2021

As businesses face a tough hiring market, the IRS wants to remind employers of the work opportunity credit available, now extended through 2025. This credit encourages employers to hire workers from ten targeted groups that have typically faced barriers to employment. The article below details the various

Are the people that work for me Independent Contractors or Employees? Our office gets this question frequently: The below article quickly summarizes how to determine if your workers are classified correctly and procedures to correct, if you have misclassified some workers. The three main points to consider

Throughout the 2021 tax year, many people continue to work from home; however, only certain taxpayers will qualify to claim the home office deduction. As a reminder, W2 employees (including S Corporation owners) are not eligible to claim a home office deduction; therefore, we continue to suggest

2021 Charitable Deductions As the end of the 2021 tax year is approaching, a reminder for those individual taxpayers NOT itemizing their deductions, a charitable contribution deduction in addition to their standard deduction of up to $300 for single, head of household, or married filing separate filers

As you may have heard, the government is looking closely at crypto-currency and crypto-asset markets, contemplating additional reporting requirements for taxpayers who invest, earn, buy and sell services and items with crypto-assets. Many taxpayers have waded into this type of investment and may buy and sell services

As a reminder, first contact from the IRS is generally a letter delivered by the USPS to a taxpayer, but not always. Depending on the situation, IRS agents may first call or visit a taxpayer.  In addition, IRS agents may call a taxpayer or tax professional after

As a reminder, the IRS (and many other tax agencies) will never reach out to you via email, phone or text, without first sending you a snail-mail letter regarding the issue. DON’T PANIC – A letter from the IRS does not automatically mean something is wrong with

The State of Arizona Individual Income tax return allows a deduction for contributions to qualified Section 529 accounts with a maximum deduction amount of $2,000 for Single (Head of Household-HofH) and $4,000 for Married Filing Joint (MFJ) filers. The State of Arizona recently passed amendments to these

Are you still waiting for a refund or a response to a letter sent to the IRS?  If so, please know that the IRS continues to have service disruptions due to COVID-19. As of August 6, 2021, for IRS return processing, “the IRS is opening mail within

Due to the current tough labor market, many employers are looking for various ways to retain their valuable employees by offering perks (“fringe benefits”) in addition to compensation.  A fringe benefit can be anything the employer gives as a “form of payment,” such as property, services, cash,