The American Rescue Plan Ended the “Cliff” for the Health Insurance Premium Tax Credit.

With the passage of the American Rescue Plan Act of 2021 (ARPA), Congress has temporarily abolished the health insurance premium tax credit “subsidy cliff.” For 2020 and 2021, self-employed and small-business owners and other individuals who must purchase individual health

Face Masks and other PPE to Prevent COVID-19 are Tax Deductible!

The IRS issued guidance clarifying that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus are deductible medical expenses. The amounts paid for personal protective

PPP Loan Recipients: Take Advantage of the Employee Retention Credit Retroactively!

Before the December 27, 2020, enactment of the new COVID-19 relief law, you may have chosen the Paycheck Protection Program (PPP) loan and given no thought to the employee retention credit. Remember, under the original law, you had to choose

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