you insight into your business.
Arizona and Federal Taxes Due July 15, 2020
In March 2020, due to COVID-19, the IRS automatically extended the filing deadline for tax returns from April 15 to July 15, 2020. The extension applied to all individual returns, trusts, and corporations. The Arizona tax filing deadline was also extended to July 15, 2020.
Home Office Tax Deduction Rules
With many people working from home, you may think you can take a home office tax deduction. The Internal Revenue Code is complex and sets certain conditions on claiming a tax deduction. What deduction is allowable and under which circumstance?
COVID-19 Understanding Sales Tax Thresholds
COVID-19 caused many brick-and-mortar entities to strengthen or create their online presence, forcing them to address sales tax complexities they did not have to contend with when sales were local.
COVID-19 Impact on Social Security
According to retirement professionals and researchers, the pandemic will affect Social Security benefits for those born in 1960, due to the complicated formula the Social Security Administration uses to calculate benefits.
COVID-19 Work From Home State Tax Agreements
COVID-19 may have created tax complications for companies with employees working from home in another state. To prevent tax surprises for you and your employees, understanding how to classify wages will avoid penalties and amending tax filings.
Tax Planning and Good Financial Health
Good tax planning is a year-round activity requiring collaboration with your accountant to evaluate current circumstances and discuss any changes that may impact minimizing taxes. Circumstances change. Even if you used the standard deduction in the past, it may no longer be the right option for you.