New child care tax break may make care less expensive
The new American Rescue Plan Act (ARPA) provides eligible families with an enhanced child and dependent care credit for 2021; in other words, parents are getting a much-needed child care tax break. This is the credit available for expenses a taxpayer pays for the care of qualifying children under the age of 13 so that […]
Covid-related health care benefit deadline extensions
The U.S. Department of Labor (DOL) recently issued EBSA Disaster Relief Notice 2021-01, which is of interest to employers. It clarifies the duration of certain Covid-19-related health care benefit deadline extensions. Health care benefit deadline extensions to continue The DOL and IRS issued guidance last year specifying that the Covid-19 outbreak period — defined as […]
7 Dashboards CFOs Can’t Live Without
Top CFOs are using these dashboards – are you? Organizations with access to real-time data are 5 times as likely to make decisions faster than peers. Data visualization helps financial leaders predict future business conditions, reduce costs, and mitigate risk. Download our eBook to discover the dashboards you should be using.
Estimated tax payment deadline for 2021 is coming up
The 2020 individual tax return deadline has been moved from April 15 to May 17, 2021, but the first quarterly estimated tax payment deadline is still April 15, 2021, for those who are required to make one. You may have to make estimated tax payments if you receive interest, dividends, alimony, self-employment income, capital gains, […]
Tax deadline extended tax to May
The IRS has announced that the federal income tax deadline for individuals to file for the 2020 tax year is extended from April 15, 2021, until Monday, May 17, 2021. The IRS extended the deadline to provide relief to taxpayers facing challenges as a result of the pandemic and because it’s grappling with a rising […]
American Rescue Plan Act provides sweeping relief
The American Rescue Plan Act (ARPA) was signed into law by President Biden on March 11, 2021. The $1.9 trillion law is intended to provide far-reaching relief from the economic and other repercussions of the ongoing COVID-19 pandemic. In addition to funding for testing, contact tracing, vaccinations, education, and state and local governments, the ARPA […]
Create a strategic road map – forecasted financials can set the stage
The ability to go above and beyond when serving customers is key to any business’s success. But are you putting the same level of care and attention to the needs of you business? One key way to do this – especially as we start a new year – is by developing a full set of […]
The American Rescue Plan Act has passed: What’s in it for you?
Congress passed the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic that has haunted the country for the last year, and on March 11, President Biden signed the 628-page American Rescue Plan Act (ARPA), which includes $1.9 trillion in funding for individuals, businesses, and state and local governments. The ARPA […]
Recent changes may impact retirement savings laws
If you’re approaching retirement, you’ve got to be aware of any changes to retirement savings laws. After all, you probably want to ensure the money you’ve saved in retirement plans lasts as long as possible. If so, be aware that a law was recently enacted that makes significant changes to retirement accounts. The SECURE Act, […]
Home office deductions: Could you qualify?
During the Covid-19 pandemic, many people are working from home. If you’re self-employed and run your business from your home or perform certain functions there, you might be able to claim home office deductions for expenses against your business income. There are two methods for claiming this tax break: the actual expenses method and the […]