McGuire Sponsel, a specialty tax consulting firm with clients throughout the United States, announced today an investment in a new firm regional office located in Phoenix, Arizona. Firm leaders say the new office, which is be fully staffed with employees across all four firm practice lines, was a natural fit based on the firm’s growth and an opportunity to be a greater resource … [More]
Nonprofit Advisory Services Practice Launches in Arizona Market
FORVIS, a professional services firm providing assurance, tax, and advisory services, has expanded its nonprofit advisory services practice to the Arizona market with the addition of Pete Finley. Finley has more than 25 years of experience in tax, audit, and nonprofit executive leadership. Prior to joining the firm, Finley worked as chief operating officer for Make-A-Wish … [More]
Arizona Gives Day Reminds Us of Deadline to Donate to Qualified Charities for 2022 Tax Credit
The Arizona Department of Revenue (ADOR) reminds individuals they have until the tax deadline of April 18 to make donations to qualified charitable organizations and claim the Arizona tax credits on their 2022 Arizona individual income tax return. Qualifying Charitable Organizations and Qualifying Foster Care Charitable Organizations Arizona has two separate tax credits … [More]
Finance & Loan Navigator Program Teaches Key Skills to Nonprofit Leaders
The Alliance of Arizona Nonprofits + Arizona Grantmakers Forum has launched an innovative new program to help nonprofit leaders better understand and manage their organization’s finances, free of charge. The Finance & Loan Navigator program is available to help create a better understanding of both organizational nonprofit finances and the loan preparedness process. The … [More]
2023 Brings Changes to Arizona Withholding Forms
Arizona employees are getting to keep a bit more in their pockets as Arizona's individual tax rate has been lowered to a flat 2.5%. Withholding forms are changing as well. Prior to January 1, 2023, individual tax rates in Arizona were 2.55% and 2.98%, and employees had five withholding choices ranging from .8% to 5.1% of gross earrings. With the implementation of the new … [More]
How to Choose a Tax Preparer
This year, United States taxpayers must file their income tax forms before the April 18, 2023 deadline. Major life changes, business ownership, or a lack of knowledge about the ever-changing tax laws make finding a trustworthy tax preparer important. Better Business Bureau Serving the Pacific Southwest (BBB) shares tips for finding someone you can trust with your finances and … [More]
CPA Firm Expands to Include Wealth Management and Estate Planning through Merger
Dietrich & Associates CPAs, a traditional tax and accounting firm, has merged with Burnett Advisors to expand its offerings and meet clients’ growth and financial needs. The firm, now called Burnett Advisors, offers wealth management, estate planning, tax and accounting services. “Partnering with Burnett Advisors helps us provide more value to our clients with new … [More]
IRS Issues Standard Mileage Rates for 2023, Business Use Increases 3 Cents per Mile
The Internal Revenue Service today issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on January 1, 2023, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 65.5 cents per mile driven for business use, … [More]
Liability in Cyber Insurance
As the cyber insurance landscape evolves at a rapid pace, underwriter diligence has increased. Many insurance carriers have become more precise with their questions, especially those related to the implementation and utilization of multifactor authorization and related risk mitigation strategies. Improperly responding to application questions can jeopardize coverage in more … [More]
J.K. Lasser’s 1001 Deductions and Tax Breaks 2023
No one likes to pay taxes. And everyone hates paying more taxes than they need to. Yet, each year, Americans make billions of dollars in tax overpayments. In J.K. Lasser’s 1001 Deductions and Tax Breaks 2023: Your Complete Guide to Everything Deductible, expert attorney and small-business advocate Barbara Weltman delivers a thorough and carefully researched explanation of the … [More]
J.K. Lasser’s Small Business Taxes 2023
Small business owners in the U.S. face enough challenges without overpaying tax. Despite this, millions of small businesses miss out on crucial deductions, tax credits, and tax-saving moves every year, resulting in higher-than-necessary tax bills. In J.K. Lasser’s Small Business Taxes 2023: Your Complete Guide to a Better Bottom Line, renowned attorney and small-business … [More]
Lower Your Taxes – BIG TIME!
The authoritative guide for navigating tax time, completely revised and updated for 2023–2024, the ninth edition of Lower Your Taxes – BIG TIME! shows taxpayers how to save thousands of dollars — legally and ethically! — during tax time. It offers proven methods for taking advantage of the tax system to get a yearly subsidy of $5,000 or more back from the IRS — and bulletproof … [More]
Southwest CPA Firm Merges with Phoenix Group, Expanding Arizona Presence
REDW LLC, which has offices in Phoenix, Albuquerque and Oklahoma City and is one of the Southwest’s 10 largest advisory and CPA firms, has announced that Phoenix-based tax and accounting firm Edwards, Largay, Mihaylo & Co., PL has joined with REDW effective October 31, 2022, increasing REDW’s Phoenix office to nearly 100 team members. What started as casual conversations … [More]
Intel Arizona’s Water Funded Projects Achieve Net Positive Water Use
Intel announced this week that their operations in the United States, Costa Rica, and India are officially net positive on water use, meaning Intel restores more freshwater than they take in. In Arizona, fifteen Intel-funded projects helped restore 890 million gallons to the watershed in 2021. In Arizona, an Intel-funded project incentivized farmers near the Verde River to … [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]
