Many parents will receive advance tax credit payments beginning July 15
Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC) paymen...
New law tax break may make child care less expensive
The new American Rescue Plan Act (ARPA) provides eligible families with an enhanced child and dependent care credit for 2021. This is the credit avail...
New law: Parents and other eligible Americans to receive direct payments
The American Rescue Plan Act, signed into law on March 11, provides a variety of tax and financial relief to help mitigate the effects of the COVID-19...
Business highlights in the new American Rescue Plan Act
President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. While the new law is best known for the provisions providing rel...
Didn’t contribute to an IRA last year? There still may be time.
If you’re getting ready to file your 2020 tax return, and your tax bill is higher than you’d like, there might still be an opportunity to lower it. If...
2021 Individual Taxes: Answers to your questions about limits
Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. That’s understandable because your...
Many tax amounts affecting businesses have increased for 2021
Many tax amounts affecting businesses have increased for 2021. Some stayed the same due to low inflation. And the deduction for business meals has dou...
Don’t forget to take your required minimum distributions this year
If you have a traditional IRA or tax-deferred retirement plan account, you probably know that you must take required minimum distributions (RMDs) when...
The new Form 1099-NEC and the revised 1099-MISC are due to recipients soon
There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to most recipient...
The IRS announced it is opening the 2020 individual income tax return filing season on February 12. (This is later than in past years because of a new...
Can your business benefit from the enhanced Employee Retention Tax Credit
COVID-19 has shut down many businesses, causing widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls are eligi...
The new COVID-19 relief law that was signed on December 27, 2020, contains a multitude of provisions that may affect you. Here are some of the highlig...
New law doubles business meal deductions and makes favorable PPP loan changes
The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also conta...
