Updates and Advice:
For tax year 2019, there are some adjustments to the most commonly used Arizona tax credits:
Non-Refundable Credits |
Individual Filers |
Married Filers |
Private School Tuition Organization Tax Credit |
$1135 |
$2269 |
Public School Tax Credit |
$200 |
$400 |
Foster Care Tax Credit |
$500 |
$1000 |
Qualified Charity Tax Credit |
$400 |
$800 |
For additional information related to these credits, please see the following website: https://azdor.gov/tax-credits
The tax deadline for filing your 2019 taxes is April 15, 2020. You have until this date to take advantage of these state tax credits and apply them to your 2019
taxes.
Please note that the new tax laws are still in effect. Employees are still no longer able to deduct their unreimbursed work expenses as itemized deductions. All expenses related to the self-employed and rental properties are still deductible as in years past.
I've also noticed an uptick in audits over the past couple of years especially for those who own businesses. I strongly recommend taking great care of all personal receipts and records to make sure everything is still in order after your return is completed. Mileage logs in particular are big sticking points with the IRS. They will want to see a daily log for every business trip made throughout the year. Not doing so can prove quite costly.
Also, please refrain from sending or bringing me thumb drives containing your tax forms. For security reasons, I prefer that your documents be sent electronically or faxed if you are unable to deliver or bring a hard copy to the office.
With an industry that is constantly evolving, I am happy to serve and assist you in any way I can. If you have any questions or need some help getting things in order, please contact me directly.
-Brandon Johnston, EA
The tax deadline for filing your 2019 taxes is April 15, 2020. You have until this date to take advantage of these state tax credits and apply them to your 2019
taxes.
Please note that the new tax laws are still in effect. Employees are still no longer able to deduct their unreimbursed work expenses as itemized deductions. All expenses related to the self-employed and rental properties are still deductible as in years past.
I've also noticed an uptick in audits over the past couple of years especially for those who own businesses. I strongly recommend taking great care of all personal receipts and records to make sure everything is still in order after your return is completed. Mileage logs in particular are big sticking points with the IRS. They will want to see a daily log for every business trip made throughout the year. Not doing so can prove quite costly.
Also, please refrain from sending or bringing me thumb drives containing your tax forms. For security reasons, I prefer that your documents be sent electronically or faxed if you are unable to deliver or bring a hard copy to the office.
With an industry that is constantly evolving, I am happy to serve and assist you in any way I can. If you have any questions or need some help getting things in order, please contact me directly.
-Brandon Johnston, EA