Tax

In addition to being current on tax laws and regulations, we strive to be proactive in identifying tax-planning opportunities.

Walker & Armstrong Tax Professionals

ARIZONA INCOME TAX CREDITS

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Arizona taxpayers can directly offset a portion of their Arizona income taxes by making charitable contributions to four types of qualifying entities: Private School Tuition Organizations ... Qualified Charitable Organizations ... Qualified Foster Care Organizations ... and Public Schools (district and charter)


For more information about 2022 Arizona tax credits and to donate directly to qualifying organizations of your choice, click on the button below.
Arizona Tax Credits

Tax Services for Families and Individuals

Our trained tax professionals are working for you to identify allowable deductions and credits. Our objective is to provide you with the most advantageous tax treatment while complying with all applicable laws and regulations. In addition, we can assist with advising on tax-planning matters such as the timing of deductions, income projections, bankruptcy, divorce and other pertinent matters.

Practical Tax Articles

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Year-End Income Tax Planning Tips for Individuals

By Walker & Armstrong LLP • 28 Nov, 2023
As the end of the year approaches, now is a good time to consider strategies that might help lower your 2023 tax bill.
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Year-End Income Tax Planning Tips for Businesses, Owners

By Walker & Armstrong LLP • 28 Nov, 2023
As the end of the year approaches, now is a good time to consider some planning moves that may help lower your tax bill for 2023.
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Good News for Pass-Through Entities: IRS Provides Domestic Filing Exception for Schedules K-2, K3

By Walker & Armstrong LLP • 09 Jan, 2023
The new exception allows eligible partnerships and S corporations to avoid the headaches generally associated with meeting the K-2 and K-3 reporting requirements.
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Inflation Reduction Act: Spending and Revenue Highlights

By Walker & Armstrong LLP • 29 Aug, 2022
Most of the Act’s outlays are for green energy incentives, mostly in the form of tax credits. In some cases, the credits are extensions and expansions of current credits, such as for electric vehicles or residential energy property
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Arizona Tax Credits Offer Choices for the Use of Your Tax Dollars

By Walker & Armstrong LLP • 01 Dec, 2021
Arizona taxpayers can directly offset a portion of their Arizona income taxes by making charitable contributions to four types of qualifying entities: private school tuition organizations, qualified charitable organizations, qualified foster care organizations, and public schools (district and charter).
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Employee Retention Tax Credit Ends Retroactive to September 30

By Walker & Armstrong LLP • 15 Nov, 2021
The ERTC expired retroactive to September 30, from December 31. If you claimed the credit for wages paid in October and November and reduced your tax deposits accordingly, those amounts must now be deposited.
IRS building in Washington, D.C.

What You Should (and Should Not) Do If You Receive Mail from the IRS or State Tax Agencies

By Walker & Armstrong LLP • 23 Aug, 2021
Most letters and notices from tax agencies are about tax returns or tax accounts, pertain to a specific issue, and include specific instructions on what to do.

IRS Expands "Identity Protection PIN" to Taxpayers Nationwide

By Walker & Armstrong LLP • 11 Jan, 2021
As part of its ongoing security measures, the Internal Revenue Service has expanded the IRS Identity Protection PIN (IP PIN) Opt-In Program to all taxpayers who can properly verify their identities. The IRS urges taxpayers to opt in to the IP PIN program in 2021, to take proactive measures against identity theft.
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Storing Tax Records: How Long Is Long Enough?

By Walker & Armstrong LLP • 14 Aug, 2014
The three-year rule applies to many business and personal tax records, but in some cases records must be retained for up to six years or longer.

Business Taxation

In addition to tax preparation services, our tax professionals are available to provide tax advice to closely held companies on matters such as the following:

  • Business formation
  • Entity selection
  • Government agency audits
  • Multi-state tax matters
  • Lease-versus-buy analysis
  • Deferred compensation matters
  • Fringe benefit packages
  • Mergers and acquisitions

We are always available to answer your routine and complex tax questions.

Qualified Facility Tax Credit

Walker & Armstrong helps companies receive the Qualified Facility tax credit, an Arizona refundable credit that promotes the location and expansion of manufacturing facilities, including manufacturing-related research and development or headquarters facilities.

This valuable state income tax credit is equal to the least of the following:

  • 10% of the qualifying capital investment, or
  • $20,000 per net new job at the facility, or
  • $30 million per taxpayer per year.

After you have completed the pre-approval application process:

  • You will enter into a written managed review agreement with the Arizona Commerce Authority (ACA).
  • Walker & Armstrong's professionals are ACA-approved to perform the written managed review.
  • After we submit our report to the ACA, you can submit an Application for Post-Approval, which paves the way for the tax credit.
Letter from Economic Incentives Advisory Group

Managed Review Testimonial - Economic Incentives Advisory Group


"Walker & Armstrong ... has been exceptional in its professionalism, technical knowledge, communication skills, and response time. ... As we manage the day-to-day requirements of the program for our clients, we know that we can count on Walker & Armstrong to perform the Managed Review portion of the process efficiently and effectively and with complete respect to our clients and their schedules."
For more information about the Qualified Facility tax credit, visit the Arizona Commerce Authority website.

Taxation of Not-for-Profit Entities

The complexities of the tax reporting laws related to not-for-profit entities continue to increase as constituents demand greater transparency in reporting.

As the Form 990 is a public document, we recognize the importance of accuracy and full disclosure and strive to provide the highest quality in this regard. In addition, we understand the complexities surrounding unrelated business income tax (UBIT) calculations and reporting.

See:

Kimberly Ann Bolligar, CPA

UBIT: A Walker & Armstrong Primer for Not-for-Profit Entities

By Kimberly Ann Bolligar, CPA • 21 Feb, 2013
Income obtained from activities that are outside your organization’s tax-exempt purpose may be subject to unrelated business income tax (UBIT).

Taxation of Estates and Trusts

Our tax professionals have an in-depth knowledge of tax laws applicable to estates and trusts and can assist you in navigating through the maze of compliance and reporting requirements.

The "Walker & Armstrong Difference"

We do not simply help you comply. We help you succeed.

Walker & Armstrong was established in 1971 on a simple premise: To help our clients enhance their success and achieve their goals. The importance of delivering uncompromising client service – as you define it – and exceeding your expectations is instilled at all levels of our firm, and it is fundamental to our core values of:

  • integrity
  • accountability
  • positive attitude
  • respect.

The “Walker & Armstrong Difference” is evident to the hundreds of business owners with whom we have served as partners in planning and progress.

We Are Easy to Work With

You will appreciate our experience with situations like yours, our consistency in staffing from year to year, and our emphasis on careful planning, hands-on partner involvement and effective communication. Our ability to anticipate the course of your engagement protects you from unwanted surprises and unnecessary disruptions to your routine.

We Honor Our Commitments ... and Help You Honor Yours

We understand the frustration and risk stemming from missed deadlines and broken promises. That is why, at every step in the process, from staffing your engagement and calendaring our target dates to delivering the finished product, our focus is on meeting your expectations for timeliness, accuracy and thoroughness.

We Look Out for Your Interests

In addition to offering techni­cal expertise, research tools and other resources that rival the qualities of a national firm, we are alert to emerging regulatory requirements and opportunities for administrative and operational improvements.

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