Welcome to summer! After a brief respite, the staff of The Blau Company, Ltd. is back full speed ahead! Here is some staff news, and tax tips and tricks for your benefit!
June 15 2nd Quarter Estimated Tax Payments due
June 24-27 Aaron & Denise out-of-office (continuing education)
June 30 Foreign Bank Account Reporting forms due
The More things change … the more they change …
After analysis of the tax season, and feedback from both clients and staff, we are making a few changes to processes, procedures, and policies. Here are a few of the coming changes:
Clients who have used e-filing have experienced significant difficulty with our current client portal. Portals are an industry standard for the protection of client data and for prevention of identity theft. We have chosen to utilize the ‘Office Tools Portal’ going forward. This service better integrates with our client database and, we believe, will be much easier for clients to use. All clients will receive a dedicated login and temporary password you can change for your protection.
Information will be retained in a dedicated folder for your use for 30 days. We do have an option to retain information for up to a year, and may modify our service based on client feedback.
Gilbert Office – New Address
Three years ago, we decided to open a satellite office in Gilbert. One of the many reasons we did so is due to the lack of ‘firms’ within the Gilbert area. We wanted to provide a ‘firm-level’ resource for businesses in the southeast valley. We are very pleased with the response we have received, and look forward to continuing our presence.
Our address, however, will be changing. As of July 1, we will be utilizing a collaborative workspace provided by EZSpaces. Our new address will be 1530 E. Williams Field Road, Gilbert 85295. Office hours will continue to be kept on Wednesdays, with appointments in the morning or afternoon available upon request.
We are proud to support Gilbert Chamber of Commerce member John Mahon in the creation of a quality co-working space in the southeast valley. If you know of any friends, family, or small businesses in need of services, please refer them using the link at the bottom of this e-mail!
Ranking Arizona – We Need your Support!!!
Last year, our clients and strategic partners came out strong and voted for The Blau Company, Ltd. in Ranking Arizona’s annual survey. We are proud to have been named the #2 Small CPA Firm in the State of Arizona. Due to rules changes, this year’s voting is more important than ever!!!
To vote, follow these easy steps:
1) Click THIS LINK
2) Pick a Category (Finance and Professional)
3) Scroll to the bottom of the list (It is alphabetical – look for “THE BLAU COMPANY”
4) Click VOTE! (They do ask for registration, so feel free to use any e-mail you desire to use. They do state they do not sell your information)
5) REPEAT!!! The old rules allowed voting once a quarter. The new rules allow ONCE PER HOUR!
We continue to listen to our clients and respond to your reviews and requests. We feel fortunate to maintain a 5 star rating, and a 97.3% client satisfaction score. We look forward to continuing to serve you for many years!
By Law, the Department is not Bound by my Verbal Advice
The Tax Court held that, though the taxpayer had read the appropriate IRS publication and followed rules stated therein, the taxpayer still owed an accuracy related penalty on tax which was due to a disallowed transaction resulting from following the IRS’ own publication.
IRS & the Taxation of Virtual Currencies
The IRS announced that use of virtual currency will be treated as the sale or exchange of property. The IRS has indicated that 1099s should be issued for payments, and that vendors are subject to backup withholding rules if identifying information is not provided.