Some of the biggest changes to your 2021 tax implications are around the Child Tax Credit, so to understand how they impact you & your family, here’s what you need to know: For those with kids, instead of receiving this credit as part of your tax return as in years past, you’ll now be receiving […]
What Affects Taxes
If you’ve been feeling confused about how your stimulus payments will impact your 2020 Tax Return, this post is for you.
Stimulus checks were provided by the government as an advanced tax credit for your 2020 taxes, and you’ll need to know how much you received (or didn’t) when you file your taxes with us!
When the Covid-19 Pandemic first started, it was unclear how long some people would be out of work. More than half a year later, many individuals in the United States were forced to file for unemployment temporarily. Some people are still receiving unemployment benefits to date. As we prepare for the next tax season, many
So far 2020 has been a year of many unexpected challenges with Covid-19. Many individuals have explored news side jobs and investments as a way to supplement their income. In this article, we take a look at income tax deductions for gig workers in the new “shared economy”. On-demand entrepreneurs (aka “gig workers”) offer a
As the tax deadline for the 2019 filing year quickly approaches, many Americans who have lost income during the COVID-19 pandemic are in a difficult situation. Taxes are due on July 5, 2020, and the additional unemployment benefits are about to expire at the end of July. Many Americans fear if they pay all their taxes they will not be able to provide for their family.
The COVID-19 virus sweeping throughout the nation has put many Americans’ finances in jeopardy. The government has passed the Cares Act to help individuals through this challenging time. Since most workplaces in Pennsylvania are closed, it is important to know the details of the relief plan. How Much Individuals Will Receive At its base, the
There are many reasons why the common person may go to a tax professional to file their taxes. From being too busy to just not wanting to deal with it, the reasons are as numerous as the people themselves. One of the most common reasons, though, is simply because taxes can be difficult for a
If you have recently started driving for a rideshare company, it is important to stay on top of your tax expenses and deductions. Driving for rideshare companies like Uber and Lyft has become a very popular and lucrative way for people to make some extra money on their own time. The IRS sees you as
Though the 2020-21 school year has just begun, it is never too early to start thinking about college plans. If you or someone you know is planning to start college for the year of 2021-22, preparations to get federal student aid through the FAFSA program can begin as soon as October 1st. The FAFSA program
If games of chance such as poker, horse racing, or playing the lottery are among your recreational hobbies, the new gambling tax law brings some minor changes. In this article, we will explore the two biggest impacts of the new tax law. The change that affects the most gamblers is how losses can be deducted.