Especially following the work-from-home days of the pandemic, many workers are seeing perks of being self-employed. Owning your own business means making your own hours, setting your own standards and expectations, being your own boss, and having a limitless income. …
As the year comes to a close, it is time to start thinking about 2021 taxes. Every year, individuals as well as small businesses neglect to take full advantage of deductions and ways to save on taxes. However, following these…
Last March, as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), employers were presented with the Paycheck Protection Program (PPP) Loan and the Employee Retention Credit (ERC) as relief options to help their businesses in unprecedented…
In the past, the child tax credit has been intended to provide support for each child of American taxpayers. Following the past year, however, one in which many families have faced financial struggle, the American Rescue Plan has expanded that child tax credit in an unprecedented way.
On Friday, December 22, 2017, the Tax Cuts and Jobs Act was signed into law. The following tax law changes are effective for tax years beginning after December 31, 2017, unless otherwise noted. INCOME TAX FOR BUSINESSES There are several…