Arizona tax

No Health Coverage? How to Know if You Qualify for an Exemption

Most people must have health insurance coverage in 2014 or pay a penalty fee with the 2014 income tax return. The fee (also known as “the penalty,” the “individual shared responsibility payment,” or the “individual mandate”) is based on your … read more

Don’t Pay Obamacare Penalty: Plans that Count as Health Coverage

To avoid the 2014 penalty fee (also known as “the penalty,” the “individual shared responsibility payment,” or the “individual mandate”) for being uncovered, you must have health insurance that qualifies as minimum essential coverage. Certain health plans qualify as minimum … read more

Coming Oh, So Soon: The Obamacare Penalty Fee

The long awaited and much discussed Obamacare penalty fee (also known as “the penalty,” the “individual shared responsibility payment,” or the “individual mandate”) is coming to your 2014 tax return and will be charged for the months in 2014 that … read more

Look Now to Avoid a Tax Surprise Later

If you’re like me, you are finding it hard to believe that 2014 is coming to an end quickly. Taking a few minutes to review certain information today can save you from tax surprises come April. Here are some actions … read more

How to Deal with Net Investment Income Tax

The Net Investment Income Tax (NIIT) just went into effect last year, starting January 1, 2013. Those who were aware and on top of it, started planning more than a year ago. This is a reminder of what the tax … read more

2014 Arizona Tax Credits

With 2014’s year-end quickly approaching, it is important to be aware of ways to lower your income tax. The below Arizona tax credits may offset your Arizona tax dollar for dollar and are applicable for 2014 individual tax returns: Credit … read more

IRS Announces Leave-Based Donation Program for Ebola Relief

Without a doubt, the major news story over the past few weeks has been the spread of the Ebola virus throughout many African countries and even the United States. Perhaps you’ve been considering making a donation to one of the … read more

2015 Inflation-Adjusted Figures for Transfer Tax and Foreign Items

The inflation-adjusted figures have come out for 2015 transfer tax and foreign items. Unified estate and gift tax exclusion amount: For gifts made and estates of decedents dying in 2015, the exclusion amount will be $5,430,000 (up from $5,340,000 for … read more

Like-Kind Exchange – Use of Qualified Intermediary

Like-kind exchanges are back! Due to the economic environment over the last five years, there was a period of inactivity, but recently there has been much more activity in this area. For those who are entering into these transactions, it … read more

Education Expenses Overwhelming? Try the Lifetime Learning Credit

If you, your spouse, or dependents are currently attending or planning to attend college, you may be able to claim the Lifetime Learning Credit to help offset the cost. Just remember that you cannot claim both the Lifetime Learning Credit … 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.

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