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
The Arizona Department of Revenue (ADOR) and Arizona cities are changing the rules for owners of residential rental properties. By 2016, all property owners who meet the licensing requirements will be required to be licensed and to individually file sales … 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 IRS issued regulations in 2013 & 2014 trying to bring clarity to the many conflicting rules in the area of capitalization vs expensing of business property. These new regulations are commonly called the “tangible property and repair regulations” or … read more
Wondering what is this “unit of property” term you keep hearing? Well, here is your answer. The IRS issued new regulations in 2013 & 2014 trying to bring clarity to the many conflicting rules in the area of capitalization vs … read more
The Tangible Property and Repair Regulations & guidance issued in 2013 and 2014 has many new provisions including new “safe harbors” and definitions which affect all businesses that have depreciable property or pay for supplies and repairs. One area covered … read more
One of the areas included in the new Tangible Property and Repair Regulations released in 2013 and 2014 is guidance from the IRS regarding what are materials and supplies and when a business can deduct them. The new regulations which … read more
The IRS issued regulations in 2013 & 2014 trying to bring clarity to the many conflicting rules in the area of capitalization vs expensing of business property. These new regulations are commonly called the “tangible property regulations”. The new regulations … read more
One of our annual rites of passage here in Arizona, is the annual question we all ask – Will Arizona conform to the tax legislation that was passed by the federal government this year? Okay, maybe everyone does not ask … read more
When filing your 2014 federal income tax return, you will see some changes related to the Affordable Care Act. Millions of people who purchased their coverage through a health insurance Marketplace are eligible for premium assistance through the new premium … 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!
- Work Opportunity Tax Credit – You May Still Qualify for 2014
- Do you own an Arizona Rental House? Get Ready to be Licensed
- WARNING – Federal Healthcare Coverage Information May be Incorrect
- Write Off Your Building Improvements under the Safe Harbor for Small Taxpayers
- What is a Real Estate Unit of Property?
- How to Deduct Recurring Maintenance? The Routine Maintenance Safe Harbor
- Materials and Supplies – IRS Guidance on How to Deduct
- Expense Your Property under the De Minimis Safe Harbor
- Arizona – To Conform or Not to Conform to Tax Legislation?
- Premium Tax Credit Brings Changes to Your 2014 Income Tax Return