Business owners: When it comes to IRS audits, be prepared

If you recently filed your 2016 income tax return (rather than filing for an extension) you may now be wondering whether it’s likely that your business could be audited by the IRS based on your filing. Here’s what every business owner should know about the process. Catching the IRS’s eye Many business audits occur randomly,[ … ]

Real estate investor vs. professional- Why it matters

Income and losses from investment real estate or rental property are passive by definition — unless you’re a real estate professional. Why does this matter? Passive income may be subject to the 3.8% net investment income tax (NIIT), and passive losses generally are deductible only against passive income, with the excess being carried forward. Of[ … ]

The Accountant and Child Care Advocacy: Part One

Photo courtesy: You may be wondering how you landed on an article written by a CPA that is not related to a technical issue? Allow me to explain. Recently, my wife and I received an opportunity to attend the Child Care Aware® of America’s 2017 Family Advocacy Summit. This 3 part series will take[ … ]

Report: Arizona, Phoenix Property Taxes Among Lowest

People who owned single-family homes in Arizona last year paid more than $3 billion in property taxes. The bulk of that cash — more than $2 billion — came from the Valley where the average bill was $1,900. ATTOM Data Solutions looked at property taxes by state and metro areas and found Arizona and Phoenix[ … ]

Phoenix Opens New Trade Office In Mexico

On Tuesday, March 28th, the city of Phoenix officially opened a trade office in Mexico designed to benefit Arizona manufacturers. The trade office is located more than 300 miles south of Phoenix in Hermosillo, Sonora. That’s where several Valley-based manufacturing firms ship parts and electronic component to automotive and aerospace centers. The area is dubbed[ … ]

Mexico Official To Arizona Government, Business Leaders: ‘You Get it’

As President Trump pledges to change the way business is done with Mexico by renegotiating the North American Free Trade Agreement, leaders in the Valley are calling for more partnerships. When the economic development committee for the Maricopa Association of Governments met Tuesday, they welcomed the consul general of Mexico in Phoenix. “The voice of[ … ]