Advance Child Tax Credit
The IRS announced that the Child Tax Credit for 2021 will be raised to $3,600 for children under 6, and $3,000 for children 6 to 17 years old. As part of the pandemic relief package passed earlier this year, qualified taxpayers will be eligible to receive advance payments on their estimated Child Tax Credit for […]
What you need to know about extending your tax filing
When it comes to taxes, sometimes an extension may make the most sense for you. What is an extension exactly? Essentially, a tax extension gives you six extra months to do your taxes. In a typical tax year without IRS exceptions, this would mean pushing your filing deadline from April 15 to October 15. If […]
Your Last-Minute Tax Filing Checklist
Announced March 17, 2021, the IRS has extended tax day for individuals from April 15 to May 17, 2021. Getting things in order If you’re still working on pulling together all of your information for your 2020 tax filing, it is not too late! We’re sharing a last-minute tax filing checklist to help you get […]
The American Rescue Plan Act of 2021
Last week, President Biden signed the American Rescue Plan Act into law. The bill includes many provisions that have major tax impacts on 2020 and 2021 tax returns. To make sure our clients get the maximum tax benefits they are entitled to, we are holding off the completion of any returns that are impacted by […]
Business Survival Guide for COVID-19 Outbreak
We are facing uncertain times… COVID-19 is forcing all businesses to adjust in a multitude of ways. Many business owners are rightfully concerned what this means for their companies as they navigate this unprecedented period. Our mission is to help you thrive. Consider the provisions listed below to protect your business, employees, and financial future. […]
CARES Act and Other Stimulus for Individuals
We are facing uncertain times… COVID-19 is forcing all businesses and individuals to adjust in a multitude of ways. We all are rightfully concerned what this means as we navigate this unprecedented period. Our mission is to help you thrive. Details are changing rapidly, but below is the latest on what we know. Please share […]
What you need to know about the PA 1099-K audit
Are you confident that your business is keeping good financial records for sales and Use tax? Perhaps you are worried about paying the right taxes when you should be? Our advice is to review how you are collecting, reporting and remitting your sales tax because the state is reviewing sales and Use tax through audits […]
Highlights of the Tax Cuts and Jobs Act
The new tax bill, Tax Cuts and Jobs Act, was signed into law in 2017. The bill makes a lot of adjustments to tax law concerning both small businesses and individuals and aims to reduce tax rates for both groups. Many of the changes for 2018 could alter how you run certain aspects of your business. This […]