The Arizona legislature has increased the credits for contributions to qualifying charitable organizations and for contributions to qualifying foster care charitable organizations for 2016. L. 2016, S1216, effective 08/06/2016 and retroactively applicable to taxable years beginning after 12/31/2015, increases the … read more
When I say “R&D” what do you think of? Is it a scientist making a breakthrough? Maybe it’s an engineer at the forefront of technology? If so, you are on the right track, but if that’s all you think of, … read more
What were you doing on January 29th? If you’re like me, you’re always looking for a reason to celebrate (and eat cake)! If you weren’t celebrating, you should have been, because it was the 10th anniversary of EITC Awareness Day … read more
With the coming and going of October 15th, as we wave goodbye to extension season and the 2014 tax year as a whole, we can all anticipate and look forward to starting the whole process over again in a few … read more
Many parents pay for childcare or day camps in the summer while they work. If this applies to you, your costs may qualify for a federal tax credit that can lower your taxes. Here are 10 facts that you should … read more
The Arizona legislature has established a pro rata income tax credit for an S corporation that donates to a school tuition organization (STO) for tax years beginning on or after 1/1/2015. To qualify for the credit, the aggregate amount of … read more
If you hire employees of a “targeted group” (defined below), you may be eligible for the Work Opportunity Tax Credit (WOTC). The IRS has granted a transitional relief period until April 30, 2015 (originally this was 28 days after hire … read more
Childcare is a challenge for a lot of parents around the country, especially when both parents work. Knowing how to take advantage of the tax provisions for child and dependent care can help at tax time. The Child and Dependent … read more
Are you a low-to-moderate income worker? If so, the saver’s credit allows you to save for your retirement while also saving on your taxes with a special tax credit. Save for retirement. The formal name of the saver’s credit is … read more
There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.
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- What Prince’s Death Teaches Us about Estate Tax
- Trusts: Fully Deductible Expenses vs AGI Limit
- Bonus Depreciation Changes
- Amounts Raised for Two Arizona Tax Credits
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- Internet Sales Can Be Taxing
- Intergovernmental Agreements
- New FATCA FAQs Released
- Your New Job: Filling Out Your W-4 and State Equivalent
- Forming a Partnership – Considerations When Creating an LLC as a Partnership