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Temporary Changes to the Child and Dependent Care Credit
Temporary Changes to the Child and Dependent Care Credit The American Rescue Plan Act (ARPA) includes major, but temporary, changes to the...
Vacation Home Usage has Tax Implications
Do you own a vacation home that’s classified as a rental property for tax purposes? Rental property owners may be tempted to use their rental...
Prenuptial Agreements as an Estate Planning Tool
Prenuptial agreements and domestic law vary from one state to another but nearly every state has laws that prevent one spouse from entirely...
The Tax Implications of Closing a Schedule C Business
Unfortunately, many businesses have already been forced to close their doors due to the economic fallout from COVID-19, and more will surely follow....
Which Start-Up Costs Are Deductible for Federal Tax Purposes
Many people started businesses in 2020, and many others plan to launch new ventures in 2021. Entrepreneurs often have questions about whether...
You May Be Eligible for COVID-Related Tax Breaks for 2020 if you are Self-Employed
If you’re self-employed as a sole proprietor, partner, or limited liability company (LLC) member, COVID-relief legislation passed in 2020 included...
COVID-19 Relief: An Overview of the New American Rescue Plan Act
On Thursday of last week, President Joe Biden signed the $1.9 trillion coronavirus relief package, entitled the New American Rescue Plan Act, into...
The 2021 Income Tax Filing Deadline has been Extended to May 17, 2021
The IRS and the U.S. Department of Treasury announced yesterday that the 2021 income tax filing deadline has been extended from April 15, 2021, to...
Your New Electric Vehicle is a Tax Break
Are you in the market for a new vehicle? If you jump on the electric vehicle bandwagon, you might be eligible for a sizable federal income tax...
