Certain types of businesses receive large payments of cash. They may be required to report the transactions to the IRS. Here are the rules.
American Rescue Plan Act of 2021 – A Closer Look
The American Rescue Plan Act of 2021 was signed into law on March 11, 2021. We’ve gathered highlights of noteworthy ARPA provisions for businesses and individuals.
The Restaurant Revitalization Fund is now live
If your business is a restaurant or anything like one, you may qualify for funding under the just-launched Restaurant Revitalization Fund. But you’ve got to act soon.
EIDL loans, restaurant grants offer relief to struggling small businesses
Could your small business or restaurant use a tax-advantaged loan from the Small Business Administration? A recently passed COVID-relief act offers a couple of intriguing options.
How Congress is Planning to Rescue Restaurants Through Tax Deductions
Lawmakers seek to tweak an existing business deduction to boost the restaurant industry’s bottom line and put thousands back to work.
Employer-Provided Disaster Relief & COVID-19
Amid the COVID-19 pandemic, many employers are looking for tax-advantaged ways to help their employees with additional expenses incurred as a result of the pandemic. Section 139 of the Internal Revenue Code provides the answer. On March 13, 2020, President Trump declared COVID-19 a national disaster under the Robert T. Stafford Disaster Relief and Emergency[ … ]
Industry Outlook 2018: Hospitality & Restaurant
The 2018 Arizona CFO Spotlight Survey attracted respondents from a number of industries in Phoenix and Tucson. We will highlight the hospitality & restaurant segment here in terms of growth, risk factors, strengths and trends. Survey respondents in the hospitality and restaurant industry are among the smallest group of participants in the 2018 Survey; they[ … ]
Industry Outlook: Hospitality
The 2017 CFO Spotlight Survey attracted respondents from a number of industries in Phoenix and Tucson. We will highlight the hospitality segment here in terms of growth, risk factors, strengths and trends. Survey respondents in hospitality came from an eclectic group of tourism and entertainment organizations as well as vendors and distributors. About 75% of[ … ]
The Fate of Vacation Rentals in Tucson with the onset of Commercial Taxation
Through the years, vacation rentals in many locations including Tucson have been popular for people who desire a private vacation experience or prefer a convenient short-term rental. However, developments in the last year brought what some considered a rather disturbing possibility to the forefront. Property Taxes During 2015, the Pima County Assessor reclassified hundreds of[ … ]
New Retail and Restaurant Remodel/Refresh Safe Harbor
The tangible property regulations have added increased complexity for many taxpayers. Although the new regulations are favorable to taxpayers in many instances, it can often be a headache to determine the correct treatment. In an effort to mitigate disputes regarding the deductibility and capitalization of remodel and refresh costs between the Internal Revenue Service (IRS)[ … ]
