Arizona Form A-4 Effective January 31, 2023
All Arizona employers must provide the new tax rate options to their employees by January 31, 2023, either electronically through an online portal, fillable form, or paper form.
Insights
2023 Wallace Plese + Dreher Employee Promotions
Effective January 1, 2023, Wallace Plese + Dreher promoted several employees. Learn about their diverse backgrounds and experience.
2023 Mileage Rates
In June 2022, the IRS made a rare midyear adjustment to mileage deductions because of rising gas costs. For 2023, the IRS increased the number again.
Arizona Tax Changes and Filing Due Date
Taxpayers have until Tuesday, April 18, 2023, to file their 2022 tax return since April 15, 2023 falls on a federal holiday. If filing an extension, the extended due date to file the income tax return is October 16, 2023 because October 15, 2023 falls on a Sunday.
Phoenix ZooLights
Wallace Plese + Dreher’s employees enjoyed a unique holiday experience at the Phoenix ZooLights.
2022 Charitable Donations
If you expect to itemize deductions in 2022, you may benefit from contributions to qualified charitable organizations. As long as you make a donation in 2022, it is deductible on your 2022 return, including charging the donation to a credit card on December 31.
New Lease Accounting Standard
Effective for 2022, private companies that issue financial statements prepared under U.S. GAAP are required to conform to a new lease accounting standard affecting their 2022 financial statements. Changes from the new lease accounting standard should be reflected in annual financial statements issued in 2023.
New Arizona Form A-4
Arizona’s Individual Income Tax Withholding Form, Arizona Form A-4, has been updated to reflect Arizona’s lower individual income tax rates. By January 31, 2023, every Arizona employer is required to make this form available to its Arizona employees.
Home Sellers’ Profit Exclusions Are Not One-Time Opportunities
Many homeowners sell their houses at a profit, which raises questions about taxation. Fortunately, the IRS gives breaks on these profits. Learn about the details that can save you a lot of money.
Balancing In-Person and Remote Employees
Companies with remote and in-person employees should create a plan to measure achievements in all situations.
Electric Vehicle Tax Credit
If you are interested in claiming the EV tax credit for purchasing a new electric vehicle after August 16, 2022, a tax credit is generally available only for qualifying electric vehicles where final assembly occurred in North America. A transition rule applies for electric vehicles purchased before August 16, 2022.
Rightsizing Your Arizona Company
How do you know if your Arizona company has too few or too many employees? Do you know the best way to adapt your workforce as your company grows and develops?