Their Take: Corporate Education Tax Credits Are a No-Brainer

by Chad Bays

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]

Stressed Out Over Your Retirement Plan? How to Navigate in 2022

by Barry H. Spencer

For many people, saving enough money for retirement is not an easy process, but the COVID-19 pandemic has made the task even more challenging the past two years. Some who lost their jobs halted their retirement contributions and tapped into their savings. Others, feeling financially stretched, reduced the percentage of money they put toward retirement, and some retired … [More]

What to Know Before Hiring a Tax Preparer

Arizona Department of Revenue

The Arizona Department of Revenue is encouraging taxpayers to practice due diligence when selecting a tax preparer this tax season. Whether you prepare your own return or hire a tax preparer, you, the taxpayer, are ultimately responsible for what is filed. According to the IRS, over 50 percent of tax filers used tax preparation services in 2021. While the majority are … [More]

Arizona’s Tax Season Now Open 

Arizona Department of Revenue

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]

Must-Know Information for Tax Season

Arete Financial Solutions

For business owners, the end-of-year holiday season is quickly replaced with tax season. And with the IRS pushing the opening filing date forward to Jan. 24, it’s even more important for business owners to have all their financial ducks in a row to file their 2021 return. In addition to an earlier opening date, most businesses, with the exception of sole proprietorships and … [More]

Tips for Renewal of Arizona TPT Licenses Online

Arizona Department of Revenue

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]

Top 6 Accounting Trends to Pay Attention to in 2021 and Beyond

by Phil Cord

Today, ever-evolving technology has become an essential component of many business operations, including the accounting and finance sector. Technology has already changed manual bookkeeping, affecting how companies deal with cash flows, taxes, invoices, receipts, data management, bank reconciliations, payrolls and more. While certain technical advancements in the accounting … [More]

Are Investors Missing This Huge Opportunity in Their Private Equity Due Diligence?

by Dr. Chris Croner

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

by Joe and Patty Caradonna

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]

Tax Changes Are Coming – So Be Aware of the Impact on You

inbusinessPHX.com

Just when Americans think they understand how to calculate their income taxes – the rules evolve again. That’s happening now as President Joe Biden has proposed a number of tax changes as part of his American Families Plan. Just how those changes might play out for any specific individual remains a work in progress, though. “There is still time for plenty of wrangling in … [More]

Counterfeit Money: How to Spot Fake Bills

ZenBusiness

When retailers accept fake bills, they bear the entire burden of the loss. And although money printing techniques are improving, the bad bills can be detected. Here’s how to spot counterfeit money and protect your business from related losses. Unfortunately for businesses, not all counterfeit bills are found and seized before getting into distribution. And when a business … [More]

4 Key Aspects of Restaurant and Bar Insurance Coverage

by David DeLorenzo

One of the most important things a bar or restaurant owner will have to manage in their business is their insurance. Intended to help protect owners against a host of issues, proper insurance coverage can truly “make or break” a business. It’s essential to work with a professional, experienced agent who knows the ins and outs of the hospitality industry, as this type of … [More]

Tax Survey: High Taxes Remain a Significant Burden on Small Businesses

NFIB

The NFIB Research Center released today a new tax survey of small business owners assessing their biggest tax challenges, implications of potential changes to the tax code, and how tax policy impacts business operations. Most notably, federal income and payroll taxes are significant costs and administrative burdens for small businesses. “High tax rates have … [More]

Five Tips to Make Your Vacation Tax Deductible

by Tom Wheelwright, CPA

There are many tax benefits for business owners and one of the best is the ability to legally deduct travel expenses. A “business owner” includes a wide range of definitions, from CEO of a Fortune 5000 company to a small-business owner to an individual employee who runs a side business that is legally registered. Here’s how you can legally deduct an entire family vacation by … [More]

More than 2.3M Additional Economic Impact Payments Disbursed under the American Rescue Plan, Total Payments Top 169M

Internal Revenue Service

The Internal Revenue Service, the U.S. Department of the Treasury, and the Bureau of the Fiscal Service announced today they have disbursed more than 2.3 million additional Economic Impact Payments under the American Rescue Plan. Today's announcement covering the most recent two weeks of the effort brings the total disbursed so far to more than 169 million … [More]

One-Page Business Plan: How to Create a Plan to Achieve Your Goals and Grow

by Edgar R. Olivo

Why is a business plan important? It helps business owners explore a business opportunity, create strategies to operate successfully, and guides them toward their goals. It is an important tool used during the valuation of a business and financial institutions as well as investors usually insist on reviewing one before making an investment. And, according to research, having a … [More]

Deadline Today for Individual Income Tax Returns: Extensions, Other Help Available

Internal Revenue Service

The Internal Revenue Service reminds taxpayers that the deadline for filing most individual income tax returns this year is May 17. The agency also wants taxpayers who have yet to file their tax returns to know that there are a variety of options available to help them. IRS tax help is available 24 hours a day on IRS.gov. Whether filing a tax return, … [More]

IRS Has Options for Gig Economy Workers and Those with Unemployment Benefits

Internal Revenue Service

The Internal Revenue Service reminds workers in the gig economy and those who claimed unemployment compensation in 2020 of their options and where to find information on meeting their tax obligations. Gig economy The gig economy refers to income earned providing on-demand work performing services or selling goods, including driving a car for booked rides … [More]

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