Business glance

Microsoft Word class

A class on the use of Microsoft Word, intermediate level, will be presented from 8 a.m. to 4 p.m. Friday at the Arizona Western College Entrepreneurial Center (Room 115), 1351 S. Redondo Center Drive. Liz Davis will be the instructor.

Cost of $99 includes materials and hands-on computer use.

To register, call 317-6150 or go online to www.azwestern.edu/continuinged

Federal funding for emerging technology

The Federal funding for emerging technology workshop will be presented from 8 a.m. to noon Friday at the Arizona Western College 3C Building. It is free.

Register by calling 317-6151.

Greater Yuma Economic Development Corp. and the AWC Small Business Development Center will be hosting Yuma Proving Ground, the Small Business Innovative Research (SBIR) and the Small Business Tech Transfer (STTR) program directors for the presentation. The SBIR and STTR programs have significant federal funds to conduct testing and development. Technology Transfer opportunities can open entirely new industry opportunities for Yuma County; all entrepreneurs and existing business owners are encouraged to attend.

Savvy Medicare planning

Those approaching retirement are invited to a workshop titled Savvy Medicare planning to be offered at 6 p.m. Tuesday at Yuma Main Library, 2951 S. 21st Drive. The workshop, presented by Yuma Investment Group, will be repeated on Feb. 21.

To reserve a seat, call 329-1700. The workshop will cover such topics as when to sign up for Medicare, what it covers, what it costs, whether a secondary insurance will be needed and long-term care.

IRS announces tax-free IRA distribution rules to charities

Certain owners of individual retirement arrangements (IRAs) have a limited time to make tax-free transfers to eligible charities and have them count for tax-year 2012, the Internal Revenue Service announced recently.

IRA owners age 70-1/2 or older have until Thursday (Jan. 31) to make a direct transfer, or alternatively, if they received IRA distributions during December 2012, to contribute, in cash, part or all of the amounts received to an eligible charity.

The American Taxpayer Relief Act of 2012, enacted Jan. 2, extended for 2012 and 2013 the provision authorizing qualified charitable distributions – otherwise taxable distributions from an IRA owned by someone, 70-1/2 or older, paid directly to an eligible charitable organization. Each year, the IRA owner can exclude from gross income up to $100,000 of these QCDs. First available in 2006, this provision had expired at the end of 2011.

The QCD option is available regardless of whether an eligible IRA owner itemizes deductions on Schedule A. Transferred amounts are not taxable and no deduction is available for the transfer. QCDs are counted in determining whether the IRA owner has met his or her IRA required minimum distributions for the year.

Library to have most tax forms

Beginning Friday, the Yuma Main Library, 2951 S. 21st Drive, will have most federal tax forms. A list of income tax resources will be available in English and Spanish. Forms and instructions are also available online at www.azdor.gov (Arizona) and www.irs.gov (Federal).

All libraries in the Yuma County Library District will have state and federal reproducible forms available to make photocopies.

Library staff will assist with Internet searches for forms or instructions. However, they are not trained in tax matters and therefore cannot advise as to which forms to use.

For more information, call (928) 782-1871.

AARP to open free tax office

The AARP volunteer free tax office will open Feb. 4 at 9:30 a.m. at 2451 S. Avenue A, Suite 4B in the Kachina Medical Plaza. The office will be open from 9:30 a.m. to 2 p.m. Mondays through Thursdays; closing sooner if at capacity.

Those seeking tax preparation assistance should bring a photo ID, original Social Security cards or statements for everyone on the tax return, current income documents W-2s & 1099s from all sources for 2012 and last year's tax return. If itemizing, bring needed receipts and summary totals of expenses.

Due to limited staff, the office won't be able to handle any sales of stocks and bonds.