Phoenix Tax Accountant | Donations of Appreciated Property Donating a piece of appreciated property can have a substantial benefit to your personal income tax return over selling the item and donating the proceeds. Appreciated property could be anything from a piece...
Phoenix Tax Adviser | Retail Sales Changes Effective January 1, 2015, the Arizona Department of Revenue put into effect a new amendment to the retail sales law. This amendment applies to the sales of tangible personal property to nonresidents. Sales to a nonresident...
Phoenix Accountant | Tax Season Starts With the United States Congress passing the tax extenders bill, the Tax Increase Prevention Act, the Internal Revenue Service announced that it anticipates opening the 2015 income tax filing season as originally scheduled in...
Phoenix CPAs | Sales Tax Changes With the beginning of 2015, a few new sales tax laws went into effect. Filing Frequency – If your business has an annual sales tax liability less than $2,000, you may now file your sales tax annually. Any business with an annual...
Phoenix CPA | New Year Updates With the calendar changing from 2014 to 2015, there are many new laws that go into effect that may affect you or your business. The state of Arizona has raised its minimum wage. The minimum wage in AZ goes from $7.90 to $8.05 on January...
Phoenix Accounting Firm | Year end for SCorps As the year draws to a close, their are a few tax issues we would like to take the opportunity to remind our S-Corporation shareholders of. Shareholders of S-Corporations that own a greater than 2% interest must include on...
Phoenix CPA|Taxpayer Bill of Rights The IRS has recently published a taxpayer bill of rights. There are your rights as a taxpayer. The Right to be Informed: Taxpayers have the right to know what they need to do to comply with the tax laws. They are entitled to clear...
Phoenix Accountant | Record keeping With the IRS and states struggling to stay afloat, many tax payers worry about the chances of an audit. While your chances may be slim of ever being audited, there is nothing worse than getting the letter in the mail that your...
Phoenix CPA | Tax Extenders Passed Finally! Congress waited until the last possible minute, but finally passed the long awaited tax extenders bill which President Obama finally signed on Friday. Known officially as The Tax Increase Prevention Act, this bill...
Phoenix Accounting Firm | IRS Budget Cuts This past week, the Internal Revenue Service released the downside of the cuts to their budget. The Internal Revenue Service received a budget of $10.9 billion. This may seem like a lot of money but it is 3% less than the...
