does arizona have an inheritance tax

Does Arizona Have an Inheritance Tax – What You Need to Know

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Does Arizona have an inheritance tax?

No, it doesn’t.

If you inherit money or property in Arizona, you’ll likely owe the state nothing on it.

According to estimates from the Tax Policy Center, a little more than 7,100 estate tax returns are expected to be filed for individuals who died in 2023.

Of those, only around 4,000 estates are projected to owe estate taxes, representing fewer than 0.2% of all estates.

This number is tiny, and it shocks most people, who assume the government takes a big cut.

The space between what people fear and what the law says is where planning pays off.

Master Accounting & Tax Service (MATS) has served for more than 20 years, helping people understand how inheritance and estate taxes work in Arizona. Read more

owe back taxes and can’t pay

Owe Back Taxes and Can’t Pay? IRS Tax Debt Options to Know

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If you owe back taxes and can’t pay, you still have options.

The IRS offers several programs that may help you reduce financial pressure, avoid harsher collection actions, and work toward resolving your tax debt.

Understanding those options early can help you choose the best path and regain control of your finances.

Many people worry that unpaid tax debt will leave them with no way forward.

Yet the IRS collected $117.5 billion in unpaid tax assessments during Fiscal Year 2025, according to the Internal Revenue Service, showing that millions of taxpayers resolve outstanding balances through available collection and payment programs.

If you owe back taxes and can’t pay, ignoring the problem is usually the worst choice.

Filing your return on time, even without full payment, can reduce penalties and open the door to options such as installment agreements, temporary hardship status, or an Offer in Compromise if you qualify. Read more

do I need a lawyer for offer in compromise

Do I Need a Lawyer for an Offer in Compromise, or Can an EA Help?

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Do I need a lawyer for an Offer in Compromise?

Not always. Many taxpayers can work with an Enrolled Agent (EA), while more complex cases involving legal disputes, appeals, or litigation may warrant hiring a lawyer.

Did you know that an Enrolled Agent (EA) has unlimited rights to represent taxpayers before the IRS, according to the Internal Revenue Service?

That means an EA can handle audits, collections, appeals, and Offer in Compromise cases without being a lawyer.

If you’re wondering whether you need a lawyer for an Offer in Compromise, the answer depends on your situation.

Many taxpayers work successfully with an EA because they specialize in IRS tax matters, while cases involving litigation or criminal tax issues usually require a tax attorney.

Choosing the right professional can save time, money, and stress. Read more

who qualifies for offer in compromise

Who Qualifies for an Offer in Compromise? Key IRS Rules

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An Offer in Compromise gives certain taxpayers the opportunity to resolve outstanding IRS debt for an amount below the original balance when their financial circumstances make full repayment unrealistic.

Who qualifies for an offer in compromise is determined after the IRS reviews your overall financial picture, including available resources, ongoing household costs, and what you can reasonably contribute toward your outstanding balance.

According to the Internal Revenue Service, taxpayers may qualify to settle their tax debt for less than the full amount owed if paying in full is not realistic based on their financial situation.

Instead of focusing on the amount you owe, the IRS examines your overall financial position to decide whether your proposed settlement is reasonable.

A growing tax bill can feel overwhelming.

However, understanding the IRS rules can help you determine whether an Offer in Compromise is a realistic option. Read more

does arizona have an estate tax

Does Arizona Have an Estate Tax? What Families Need to Know

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Does Arizona have an estate tax?

No. Arizona does not currently impose a state estate tax, and it also does not have an inheritance tax.

That means most Arizona families do not need to worry about state-level taxes on an estate after a loved one passes away, though federal estate tax rules may still apply to very large estates.

Have you ever wondered whether your family’s assets could face unexpected taxes after you pass them on to the next generation?

The answer depends on both federal rules and Arizona tax laws, which treat estates differently than some other states. Read more

sales tax in las cruces new mexico

Sales Tax in Las Cruces, New Mexico: Rates and Business Considerations

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Businesses dealing with sales tax in Las Cruces, New Mexico need to understand that the state uses a Gross Receipts Tax (GRT) system rather than a traditional sales tax.

The amount owed can vary based on state and local rates, and many services that are exempt from sales tax in other states may be taxable in New Mexico.

Are you charging customers the correct tax rate and reporting it properly?

The answer depends on where transactions occur, what products or services are sold, and how New Mexico’s unique tax rules apply to your business operations. Read more

non profit bookkeeping

Non-Profit Bookkeeping – 7 Best Practices for Charities and Organizations

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Strong non profit bookkeeping helps charities maintain accurate records, track donations, manage expenses, and meet reporting requirements.

Organizations that separate finances, reconcile accounts regularly, categorize expenses correctly, and review financial reports consistently are often better equipped to protect their financial health and maintain stakeholder trust.

According to Giving USA, charitable giving in the United States reached a record $592.5 billion in 2024.

Are you confident that every donation, grant, and expense in your organization is being tracked correctly?

Effective bookkeeping creates a clear financial picture that supports accountability and informed decision-making. Read more

year-round tax support services

Benefits of Year-Round Tax Support Services for Your Business

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Year-round tax support services give businesses continuous access to planning, compliance, and financial guidance across the entire fiscal year, not just at filing time.

This approach helps identify deductions earlier, keeps records consistently accurate, and removes the pressure of compressing a year’s worth of financial activity into a few stressful weeks.

For businesses weighing decisions about hiring, equipment purchases, or growth, consistent tax support means those choices get made with the full financial picture already in view.

According to Tax Foundation research citing IRS estimates, Americans spend more than 7.9 billion hours complying with the federal tax code each year, at a total cost of approximately $546 billion, nearly 2 percent of GDP.

Behind every hour in that number is a business owner pulled away from operations, clients, and growth.

The businesses that consistently reduce that burden share one habit: they plan all year long. Read more

las cruces bookkeeping checklist

Las Cruces Bookkeeping Checklist: Monthly, Quarterly, and Annual Tasks

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Keeping up with a Las Cruces bookkeeping checklist helps businesses stay organized, avoid reporting mistakes, improve cash flow visibility, and prepare for tax deadlines throughout the year.

Consistent bookkeeping creates a clearer picture of business performance and reduces the stress that often builds during tax season.

Financial organization remains a challenge for many companies, with studies showing that around half of small businesses in the U.S. have faced financial difficulties linked to limited financial literacy or poor financial management practices.

Accurate recordkeeping, timely reporting, and structured small business bookkeeping can help reduce those risks significantly.

Here at Master Accounting and Tax Service, we help businesses stay on track with professional Las Cruces accounting, bookkeeping, payroll, and tax services backed by more than 20 years of experience serving businesses across New Mexico and Arizona. Read more

average cost of tax preparation

Average Cost of Tax Preparation in Arizona vs. National Averages

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The average cost of tax preparation in Arizona is generally on par with the rest of the country.

You may see higher prices in Phoenix or when dealing with specialized firms.

Filing your taxes early allows you to get your refund sooner, fix any errors, and protect against tax-related identity theft.

However, many people worry about what it’ll cost to file.

Knowing the costs helps you prepare mentally and financially.

Here’s what you need to know about tax preparation services in Arizona. Read more