Dear Tax Clients,
Posted on July 20, 2010
Can you believe that we are at the end of July already? Most of you can probably still remember me bringing your tax returns for 2009 to you. There are a few of you that still struggling to get 2009 done and a very few are still working on earlier years. 
The congress is not really doing anything on the tax laws because of upcoming elections; but you should expect a flurry of activity after the elections. There is some legislation that probably will not be popular, so why stir up the pot now? After all, congress members want their jobs back. There will be changes and some might be major; it is still too soon to tell. I would still encourage you to take advantage of savings instruments that will shelter your money from taxes or take advantage of the education accounts for your children or grandchildren.
The State of Arizona is still offering the tax credit of $250.00/single or $400.00/joint if given to a public school. If you have a child/grandchild that attends a public school, you can give money to the school and it will be deducted from your tax liability. Maybe you have a friend that teaches or their children attend a school where you might want to help the school directly and reduce your tax liability to the State.
Now is the time to start planning. You have six months left and these will pass before we know it. Six months is only 12 paychecks away or at most 13. Also there are only a few of us that think about taxes during the Holiday Season. Plan now so you will not regret it on April 15, 2011.
If you have questions, please call Paul at 480-201-3753 or Rachel at 480-688-3917. We can also direct you to financial planners on different savings instruments. Also please check our website blog for more up to the minute news of what is going on.
Thank you,
Paul Spears
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