On July 15, the United States will begin distributing monthly checks of up to $300 per child, an expanded child tax credit program that was approved earlier this year. There are no strings attached to these payments—parents will not have to pay back this money later on. It is simply an expanded version of a …
Advance Child Tax Credits Begin Getting Paid Out This Month Read More »
There are a lot of industries that rely on seasonal employees at various points of the year to get through their busy seasons or to take on specialized tasks that only occur at certain times. Summer is one of those times, as student workers need jobs and more outdoor labor occurs throughout the country in …
Financial Implications of Hiring Seasonal Employees Read More »
JobSummer has finally arrived, and with it comes opportunities for seasonal work, including for students who will work a job over the summer while they are off from school. Whether you’re a student working a job ora parent of a student working over the summer, there are some important tax-related considerations for you to keep …
Summer is just about here, and with it comes a season of turbulence for many types of businesses. Some businesses might have their busy season in the summer, some might see a dip in activity. But what’s certain is that summer always poses challenges such as more employees requesting off, greater potential distraction due to …
Getting Your Small Business Financially Prepared for Summer Read More »
For the second year in a row, the Internal Revenue Service gave Americans some extra time to get their taxes filed, largely due to the financial effects of the COVID-19 pandemic. The deadline is coming upquickly in mid-May, so if you’ve been procrastinating getting it done, it’s important to make it a priority now. Here’s …
A Last-Minute Checklist Before You File Your Taxes Read More »
When filing your tax return, you have two options: take the standard deduction, or itemize your deductions. The choice you make depends on which you believe will generate the largest tax return, or resultin the smallest amount of money owed to the government. There are some advantages and disadvantages associated with taking the standard deduction. …
The Pros and Cons of Taking the Standard Deduction Read More »
For the second year in a row, the U.S. Treasury Department and Internal Revenue Service extended the tax filing deadline for individuals, due to the COVID-19 pandemic. The federal income tax filing deadline for individuals for the 2020 tax year is now May 17, 2021, rather than April 15, 2021. According to IRS Commissioner Chuck …
The April deadline for filing your taxes will be here sooner than you know it. While it’s always beneficial to get all of your paperwork in as soon as possible, sometimes you might find yourself in need of a bitof extra time to get it done. Fortunately, the IRS does offer opportunities for taxpayers to …
Itwas a rough start to the year for Texans, who dealt with highly unusual temperatures, weather conditions and rolling blackouts that quickly became dangerous. Many people’s homes suffered significant damage as a result of the weather conditions. In the wake of such circumstances, it’s important to take advantage of any type of financial relief you …
Deducting Home Damage Caused by Natural Disasters Read More »
It may still be February, meaning you have a couple months left to get your tax return in, but why wait? There are a number of reasons why it would be beneficial for you to file your taxes early and get the process over with. Here are just a few of the biggest benefits to …
