Tax Updates for 2021

Does it seem like you just did your taxes? Even though you may have filed your individual return during the summer of last year, your 2020 tax return is due on April 15th! There are lots of changes this year,

The IRS Begins Sending October Child Tax Credit (CTC) Payments. There’s Still Time to Sign Up!

Families are now receiving their advance Child Tax Credit (CTC) payment for the month of October. This fourth batch of advance monthly payments, totaling about $15 billion, is reaching about 36 million families today across the country. The majority of payments

Thinking About Withdrawing from Your Roth IRA? Make Sure You Know the Tax Consequences Before You Do!

Some Roth IRA withdrawals are taxable. Even worse, some can be socked with a 10 percent early withdrawal penalty tax, and this can happen even when there’s no income tax hit. Any withdrawals from any of your Roth accounts are

Are Your Company’s Independent Contractors Considered Employees Under the Law?

Millions of American businesses hire independent contractors to perform all types of services. And millions of American workers prefer to work as contractors rather than employees. Indeed, due to the COVID-19 pandemic, it’s likely that more people than ever want

Important Updates to the Massachusetts COVID-19 Emergency Paid Sick Leave Program

An Act extending COVID-19 Massachusetts emergency paid sick leave, H.4127, was signed into law on September 29, 2021.  This legislation modifies the Massachusetts COVID-19 Emergency Paid Sick Leave program in two ways: Extends the program until April 1, 2022 or

What Employers Need to Know When Classifying Workers as Employees or Independent Contractors

An important tax tip from the IRS: It is critical for business owners to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered anyone who performs services, if the business can control

Families Now Receiving September Child Tax Credit Payments

Families are now receiving their advance Child Tax Credit (CTC) payment for the month of September. This third batch of advance monthly payments, totaling about $15 billion, is reaching about 35 million families today across the country. The majority of payments

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