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.
The majority of the new tax law changes expire at the end of 2025. With the right strategies and planning, business owners can maximize opportunities offered by the new tax law.
As of January 1, 2020, all leases, including short-term leases, must be recorded on a company’s balance sheet. What does the new Financial Accounting Standards Board (FASB) standard mean for your business?
Other than a home, a car is typically the biggest purchase you will make. Many car owners do not consider the financial implications. What are the benefits and disadvantages of buying and leasing a car?
Congratulations to Sara B. Nance, CPA on her recognition as one of the Most Influential Women in Arizona 2019. Chosen from more than 2,000 women, Sara and 49 other talented women were selected for impacting their organizations and business community.
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.
Wallace, Plese + Dreher (WP+D) congratulates our professionals on their well-deserved promotions. Our people have diverse backgrounds, speak a variety of languages, and possess a wide-range of technical skills. Promotions reflect our workplace culture that encourages continuous learning and career development.
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.