Jul 20, 2021
From The IRS News – edition IR-2021-79, April 8, 2021 The Treasury Department and the Internal Revenue Service today issued Notice 2021-25 providing guidance under the Taxpayer Certainty and Disaster Relief Act of 2020. The Act added a temporary exception to the...Jul 20, 2021
Practice owners who received grants and subsidies through the CARES ACT or other sources can finally see the light at the end of the tunnel. Here are the remaining steps to take in connection with these grants and subsidies. PPP1 Loan Forgiveness: Most practices...Jul 1, 2021
Various changes were made to the Child Tax Credit and Dependent Care Tax Credit for 2021, including: Dependent Care Expenses qualifying for the dependent care tax credit have increased from $3,000 to $8,000 for one qualifying child and from $6,000 to $16,000 for two...Jul 1, 2021
Is your child working a summer job? If so, check out these basic financial planning tips: If you child’s wages will only be a few thousand dollars this summer, most likely he or she will not be subject to federal income taxes. The standard deduction for single filers...