Ann Couch

The Corporate Transparency Act

The Corporate Transparency Act CPA services in Phoenix Arizona

PLEASE READ THIS NEWSLETTER IN ITS ENTIRETY.  THERE IS A STRONG LIKELIHOOD IT WILL APPLY TO YOUR SITUATION.   December, 2023 THE CORPORATE TRANSPARENCY ACT On January 15, 2021, a new law was passed by Congress, the “Corporate Transparency Act”  (hereafter referred to as CTA).  It is intended to be a tool against money laundering, […]

Fair Wages and Healthy Families Act

Fair Wages and Healthy Families Act

Proposition 206, passed by Arizona’s legislature in November of 2016, mandates new rules for the issuing and use of paid sick leave for all Arizona employees with the exception of Arizona and Federal government employees. The following points should be considered and implemented: Employees begin accruing sick leave on July 1, 2017, or on their […]

Tax-Related Data Breaches

Tax-Related Data Breaches

The IRS has experienced an increase in fraudulent filing problems.  The Government Accountability Office issued a report in January titled “Identity Theft and Tax Fraud”.   The report states that while the IRS prevented $24.2 billion in fraudulent identity theft refunds in 2013 the IRS actually paid out $5.8 billion that were only realized as fraudulent […]

Loans to Your Small Business

Loans to Your Small Business things to consider when loaning small business money

Loans between owners and the small businesses they own (shareholders of corporations and members of LLC’s) are subject to special scrutiny. If the loans are not documented correctly, the IRS will treat them in ways that may result in unfavorable tax consequences. These loans must meet certain minimum standards that include: There must be a […]

Proper Operation of an LLC

Proper Operation of an LLC CPA Arizona operation of LLC

When the limited liability company first came into existence it was quickly adopted in the legal and financial world. This business entity offered several advantages over the other entities that were available at the time: C corporations, S Corporations, sole proprietorships, general partnerships and limited partnerships. An LLC offered the limited liability protection of a […]