Usually File a Joint Return? There’s Still Time to Consider Another Strategy!
If you are married, most likely you’ve always filed a joint tax return with your spouse. Most of the time, a joint return shows less overall tax than two separate …
Some Tax Refunds are Being Delayed by the IRS.
The IRS is holding nearly 30 million tax refunds for manual processing. Recent COVID-19 relief legislation passed by Congress threw a monkey wrench into an already complicated year. Additionally, the …
Tax Credits are Available to Small Employers to Provide Paid Leave to Employees Receiving COVID-19 Vaccines
The Internal Revenue Service and the Treasury Department announced further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees …
There’s Less than a Month Left Before Your 2020 Income Taxes are Due. Don’t Miss Out on these Tax Credits!
For tax year 2021, Congress is giving away billions of dollars in additional tax credits on your Form 1040 individual tax return. These temporarily expanded tax credits include the child …
The Earned Income Tax Credit is Higher than Ever Before!
The earned income tax credit (EITC) has been around for years. But for some folks, it’s never been worth as much as it will be for 2021. That’s thanks to …
What Made the Cut in the New COVID Stimulus Bill?
After months of debate, the next COVID-19 stimulus bill has been finalized. President Biden signed the bill into law on Thursday. One very conspicuous absence is the measure to increase …
Thinking About Forming a New LLC or Corporation? You Need to Know About the Corporate Transparency Act!
If you’ve formed a limited liability company (LLC) or corporation to operate your business or are thinking about doing so, you need to know about the Corporate Transparency Act. Enacted …
Tax-Smart College Saving Strategies for Parents. Start 2021 on the Right Path!
College is expensive. Data for the 2019–2020 academic year indicates that the average cost of tuition, fees, room, and board was $30,500. Tax law has provisions to help you cover …
IRS Extends Economic Impact Payment Deadline to November 21
From irs.gov: The Internal Revenue Service announced that the deadline to register for an Economic Impact Payment (EIP) is now November 21, 2020. This new date will provide an additional …
IRAs and the SECURE Act. Should You Change Your Strategy?
Last December, the imaginatively named Setting Every Community Up for Retirement Enhancement (SECURE) Act became law. The SECURE Act was intended mainly to expand opportunities for individuals to increase their …