If you are receiving temporary home mortgage relief under the CARES Act or in danger of having your home repossessed, know that any debt relief can have an impact on your taxes. Watch this video to find out more.
Business headlines are dominated by bankruptcies and furloughs, but "our culture's dramatic shift to working from home is the true breakout business story from this pandemic."
ENTREPRENEUR.COM
What the Work-From-Home Boom Means for Your Future
The pandemic has "battered New York City businesses, with almost 6,000 closures" and "a jump of about 40% in bankruptcy filings across the region." The city is bracing for more.
BLOOMBERG.COM
New York Region Sees 40% Bankruptcy Surge, Braces for More
Here is a fun fact for your Friday from Ivy Accounting Tax & Advisors.
The House of Representatives passed a $2.2 trillion coronavirus stimulus plan on Thursday night, even while Democrats and the Trump administration struggle to strike a relief deal.
CNBC.COM
House passes $2.2 trillion Democratic coronavirus stimulus bill
The federal credit for the purchase and installation costs of a residential solar-power system is fading away and will no longer be available after 2021; plus, the credit itself is being reduced.
IVY-CPA.COM
Solar Tax Credit is Sunsetting Soon
"The IRS had a backlog of almost 12 million paper tax returns from individuals and businesses as of Christmas 2020," according to a watchdog report.
CNBC.COM
IRS had a backlog of nearly 12 million paper tax returns by Christmas, says watchdog
Looking for some weekend reading? These four strategic business growth decisions increase revenue, help entrepreneurs scale, and make it possible to withstand the unexpected challenges of running a business.
ENTREPRENEUR.COM
4 Decisions That Will Increase Your Revenue and Business Growth
One of the most valuable pieces of the American Rescue Plan for lower- and middle-income families is the new child tax credit. Here's how to use it to improve your financial wellness.
FORBES.COM
How To Use The New Child Tax Credit To Improve Your Financial Wellness
Some insider tax knowledge from Ivy Accounting Tax & Advisors.
Thanks to some very liberal tax laws written to encourage investment in personal tangible equipment, including information technology (IT) equipment, many businesses will be able to expense (write off as a tax deduction) all such purchases.
IVY-CPA.COM
You Can Expense Business IT Purchases
Have a genius business idea? Not so fast. Before diving right in, be sure to consider these 3 areas: your audience, your competition, and your financial feasibility.
IVY-CPA.COM
How to Evaluate Your Business Idea Before Diving In
