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Tax Credit Consulting: Qualified Zone Tax Credit Bonds Norfolk NE

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.

Mr. Frank C. Bogacz (RFC®), EA
(402) 551-3423
4715 S. 80th Street
Omaha, NE
Company
Bogacz Tax and Financial Services
Qualifications
Years of Experience: 22
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Long Term Care Insurance, Compensation Plans

Data Provided by:
Mr. Chris E. Nelson (RFC®), CFP
(308) 632-7587
1701 First Avenue
Scottsbluff, NE
Company
Valley Financial Planning
Qualifications
Education: University of Nebraska-LincolnThe Metropolitan State College of Denver, CO
Years of Experience: 16
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Education Plan, Compensation Plans

Data Provided by:
Metro Business & Tax Svc
(402) 330-3655
254 N 114TH St
Omaha, NE

Data Provided by:
Action Tax & Bookkeeping
(402) 397-0761
9105 Bedford Ave
Omaha, NE

Data Provided by:
Liberty Tax Service
(866) 871-1040
15805 W Maple Rd # 106
Omaha, NE

Data Provided by:
Mr. Scott C. Taylor (RFC®), CHFC, CLU
(402) 571-1505
7216 Graceland Drive
Omaha, NE
Company
Midwest Capital
Qualifications
Education: BBA, CLU, ChFC
Years of Experience: 28
Membership
IARFC, MDRT, SFSP, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Mr. Richard A. Strevey (RFC®), CFP
(402) 445-2288
14301 FNB Parkway #306
Omaha, NE
Company
Strevey Financial Services
Qualifications
Education: BS
Years of Experience: 34
Membership
IARFC, MDRT, FPA, NAIFA
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Jackson Hewitt
(402) 933-1230
8413 West Center Rd.
Omaha, NE

Data Provided by:
Jackson Hewitt
(402) 341-9277
1500 North 24th Street, Ste 102
Omaha, NE

Data Provided by:
Guzman Income Tax
(402) 494-6170
112 E 19TH St
South Sioux City, NE

Data Provided by:
Data Provided by:

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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