Have you seen the news lately? Lionel Messi (four-time player of the year in futball, soccer as we call it, plays for Barcelona & Argentina (only in the World Cup)) and his father Jorge are to stand trial in Spain … read more
Understanding and comprehending tax law is often a difficult task in general. It can be even more so if you are looking towards specific applications of tax law in particular industries. Take manufacturing, for example. I have had quite a … read more
Now that you finally have the time, you decide to review the tax return you recently filed. In doing so, you know that you supplied the preparer with the amount of sales tax that you paid on the new car … read more
The “Kiddie Tax” was enacted in 1986 and was intended to close a tax loophole that allowed a small number of wealthy parents to reduce their tax bill by shifting income-producing assets to their young children in lower a tax … read more
If you lose your job, you may qualify for unemployment benefits. The payments may serve as much needed relief. But did you know unemployment benefits are taxable? Here are four key facts about unemployment compensation: Unemployment is taxable. You must … read more
Okay, so you have a second home. That’s great! Now what? Well, this is a common tax issue since so many people are buying second homes. However, you may not be sure if your second home is considered for tax … read more
March is that sports time of the year when Major League Baseball is gearing up, the PGA, the National Hockey League is still at it, as is the NBA. It’s also that tax time of year when it’s time for … read more
On June 26, 2013, the U.S. Supreme Court, in the Windsor case, struck down Section 3 of the federal Defense of Marriage Act (DOMA) as unconstitutional. As a result, the federal government is required to recognize marriages between same-sex couples … read more
Last week the Obama administration reported that 800,000 people who signed up for health insurance under the Affordable Care Act received incorrect tax information on the forms they received from the federal exchange and should wait to receive new ones … read more
The question sometimes arises “do I have to pay tax if I win a prize or award from my employer?” Unfortunately, the answer usually makes Uncle Sam the winner as well. So before you take those big winnings with you … 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, 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.
Before posting a comment on a blog post please be aware that we do not give free tax advice to non-clients by email, comment response, or phone. Thank you!
- Simple Arizona Tax Credit Opportunities
- IRS Raises Tangible Property Expensing Threshold to $2,500
- Exemption for Estate and Gift Tax Rises to $5,450,000 in 2016
- Charity Auction Tax Deductions
- The Proper Way to Report Business Charitable Deductions
- Arizona Unemployment Tax Changes
- Are You Ready to File 1095-B & 1095-C?
- Bipartisan Budget Bill 2015: Major Change to Social Security
- IRS Lost Computers & Bungled Windows Update
- Stopping the Bleeding…California MyFTB being Upgraded