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[ … ]

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[ … ]