NorthStar Accounting & Tax LLC

NorthStar Accounting & Tax LLC Accounting firm that offers bookkeeping and tax services remotely NorthStar Accounting & Tax LLC is licensed in AZ and specializes in Accounting.

We are professional, experienced, and affordable. We offer a broad range of services for business owners, executives, and independent professionals.

Your business can claim a tax credit for qualified expenses paid or incurred when providing child care for employees. Be...
12/17/2025

Your business can claim a tax credit for qualified expenses paid or incurred when providing child care for employees. Beginning in 2026, the One Big Beautiful Bill Act increases the percentage of qualified expenses that can be taken into account for purposes of claiming the employer-provided child care credit. It also increases the maximum credit. Contact us at (602) 718-4625 with questions.

Sure, 401(k) plans can help you save for a secure retirement. But they may offer another important benefit — hardship wi...
12/15/2025

Sure, 401(k) plans can help you save for a secure retirement. But they may offer another important benefit — hardship withdrawals. If you need emergency cash for medical bills, tuition or funeral costs (among other eligible expenses), you may be able to withdraw funds from your 401(k) account. Unlike loans, hardship withdrawals don’t have to be repaid. But you'll need to pay income tax and possibly a 10% early withdrawal penalty. Contact us (602) 718-4625 for details.

The new tax law introduced deductions for qualified tips and qualified overtime compensation. Specifically, for 2025 thr...
12/12/2025

The new tax law introduced deductions for qualified tips and qualified overtime compensation. Specifically, for 2025 through 2028, it creates a deduction of up to $25,000 for tips income in certain industries. It also creates a deduction of up to $12,500 ($25,000 for joint filers) for qualified overtime pay. Because employers and payors may not yet have adequate procedures to comply with the new rules, the IRS has designated 2025 as a transition period and is providing penalty relief. Notice 2025-62 offers relief to employers and payors for not filing correct information returns and not providing correct payee statements to employees and other payees. For more information, call us at (602) 718-4625.

Wage garnishment can be tough. It allows creditors to collect a debt by legally withholding a portion of an employee’s p...
12/10/2025

Wage garnishment can be tough. It allows creditors to collect a debt by legally withholding a portion of an employee’s paycheck, but it comes with limits and employee protections. Garnishments are often triggered by government debts such as child support, student loans, tax levies, or court judgments. Before withholding can begin, you must be notified of the order to withhold. Some portion of your wages must be exempt per state law. If you’re hit with a garnishment order you believe is incorrect or unfair, you have the right to challenge it. Contact us for help with this matter at (602) 718-4625.

The chart of accounts is the foundation of a company’s bookkeeping. It organizes every dollar that comes in or goes out....
12/08/2025

The chart of accounts is the foundation of a company’s bookkeeping. It organizes every dollar that comes in or goes out. But if your chart is cluttered, inconsistent or poorly structured, your financial reports will be, too. Clear account groupings, consistent labels and alignment with your reporting goals are essential for meaningful financial insights. Contact us at (602) 718-4625 to help design a chart of accounts tailored to your business. We’ll make it detailed enough to guide decision-making, but simple enough to stay manageable.

The Social Security Administration said that Social Security benefits for 2026, including Old-Age, Survivors, and Disabi...
12/05/2025

The Social Security Administration said that Social Security benefits for 2026, including Old-Age, Survivors, and Disability Insurance (OASDI), and Supplemental Security Income (SSI) payments, will increase 2.8%. These changes reflect cost-of-living adjustments based on inflation. Social Security retirement benefits will increase by about $56 per month on average starting in January. Increased payments to SSI recipients will begin on Dec. 31, 2025. (Note: Some people receive both Social Security benefits and SSI.) The maximum earnings subject to Social Security tax (the so-called “wage base”) will increase $8,400, from $176,100 to $184,500. Have questions about the Social Security tax? Call us at (602) 718-4625.

The One Big Beautiful Bill Act (OBBBA) brings major tax savings and planning opportunities for many businesses. Here are...
12/03/2025

The One Big Beautiful Bill Act (OBBBA) brings major tax savings and planning opportunities for many businesses. Here are four highlights: 1) 100% first-year bonus depreciation for qualified new and used assets and production property, 2) an enhanced research and experimentation deduction, 3) expanded gain exclusions for qualified small business stock. 4) permanent 20% qualified business income deduction for pass-through businesses and sole proprietorships. Contact us at (602) 718-4625 to review your tax strategies and lock in benefits under the OBBBA.

For cash-based businesses, meticulous recordkeeping is essential. Because cash transactions are harder to verify, they i...
12/01/2025

For cash-based businesses, meticulous recordkeeping is essential. Because cash transactions are harder to verify, they increase the risk of underreporting income and attracting IRS scrutiny. The IRS closely monitors such businesses, using tools like cash flow analysis, bank deposit comparisons and lifestyle audits to estimate actual income. If discrepancies arise, the IRS may calculate your income based on estimates, potentially resulting in higher taxes than necessary. Contact us for help with your business at (602) 718-4625.

The IRS has issued transitional guidance to auto lenders required to report certain vehicle loan interest for 2025. Unde...
11/28/2025

The IRS has issued transitional guidance to auto lenders required to report certain vehicle loan interest for 2025. Under the tax legislation signed into law in July, interest on qualified passenger vehicle loans originated after Dec. 31, 2024, generally is deductible up to $10,000. Lenders must provide eligible taxpayers with the appropriate information to claim the deduction on their 2025 tax returns. According to the guidance, the IRS will consider that lenders have met their reporting obligations for interest received on a qualified vehicle loan in 2025 if they make statements available to buyers indicating the total amount of interest received. To learn more about the new vehicle loan interest deduction, contact us at (602) 718-4625.

You may want to offer employees a retirement savings plan, but they can be expensive and complex. What’s a small busines...
11/26/2025

You may want to offer employees a retirement savings plan, but they can be expensive and complex. What’s a small business owner to do? Consider a simplified employee pension (SEP). They’re easy to set up and administer. Requirements are minimal: All workers must be eligible to participate, and your contributions can’t discriminate in favor of highly compensated employees. In 2025, you can contribute up to $70,000 (or up to 25% of compensation) to a worker’s SEP account and deduct the contributions. Contact us at (602) 718-4625 for details about this and other retirement plan options.

Navigating tax law can be complex. But you don’t have to do it alone. Whether you’re filing as an individual taxpayer or...
11/24/2025

Navigating tax law can be complex. But you don’t have to do it alone. Whether you’re filing as an individual taxpayer or running a business, we can provide solutions tailored to you. Contact us at (602) 718-4625 for help ensuring tax compliance and maximizing tax savings.

The IRS has announced its annual inflation-adjusted income tax brackets and other amounts. For 2026, the highest rate (3...
11/21/2025

The IRS has announced its annual inflation-adjusted income tax brackets and other amounts. For 2026, the highest rate (37%) will apply to taxable income over $640,600 for singles and heads of households ($768,700 for married couples filing jointly and $384,350 for married taxpayers filing separately). The standard deduction is increasing to $16,100 for singles and married taxpayers filing separately ($32,200 for married couples filing jointly and $24,150 for heads of households). Single filers age 65 or older will be eligible to take an additional deduction of $2,050 ($1,650 per spouse for married filers). Alternative minimum tax exemptions and adoption credits are among the other items that have been adjusted for 2026. Contact us at (602) 718-4625 if you have questions about the impact of inflation adjustments on your tax situation.

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Glendale, AZ
85302

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Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

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