What is Arizona food? Is it a chimichanga? Or a Sonoran hot dog? Is it the classic Native American dish of squash, beans and corn — the three sisters? The elusive answer to that question is what Chris Malloy is attempting to nail down in his new column for the Phoenix New Times called “Sonoran[ … ]
A-Z Blog
Why you shouldn’t wait to file your 2018 income tax return
The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline, this year consider filing as soon as you can. Why? You can potentially protect yourself from tax identity theft — and reap other benefits, too. What is tax[ … ]
Tax Filing Season Begins Following Partial Government Shutdown
Tax filing season begins on Monday, just days after the 35-day partial government shutdown came to a close. It’s expected that the IRS is backlogged after the shutdown, and that tax returns may be delayed. But another shutdown is looming, as the stopgap spending bill is only lasts until Feb. 15. Another shutdown could further[ … ]
Depreciation-related breaks on business real estate: What you need to know when you file your 2018 return
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) But special tax breaks that allow deductions to be taken more quickly are available for certain real estate investments. Some of these were enhanced by[ … ]
Nicholas Cool (@shotz - Unsplash)
Arizona Unemployment Rate Increases And Salary Growth Slows Compared To Rest Of U.S.
The state’s jobless rate ticked up a tenth of a point in December as companies shed employees. New figures from the Office of Economic Opportunity put the seasonally adjusted unemployment rate at 4.8 percent. That is the result, at least in part, of private sector employment dropping by about 1,900 jobs. And the new figure[ … ]
There’s still time to get substantiation for 2018 donations
If you’re like many Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging your 2018 year-end donations. But what happens if you haven’t received such a letter — can you still claim an itemized deduction for the gift on your 2018 income tax return? It depends. Basic requirements[ … ]
What will your marginal income tax rate be?
While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks — and, in some cases, due to their filing status. But some may see additional tax savings due to their filing[ … ]
2 Major Tax Law Changes for Individuals in 2019
While most provisions of the Tax Cuts and Jobs Act (TCJA) went into effect in 2018 and either apply through 2025 or are permanent, there are two major changes under the act for 2019. Here’s a closer look. 1. Medical expense deduction threshold With rising health care costs, claiming whatever tax breaks related to health[ … ]
A refresher on major tax law changes for small-business owners
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to shift their focus to assessing whether they’ll likely owe taxes or get a refund when they file their returns[ … ]
BeachFleischman and GMLCPA form joint venture to launch virtual firm, MOD Ventures, LLC
BeachFleischman PC, a Top 200 largest firm in the U.S. and GMLCPA PLLC, an outsourced client accounting and advisory services firm announces the formation of a joint venture to launch a virtual firm, MOD Ventures, LLC. MOD Ventures combines GMLCPA with the client accounting services department of BeachFleischman to form a company that will serve[ … ]
