Saturday, August 25, 2018

[Alert] Possible Changes to Tax Law and Fed Deductions

by Brian August 25, 2018

This is an alert as the proposed change may impact your situation. On August 23 2018, the IRS proposed regulations to remove the ability to take a federal tax deduction on contributions made to school tuition organizations (STOs) after August 27, 2018. This is the official IRS news release. The Arizona state tax credit benefit will not be affected. Because of this potentially quick and far reaching change, we felt it necessary to let you know in case making an early contribution makes sense for you. You will still be able to get the dollar-for-dollar state tax credit but NOT […]

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