The IRS published a draft of a revised Form W-4, Employee’s Withholding Allowance Certificate. The agency emphasizes this is a preliminary version, and until further notice, everyone should use the current version. However, human resources departments and payroll managers should become familiar with it now since the final version will be similar.
As of May 6, 2019, the Arizona Legislature continues working towards a State budget with ongoing discussions regarding various budget proposals. Recent comments from the Legislature addressed the question of Arizona’s conformity with federal tax law. While conformity is still to be determined, it seems Arizona will conform.
The marriage penalty refers to two people that may pay more in taxes as a married couple than they would filing two single returns. Does this penalty really exist? See how the Tax Cuts and Jobs Act (TCJA) may affect couples and taxes.
When investing, do you care about anything beyond generating returns? Many Arizona investors would like their money to grow and help the world at the same time. Socially responsible investing (SRI) is dedicated to environmental sustainability, alternative energy, and clean technology. How can you help the world with your investing?
No owner of a business would argue the truth behind the saying, “Cash is king.” Cash is the underlying driver of any business regardless of industry. Ironically, many owners and managers fail to incorporate that essential fact into their management philosophy.
The Arizona Department of Revenue (ADOR) reminds individuals that April 15, 2019 is the tax deadline for filing their individual return. ADOR recommends electronic filing since it is more secure, efficient, and faster than paper returns. With e-filed returns, average refund processing times are currently six days compared to 12 days for paper returns.
Have you been named trustee or successor trustee for someone’s trust? Do you know your responsibilities as a trustee? Initially, you act only when the person, called the grantor, is unable to manage their financial affairs.
According to the Bureau of Labor Statistics, employment of accountants and auditors is projected to grow 10 percent through 2026, faster than average for all occupations. Accountants and auditors are also ranked as the fifth highest paying job through 2026.
The Arizona Department of Revenue (ADOR) advises taxpayers they should avoid “ghost” tax return preparers. A ghost preparer is paid to prepare a tax return, but does not sign it or include necessary information. ADOR warns taxpayers to be aware they may be a part of a scam if a preparer will not place their name on the tax return.
Wallace Plese + Dreher conducted its second annual Spelling Bee contests in Scottsdale and Chandler. Employees took a break from numbers to demonstrate their vocabulary skills.
If you enter into contracts with customers to transfer goods or services either domestically or internationally, the Financial Accounting Standards Board (FASB) has provided clarification about revenue recognition.
Driver’s licenses, issued by states, have been the de facto national ID card. However, the federal government has now set higher security standards. On October 1, 2020, standard Arizona driver’s licenses will not be accepted at airports and federal-building security checkpoints. Why? This is when the REAL ID Act takes effect and your driver’s license will no longer serve as a comprehensive ID.