Options for Extended Care
Did you miss out on the informative webinar on options for extended care. No worries, here is the link to watch when it is convenient for your schedule. Watch Webinar Now!
Retirement Friendly States
States vary widely in the way they tax retirement income so location is an important consideration in financially planning for retirement. Some states don’t levy income states on any sort of retirement income, while others tax IRA and 401(k) distributions, pension payouts and even social security payments like ordinary income. Income taxes are just part [...]
August 4th Webinar on Social Security
August 4th Webinar on Social Security
GROCERY TAX SUSPENSION & STATE SALES TAX HOLIDAY
Grocery Tax Suspension Going on from July 1, 2022, through June 30, 2023 Public Act (P.A.) 102-0700 suspends the state 1 percent (1%) low rate of sales and use tax on retail sales of groceries normally taxed at this rate from July 1, 2022, through June 30, 2023. How does the 1 percent (1%) grocery [...]
An Introduction to Structured Notes
An Introduction to Structured Notes
Understanding Structured Notes
Understanding Structured Notes Whitepaper_1
Payments for the new $3,000 child tax credit start July 15
The IRS is set to begin advanced payments of the enhanced child tax credit (CTC) on July 15, and 88% of families with children in the U.S. will get the benefit automatically, the agency recently announced. The enhanced credit, a component of President Joe Biden’s American Rescue Plan (ARP), increases the existing tax benefit eligible [...]
IRS begins correcting tax returns for unemployment compensation income exclusion
The Internal Revenue Service will begin issuing refunds this week to eligible taxpayers who paid taxes on 2020 unemployment compensation that the recently-enacted American Rescue Plan later excluded from taxable income. The IRS identified over 10 million taxpayers who filed their tax returns prior to the American Rescue Plan of 2021 becoming law in March and [...]
Advance Child Tax Credit Payments in 2021
There have been important changes to the Child Tax Credit that will help many families receive advance payments starting this summer. The American Rescue Plan Act (ARPA) of 2021 expands the Child Tax Credit (CTC) for tax year 2021 only.The expanded credit means:The credit amounts will increase for many taxpayers.The credit for qualifying children is [...]
Eligible Paycheck Protection Program expenses now deductible
The IRS offers guidance on the Revenue Ruling now allowing PPP deductions. Read more directly from the IRS.