by PTF | Apr 3, 2021 | Individuals, Tax Preparation
Big Increase in Child Tax Credit For 2021 Article Highlights: Additional Credit Amounts Refundability High-Income Phaseout Advance Payments Reconciliation of Advance Payments with Credit Child’s Death Online Portal An increased child tax credit is part of President...
by PTF | Apr 2, 2021 | Individuals, Resource, Tax Preparation
Are Your Unemployment Benefits Taxable? Article Highlights: CARES and COVID Tax Relief Acts Unemployment Benefits American Rescue Plan Tax-Exempt Portion of Unemployment Bogus Forms 1099-G Kiddie Tax and Unemployment States’ Taxation of Unemployment With the passage...
by PTF | Mar 30, 2021 | Announcements, Tax Preparation
IRS Extends Individual Return Filing Date Article Highlights IRS Announcement Limited to Individual Tax Returns Tax Due Payments Further Extensions 2021 Estimated Tax Payments Not Extended The IRS has announced they are extending the filing due date for 2020...
by PTF | Mar 30, 2021 | Individuals, Tax Preparation
Working from Home? Is there a Tax Deduction? Article Highlights: COVID Work from Home Requirements Employee Versus Self-employed Qualifications Actual Expense Method Simplified Method Home Office Expenses for Renters vs. Homeowners How Moving Affects the Home-Office...
by PTF | Mar 29, 2021 | Individuals, Tax Preparation
Understanding Tax-Filing Status Article Highlights: Single Married Filing Jointly Surviving Spouse Married to a Nonresident Alien Head of Household Married Filing Separate Filing status is determined on the last day of the year and most often is based on marital...
by PTF | Mar 27, 2021 | Individuals, Resource, Tax Preparation
Tax Consequences of Crowdfunding Article Highlights: Crowdfunding Sites Gifts Charitable Gifts Business Ventures SEC Registration Crowdfunding Scams Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. A number...
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