Read the latest update regarding the extended charitable giving incentives for Arizona taxpayers
Tag: tax savings
Arizona Tax Credit Alert 2021
Read the latest update regarding the extended charitable giving incentives for Arizona taxpayers
Home sales: How to determine your “basis”
When you sell your home, you’ll pay tax (or avoid it) based on the “basis” of the property. Here’s how to determine yours.
Small businesses: Cash in on depreciation tax savers
Before Dec. 31, your business should buy any needed business assets and place them in service. That way, you can take advantage of the Section 179 deduction and bonus depreciation.
Arizona Tax Credit Alert 2020
The Arizona legislature has retained and expanded some of the incentives for charitable giving for 2020. This alert explains the credits for individuals only. The dollar limits differ depending on marital status. Your payments will make a positive impact on the recipient organization, while at the same time reducing your Arizona income tax liability dollar[ … ]
Congress gives a holiday gift in the form of favorable tax provisions
Just in time for the holidays: A new law has been passed that may provide tax savings to you.
Arizona Tax Credit Alert 2019
The Arizona legislature has retained and expanded some of the incentives for charitable giving for 2019. This alert explains the credits for individuals only. The dollar limits differ depending on marital status. Your payments will make a positive impact on the recipient organization, while at the same time reducing your Arizona income tax liability dollar[ … ]
Hire your kids this summer: Everyone wins!
If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, save for college and learn how to manage money. And you may be able to: Shift your high-taxed income into tax-free or low-taxed income, Realize payroll[ … ]
Seniors: Medicare premiums could lower your tax bill
Americans who are 65 and older qualify for basic Medicare insurance, and they may need to pay additional premiums to get the level of coverage they desire. The premiums can be expensive, especially if you’re married and both you and your spouse are paying them. But one aspect of paying premiums might be positive: If[ … ]
Cost Segregation Studies Gone Wrong
For many, rapidly accelerating the depreciation on a commercial building by utilizing a cost segregation study is a no-brainer. Commercial properties are depreciated over 39 years by default, which is an awfully long time to recover the tax benefits of your cost. If you can frontload those deductions, it only makes economic sense. Right? Well,[ … ]
