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NEWSLETTERS AND RESOURCES

  • Newsletters that are relevant, to the point and timely. Your time is important. No subscription required.
  • Visit the Helpful Items tab for calculators, calendars and many other...well, helpful items!

IRS AND YOUR IRS ACCOUNT

  • To help ensure your records match what is being reported to the IRS you should review your taxpayer account
  • Do not call the IRS, rather set up and login to your online account
  • Married individuals will have their separate accounts even if they file a joint return
  • We recommend to check your account online https://www.irs.gov/payments/view-your-tax-account

ARIZONA & YOUR TAXES

  • NEW - Education Savings Deductions is now Per Beneficiary
    • Contributions to college savings plans were limited as $2,000 per taxpayer, or $4,000 per married filing joint tax return
    • NEW for 2021 the contribution is $2,000 per *beneficiary* ($4,000 per beneficiary for a married filing joint return)
    • https://www.azleg.gov/legtext/55leg/1R/laws/0395.htm
  • If you plan to pay your Arizona taxes with Charitable Tax Credits you have until 04/15//2022 to made donations and still apply them to 2021
  • Keep your records a little longer - Arizona has a 4 year statute of limitations, whereas the IRS is 3 years.

EARLY RETIREMENT DISTRIBUTIONS FOR COVID SUPPORT

  • If distributions were coronavirus-related you may be exempt from the 10% early withdrawal penalty.
  • You may be able to report the income over a three year period, thus managing your brackets intelligently!
  • https://www.irs.gov/newsroom/coronavirus-related-relief-for-retirement-plans-and-iras-questions-and-answers

Updated 08/10/2021



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MEETINGS

  • Office meetings are by appointment only, to schedule call, email or use the online calendar.
  • Front desk hours are 8:30 to 5:00 PM, Monday thru Friday
  • Masks are not required. Please advise if your comfort is for us to wear one for in person meetings.


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Contact our office to address your specific accounting, tax or other planning needs. This website is a valuable resource. Material is intended to provide accurate, current and general information.