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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!

THE IRS & YOUR TAXES

  • 2022 Standard Mileage rates released:
    • 58.5 cents per mile driven for business use, up 2.5 cents from the rate for 2021,
    • 18 cents per mile driven for medical, or moving purposes for qualified active-duty members of the Armed Forces, up 2 cents from the rate for 2021 and
    • 14 cents per mile driven in service of charitable organizations; the rate is set by statute and remains unchanged from 2021.
  • NEW for 2021 - S-Corp and LLC Owners will have a new Form 7203 to provide stock and debt basis information
    • If you receive K-1s from these entities be sure to have this provided to you, and expect delays from these entities to provide these with your K-1 for 2021
  • NEW for 2021 - Dependent care credit phaseout dramatically increased to over $400,000 AND the credit is refundable in 2021, up to $8,000 for one dependent or up to $16,000 for more than one dependent
  • Check your account
    • To help ensure your records match what is being reported to the IRS you should review your taxpayer account
    • Married individuals will have their separate accounts even if they file a joint return

ARIZONA & YOUR TAXES

  • Reminder to keep your records a little longer - Arizona has a 4 year statute of limitations (the IRS is 3 years)
  • NEW for 2021 - 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)
  • 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

Updated 01/21/2022



FRONT DESK AND OFFICE MEETINGS

  • In person office meetings are requested by appointment only.
  • Front desk hours are 8:30 to 5:00 PM, Monday thru Friday
  • At this time, masks or vaccination records are not required. Masks are not provided. Please advise if your comfort is for us to wear a mask 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.