All U.S. owners, who own 10% or more of a foreign company, must include their pro-rata share of the accumulated earnings of the foreign company as income in 2017. This is effectively requiring the U.S. owner to pay a transition tax on the untaxed foreign earnings.
A ballot measure was filed with the Secretary of State to amend Arizona’s Constitution to protect taxpayers from sales tax on services. The measure is supported by the Citizens for Fair Tax Policy, Arizona Retailers Association, and Arizona Association of Realtors. For the proposition to make it to the November ballot, at least 225,963 signatures are required by July 5, 2018.
Wallace, Plese + Dreher (WP+D) proudly announces its recognition as the No. 1 Accounting Firm by Ranking Arizona.
The Arizona Department of Revenue (ADOR) shared recommendations for selecting the right tax professional this filing season. When choosing your tax professional, consider their formal training; current training; professional licenses; years of experience; availability of e-file services; and security measures for protecting clients’ tax records.
Sara B. Nance, CPA added to ICAN: Positive Programs for Youth’s Board of Directors. The Firm’s commitment to the nonprofit sector is demonstrated by our involvement in community projects and participation on boards.
Most business owners do not have interruption insurance, which could be a critical mistake. See how rising numbers of natural disasters may factor into today’s decisions.
Important new tax changes may mean charitably-minded individuals might consider new giving strategies and evaluate appreciated stock and donor-advised funds. Insights into giving strategies are included in this article.
Wallace, Plese + Dreher congratulates Patrick Rae, CPA on receiving his Certified Construction Industry Financial Professional (CCIFP) designation.
The Arizona Department of Revenue (ADOR) reminds taxpayers to stay alert in protecting their confidential information from getting in the wrong hands. Be cautious of companies or individuals who contact you offering free incentives or asking to receive money.
No matter where your company is headquartered, you probably conduct business across other state borders. How do taxes work across state borders? Read further for guidance on compliance and multistate taxes.
Traditionally, IRAs contain funds or individual securities, but it is possible to put other kinds of investments into these accounts, including real estate. There are rewards and potential risks with this strategy.
In 2018, changes to individual and corporate income tax rates become effective under the new tax legislation called the Tax Cuts and Jobs Act (TCJA). For example, TCJA drops the corporate income tax rate to 21% and modifies individual rate brackets. Read further for full details.