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.
Accounting is not a skill you cultivate throughout medical school. When it comes to understanding your medical practice’s accounting and finance needs, you need the right level of accounting support.
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.
On March 7, 2019, the Department of Labor (DOL) released a proposed rule that would raise the salary-level threshold from $23,600 to $35,308 for white-collar exemptions. Meaning, the vast majority of employees earning under the threshold would be paid overtime. The change would impact approximately 1 million workers and companies would need to classify them as nonexempt and pay overtime, unless they are given raises placing them above the threshold.
The Arizona Department of Revenue (ADOR) reminds taxpayers there is a new process for claiming credits for public schools, qualified charitable organizations (QCOs), and qualified foster care organizations (QFCOs) this tax filing season.
The new Qualified Business Income (QBI) deduction, created by the 2017 tax reform law known as the Tax Cuts and Jobs Act (TCJA), allows many statutory employees, owners of sole proprietorships, partnerships, S corporations, trusts, or estates to deduct up to 20 percent of their qualified business income. Eligible taxpayers can also deduct up to 20 percent of their qualified real estate investment trust (REIT) dividends and publicly-traded partnership income.