Arizona tax

Going Nowhere FAST if You Owe Taxes

Tax season has come to an end and the season for travel is approaching. So as I wait for clients that are on extension to provide me some missing information, I found myself browsing tax news and articles (Exciting, I … read more

Happy (for Some) 100th Anniversary to the Estate Tax

Back in 1916, Congress wanted to boost U.S. revenues in case America joined in on World War I in Europe. Lawmakers voted for a new tax on a person’s assets at death, which we now call the Estate Tax aka … read more

What Prince’s Death Teaches Us about Estate Tax

Prince Rogers Nelson, American singer, songwriter, and actor, passed away on April 21, 2016. Cities, social media, and fans showed their support and solidarity in a sea of purple. Prince resided in Minnesota at the time of his death. As … read more

Trusts: Fully Deductible Expenses vs AGI Limit

Generally, miscellaneous itemized deductions may be deducted to the extent they exceed 2% of adjusted gross income (AGI). Miscellaneous itemized deductions can include tax preparation fees, investment fees, estate planning legal fees, and safe deposit box charges, to name a … read more

Bonus Depreciation Changes

As many of you may know, the Protecting Americans From Tax Hikes (PATH) Act of 2015 extended the bonus depreciation rules through 2019. The Act also calls for a gradual reduction in the percentage: 50% in 2015 – 2017, 40% … read more

Amounts Raised for Two Arizona Tax Credits

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

Lose Your Medicare Card? Want a Social Security Estimate?

If you are a Medicare beneficiary and you have lost, damaged, or need to replace your Medicare card, you can easily order a replacement Medicare card using an online “my Social Security” account. If you are still working, use “my … read more

Internet Sales Can Be Taxing

Earlier this month, South Dakota lawmakers put into effect a tax on out-of-state online retailers that now requires them to collect state sales tax from customers on internet sales. The law affects those retailers who have done business in the … read more

Intergovernmental Agreements

The Foreign Account Tax Compliance Act (FATCA) was created to prevent offshore tax evasion of U.S. taxpayers. As part of the IRS initiative for international data exchange, certain foreign entities have additional reporting requirements. If these entities fail to comply, … read more

New FATCA FAQs Released

As many taxpayers attempt to comply with the Foreign Account Tax Compliance Act (FATCA), they are facing challenges understanding and conforming to the requirements. In an attempt to clarify these complex rules, the IRS has issued Frequently Asked Questions (FAQs) … 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.

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!

Contact Us


Recent Posts