David Oase, CPA, 7802 E Escalante Road, Tucson, AZ (2026)

07/13/2026

𝗔 𝗻𝗲𝘄 𝗻𝗮𝗺𝗲. 𝗧𝗵𝗲 𝘀𝗮𝗺𝗲 𝗽𝗲𝗼𝗽𝗹𝗲. 𝗧𝗵𝗲 𝘀𝗮𝗺𝗲 𝗰𝗼𝗺𝗺𝗶𝘁𝗺𝗲𝗻𝘁.

We're excited to share that 𝘋𝘢𝘷𝘪𝘥 𝘖𝘢𝘴𝘦, 𝘊𝘗𝘈 is becoming 𝗥𝗲𝗱 𝗔𝗹𝗱𝗲𝗿 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁𝘀.

While our name is changing, the heart of our firm isn't. We're still the same team, guided by the same values—building trusted relationships, providing thoughtful financial guidance, and helping our clients grow with confidence.

The name 𝗥𝗲𝗱 𝗔𝗹𝗱𝗲𝗿 reflects what we've always believed: lasting success starts with strong roots, meaningful partnerships, and a commitment to helping others thrive.

Thank you for your trust and support over the years. We're honored to continue this journey with you as 𝗥𝗲𝗱 𝗔𝗹𝗱𝗲𝗿 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁𝘀, from this month onwards.

Read the story behind our new name: https://tucsoncpa.com/why-were-becoming-red-alder/

07/10/2026

𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗧𝗮𝘅 𝗧𝗲𝗿𝗺𝘀: 𝗣𝗮𝘀𝘀-𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝗘𝗻𝘁𝗶𝘁𝗶𝗲𝘀 - 𝗪𝗵𝗮𝘁 𝗘𝘃𝗲𝗿𝘆𝗼𝗻𝗲 𝗦𝗵𝗼𝘂𝗹𝗱 𝗞𝗻𝗼𝘄

Small business owners have a number of options on how to organize their business for tax purposes. And if you sell items on eBay or Esty, drive for Uber, or offer your services as a writer or programmer, you are probably considered a flow-through entity in the eyes of the IRS. Frankly, so much of individual tax is paid by these small businesses, it is important for all taxpayers to understand this tax code logic.

𝗛𝗼𝘄 𝗽𝗮𝘀𝘀-𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝗲𝗻𝘁𝗶𝘁𝗶𝗲𝘀 𝘄𝗼𝗿𝗸

Pass-through entities do not pay taxes with a separate business tax return. Instead, the business's taxable income is reported on the owner's individual tax return. A sole proprietor does this on their Schedule C, while other entities like partnerships and S corporations send owners their respective share of profits via a K-1 tax form.

Generally, business owners prefer pass-through entities because:

The business income is taxed once instead of twice as in the case of C corporations.
The business format provides owners a level of legal protection that is not available by doing business as a sole proprietor.

𝗪𝗵𝗮𝘁 𝘆𝗼𝘂 𝘀𝗵𝗼𝘂𝗹𝗱 𝗸𝗻𝗼𝘄

- Individual tax rates. Changes in individual tax rates have an impact on the amount of tax paid by all small businesses that are organized as pass-through entities.
20 percent QBI deduction. A 20 percent qualified business income deduction is available for pass-through entities and sole proprietorships. There are limitations and other complexities involved, but bottom line is many small business owners will see a tax break due to this deduction.
- Owing the tax and having money to pay it can be a problem. Small pass-through business owners must pay income tax on their share of business profits. However, the business entity is NOT required to distribute cash from company to help pay the tax. So pass-through owners could see a tax bill without money to pay the tax.
- Concerns for minority shareholders. Minority shareholders in pass-through entities are...Read more: https://tips.resourcesforclients.com/EcgyfLzfgSUz

www.tucsoncpa.com

07/05/2026

𝐅𝐫𝐞𝐞𝐝𝐨𝐦, 𝐟𝐢𝐫𝐞𝐰𝐨𝐫𝐤𝐬, 𝐚𝐧𝐝 𝐟𝐚𝐧𝐭𝐚𝐬𝐭𝐢𝐜 𝐜𝐥𝐢𝐞𝐧𝐭𝐬—𝐚 𝐟𝐞𝐬𝐭𝐢𝐯𝐞 𝐜𝐨𝐦𝐛𝐢𝐧𝐚𝐭𝐢𝐨𝐧 𝐭𝐡𝐢𝐬 𝟒𝐭𝐡 𝐨𝐟 𝐉𝐮𝐥𝐲! 🎇✨🇺🇸

Wishing you a wonderful and meaningful holiday with your families and colleagues!🌟

07/03/2026

𝗧𝗼𝘀𝘀 𝗧𝗵𝗶𝘀. 𝗡𝗼𝘁 𝗧𝗵𝗮𝘁. 𝟮𝟬𝟮𝟱 𝗘𝗱𝗶𝘁𝗶𝗼𝗻: 𝙔𝙤𝙪𝙧 𝙂𝙪𝙞𝙙𝙚 𝙏𝙤 𝙋𝙤𝙨𝙩 𝙏𝙖𝙭-𝙛𝙞𝙡𝙞𝙣𝙜 𝙍𝙚𝙘𝙤𝙧𝙙 𝙍𝙚𝙩𝙚𝙣𝙩𝙞𝙤𝙣

Tax season is over and your focus is on enjoying the summer. But before you close that tax file, make final review to ensure your records are accessible should you ever need them. If the IRS or state revenue department selects your return for review. Here are some tips:

𝗞𝗲𝗲𝗽 𝗮 𝗰𝗼𝗽𝘆 𝗼𝗳 𝘆𝗼𝘂𝗿 𝗙𝗼𝗿𝗺 𝟭𝟬𝟰𝟬 𝗶𝗻𝗱𝗲𝗳𝗶𝗻𝗶𝘁𝗲𝗹𝘆. Do not toss or destroy any of your 1040s. You'll need them to correct historic Social Security earnings statements or to prove you filed tax return.

𝗦𝘂𝗽𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗱𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝘀 𝗻𝗲𝗲𝗱 𝘁𝗼 𝗯𝗲 𝗿𝗲𝘁𝗮𝗶𝗻𝗲𝗱 𝗳𝗼𝗿 𝘁𝗵𝗿𝗲𝗲 𝘆𝗲𝗮𝗿𝘀. Records to support your tax return (eg. W-2s, 1099s, K-1s, receipts, canceled checks, bank statements or mileage logs) should be kept for minimum of 3 years from later of tax filing due date, the date you filed your taxes, or date you paid your tax in full. This approach ensures your records are available for potential IRS audit.

𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗮𝗻𝗱 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗿𝗲𝗰𝗼𝗿𝗱𝘀 𝗻𝗲𝗲𝗱 𝘁𝗼 𝗯𝗲 𝗵𝗲𝗹𝗱 𝗹𝗼𝗻𝗴𝗲𝗿. To prove your cost/basis and taxable gain or loss, all records relating to property you own (your home, rental properties, stocks bonds or other investments) need to be kept for at least three years after it's sold or disposed.

𝗕𝗲 𝗺𝗶𝗻𝗱𝗳𝘂𝗹 𝗼𝗳 𝗼𝘁𝗵𝗲𝗿 𝗿𝗲𝗰𝗼𝗿𝗱 𝗿𝗲𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀. The three-year period is federal guidance for standard returns. There are other factors that should be considered including:
1. State record retention requirements (often six months to one year longer)
2. Requirements for insurance, banking or estate management
3. W-2s to confirm and defend your historic Social Security earnings statement
4. Additional federal requirements for tax returns including unreported income (six years), worthless securities (seven years) or bad debt (seven years)
5. No audit time limit for fraudulent returns

𝗣𝗮𝘆 𝘀𝗽𝗲𝗰𝗶𝗮𝗹 𝗮𝘁𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝘁𝗼 𝗻𝗲𝘄 𝗿𝘂𝗹𝗲𝘀. Remember...Read more: https://tips.resourcesforclients.com/EcgyfLzfgSUz

www.tucsoncpa.com

06/29/2026

𝗧𝗼 𝗔𝗺𝗲𝗻𝗱 𝗢𝗿 𝗡𝗼𝘁 𝗔𝗺𝗲𝗻𝗱? 𝙄𝙨 𝙞𝙩 𝙖𝙡𝙬𝙖𝙮𝙨 𝙖 𝙜𝙤𝙤𝙙 𝙞𝙙𝙚𝙖 𝙩𝙤 𝙖𝙢𝙚𝙣𝙙 𝙮𝙤𝙪𝙧 𝙩𝙖𝙭 𝙧𝙚𝙩𝙪𝙧𝙣 𝙞𝙛 𝙮𝙤𝙪 𝙛𝙞𝙣𝙙 𝙖𝙣 𝙚𝙧𝙧𝙤𝙧?

Here's a tip that is worth reviewing each year as adjustments to your income tax return may become apparent. This is often common with the advent of changing tax rules and as the IRS finalizes rules on recently passed tax legislation. But filing an amended tax return is not always the answer. Here are some tips to consider.

𝗘𝗿𝗿𝗼𝗿𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗜𝗥𝗦'𝘀 𝗳𝗮𝘃𝗼𝗿

Errors discovered that lead to an additional tax obligation are legally required to be fixed by filing an amended tax return. This is especially true if the discovered error is from missing information found on a Form 1099 or a Form W-2. Why? This information is being reported to the IRS and matching programs will typically catch the error. The sooner you amend your return and pay the tax the lower the possible interest and penalties.

𝗘𝗿𝗿𝗼𝗿𝘀 𝘁𝗵𝗮𝘁 𝗿𝗲𝘀𝘂𝗹𝘁 𝗶𝗻 𝗮 𝗹𝗼𝘄𝗲𝗿 𝘁𝗮𝘅 𝗹𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆

If correcting the error or omission results in a large additional refund, the answer is usually obvious. File the amended return. But this is not always the case.

The period of time during which the IRS can audit your tax return could be extended. Federal tax returns are typically subject to audit for three years after the original tax return due date OR the date the return was filed, whichever is later. If you file an amended tax return, the audit clock may change based on the amended return filing date and degree of change requested. It may trigger a request from the IRS to extend the audit review period. The refund also resets the IRS's erroneous refund recovery statute, adding another two to five years during which a review by the IRS is possible based upon the date of the latest tax return refund.

The amended return may become examined. Amending a tax return puts a spotlight on your tax return. The IRS has certain topics that trigger individual examinations when amended returns are requested. Amended tax returns based on things like...Read more: https://tips.resourcesforclients.com/EcgyfLzfgSUz

06/26/2026

𝗧𝗵𝗶𝘀 𝗶𝘀 𝘁𝗵𝗲 𝘀𝗶𝗴𝗻 𝘆𝗼𝘂'𝘃𝗲 𝗯𝗲𝗲𝗻 𝘄𝗮𝗶𝘁𝗶𝗻𝗴 𝗳𝗼𝗿!

We're already halfway through the year. And if you've been putting off your bookkeeping, wondering whether you're paying more tax than you should, or simply haven't had the time to look closely at your numbers—you don't have to figure it all out alone.

Every successful business deserves financial clarity. Sometimes, all it takes is one conversation with the right team to get back on track.

At 𝗥𝗲𝗱 𝗔𝗹𝗱𝗲𝗿 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁𝘀, we're here to provide honest advice, practical solutions, and the support you need to move forward with confidence—with the same team from formerly David Oase, CPA.

Let's take a look at where your business stands today and build a plan for a stronger second half of the year.

📞 𝗦𝗰𝗵𝗲𝗱𝘂𝗹𝗲 𝘆𝗼𝘂𝗿 𝗰𝗼𝗻𝘀𝘂𝗹𝘁𝗮𝘁𝗶𝗼𝗻 𝘁𝗼𝗱𝗮𝘆—w𝗲'𝗱 𝗹𝗼𝘃𝗲 𝘁𝗼 𝘀𝗲𝗲 𝗵𝗼𝘄 𝘄𝗲 𝗰𝗮𝗻 𝗵𝗲𝗹𝗽.

06/25/2026

𝗧𝗵𝗶𝘀 𝗶𝘀 𝘁𝗵𝗲 𝘀𝗶𝗴𝗻 𝘆𝗼𝘂'𝘃𝗲 𝗯𝗲𝗲𝗻 𝘄𝗮𝗶𝘁𝗶𝗻𝗴 𝗳𝗼𝗿!

We're already halfway through the year. And if you've been putting off your bookkeeping, wondering whether you're paying more tax than you should, or simply haven't had the time to look closely at your numbers—you don't have to figure it all out alone.

Every successful business deserves financial clarity. Sometimes, all it takes is one conversation with the right team to get back on track.

At 𝗥𝗲𝗱 𝗔𝗹𝗱𝗲𝗿 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁𝘀, we're here to provide honest advice, practical solutions, and the support you need to move forward with confidence—with the same team from formerly David Oase, CPA.

Let's take a look at where your business stands today and build a plan for a stronger second half of the year.

📞 𝗦𝗰𝗵𝗲𝗱𝘂𝗹𝗲 𝘆𝗼𝘂𝗿 𝗰𝗼𝗻𝘀𝘂𝗹𝘁𝗮𝘁𝗶𝗼𝗻 𝘁𝗼𝗱𝗮𝘆—w𝗲'𝗱 𝗹𝗼𝘃𝗲 𝘁𝗼 𝘀𝗲𝗲 𝗵𝗼𝘄 𝘄𝗲 𝗰𝗮𝗻 𝗵𝗲𝗹𝗽.

06/22/2026

𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗵𝗲 𝗜𝗥𝗦 𝗖𝗮𝗻'𝘁 𝗧𝗼𝘂𝗰𝗵

Wouldn't it be nice to have a source of nontaxable income? You may be more fortunate than you realize. Here are several types of income that IRS does not tax.

𝟭. 𝗧𝗮𝘅-𝗳𝗿𝗲𝗲 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁. The federal government does not tax municipal bond interest. This includes bonds issued by state or municipality. The tax-free benefit increases the higher your income, but caution must be taken to ensure the underlying municipality is not in dire financial condition.

𝟮. 𝗛𝗲𝗮𝗹𝘁𝗵 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗽𝗿𝗲𝗺𝗶𝘂𝗺𝘀. Most health insurance premiums are tax free (for now). This could change in the future, but for most people this benefit can currently be paid using pre-tax dollars.

𝟯. 𝗜𝗻𝗰𝗼𝗺𝗲 𝗳𝗿𝗼𝗺 𝗥𝗼𝘁𝗵 𝗜𝗥𝗔 𝗮𝗻𝗱 𝗥𝗼𝘁𝗵 𝟰𝟬𝟭(𝗸) 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝘀. While the amounts contributed into these retirement savings accounts are taxed, any earnings made on contributions are tax free for federal income tax purposes as long as holding period and distribution rules are followed.

𝟰. 𝗛𝗲𝗮𝗹𝘁𝗵 𝘀𝗮𝘃𝗶𝗻𝗴𝘀 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝘀 (𝗛𝗦𝗔). Contributions are deductible while earnings are tax free as long as disbursements from account are used to pay for qualified health care expenses.

𝟱. 𝗖𝗵𝗶𝗹𝗱 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝗿𝗲𝗰𝗲𝗶𝘃𝗲𝗱. Child support income you receive is free from federal tax.

𝟲. 𝗖𝗮𝗿 𝗽𝗼𝗼𝗹 𝗿𝗲𝘃𝗲𝗻𝘂𝗲. While commuting expenses are not generally deductible, any reimbursement of your commuting expenses by fellow passengers is not reportable as income.

𝟳. 𝗛𝗼𝗺𝗲 𝘀𝗮𝗹𝗲 𝗴𝗮𝗶𝗻𝘀. Up to $250,000 ($500,000 for married filing jointly) of capital gains on a sale of your principal residence can be tax free.

𝟴. 𝗨𝗽 𝘁𝗼 𝟭𝟰 𝗱𝗮𝘆𝘀 𝗼𝗳 𝗿𝗲𝗻𝘁𝗮𝗹 𝗶𝗻𝗰𝗼𝗺𝗲. If you rent out your home or vacation property, up to 14 days of this rental income each year can be tax free.

𝟵. 𝗖𝗲𝗿𝘁𝗮𝗶𝗻 𝗯𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗳𝗿𝗼𝗺 𝘆𝗼𝘂𝗿 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗿. In addition to health care premiums, there are a number of employee benefits that are not taxable. All have limits, but every tax-free dollar is money in your pocket. These include...Read more: https://tips.resourcesforclients.com/EcgyfLzfgSUz

www.tucsoncpa.com

06/19/2026

𝗗𝗶𝘃𝗲𝗿𝘀𝗶𝘁𝘆 𝗠𝗮𝗸𝗲𝘀 𝗨𝘀 𝗦𝘁𝗿𝗼𝗻𝗴𝗲𝗿. 𝗜𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻 𝗠𝗮𝗸𝗲𝘀 𝗨𝘀 𝗕𝗲𝘁𝘁𝗲𝗿.

As we celebrate Pride Month, Red Alder proudly continues the legacy established as David Oase, CPA—a longstanding commitment to diversity, inclusion, and meaningful community partnerships.

From then until today, our support for the Tucson LGBT Chamber of Commerce remains unwavering, as we celebrate the individuals, businesses, and voices that make our community stronger. We believe that embracing diversity fosters innovation, connection, and a more vibrant future for everyone.

𝗛𝗮𝗽𝗽𝘆 𝗣𝗿𝗶𝗱𝗲 𝗠𝗼𝗻𝘁𝗵 𝗳𝗿𝗼𝗺 𝗥𝗲𝗱 𝗔𝗹𝗱𝗲𝗿! 🏳️‍🌈

06/16/2026

𝗦𝗼𝗰𝗶𝗮𝗹 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆 𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴 𝗦𝘁𝗮𝗿𝘁𝘀 𝗡𝗼𝘄 𝗙𝗼𝗿 𝗘𝘃𝗲𝗿𝘆𝗼𝗻𝗲

Although you won’t become eligible for Social Security until your 60s, there’s a lot you can do to prepare before then. Here’s a rundown of steps you can take during each decade of your life:

𝗜𝗻 𝘆𝗼𝘂𝗿 𝟮𝟬𝘀: If you’re like a lot of people, you’re embarking on a career. At this point, there’s no guarantee that Social Security will be around in its current form when you’re ready to retire. The smart move is to build up retirement savings on your own. For instance, you could participate in a 401(k) or other qualified plan at work. If it's still around, Social Security benefits will be pleasant surprise when you retire.

𝗜𝗻 𝘆𝗼𝘂𝗿 𝟯𝟬𝘀: As you continue making retirement contributions, begin checking on your Social Security wage history. Go to Social Security Administration (SSA) website to set up and review your account. Eventually, benefits will be based on your work history. Make sure wages are being reported correctly and correct any errors that occur. At the same time, increase retirement plan contributions.

𝗜𝗻 𝘆𝗼𝘂𝗿 𝟰𝟬𝘀: Typically, this is a time when your earnings increase significantly. Be aware of the key rules relating to Social Security benefits. For example, realize that SSA uses your average earnings for 35 highest-earning years to calculate your payments in retirement. So keep track of this and continue to have lower income years be replaced with higher income years. This will result in higher benefit checks when you retire.

𝗜𝗻 𝘆𝗼𝘂𝗿 𝟱𝟬𝘀: Circle a target date for retirement. While not etched in stone, having target date allows you to analyze whether you’ll be able to sustain your current lifestyle based on your expected income and expenses. This exercise is more important if you’re considering early retirement. Continue to check income being reported to SSA and create forecast for the future. If you wait until your 60s to begin this planning process, it may be too late to save enough to meet your retirement goals.

𝗜𝗻 𝘆𝗼𝘂𝗿 𝟲𝟬𝘀: Decide whether you...Read more: https://tips.resourcesforclients.com/EcgyfLzfgSUz

www.tucsoncpa.com

David Oase, CPA

07/13/2026

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