Disasters can have an immediate and lasting impact on individuals, organizations, and businesses. Year-round preparation is critically important. The IRS offers tips for protecting personal and business information in an emergency.
Your business is generating money, but you are struggling with tracking expenses, paying bills, and accounting tasks. We can help transform your accounting by streamlining processes and providing education about the best software for your business.
Are you concerned about the likelihood of your business being audited by the IRS? What does the IRS see as red flags? How can you avoid them?
You found out that your business is being audited. It can strike fear in your heart. Learn what a tax audit entails, how to work with the IRS, and get through the process.
On April 16, 2024, the IRS revised frequently asked questions for the new and previously owned clean vehicle credits.
The first quarter estimated tax payment for tax year 2024 is due April 15. Estimated payments apply to self-employed individuals, retirees, investors, businesses, and corporations.
When operating an Arizona business, in addition to the industry, the services or products that you offer will affect the records you retain. What records does the IRS expect you to retain? How should you record and organize your business-related costs and revenue?
As evidenced by recently issued proposed regulations, the IRS is increasingly scrutinizing digital assets.
You have the right as a taxpayer to appeal an IRS decision in an independent forum. Learn more about your rights regarding IRS decision appeals.
Wallace Plese + Dreher attended Grand Canyon University (GCU), Colangelo College of Business, Meet the Firms, on February 6, 2024. The Firm’s recruiting team, Nathan Nicholes and Nate Salazar, discussed their diverse experience and job opportunities with the Firm.
Wallace Plese + Dreher welcomes tax interns Kitana Apante, Erica Masuyama, and Ryan Xie.
The government gave taxpayers a break during the pandemic and paused sending collection notices. Collection notices are resuming in 2024.
Wallace Plese + Dreher (WP+D) elected Hannah J. Oglesby, CPA, CFP® to partner, effective January 1, 2024, bringing the Firm’s total partners to ten.
Effective January 1, 2024, Wallace Plese + Dreher promoted a number of employees with diverse backgrounds and experience.
For 2024, there is a $150 increase to the Flexible Spending Account (FSA) contribution limit. Throughout the year, taxpayers can use FSA funds for qualified medical expenses not covered by their health plan.
The IRS issued the 2024 optional standard mileage rates used to calculate deductible costs of operating an automobile for business, charitable, medical, or moving purposes.
Wallace Plese + Dreher hosted its annual holiday party at the Fairmont Scottsdale Princess.
Would you like to reward your employees with a year-end bonus and deduct the bonuses on your company’s 2023 tax returns?
The IRS issued tax adjustments for tax year 2024, which applies to income tax returns filed in 2025, including the standard deduction for married couples filing jointly for tax year 2024, Alternative Minimum Tax (AMT) exemption, and Earned Income Tax Credit (EITC).
All companies need an effective bill-paying system. What are the best ways to build and manage an efficient accounts payable process?
Wallace Plese + Dreher attended Northern Arizona University’s (NAU) Career Fair, hosted by W.A. Franke College of Business, on September 29, 2023.
Wallace Plese + Dreher attended UofA’s Meet the Firms hosted by the Eller College of Management, Dhaliwal-Reidy School of Accountancy, on September 21, 2023.
Wallace Plese + Dreher attended ASU’s Meet the Firms hosted by the School of Accountancy, W.P. Carey School of Business, on September 19, 2023.
Allison Lynn Dozbaba, CPA, Tax Partner, Wallace Plese + Dreher, and daughter, Brynn, attended the Diamondbacks pre-game on August 24, 2023, recognizing her and other women as Most Influential Women in Arizona Business for 2023.
The holiday season is the most popular time for companies to offer gifts to their employees. Although, there may be other occasions that might be gift worthy too. What are some of the ways a business can build goodwill with its employees?
ASCPA featured Barry S. Graham, CPA in the September/October AZ CPA magazine. Haley MacDonell, Editor, shares a glimpse of a Scottsdale City Council meeting and Barry’s perspective on serving as a new councilmember. Read further for the full article.
Beginning January 1, 2024, businesses receiving more than $10,000 in cash must report transactions to the U.S. government by e-filing Form 8300 instead of filing a paper return.
Consumers considering an automobile purchase should understand several recent changes to the new Clean Vehicle Credit for qualified plug-in electric drive vehicles, including qualified manufacturers and tax rules.
Effective August 1, 2023, the U.S. Citizenship and Immigration Services (USCIS) will release a new Form I-9, used to check employment eligibility verification. Beginning November 1, 2023, all employers must use the new Form I-9.
For the third consecutive year, Wallace Plese + Dreher has been named as an Arizona 2021-2023 Top Workplace. Survey results are based on specific qualities: compensation, benefits, workplace flexibility, leadership, and training.
Obtaining an Employer Identification Number (EIN) is essential for sole proprietorships, corporations, partnerships, and limited liability companies. In some cases, there may be reasons for obtaining a new EIN for your business.
Congratulations to Allison Lynn Dozbaba, CPA, tax partner, on being selected as one of the Most Influential Women in Arizona Business for 2023.
If you are running a company, you may be experiencing a lot of uneasiness. What are the thoughts or issues chief financial officers (CFOs) are facing today?
There comes a time when a business owner must decide the future of their business. Choices include selling the business, transitioning to a successor, filing for bankruptcy, or closing.
The IRS and tax professionals continue to see aggressive broadcast advertising, direct mail solicitations, and online promotions involving the ERC. While the credit is real, aggressive promoters are misrepresenting and exaggerating who can qualify for the credits.
The Arizona Department of Revenue (ADOR) encourages taxpayers to keep well-organized records and to securely discard old documents.
Everyone has heard of the FDIC, which was created in the 1930s to guard our money in the event of bank failures. Why is it still an essential pillar of today’s financial industry?
Effective January 1, 2023, Arizona’s minimum wage increased from $12.80 to $13.85. According to the Industrial Commission of Arizona, the $1.05 increase in minimum wage is based on the increase in inflation between August 2021 and August 2022, as published in the U.S. Bureau of Labor Statistics’ Consumer Price Index.
The IRS warns about Employee Retention Credit claims to con ineligible people to claim the ERC credit. Some of these offers collect your personally identifiable information in exchange for false promises.
What more could a young person embarking on their professional journey ask for, right? You get to use your brain and get to make some bank? It seems like a no-brainer.
The accounting industry is rapidly evolving and firms that don’t adapt risk being left behind. Here’s what experts say are six trends to watch in the accounting industry in 2023.
It seems contrary to long-standing policy, but in a recent ruling, the Supreme Court decided that in certain situations, highly compensated employees (HCEs) can earn overtime pay.
If you buy a new plug-in electric vehicle (EV) or fuel cell vehicle (FCV) in 2023 or after, you may qualify for a clean vehicle tax credit of up to $7,500.
Effective January 1, 2023, Pace & Company, PC joined Wallace Plese + Dreher. For more than 25 years, Pace & Company, PC provided tax planning and advice to corporations, partnerships, individuals, and estates and trusts in Arizona and throughout the U.S.
Wallace Plese + Dreher named one of 50 companies to watch shape Arizona’s economy in 2023.
All Arizona employers must provide the new tax rate options to their employees by January 31, 2023, either electronically through an online portal, fillable form, or paper form.
Effective January 1, 2023, Wallace Plese + Dreher promoted several employees. Learn about their diverse backgrounds and experience.
In June 2022, the IRS made a rare midyear adjustment to mileage deductions because of rising gas costs. For 2023, the IRS increased the number again.
Taxpayers have until Tuesday, April 18, 2023, to file their 2022 tax return since April 15, 2023 falls on a federal holiday. If filing an extension, the extended due date to file the income tax return is October 16, 2023 because October 15, 2023 falls on a Sunday.
Wallace Plese + Dreher’s employees enjoyed a unique holiday experience at the Phoenix ZooLights.