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Tax Credit Consulting: Qualified Zone Tax Credit Bonds Fairmont WV

The interest rate on the Bonds is established daily by the Treasury Department. The Companies that receive the bonds receive their interest in the form of a tax credit that may be claimed on IRS Form 8860.

Edwin Landis
60 West Street Suite 404
Annapolis, MD
Company
Title: Financial Consultant
Company: Landis Financial Services
Type
Investment Advisor Rep: Yes
Education
Michigan State University/ BA
Service
401k Rollover From Employer,Income for Life/ Preserve Principal,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,Stock Market Alternative,Medicaid,Retirement Planning,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Ind

Data Provided by:
H&R Block
(304) 366-3728
32 TYGART VALLEY MALL
WHITE HALL, WV

Data Provided by:
H&R Block
(304) 265-2662
12 BLUE Ave
GRAFTON, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
827 Fairmont Rd
Morgantown, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
128 Emily Dr
Clarksburg, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
911 Country Club Rd
Fairmont, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
103 N Pike St
Grafton, WV

Data Provided by:
Tax Tech
(304) 296-1040
990 Fairmont Rd Ste C
Morgantown, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
735 Chestnut Ridge Rd
Morgantown, WV

Data Provided by:
Mr. Gregory R. Metcalf (RFC®), RFP
(307) 723-5018
200 Ivy St
Weirton, WV
Company
Horizon Financial Group
Qualifications
Education: Ohio University, BBA FinanceCollege for Financial Planning's CFP Certification Professional Education Program
Years of Experience: 15
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, Asset Protection

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Tax Credit Consulting: Qualified Zone Tax Credit Bonds

Qualified Zone Tax Credit Bonds

Qualified Zone Tax Credit Bonds are a special type of tax credit available to banks, insurance companies, and other corporations actively engaged in lending money.

The Qualified Zone Tax Credit Bonds are also called Qualified Zone Academy Bonds, or QZABs. The credit was authorized by various pieces of tax legislation. The last one was the Working Families Tax Relief Act of 2004 which extended the program through 2005 with December 31, 2007 as the last day to issue bonds authorized in 2005. Qualified Zone Tax Credit Bonds are geared toward helping to provide financing for schools in low income areas.

The Government begins the program cycle by allocating around $400 million dollars in bonding authorization to the various States. This bonding allocation is determined based on the number of people in the State that are at the poverty level. The poorest States get the most allocation. Next, the State through its various qualified school districts issues bonds that may be purchased by Banks, Insurance Companies, or Corporations that engage actively in the business of lending money.

The interest rate on the Bonds is established daily by the Treasury Department. The Companies that receive the bonds receive their interest in the form of a tax credit that may be claimed on IRS Form 8860. The school districts that issue the bonds are not involved in the tax credit, of course, so the actual way of viewing their advantage is to understand that the Qualified Zone Academy Bonds are interest free bonds to the issuer.

The purchaser of the bonds receives interest, however. The interest is received in the form of the tax credit that may be taken directly off the taxes owed. The one disadvantage to the Qualified Zone Academy Bonds is that the benefit has no carry over and carry back provisions. The credit must be taken during the year it applies to or it is lost. This is not too much of a deterrent to most large lending institutions that wi...

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