To deduct business losses, you may have to prove “material participation”

You can only deduct losses from an S corporation, partnership or LLC if you “materially participate” in the business. If you don’t, your losses are generally “passive” and can only be used to offset income from other passive activities. Any excess passive loss is suspended and must be carried forward to future years. Material participation[ … ]

BeachFleischman PC appoints Marc Fleischman as Chief Executive Officer

BeachFleischman PC announces that Marc Fleischman has been appointed Chief Executive Officer. Fleischman succeeds Bruce Beach, who led the firm as CEO since 1990. Fleischman will guide BeachFleischman’s vision and strategy, and will continue to maintain his role leading the firm’s Litigation Support practice. Beach will remain as chairman of the board and senior advisor,[ … ]

BeachFleischman PC and Cervantes CPA Firm, P.C. merge to expand Phoenix footprint

Phoenix, AZ – January 1, 2016 – BeachFleischman PC, one of Arizona’s largest locally-owned CPA firms, is proud to announce a merger with Scottsdale-based Cervantes CPA Firm, P.C., effective January 1, 2016. The combined firms are practicing as BeachFleischman PC, and Cervantes CPA Firm’s employees, including 1 shareholder and 4 staff, have relocated to BeachFleischman’s[ … ]

BizTucson Magazine features BeachFleischman’s 25th Anniversary

As you may know, BeachFleischman is celebrating its 25th anniversary in November. This significant milestone has been recognized by BizTucson Magazine in a feature article. The story, which was published this week (Fall issue), includes the following: The origins of the firm Where we are today The strategies that support our success Our transition to[ … ]

Fats: The Good, the Bad, and the Ugly

Are you looking for healthy tips to share with your employees? Creating a workplace wellness program or educating employees with healthy lifestyle tips is a great way to show your employees you care about their health and well-being! The American Heart Association website offers helpful information on nutrition, stress management, weight management and workplace wellness.[ … ]

All income investments aren’t alike when it comes to taxes

The tax treatment of investment income varies, and not just based on whether the income is in the form of dividends or interest. Qualified dividends are taxed at the favorable long-term capital gains tax rate (generally 15% or 20%) rather than at the applicable ordinary-income tax rate (which might be as high as 39.6%). Interest[ … ]

BeachFleischman ranked as largest locally-owned CPA firm in Arizona

INSIDE Public Accounting ranks “Top 200” Firms in the U.S. BeachFleischman has been named to Inside Public Accounting’s (IPA) list of the Top 200 Largest CPA firms in the U.S. The firm ranks as the 137th largest firm in the country, up from 153 in 2014. BeachFleischman’s climb in the national rankings also helped the firm[ … ]

Watch out for tax consequences when hiring telecommuters outside your state

If you allow employees to telecommute, be sure to consider the potential tax implications. Hiring someone in another state, for example, might create sufficient nexus to expose your company to that state’s income, sales and use, franchise, withholding, or unemployment taxes. And the employee might be subject to double taxation if both states attempt to[ … ]

BeachFleischman named by Accounting Today as one of the “2014 Best Accounting Firms to Work for”

BeachFleischman CPAs was recently named as one of the 2014 Accounting Today’s Best Accounting Firms to Work for. Accounting Today has partnered with Best Companies Group to identify companies that have excelled in creating quality workplaces for employees. This survey and awards program is designed to identify, recognize and honor the best employers in the[ … ]