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]
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]
