REDW | January 10, 2019
The IRS has redesigned the 2018 Form 1040, the U.S. Individual Income Tax Return. The new form will replace not only the current Form 1040, but also Forms 1040A and 1040EZ. Find out more about the updates to the form and what Schedules you may need to file this year, based on your circumstances. Read more. Read More
James Ortiz | December 19, 2018
In the beginning of what may become a national rollout of the landmark South Dakota v. Wayfair Supreme Court decision from this past June, the state of California Department of Tax and Fee Administration (CDTFA) has announced its intention to use the Wayfair thresholds beginning April 1, 2019. “We know the legislature is also looking closely at this issue and we look forward to working with them as we proceed,” said Nick Maduros, CDTFA Director.
Starting April 1, out-of-state retailers selling above certain economic thresholds into California will be required to collect California use taxes on their sales into California. Read more. Read More
REDW | December 12, 2018
Nearly one year after the Tax Cuts and Jobs Act (TCJA), tax reform is still making headlines. We continue to learn more about its broad implications. Whether your previous tax filing posture was straightforward or complex, you will be impacted by the myriad of changes to the tax code.
Now more than ever, it is imperative to thoughtfully consider year-end tax planning opportunities, ensuring you are taking advantage of new tax strategies, staying compliant with new regulations and considering structures to help minimize taxes for future years.
Two Tax Letters from REDW are intended to assist you in that effort. Read more. Read More
Cayla Anderson | December 10, 2018
Are you considering starting a group practice or making changes to the compensation arrangements in your existing documents? In this article, we outline the top five considerations in designing a successful profit-based compensation arrangement. Read more. Read More
REDW | December 4, 2018
Cyberattacks are increasing in sophistication and magnitude of impact across all industries globally. According to a recent report issued by the U.S. Security Exchange Commission (SEC) the average cost of a data breach is $7.5 Million and is continually increasing in value year over year.
While all organizations are potential targets of cyberattacks, the industries which possess the most valuable data are the biggest targets including: financial services, healthcare, government, automotive, manufacturing, and retail. All organizations possess valuable information assets, which may include intellectual property, financial payment information, client information, supply chain partners’ information, personally identifiable information (PII), protected health information (PHI), and/or payment card information (PCI). Read more. Read More
REDW | December 3, 2018
In 2019, the Arizona Department of Revenue (ADOR) will be taking another step in its ongoing drive to provide enhanced customer service through electronic filing and paying.
E-filing and paying is more secure and faster for taxpayers and critical for ADOR to deliver a more results-driven, customer-focused management system that produces enhanced services for Arizonans. Increasing electronic payments frees up additional ADOR resources to process tax returns and payments of all types much faster. It also further strengthens tax fraud prevention measures and enhances the taxpayer experience.
Most importantly for taxpayers, electronic filing and paying saves money. Read more. Read More
Mike Chelius | November 28, 2018
The sweeping reform Congress pushed through to the federal tax law began taking effect mostly in 2018. Among the many significant changes made were changes to the estate and gift tax law.
The crux of the change is that... Read more. Read More
Daniel Foley | November 15, 2018
The Tax Cuts and Jobs Act of 2017 eliminated the deduction for business entertainment expenses. What wasn’t as clear was the fate of business meal deductions associated with that entertainment. Now, in Notice 2018-76, the IRS has weighed in with guidance that preserves business deductions for meals incurred in connection with entertainment activities—as long as the meals meet certain requirements. Read more. Read More
Laura Hall | November 5, 2018
Once upon a time, in a galaxy far, far away, people (mainly men) worked for one company their entire professional career, saved for their retirement, retired at age 65, received a gold watch and a pension, and then did not live very long after that. Does that sound familiar to you? It was certainly the story for my father and both of my grandfathers.
Oh, how times have changed. Read more. Read More
Daniel Yu | October 12, 2018
In the first two week of October 2018, we have seen a fairly rapid decline in market values. At the time of this writing, the S&P 500 has declined about 6.2% during the month of October with developed international equities performing in a similar fashion and emerging market equities performing worse. Ostensibly, it is valuations, rising interest rates and trade tariffs that are to blame. We added “déjà vu all over again” to the title, because we were in a similar situation as our February 2018 newsletter. Read more. Read More