Scottsdale Tax

A Choice for Taxpayers: The State and Local Tax Deduction

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

Kiddie Tax

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

Revised Arizona Form 5005

There have been a lot of sales tax updates for Arizona businesses in the construction/contracting industries. The modified Contractor’s Certificate (Form 5005) is yet another item you need to consider. Arizona Form 5005 is a certificate that provides subcontractors with … read more

Supreme Court Says No to Double Taxation!

If you have ever earned income in another state, you may have been unpleasantly surprised when your tax adviser informed you that you owed taxes to two states – to the state where the income was earned and to your … read more

New AZ Law Establishes Tax Recovery Program in 2015

Do you owe money to the State of Arizona? If you do, you can minimize that amount by taking advantage of a new tax recovery program! On March 12, 2015 the State of Arizona passed Senate Bill 1471 to establish … read more

No Longer Tax Free – Nevada Enacts Commerce Tax

Nevada has been a favored place to transact business as an income tax-free state. That all ended on June 10, 2015, when Governor Sandoval signed a bill enacting a new “Commerce Tax” applicable to each “business entity” with Nevada gross … read more

The Benefits of Cost Segregation Studies

Have you recently purchased a building? Have you done any build-out work on an existing building? Have you recently remodeled? Are your leasehold improvements properly classified for tax purposes? Are you looking to enhance your cash flow? If you answered … read more

The Importance of Adequate Tax Records

Failure to generate and keep adequate tax records to support a certain position can have costly results as detailed recently in Tax Court Memo 2015-95. In this case, a husband and wife purchased an oceanfront condo as a seasonal home … read more

Is your small business impacted by the Affordable Care Act?

Most employers have fewer than 50 full-time employees or full-time equivalent employees and are therefore not subject to the employer shared responsibility provision of the Affordable Care Act. If an employer has fewer than 50 full-time employees, including full-time equivalent … read more

Pushing Tax Reform – TPR De Minimis Safe Harbor Threshold

The American Institute of Certified Public Accountants (AICPA) has recently been participating in U.S. House of Representatives, Committee on Small Business hearings on tax reform with the goal of ensuring that main street isn’t left behind. One area of focus … 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!

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