Artificial Intelligence (AI) is everywhere. There may be a growing temptation to believe this technology is poised to take over accounting. But in the real world – especially for Arizona CPAs working with private companies, the story is far more nuanced.
Stay on track and avoid costly IRS penalties by understanding which forms to use. Businesses must prepare 1099s for contractors and vendors by February 2, 2026.
For most people, tax season brings a quiet panic about what they might be forgetting and a last-minute rush to pull everything together before the deadline. But it doesn’t have to be that way. With just a little preparation, you can avoid surprises, minimize your tax bill, and make the entire process smoother for both you and your advisor.
We are proud to recognize 10 team members for their growth and leadership at WP+D with the following promotions.
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.
The recently passed law has a lot of complex provisions, which have led to a lot of misinformation. Fortunately, the IRS has just published a guide to many of the new rules. Read about the provisions, so you can discuss them with your tax advisor at WP+D.