6 Keys to Successful Succession Planning for Phoenix Corporations
We have taken this information from a 2014 report on talent development and succession planning published by Stanford Business School and the Institute of Executive Development. According to the report, here are the six steps your organization needs to take: 1....
Who Has to Pay Sales & Use Tax in Arizona?
A business is responsible for collecting and remitting all applicable state taxes if it has a physical presence within the state of Arizona, such as:A physical storeA warehouseAn officeA sales representativeAdditionally, an out-of-state seller is required to collect...
Typical Estate Planning Tasks for Phoenix Residents
You need estate planning to ensure your assets go to the right people with the least amount of delay, stress, and expense. Get in touch with Singer Tax & Accounting, PC, PC for all your estate planning needs. Our accounting firm can help you with major estate planning...
Benefit From Effective Gift Planning Today
There are a ton of benefits to properly conducting gift planning. If you intend on making a gift to a loved one that has a significant monetary value, you should most certainly speak with an experience tax professional to ensure you don't have to pay anymore than you...
Arizona Sales Tax & What it Means to You
Retailers in the state of Arizona have to collect a sales tax of 5.6 percent on all goods and services sold. However, this is only the beginning, as the issue of sales tax is notoriously complex and can create headaches for even the most conscientious business owners....
Tax-Efficient Gift Options for Arizona Residents
After a suitable organization has been picked, we will work to structure tax planning strategies that are tax-efficient and then establish a trust, foundation, or fund. Once the plan has been implemented, we will continue working with you in order to ensure the...
Issues & Barriers to a Successful Succession Plan
For those who run a family business in particular, retirement doesn’t just mean not going into work anymore. As well as deciding who continues running the business, you also have to ensure you have enough money to enjoy a prosperous retirement. A successful succession...
Jail Time for Failure to Pay Payroll Taxes
Figures from 2010 show that 83 percent of personal tax liability convictions forced the offender to serve jail time, and the average sentence was two years. It is also important to note that these figures were all-time highs, which suggests the IRS is becoming even...
Severe Penalties for Failure to Make Payroll Tax Payments
The IRS can hit you with a 100 percent penalty, known as a Trust Fund Recovery Assessment, if you are a responsible person. While courts will focus on whether you have knowledge of non-payment of taxes, you don’t need to have performed the tax withholdings to be...
What Are the Due Dates for Employment Taxes Owed?
Employers must report wages, tips, and other forms of compensation paid to employees throughout the year. This is done by filing the correct forms. There are several major dates on the calendar when it comes to employers filing taxes:Jan. 31: Deadline for filing Forms...