Click on the link below for this months QuickBooks Tip:
April 2011 QuickBooks Tip: Using Sales Orders
Sales Orders in QuickBooks: Why? When? How?
There aren’t that many different types of forms to keep straight in QuickBooks, but you likely don’t use all of them. You probably use invoices and purchase orders frequently, and may fill out the occasional sales receipt or credit memo or estimate.
But what about sales orders? You may find that they could make your bookkeeping more accurate and easier. There are only a few situations where they’re needed, but they’re the appropriate form to use at those times.
Schutte & Hilgendorf, CPAs, serving the greater Yavapai County, provides accounting, bookkeeping, tax preparation and planning, and QuickBooks consulting and setup to individuals and small busienesses. Contact us for a free initial consultation at 928-778-0079.
Published by the AICPA:
2011 Tax Saving Tips for Small Businesses
If you have questions related to any of these tax saving tips, please call us at Schutte & Hilgendorf, CPAs. serving the greater Yavapai County. We have over 40 years combined experience with small business accounting, bookkeeping. and tax planning and preparation. We are certified QuickBooks Proadvisors and may also be able to help you setup or clean-up your QuickBooks files for the filing season.
Schutte & Hilgendorf is located in the Crossings at 3140 Stillwater Drive, Ste. A, Prescott, AZ 86305. Or call to setup a free inital consultation at 928-778-0079. Ask for Gidget Schutte or Lois Hilgendorf.
Private School Tuition Credit
AZ Tax Credit-Qualifying School Tuition Organizations
Frequently Asked Questions (from the AZ DOR Website:
What do I have to do to qualify for this credit?
To qualify for this credit, you must make cash or payroll
withholding contributions to a school tuition
organization that provides scholarships or grants to
What is the maximum dollar amount of the credit?
The credit is limited to the actual amount of the
contribution. However, in 2011 the credit cannot exceed
$500 for single or head of household taxpayers. For
married taxpayers that file a joint return, the 2011 credit
cannot exceed $1,000. If married taxpayers file separate
returns, each spouse may claim only 1/2 of the credit that
would have been allowed on the joint return. Please Note:
Starting in 2011, the maximum credit amounts will be
annually adjusted (although never downward) in
accordance with changes in the metro Phoenix consumer
Must the private school tuition tax credit be claimed
in the year of donation?
No. Beginning in 2011, a contribution made by April 15
may be treated for purposes of this tax credit as if it was
made on December 31 of the prior year. For example, a
contribution made to a school tuition organization from
January 1, 2011 to April 15, 2011 could be used as a tax
credit on either your 1) 2010 or 2) 2011 Arizona income
What is a school tuition organization?
A school tuition organization is one that is tax exempt
under Section 501(c)(3) of the Internal Revenue Code,
allocates at least 90 percent of its annual revenue to
scholarships or grants, and makes its scholarships/grants
available to students of more than one qualified school.
Will the Department of Revenue certify school
Yes. Beginning January 1, 2011, the Arizona
Department of Revenue is required to begin certifying
school tuition organizations. The Arizona Department
of Revenue will maintain a registry of currently
certified school tuition organizations on its website,
What is a qualified school?
A qualified school is a non-governmental preschool for
handicapped students, or a non-governmental primary
or secondary school located in Arizona. The school
cannot discriminate on the basis of race, color,
handicap, familial status, or national origin. The
primary school begins with kindergarten, and the
secondary school ends with grade 12.
Are there situations where a contribution to a school
tuition organization, as defined in statute, would not
qualify for the tax credit?
Yes. Your donation to the school tuition organization
will not qualify for the credit if you designate the
donation for the direct benefit of your dependent. Your
donation will also not qualify if you designate a student
beneficiary as a condition of your contribution to the
school tuition organization. Additionally, the tax credit
is not allowed if you agree with another person to
designate each other’s contribution to the school tuition
organization for the direct benefit of each other’s
dependent, a practice commonly known as swapping.
May I make credit eligible contributions through
Yes. You may now be able to make credit eligible
contributions to a school tuition organization through
payroll withholding. Check with your employer to see
if your employer has agreed to withhold contributions
that qualify for this credit from your pay.
Click on the link below to get this month’s Quickbooks Quick tip. Check back monthly for more easy, time-saving tricks.
QuickBooks Tip for March 2011: MAKE A STATEMENT!
QuickBooks Helps You Make a Statement
How do you let customers know they owe you money? Probably by sending invoices. And how’s that working for you? If your customers are all conscientious and pay on time, maybe that’s all you need to do. But perhaps you need to consider doing at least part of your billing by dispatching statements. These forms have their drawbacks. For example, you can’t include sales tax or discounts on them. You can’t group related charges and subtotal them. And your customization options are weaker than in invoices.
For more QuickBooks training tips, contact Schutte & Hilgendorf, CPAs, a full service accounting firm providing Prescott and the greater Yavapai County with excellent tax, accounting, auditing, bookkeeping and QuickBooks consulting services. We can be reached at 928-778-0079.