Lewis and Schiefer, LLC: Income Taxes, Living Trust & Financial Interests.
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With the completion of your 2016 return behind us, we want to thank you for your reliance on our tax services. This year may bring about significant change to the Tax Code. Tax reform continues to be a hot topic in Washington, especially with the White House’s promise of lower tax rates.

There are even talks of eliminating personal exemptions, the Alternative Minimum Tax (AMT), and the 3.8% Net Investment Income Tax (NIIT). However, details surrounding impending tax legislation are fuzzy at this point. We will continue to monitor the situation and keep you informed of any developments that may change your tax situation.

Our firm is honored you have trusted us to handle your tax matters. As major developments and opportunities emerge, we are available to discuss the impact on your personal or business situation. In addition, to meet our commitment to you, we are constantly trying to identify ways to improve the quality of the services we offer. Also, we are honored and appreciate it when clients refer others to us for assistance.

Joe Schiefer, Enrolled Agent and Roy A. Lewis, Enrolled Agent

June 05, 2017

The State of Arizona Minimum Wage/Paid Sick Leave Requirements
In the November 2016 election, Arizona voters approved a law to increase the minimum wage and require employers to provide paid sick leave.

The minimum wage will Increase as follows

    $10.00 per hour January 1, 2017
    $10.50 per hour January 1, 2018
    $11.00 per hour January 1, 2019
    $12.00 per hour January 1, 2020
    Beginning January 1, 2021 the minimum wage will be adjusted for inflation.
Paid Sick Leave:

Arizona’s paid sick leave requirements take effect on July 1, 2017.
  • Employees accrue one hour of paid sick leave for every 30 hours worked. Employers may front load all of the paid sick leave employees are expected to accrue at the beginning of the year. Employees begin accruing paid sick leave on July 1, 2017 or their date of hire, whichever is later.
  • Employers with 15 or more employees may cap annual accrual and use of paid sick leave at 40 hours. Employers with fewer than 15 may cap it at 24 hours.

    The information provided above is only a brief summary. You can learn more at https://www.azica.gov/frequently-asked-questions-about-wage-and-earned-paid-sick-time-laws

    Please call our office if you have any questions regarding the above information.

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