Tax Tips & Updates
Stay informed on the latest tax law changes, Arizona-specific updates, and practical tips from Sandra Lawes, CPA.
Energy Tax Credits — In the true form of Congress, tax law has been adjusted again. Energy tax credits have been increased in value and duration. The Inflation Reduction Act extended and expanded many energy-related credits. If you made energy improvements to your home in 2022 or 2023, you may be eligible for significant credits. Call me to discuss how these changes affect your return.
Too late to make changes for 2022 but Arizona tax credits are still available through tax day. Arizona has gone to a flat rate tax of 2.5% — a significant change from the previous graduated rate structure. This flat rate applies to all Arizona taxable income. The good news: Arizona still offers valuable tax credits for charitable contributions and education that can reduce your Arizona tax liability dollar-for-dollar. Don't miss these opportunities!
Tax planning is critical! Who could have ever anticipated the changes brought by Covid-19 and the subsequent legislation? The tax landscape has shifted dramatically over the past few years. From enhanced child tax credits to changes in retirement contribution limits, staying on top of these changes is essential. I am here to help you navigate these complexities and ensure you are taking full advantage of every benefit available to you.
My ultimate goal is to provide the best service for my customers. My ability to do analyst work helps me research the best approach to each return. Every client's situation is unique, and I take pride in giving each return the individual attention it deserves. I stay current on tax law changes through continuing education and professional development so that you benefit from the most up-to-date strategies available.
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