Vast numbers of families in the United States have already received monthly advance Child Tax Credit payments, which will continue through December. You may believe you’re all ready now that you know how much money you’ll get monthly. But how will the changes to the Child Tax Credit affect your tax return in 2021? Should… Continue reading IRS Letter 6419-2020
Freedom is life, there are many reasons why someone may want to be his or her own boss, it can be that you want to manage your time by yourself or that you don’t just want to be answerable to anybody in the office, whatever it is. Being a boss doesn’t come easy, a lot… Continue reading BE YOUR OWN BOSS!
Welcome to the topic Too Busy For Your Taxes? Let Our Tax Experts Do It For You! Every significant task raises the question of whether people should do it themselves or employ a professional. While the growing availability of tax preparation software makes it easier to complete your own taxes, it hasn’t driven CPAs and… Continue reading Too Busy For Your Taxes? Let Our Tax Experts Do It For You!
Welcome to the topic of “Business Use of Home.” During the pandemic, more Americans began to think more about working from home and becoming entrepreneurs in their own right. Putting your thoughts and ideas to action is one thing, but understanding the tax implications are another. Did you know that you can deduct certain home… Continue reading Business Use of Home
Welcome to the topic “Business Entity Comparison.” Let’s face it, now more than ever we are thinking about becoming an entrepreneur in some from. You may have heard the term business entity many times before throughout your journey, but do you know the definition of a business entity? What is a Business Entity? Business entities… Continue reading Business Entity Comparison
American Rescue Plan There were quite a few new laws put into affect with the American Rescue Plan Act of 2021. The following is a brief summary of some key tax provisions. So let’s discuss a few! Employee Retention Credit The new law extends the Employee Retention Credit to wages paid after June 30, 2021… Continue reading American Rescue Plan-2021
Welcome to the topic of “Advance Child Tax Credit Payments.” The Advance child tax credit will provide a well needed relief for many American families. Advance Child Tax Credit will help many families get advance payments of the credit starting this summer. The IRS will pay half the total credit amount in advance monthly payments… Continue reading Advance Child Tax Credit
financial Planning Welcome to the topic “Delving Into Tax Returns.” You may have heard of the importance of tax returns. However, have you really heard of the importance of tax returns? As an adult, we are suddenly thrust into the world of paying taxes and put under many legal limitations without a complete sense of… Continue reading Delving Into Tax Returns
Welcome to the topic Entering The World Of Tax Credits. Tax Credits can be that rope of hope you desperately need to pull yourself out of a sticky situation in pursuit of your dreams. From students to dependents to senior citizens looking to retire – tax credits are beneficial to virtually all kinds of people.… Continue reading Entering The World Of Tax Credits
Welcome to the topic Eligibility Of Different Tax Deductions. Tax deductions – another tax benefit offered for the welfare of the citizens. This is why we must come down to business – what are the different tax deductions out there, and could you be eligible for any of them? To answer this question, however, we… Continue reading Eligibility Of Different Tax Deductions
You undoubtedly want to make your income tax payment as low as possible, whether you’re a business owner or an employee. Deductions are helpful in this situation. Whatever your financial situation is, there are a variety of expenses that you may be entitled to deduct from your taxes. Charitable gifts, mortgage interest, student loan interest,… Continue reading Standard Deduction
Welcome to the topic “Should I Opt For Itemized Deductions?” You have the option of accepting the standard deduction or itemizing your deductions when filing your taxes each year. The standard deduction is a fixed amount that you can deduct each year from your taxable income. This amount varies depending on your tax filing status… Continue reading Should I Opt For Itemized Deductions?
