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Aaron Blau, EA, CPA

About Aaron Blau, EA, CPA

Aaron is a native to Tempe, Arizona. Aaron followed his father’s footsteps and fell in love with accounting and the study of taxation. Graduating from Arizona State University with a Bachelor of Science in Business Management with emphases on Small Business and Entrepreneurship (Class of 2001), he uses his education to help small business owners better understand their financial and tax picture. Aaron is one of the youngest applicants to pass the Special Enrollment exam, administered by the U.S. Treasury Department, and received his license to practice as a Certified Public Accountant in the state of Arizona. Aaron, having completed a three year course of study, is also a Fellow of the prestigious National Tax Practice Institute.

Tax Implications of Divorce

I'm writing to provide you with information that could be helpful for individuals facing a divorce or legal separation. Unfortunately, in addition to the difficult personal issues the process entails, several tax concerns need to be addressed to ensure that tax costs are kept to a minimum and that important tax-related decisions are properly made. Please call me if I can be of assistance regarding any of these matters. Support/alimony provisions. Where one spouse is to be making support payments to the other upon divorce or separation, the deductibility of the payments by the payor and their taxability to the [...]

2019-12-03T14:50:38-07:00May 1st, 2020|Personal Tax|Comments Off on Tax Implications of Divorce
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Economic Impact Payments under the CARES Act.

You've probably heard that IRS will be making millions of “economic impact payments” (also called “recovery rebates”) in the coming months to help people stay afloat during this time of economic uncertainty related to the COVID-19 crisis. Here's what you need to know about this program. Amount of payment. IRS has begun making payments of up to $1,200 to eligible taxpayers or up to $2,400 to married couples filing joint returns. Parents will get an additional $500 for each dependent child under age 17. Thus, the payment for a married couple with two children under 17 will be $3,400. Who is eligible. U.S. [...]

2020-04-20T13:53:51-07:00April 20th, 2020|Personal Tax|Comments Off on Economic Impact Payments under the CARES Act.
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Info: Tax Relief provided by the CARES Act

We hope that you are keeping yourself, your loved ones, and your community safe from COVID-19 (commonly referred to as the Coronavirus). Along with those paramount health concerns, you may be wondering about some of the recent tax changes meant to help everyone coping with the Coronavirus fallout. In addition to the summary of IRS actions and earlier-enacted federal tax legislation that I previously sent you, I now want to update you on the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Congress’s gigantic economic stimulus package that the President signed into law on March 27, [...]

2020-04-02T11:37:17-07:00April 1st, 2020|Business Advisory, Business Tax, General Consulting, Personal Tax|Comments Off on Info: Tax Relief provided by the CARES Act
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Paycheck Protection Program (PPP) Information.

The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone. The loan amounts will be forgiven as long as: The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made; and Employee and compensation levels are maintained. Payroll costs are capped at $100,000 on an annualized basis for each employee. Due to likely high subscription, it is anticipated that not more [...]

2020-04-14T22:18:30-07:00April 1st, 2020|Business Tax, General Consulting|Comments Off on Paycheck Protection Program (PPP) Information.
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Arizona Tax Deadlines Extended

The Arizona Department of Revenue has announced the deadline for filing AND paying state income taxes has been moved from April 15, 2020 to July 15, 2020.  Taxpayers submitting returns or paying after the original April 15 deadline will not be assessed late filing or late payment penalties.  Please note, the News Release is silent as to interest, which is written into law, and requires an act of legislation to modify. We believe interest will still apply.

2020-03-24T10:37:08-07:00March 24th, 2020|Personal Tax|Comments Off on Arizona Tax Deadlines Extended
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News: Tax Deadline Moved to July 15

You may be reading a lot in the media about tax changes, but there is a lot of misinformation out there, so I wanted to give you an update: Filing Delay. You have until July 15, 2020 to file your Form 1040 or Form 1120 for C corporations. You can request an additional extension before July 15, 2020 until October 15, 2020. If you have to report foreign assets or income, we still need to file or extend by April 15, 2020. IRA contributions for 2019 are still due by April 15, 2020. I strongly recommend preparing the return before [...]

2020-03-24T09:52:28-07:00March 24th, 2020|Personal Tax|Comments Off on News: Tax Deadline Moved to July 15
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Quickbooks Desktop Software

If you are using a Quickbooks Desktop version earlier than 2017, you will be required to upgrade to a more current version before next tax season. Quickbooks no longer provides technical support to any version prior to 2017. Additionally, our office computers will be upgraded to Windows 10 later this summer.  QuickBooks Desktop is not guaranteed to run any version prior to the 2017 version. As QuickBooks ProAdvisors, The Blau Company, Ltd's clients are provided with wholesale pricing.  To download an order form, please visit our website, and click on "2019 Quickbooks Order Form" or contact our Intuit representative Eden Bohanon (eden_bohanon@intuit.com or 775-834-0028). [...]

2019-06-24T11:23:07-07:00June 24th, 2019|Accounting, Business Advisory|Comments Off on Quickbooks Desktop Software
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Taxpayer First Act & Introduced Legislation

Taxpayer First Act Last week, Congress passed the Taxpayer First Act, a tax reform bill that has several provisions championed by the National Association of Enrolled Agents. The Act establishes an Independent Office of Appeals to serve as an independent judiciary for administrative actions (examination and collection determinations) by the IRS. While an Office of Appeals exists within the current IRS structure, it is not a completely independent structure. The Office of the Taxpayer Advocate is strengthened as well. The Act also prescribes changes to the customer service strategy, allows for exceptions from user fees for low-income taxpayers, and changes [...]

2019-06-24T11:19:45-07:00June 21st, 2019|Business Tax, Personal Tax|Comments Off on Taxpayer First Act & Introduced Legislation
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Lender Letters

Several lenders are again asking for CPA involvement in the loan approval process.  Please be advised that there is a fee involved for this non-tax related service. The AICPA prohibits any forward-looking statement related to the use of funds and its affect on a small business's ability to continue as a going concern.  Any information included in a letter prepared by this office will be to confirm that a return was in fact prepared from this office or to confirm publicly available information (i.e. incorporation date & location, shareholder name) If you are in need of a lender letter for a [...]

2019-06-24T11:23:56-07:00June 20th, 2019|Our Office|Comments Off on Lender Letters
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Effects of Tax Cuts and Jobs Act

The Congressional Research Service, a division of the Library of Congress, has released a preliminary report detailing the effects of the 2017 Tax Cuts and Jobs Act, which lowered marginal tax rates and made other modifications to the tax code for the 2018 tax year and beyond. The service reports that there was no discernible change in federal gross domestic product (GDP) and that "the growth effects tend to show a relatively small (if any) first-year effect on the economy." Neither GDP nor wages saw a statistically significant change. The Congressional Budget Office initially estimated that total revenues would fall [...]

2019-06-24T11:22:31-07:00May 22nd, 2019|Business Tax, Personal Tax|Comments Off on Effects of Tax Cuts and Jobs Act
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