Author: WP+D

Arizona Proposition 206 | Earned Paid Sick Time

Effective July 1, 2017, Proposition 206 entitles employees to accrue earned paid sick time. Arizona voters approved Proposition 206, the Fair Wages and Healthy Families Act, which established a new state minimum wage and entitled employees to accrue earned paid sick time.

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Reducing Taxes | Vacation Home Use

This article is the sixth of ten tips for reducing taxes during the summer. Federal tax law allows deductible expenses relating to renting out a vacation home to offset rental income.

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Moving and Establishing Residency

Considering moving to another state? Moving could lower your state tax bill; however, you need to establish the new state is your place of legal residence, also known as your domicile, for state tax purposes. Otherwise, the old state could come after you for taxes after moving. In the worst-case scenario, your new state could expect to get paid, too.

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Home Mortgage Interest Deductions

Homeowners that itemize “qualified residence” interest should be aware of the IRS rules and new Form 1098 reporting requirements. The allowed deduction may not match what the bank reports on Form 1098 and the IRS can target this deduction in tax return audits.

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