News

Many lower- and middle-earning households may pay nothing in income taxes this year

Source: cnbc.com - Apr 28, 2021

A large swath of American households may pay nothing in income taxes for 2021, a new congressional report suggests. Taxpayers with income of less than $75,000 are projected to have, on average, no... Read more >

Category: General Business

53 tax deductions & tax credits you can take in 2021

Source: policygenius.com - Apr 28, 2021

Updated Feb. 5, 2021: It’s tax season! While few people want to pay anything at all, there are ways to pay less. Tax deductions and tax credits can help you save money in tax season 2020.... Read more >

Category: General Business

IRS pushed to crack down on P2P payment apps

Source: accountingtoday.com - Apr 28, 2021

The Internal Revenue Service could be doing more to track unreported income flowing through increasingly popular peer-to-peer payment apps like Venmo and Zelle, according to a new report. The... Read more >

Category: General Business

When will you get the Child Tax Credit for $3,600? When payments could arrive and how often

Source: cnet.com - Mar 26, 2021

Around 37 million stimulus checks are going out this week (track your payment here). And while the third payments for up to $1,400 per eligible person are the most immediate way the government is... Read more >

Category: General Business

Wealth tax, estate tax, capital gains: Here’s how Democrats want to tax the super rich

Source: cnbc.com - Mar 26, 2021

Democrats may soon be raising taxes on the rich, as lawmakers pivot to priorities beyond Covid pandemic relief. A change in the way Uncle Sam taxes the wealth, capital gains and estates of the... Read more >

Category: General Business

Preparing for High Winds: How to Protect a Home from Damage

Source: newjerseyrealestatenetwork.com - Mar 25, 2021

Wind can come in the form of hurricanes, tornadoes, cyclones, microbursts or downdrafts. There are high winds and gusts in some instances that last just a few minutes, and there are sustaining... Read more >

Category: General Business

IRS chief: Unemployment recipients shouldn't file amended tax returns

Source: thehill.com - Mar 19, 2021

IRS Commissioner Charles Rettig said Thursday that recipients of unemployment benefits in 2020 should not be submitting amended federal tax returns during this filing season. "The people who filed... Read more >

Category: General Business

Here’s how homeless Americans can get their $1,400 stimulus check — pass it on

Source: marketwatch.com - Mar 19, 2021

Millions of Americans won’t have to do anything to receive their third stimulus check. It will either automatically be mailed to them or deposited directly into their bank accounts. But... Read more >

Category: General Business

SBA: Over 400,000 PPP Loans Approved in Latest Round

Source: nbcmiami.com - Feb 8, 2021

For more than 10 years, Jonathan Broder said he had seen his South Florida-based business grow. “We’re essentially Uber for lawyers across the country,” Broder said. “Providing attorneys... Read more >

Category: General Business

IRS Answers Family, Medical Leave Credit Questions

Source: accountingweb.com - Feb 8, 2021

The tax credit, which was authorized by the Families First Coronavirus Response Act (FFCRA), was extended and modified by the Consolidated Appropriations Act (CAA) in late December. click source... Read more >

Category: General Business

US Department of Labor issues new rules on employees, independent contractors

Source: elpasotimes.com - Feb 8, 2021

Today’s goal is to make a complicated tax issue simple — and perhaps even interesting. So, let’s see how this goes. Last week, the U.S. Department of Labor issued new regulations governing... Read more >

Category: General Business

Your next stimulus check is just weeks away — will you get the full $1,400?

Source: finance.yahoo.com - Feb 8, 2021

The planned third round of coronavirus stimulus checks is moving through Congress at light speed compared to the draaaaaaaaaaagged-out second batch. Lawmakers played footsie over the last direct... Read more >

Category: General Business

IRS updates FAQs on paid sick leave credit and family leave credit

Source: irs.gov - Feb 5, 2021

IR-2021-26, January 29, 2021 WASHINGTON — The Internal Revenue Service today posted updated FAQs about recent legislation that extended and amended tax relief to certain small- and mid-sized... Read more >

Category: General Business

Restaurants, bars, hotels, retailers post sharp job losses in January as pandemic continues

Source: nola.com - Feb 5, 2021

WASHINGTON — U.S employers added just 49,000 jobs in January, a sign that the coronavirus pandemic retains a tight grip on the economy nearly a year after it triggered a painful recession. The... Read more >

Category: General Business

'Thousands in tax savings' provisions for businesses in new COVID stimulus bill

Source: newsday.com - Feb 5, 2021

At year-end, a 5,593-page bill containing COVID-relief legislation was signed into law that included notable tax provisions for businesses, many of which were either extended or made permanent.... Read more >

Category: General Business