The Arizona Department of Revenue (ADOR) reminds businesses they are required to renew their transaction privilege tax (TPT) license before January 1, 2025 to continue conducting business in Arizona. Penalties will be assessed for all renewals after January 31. Unrenewed licenses will not be canceled and will be billed for renewal fees and penalties. Taxpayers should … [More]
Valley CPA Co. Names Principal in Audit and Assurance Practice
REDW Advisors and CPAs is pleased to welcome Matthew J. Robertson, CPA as a Principal in its Audit and Assurance practice. Robertson will support businesses in responsible growth and maturation, modernize established accounting policies and procedures, and support business development firmwide. He will also be focused on business development, mentorship, and community … [More]
Smart Year-End Tax Strategies for Business Owners
For many businesses, the fourth quarter is about more than closing sales or hitting revenue targets—it’s also about leveraging tax benefits to reduce liabilities and plan for a prosperous year ahead. Making these small but effective tax-based changes can make a significant difference in a company's bottom line. Whether you’re a small business owner or managing a larger … [More]
Fleet Maintenance Tips to Keep Your Business Running Smoothly
Maintaining a functioning working fleet of trucks is key to the success of any business that relies on transportation. Whether for a plumber, electrician, a roofing company or a water distribution company, keeping the vehicles maintained, running well and safe are key aspects of the business. Making sure preventive maintenance takes place with the business’s fleet of vehicles … [More]
Top Tax Advisors Firm Names New Leader for Phoenix
Grant Thornton, one of America’s largest brands of professionals providing end-to-end audit, assurance, tax, and advisory services, has named Jessica Estrada as the firm’s new market managing principal for Phoenix. In this role, Estrada will drive growth and lead strategy execution in the Phoenix market, while helping her team deliver personalized client experiences. Estrada … [More]
ADOR Asks That You Stay Connected for State Tax Updates and News
The 2025 tax season may seem far off into the future, but now is the perfect time to keep up on the latest news and updates from the Arizona Department of Revenue (ADOR). Taxpayers can easily access critical information and communicate with ADOR through LinkedIn, Facebook, X, YouTube, and NextDoor. ADOR shares new developments related to self-service enhancements, tax … [More]
Arizona’s Largest Locally Owned Public Accounting Firm Appoints Innovation Principal
BeachFleischman PLLC announces the promotion of Travis Jones, CPA, to Innovation Principal. Travis will lead efforts to enhance the firm's client experience, drive digital transformation, explore new business models, and optimize data-driven insights. He has 17 years of experience serving in the firm's accounting & assurance department. Travis also leads the firm's … [More]
Conducting a Mid-Year Financial Health Checkup
As we find ourselves midway through the year, it's a great moment to take stock of our financial journey so far and recalibrate for the months ahead. This is the time when many of us pause to review our progress, tweak our plans, and realign our aspirations to ensure a successful year's end. Take a moment to acknowledge your achievements thus far, rectify any missteps, and … [More]
Businesses Have a Role in Water Conservation
Water conservation is more than just individual acts of responsibility; it’s an investment into the future of local businesses, families and a vibrant Arizona. Although most of the water use in Arizona is isolated to outdoor functions, including landscape and agriculture, businesses from the retail to manufacturing spaces have the opportunity to reduce water use by adopting … [More]
Be Ready for Next Year: IRS Tax Withholding Estimator Helps Ensure Withholdings Are Correct for 2024
The IRS encourages taxpayers to use the IRS Tax Withholding Estimator to ensure they’re withholding the correct amount of tax from their pay in 2024. This digital tool provides workers, self-employed individuals and retirees with wage income a user-friendly resource to effectively adjust the amount of income tax withheld from their wages. The Tax … [More]
CEO of Goodwill of Central and Northern Arizona Receives Prestigious National Award
Goodwill of Central and Northern Arizona (GNCA) announced that Tim O'Neal, President & CEO, has been honored with the prestigious P.J. Trevethan Award for 2024. This esteemed award is presented annually to one Goodwill CEO from across the national network of over 150 organizations, to recognize their outstanding contribution to the training of their own team and their … [More]
Noteworthy Changes for the 2024 Tax Season Affecting Small Businesses and Individuals
It’s a new tax season, signaling a time of financial planning and assessment for individuals and businesses alike. Taxpayers must be keenly aware of the tax-law changes in 2024, since these changes will impact those across various income brackets. Creating a new financial plan during the tax bracket shift allows taxpayers to minimize tax liability and be aware of new … [More]
Accounting and Business Advisory Firm Announces Two New Partners, Says New Era of Growth Ahead
Lohman Company, PLLC, a premier accounting and business advisory firm, proudly announces the addition of two new partners, Dennis Hare and Michael Tsui, to its leadership team. This marks a significant milestone as the first expansion in partnership since 2021, reflecting the firm’s robust growth, particularly in the Tax and Project Professional Services … [More]
IRS Announces Limited-Time Repayment Program for Faulty Employee Retention Credit Applications
The Internal Revenue Service has just published Announcement 2023-3 which allows companies to repay Employee Retention Credit (“ERC”) funds that they received from the federal government based on a defective application. The Service is offering this program to mitigate the impact on businesses who were the victims of unscrupulous promoters of ERC applications. The limited … [More]
Navigating the Path to Tax Season Success
Essential end-of-year strategies for Arizona business leaders
As 2023 draws to a close, business owners in Arizona gear up for the inevitable task of tax preparation. While end-of-year accounting can often feel like drudgery, when done right, the significance of proper planning to drive long-term success cannot be overstated. From leveraging tax law changes to buttoning up charitable contributions and large purchases, ensuring your … [More]
IRS Issues Standard Mileage Rates for 2024, Increases to 67 Cents a Mile
The Internal Revenue Service issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 67 cents per mile driven for business use, up 1.5 … [More]
Less Than Two Weeks to Renew Arizona Transaction Privilege Tax License
As a reminder, businesses are required to renew their transaction privilege tax (TPT) license before January 1, 2024 to continue conducting business in Arizona. Penalties will be assessed for all renewals after January 31. The Arizona Department of Revenue (ADOR) urges taxpayers to file, pay, and renew online through AZTaxes.gov for easier renewals and faster processing. … [More]
How to Get Your Financial Footing in the New Year
National nonprofit credit counseling agency Take Charge America outlines seven tips for a fresh financial outlook
Millions of people are eyeing a fresh financial start as the new year nears. With 67% of Americans planning to make a financial resolution in 2024, paying off debt is the most common goal. Despite an air of optimism, resolutions like this are quickly put on the backburner without a plan driving them forward. “With rising inflation, increasing interest rates and economic … [More]
