If you just received or are expecting a substantial tax refund, the temptation to indulge yourself with some extravagant purchases could be great. But before you do, take a breath and think things over, says Rob Cordasco, a CPA and author of A Framework for Growth: Smart Financial and Tax Planning Strategies Throughout the Entrepreneurial Life Cycle. That deposit the IRS … [More]
The Unknown and Underutilized COVID Business Stimulus
The Employee Retention Tax Credits, or ERC, was first enacted by the multitrillion-dollar CARES Act in March 2020 to address the economic impact of COVID on many businesses. When first enacted, the ERC gave employers the opportunity to qualify for up to 50% of $10,000 in eligible wages, or up to $5,000 worth of credits, per employee for 2020. Since then, several pieces of … [More]
Is a Business Equipment Subscription the Way to Go?
One of the barriers to starting a business is enormous, front-loaded capital outlays for equipment. Business owners can expect to face this capital expenditure (CapEx) again when equipment needs to be replaced. Equipment also incurs additional costs over time for parts, repairs and maintenance, as well as the inevitable cost of age-related underperformance. Equipment … [More]
WEBINAR – Apr 6: Ask the CPA – You’ve got tax questions, we have answers!
NFIB Ask the CPA – You’ve got tax questions, we have answers! Tax season has arrived, so you won’t want to miss this webinar with special guest Micah Fraim, CPA and small business tax expert. There’s no one better to provide a realistic and informative take on small business tax planning than Micah, a best-selling author and sought-after speaker. Join NFIB on April 6, at … [More]
Here’s Some Guidance for Taxpayers Following the Prop 208 Ruling
The Arizona Department of Revenue is issuing the following guidance for taxpayers who are affected by the recent Maricopa County Superior Court ruling striking down the surcharge imposed by Proposition 208. Taxpayers Who Have Already Filed Don’t Need to Amend Their Returns Although this late-breaking change has occurred during tax season, ADOR is working alongside its tax … [More]
Their Take: Corporate Education Tax Credits Are a No-Brainer
With April tax deadlines looming for individuals and families, there is still time to attribute your tax credits to any number of very noble local nonprofits. Whether it an organization that focuses on food insecurity, healthcare, child development or for many of us, supporting K-12 education, the ability to give of your tax credits makes a huge impact each year. But for … [More]
Arizona’s Tax Season Now Open
The State of Arizona’s individual income tax filing season has launched and is now accepting electronically filed 2021 income tax returns. Before filing, ensure you have all documentation as some tax statements are not required to be sent until January 31, such as W-2s, 1099s, and annual tax summaries. The Arizona Department of Revenue (ADOR) recommends taxpayers file … [More]
Tips for Renewal of Arizona TPT Licenses Online
The Arizona Department of Revenue (ADOR) appreciates that businesses want to renew their Transaction Privilege Tax (TPT) License on time and efficiently. In an effort to assist taxpayers through the process and reduce errors, ADOR has prepared several tips. Businesses with more than one location will not receive a paper form for renewal and must renew their licenses online … [More]
Are Investors Missing This Huge Opportunity in Their Private Equity Due Diligence?
The competition to acquire high-quality companies is intense. Private equity firms each have their own methods for evaluating the current and future values of companies they wish to invest in: the product and service, leadership team, future scalability, and competition in the space. But there’s another piece that often gets overlooked, one that may hold the biggest key of all … [More]
Outsource Document Shredding to Avoid Legal Issues
Outsourcing a company’s document shredding ensures its documents will be destroyed safely and securely. It also ensures compliance with state and federal regulations. For many businesses, these regulations include the Health Insurance Portability and Accountability Act (familiarly known as HIPAA), the Fair and Accurate Credit Transaction Act, the Sarbanes-Oxley Act and the … [More]
