While waiting on Arizona conformity I could have birthed an orca

Do you know that there is a stretch of freeway in Tempe that is slated to have an additional lane added in each of the north and the south bound directions? And this construction is expected to take 16 months. That seems like a long while – right? And it may be slightly annoying for …

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New small business/pass-through rules

My head hurts – here’s how to determine if your business bank account will too If you’re like me, and require one (or four) cups of coffee to get going in the morning, you may want to put on a fresh pot for this blog. While I was under the impression that homework over winter …

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Business use vehicles: potential new tax law impact

The new tax law is drafted and should be voted on this week. How will it impact your business? Some of the potential modifications will enhance your ability to depreciate certain business assets, such as business use vehicles. Below are a couple of the major updates and how they would impact your business vehicles (please …

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Pushing for Tax Reform – IRS Taxpayer Assistance

The American Institute of Certified Public Accountants (AICPA) recently participated in U.S. House of Representatives, Committee on Small Business hearings on tax reform with the goal of ensuring that main street isn’t left behind. One area of focus in this regard has to do with IRS Taxpayer Assistance. While it is recognized that the IRS …

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Pushing for Tax Reform – Alternative Minimum Tax Repeal

The American Institute of Certified Public Accountants (AICPA) recently participated in U.S. House of Representatives, Committee on Small Business hearings on tax reform with the goal of ensuring that main street isn’t left behind. One area of focus in this regard has to do with the Alternative Minimum Tax Repeal. The AICPA and much of …

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Pushing for Tax Reform – Civil Tax Penalties

The American Institute of Certified Public Accountants (AICPA) has recently been participating in U.S. House of Representatives, Committee on Small Business hearings on tax reform with the goal of ensuring that main street isn’t left behind. One area of focus in this regard has to do with rules relative to civil tax penalties. Over the …

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Pushing Tax Reform – TPR De Minimis Safe Harbor Threshold

The American Institute of Certified Public Accountants (AICPA) has recently been participating in U.S. House of Representatives, Committee on Small Business hearings on tax reform with the goal of ensuring that main street isn’t left behind. One area of focus in this regard has to do with rules relative to the de minimis safe harbor …

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What Happens If I Don’t Update My Plan Document?

One of the benefits to establishing a qualified retirement plan is that they are subject to favorable tax treatment.  Did you know that failing to timely amend your plan document for changes in Federal tax laws can affect your plan’s status as a tax-qualified plan?  Companies often engage third party service providers to ensure that …

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