It’s That Time of Year AGAIN!

It’s that time of the year AGAIN!  The end of the year is only a few months away and to reduce your stress level during this busy time of year, below are several items to start checking off of your list:

If you are an S-Corporation Shareholder, then REMEMBER to process your payroll add-backs:

When does my 3rd party payroll provider need to have this information by so that I am not charged extra for a special payroll? 


New Arizona Tax Credits for Corporations

Starting in 2015 there are two new credits that both C and S Corporations can take advantage of for School Tuition Organizations (STO). Both credits require preapproval by the Arizona Department of Revenue (ADOR) and total contributions statewide for each of these credits are capped at a maximum amount by the state. Overall both of these credits are used to provide scholarships that assist students from preschool to 12th grade with disabilities.

Both of these credits have already reached their maximums for the year ended in June 2016.


Form 1099: It’s never too early to gear up for year-end

The end of every year brings the beginning of a new one.  From an accounting perspective, the beginning of the new year brings many reporting deadlines…specifically, Form 1099.  In order to properly prepare a 1099, two things must be provided: a completed Form W-9 from the vendor and the amount paid to them.

The W-9 provides the most crucial piece of information, which is whether or not a 1099 will need to be prepared for any given vendor.