Benefits of Investing in Opportunity Zones, TCJA

The Opportunities Zones program enacted with the Tax Cuts and Job Act of 2017 offers three tax incentives for investing in certain low-income communities through a qualified Opportunity Fund: temporary deferral, step-up in basis, and permanent exclusion of capital gains. Under this provision, gain from the sale of any type of property that produces capital[…]

Arizona CFOs, Leaders Maintain Economic Optimism Across Industries

BeachFleischman PC 2018 Arizona CFO Spotlight Survey Highlights Three Ts: Talent, Tech & Taxes [March 2018, PHOENIX] Talent — getting enough quality talent and keeping it — is the primary economic and reputation concern of leaders participating in the third-annual Arizona CFO Spotlight Survey conducted by BeachFleischman PC. The hunt for talent edged out two-year[…]

Arizona House Moves To Permanently Bypass State Sales Tax On Digital Goods

As Arizonans gravitate toward more shopping online, GOP state lawmakers want to simplify the way consumers are taxed at the local level. The House voted Wednesday to forego ever collecting the 5.6 percent sale tax on digital products including online books, videos, cloud-based software, storage and web hosting services. Members voted 39-to-19 with bi-partisan support[…]

Growing Arizona Businesses Rely On H-2B Visas As Labor Needs Increase

The Phoenix economy is recovering, and more buildings are going up. Local nurseries are growing to meet their landscaping needs too, but have trouble getting labor to keep up with the demand. The federal government’s response is to bring more temporary visa workers for companies that can’t find Americans willing to do the work. Beneath[…]

Overlooking This Reporting Requirement Can Cost You Thousands – and May Include Jail Time!

Did you know that Arizona has Unclaimed Property laws? Failure to comply with the reporting requirements can result in penalties of 100% of the amount of assets held and additional penalties up to $5,000. In addition, if the state deems that you knowingly withheld the reports, it can prosecute for a fine of $1,000 plus[…]

New Public-Private Partnership Formed To Develop Historic Downtown Glendale

A new public-private partnership in Glendale aims to help the city get reacquainted with its downtown in the short-term, and give merchants a common voice in the long-term. City officials and the Glendale Chamber of Commerce have agreed to a contract worth a maximum of about $611,000. Now the chamber will hire a manager to[…]

What Does Angel Investor Tax Credit Program Mean For Arizona’s Tech Community?

Entrepreneurs create companies that can create jobs or even change the world. But to do any of that, first, they need capital — money to get them started. That often happens when so-called angel investors decide to take a chance on a budding company. And, now, in Arizona, those angel investors have a little more[…]

Free Workshops Help Arizona Veterans Start, Grow Businesses

Helping military veterans succeed as business owners is the goal behind a series of seminars taking place across Arizona. The full-day workshops help veterans examine their ideas, understand their markets and evaluate the competition. It also focuses on start-up costs, financing and planning. “When I talk to people I’ll them you will learn from all[…]