Credits

Tax-Free Student Aid vs. Education Credit

The American Opportunity and Lifetime Learning tax credits were created to subsidize the cost of college education. Generally, the credits are based on qualified costs of education, namely, college tuition and fees, books, supplies and equipment. Those qualified costs must … read more

How Can a Change in Income Have Unexpected Consequences?

Do you feel like you are unique? Don’t follow the crowd? Go your own way? Well, if you went against your norm and followed the pack and were one of the 7.1 million people who signed up for health insurance … read more

It’s the End of the Line for Some Popular Credits and Deductions

Did you know that while many tax rules are permanent, others are written to expire at some point in the future? These expiring items are often granted a temporary extension, but a significant number of popular “extenders” terminated at the … read more

The Child Tax Credit May Cut Your Tax

For those of you with children, you hear rumors about the tax benefits of children. Unfortunately, some of the tax benefits seem to be less than the actual monetary cost of the child, but there is a way to potentially … read more

IRS Releases New Requirements to Claim the Earned Income Tax Credit

Recently, the IRS released new requirements for taxpayers to be eligible to claim and take advantage of the Earned Income Tax Credit (EITC). The online and interactive EITC Assistant has been upgraded to assist you in determining whether you qualify … read more

Don’t Miss Out on Taking Your 2013 Arizona State Tax Credits!

If you are an Arizona resident, you may want to take advantage of the following Arizona tax credits which are a dollar for dollar reduction in Arizona tax.  Among the numerous credits available to Arizona residents are:    1. Credit for Contributions to … read more

Changes in Arizona to §529 Plan Deductions and Charitable Donation Credits

The Arizona legislature is out of session – but not before they made some favorable changes – if you are an individual taxpayer! Beginning September 13, 2013 and retroactively effective to December 31, 2012, Arizona taxpayers with §529 college savings … read more

Tax Credit for Your Retirement (The Saver’s Credit)

It is never too early to start planning for your 2013 tax return – even though you may have just filed your tax return for 2012! Saving for your retirement can make you eligible for a tax credit worth up … read more

Get Credit for Making Your Home Energy-Efficient

If you made your home more energy efficient last year, you may qualify for a tax credit on your federal income tax return. Here is some basic information about home energy credits that you should know. If you have procrastinated … read more

New Market Credits

With the passage of the American Taxpayer Relief Act of 2012, the government extended the new markets tax credit which is available for investments made in entities involved in development in low- and moderate-income areas throughout the United States, Puerto … read more


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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, LLP 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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