Security Notice: Safeguard Your Payments with Our Online Payment System According to a recent warning issued by the U.S. Postal Service, there has been a notable increase in checks being stolen during mail transit. Sophisticated scam artists are using the data from bank checks and are able to alter the payee’s Read more…
Reminder: Upcoming Quarterly Estimated Tax Deadline As we approach the end of the quarter, we would like to bring your attention to the upcoming September 15th due date for quarterly estimated tax payments. For those of you who are required to make these payments, kindly ensure that you review and submit your Read more…
Six Essential Tax Considerations for Small Businesses and Start-Ups To navigate the complexities of tax compliance and optimization, we have compiled a list of six essential tax considerations that can significantly impact the financial success of your small business or start-up. Step 1: Identifying Individual and Business Filing Status Choosing the Read more…
Tax Tip for College Grads – Maximize Paychecks with Part-Year Withholding The standard federal tax withholding tables are based on the assumption that individuals will earn a full year’s income, potentially leading to higher tax withholding amounts. However, for college grads beginning employment mid-year, this assumption may not accurately reflect their Read more…
Nine factors commonly used to gauge whether it’s a business or a hobby Businesses engaged in activities for-profit can deduct costs as incurred whereas activities considered “hobbies” are subject to limitations on deductibility. By strategically addressing these following factors (and possibly others), you can strengthen your position to account for Read more…
Arizona Employees Must be Provided the New AZ Withholding Form With the change to Arizona’s income tax rates to a lower rate, the Department of Revenue has updated the 2023 Arizona employee income tax withholding form to reflect new lower withholding rates. Every Arizona employer is required to make this Read more…
Year-End Planning – Arizona Pass-through Entity State Tax Election Tax year 2022 will be the first year eligible partnerships and S corporations will be able to elect into an Arizona pass-through entity level tax at a rate comparable to that of individual residents of Arizona. The entity level tax is Read more…
2022 Individual Year-End Income Tax Planning Before the end of the tax year, you may consider the following actions as a means of reducing your exposure to income taxes in the current year. Not all will apply to you, but many may. Please contact us to discuss the potential benefit Read more…
2022 Year End Income Tax Planning for Your Business Before the end of the tax year, you may consider the following actions as a means of reducing your exposure to income taxes in the current year. Not all will apply to you, but many may. Please contact us to discuss Read more…
2022 Year-End Individual Tax Planning Although this year included some major changes in the tax code as it relates to energy credits (mostly effective in 2023 and subsequent years), it was the first year since the passage of the Tax Cuts and Jobs Act of 2017 that planning for income Read more…