Aaron Blau, EA, CPA, Author at Blau Company Accounting & Tax Preparation

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 provisions in the American Rescue Plan Act of 2021

The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, is the latest major legislation that provides economic relief and stimulus, both tax and non-tax, during the Covid-19 pandemic. Below are brief summaries of the key aspects of the tax provisions in ARPA. Provisions Affecting Individuals. Recovery rebate credits (stimulus checks). ARPA provides a third round of nontaxable stimulus checks directly payable to individuals. The payments are structured as refundable tax credits against 2021 taxes but will paid in 2021 (not 2022). The maximum payments are $1,400 per eligible individual ($2,800 for married joint filers) and $1,400 for [...]

Aaron Blau, EA, CPA2021-11-08T08:58:49-07:00November 8th, 2021|Business Tax, Personal Tax|Comments Off

Deductibility of business meals provided by restaurants in 2021 and 2022
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Deductibility of business meals provided by restaurants in 2021 and 2022

Business Tax

Deductibility of business meals provided by restaurants in 2021 and 2022

You've probably heard that the recent stimulus legislation included a provision that removes the 50% limit on deducting business meals provided by restaurants in 2021 and 2022 and makes those meals fully deductible. Here are the details. Congress is allowing a deduction that hasn't been offered in years in order to support local restaurants! In general, the ordinary and necessary food and beverage expenses of operating your business are deductible. However, the deduction is limited to 50% of the otherwise allowable expense. The new legislation adds an exception to the 50% limit for expenses for food or beverages [...]

Aaron Blau, EA, CPA2021-01-06T23:12:41-07:00January 6th, 2021|Business Tax|Comments Off

New law’s tax provisions that affect businesses

The Consolidated Appropriations Act, 2021 (the CAA, 2021), signed into law on December 27, 2020, is a further legislative response to the coronavirus (COVID-19) pandemic. The CAA, 2021 include--along with spending and other non-tax provisions and tax provisions primarily affecting individuals--the numerous business tax provisions briefly summarized below. The provisions are found in two of the several acts included in the CAA, 2021, specifically, (1) the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (the TCDTR) and (2) the COVID-related Tax Relief Act of 2020 (the COVIDTRA). Tax provisions extended. The TCDTR extends the following tax credits without other [...]

Aaron Blau, EA, CPA2021-01-06T23:03:46-07:00January 6th, 2021|Business Advisory, Business Tax|Comments Off

Tax Implications of Divorce
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Tax Implications of Divorce

Personal Tax

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 [...]

Aaron Blau, EA, CPA2019-12-03T14:50:38-07:00May 1st, 2020|Personal Tax|Comments Off

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. [...]

Aaron Blau, EA, CPA2020-04-20T13:53:51-07:00April 20th, 2020|Personal Tax|Comments Off

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, [...]

Aaron Blau, EA, CPA2020-04-02T11:37:17-07:00April 1st, 2020|Business Advisory, Business Tax, General Consulting, Personal Tax|Comments Off

Paycheck Protection Program (PPP) Information.
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Paycheck Protection Program (PPP) Information.

Business Tax, General Consulting

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 [...]

Aaron Blau, EA, CPA2022-01-04T11:42:13-07:00April 1st, 2020|Business Tax, General Consulting|Comments Off

Arizona Tax Deadlines Extended
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Arizona Tax Deadlines Extended

Personal Tax

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.

Aaron Blau, EA, CPA2020-03-24T10:37:08-07:00March 24th, 2020|Personal Tax|Comments Off

News: Tax Deadline Moved to July 15
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News: Tax Deadline Moved to July 15

Personal Tax

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 [...]

Aaron Blau, EA, CPA2020-03-24T09:52:28-07:00March 24th, 2020|Personal Tax|Comments Off

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). [...]

Aaron Blau, EA, CPA2019-06-24T11:23:07-07:00June 24th, 2019|Accounting, Business Advisory|Comments Off

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