Archive for category: Tax Preparation

The CPA vs tax preparer decision depends on what you need beyond simply filing your taxes.

A tax preparer may be enough for a straightforward return, while a CPA can provide broader tax, accounting, and financial services.

If you have a business, complex investments, multiple income sources, or significant financial changes, a CPA may be the better fit.

The IRS reports that over 74.6 million individual tax returns were e-filed through tax professionals by May 1, 2026.

That scale shows how much taxpayers rely on professional help, but not every situation calls for the same expertise.

The right choice depends on your financial complexity and whether you need more than tax return preparation.

Knowing what each professional offers helps you avoid unnecessary services and find expertise suited to your situation. Read more

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

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

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

How far back can you amend taxes?

In Arizona, you have four years from your original filing date to amend a state return and claim a refund; slightly more generous than the federal three-year window.

Federal amendments follow a three-year-from-filing or two-year-from-payment rule, whichever is later.

The IRS receives over 3 million amended returns each year, according to its annual Data Book, proof that filing errors are far more common than most people assume.

A missed deduction or an overlooked credit can cost you more than you realize.

This guide covers the key deadlines, forms, and Arizona-specific rules so you can act with confidence before any window closes. Read more