Our office is closed for the rest of the day due to the storm. Please be safe Middletown.
Here's some motivation for your Monday from SC Associates
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.
Let's get the weekend started. Friday from SC Associates
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.
SCASSOC.NET
Solar Tax Credit is Sunsetting Soon
Some Wednesday Wisdom from your friends at Middletown based SC Associates
The SBA has released yet another simplified application for PPP loan forgiveness: SBA Form 3508S. This form can only be used if the total PPP loan amount received by the borrower from their lender was $50,000 or less.
SCASSOC.NET
The SBA Issues a Simplified PPP Loan-Forgiveness Application
If you have lost your job, there are a number of tax issues you may encounter. How you deal with these issues can profoundly impact your taxes and finances. Watch this video to learn more about some typical issues.
It's go time! Middletown based SC Associates has some motivation for you today.
Learn about taxes from your friends at Middletown based SC Associates.
Are you an investor in stocks, bonds, mutual funds, etc.? If so, when you sell those securities, you will undoubtedly want to minimize your gains or maximize your losses for tax purposes. To do that, you'll need to know your tax basis in the investment (asset), which makes it important to keep track of the basis in all your investments.
SCASSOC.NET
Are You Keeping Track of Your Investment Basis?
SC Associates - Some Monday Motivation for our friends and colleagues.
Some insider tax knowledge from SC Associates.
Health insurance premiums, including Medicare parts B, C, and D; hospitalization; long-term care; and dental costs are all tax deductible, and are subject to AGI limitations if you itemize your deductions. If you are self-employed, including some partners, or a more-than-2% S corporation shareholder, you may be able to deduct the premiums without itemizing and without AGI limitations.
SCASSOC.NET
There is More to Deducting Health Insurance than Meets the Eye
Start your week on the right foot with Monday Motivation from SC Associates
First, there was the usual April 15th deadline. Then, there was July 15th. If you filed for an extension, your deadline was October 15th - and now that date has come and gone. What happens now if you missed it?
SCASSOC.NET
What Happens if I Missed the October 15th Tax Extension Deadline?
Some insider tax knowledge from SC Associates.
Operating a SMB is hard work - and it's vital to know the financial health of your business at any time. Whether you're assembling your financial reports yourself or have hired professional help (like us), here are 12 metrics that can help you monitor your success.
SCASSOC.NET
12 Financial Metrics Small Business Owners Should Track
To say COVID-19 has made 2020 a disastrous year for just about everyone would be an understatement. However, 2020 has given rise to more than the usual tax-planning opportunities. Thus, you may find it appropriate to schedule a tax-planning appointment well before the close of the year to take advantage of the tax benefits and strategies available for 2020.
SCASSOC.NET
Don't Miss Out on Year-End Tax-Planning Opportunities
Thank you to one of my long-term clients, Rhesa, for this great review! You can view this review at: https://www.countingworks.com/professionals/delaware/middletown/sharron-cirillo-pa-cfe-aba-atp/reviews #Middletown
Thank you to one of my long-term clients, Rhesa, for this great review! You can view this review at: https://www.taxbuzz.com/find-the-best-accounting-bookkeeping-help/delaware/middletown/sharron-cirillo-pa-cfe-aba-atp/reviews #Middletown
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SC Associates Accounting
October 28 at 11:19 AM ·
Here is some midweek Wednesday Wisdom inspiration from your friends at SC Associates
Here's your tax fact of the week from your friends at SC Associates.
Proud to receive great reviews from happy clients such as JAMES! Thank you for placing your trust in us. You can view this review at: https://www.taxbuzz.com/find-the-best-accounting-bookkeeping-help/delaware/middletown/sharron-cirillo-pa-cfe-aba-atp/reviews
Tap into your full potential. Wednesday Wisdom from SC Associates
The IRS has warned taxpayers of a clever scheme by internet scammers to dupe taxpayers into revealing their bank account information under the guise of receiving the $1,200 Economic Impact Payment.
SCASSOC.NET
Beware of New Text Scam Related to Stimulus Payments
A little inspiration from SC Associates to start your week.
Your Friday tax fact from Middletown based SC Associates.
To say COVID-19 has made 2020 a disastrous year for just about everyone would be an understatement. However, 2020 gives rise to more than the usual tax planning opportunities. Watch this video to learn about these possibilities.
If you plan to start a new business, there are a number of decisions and possible elections you can make that will influence what form of business you select and how you decide to deduct costs. These choices can affect the tax outcome of your business for years to come.
SCASSOC.NET
New Business? Tax Issues to Consider
An individual must have compensation in order to contribute to an IRA. However, a non-working or low-earning spouse is allowed to contribute to his or her own IRA based upon the compensation of the working spouse. Watch this video to learn more.
Looking for a sign? Here's your Monday Motivation from Middletown based SC Associates
For those who love learning: here's a tax fact from SC Associates.
The SBA U.S. Small Business Administration (SBA) has initiated a compliance program to evaluate the good-faith certification that borrowers made on their PPP Borrower Applications related to need for the loans due to economic uncertainty as a result of COVID-19. This program will apply to borrowers whose loans are $2 million or more.
SCASSOC.NET
SBA Questioning PPP Borrowers with Loans Over $2 Million
Make your Monday great with this motivation from SC Associates
We all have our favorite game shows such as Wheel of Fortune, The Price is Right, and Let's Make A Deal, and we love to have the contestants win big. Unfortunately, those winnings are taxable on the contestant's state and federal tax returns. See what can happen by watching this video.
Did you receive an IRS CP2000 notice (also known as an underreporter inquiry) in the mail? First step: Contact our office. Second step: Don't panic. We'll help you through the whole process.
SCASSOC.NET
What Happens if I Receive an IRS CP2000 Notice?
Let's get the weekend started. Friday from SC Associates
It is a common practice this time of year for employers to give their employees gifts. Where a gift is infrequently offered and has a low fair market value, it would be treated as a de minimis fringe benefit. As such, it would be tax-free to the employee, and its cost is tax deductible by the employer.
SCASSOC.NET
Employee Holiday Gifts May Be Taxable
The U.S. Small Business Administration (SBA) has initiated a compliance program to evaluate PPP borrowers whose loans are $2 million or more. Watch this video for more info on how your business can be better prepared.
End of week tax fact from SC Associates
Some Wednesday Wisdom from your friends at Middletown based SC Associates
Some folks have been tapping or suspending their retirement savings to make ends meet during this COVID-19 pandemic, and although understandable, it is important to resume savings as quickly as financially possible. Still others have simply been ignoring the need to save for their retirement, which can have an unpleasant result when it comes time to retire. Many tax-benefitting retirement options are available.
SCASSOC.NET
Don't Fall Behind in Saving for Retirement
Small business owners: as we inch closer to the end of the year, it's a great time to be thinking about tax planning strategies for your business. Here are some ideas that can be beneficial at any time of year.
SCASSOC.NET
Preparing for 2021: Tax Planning Strategies for Small Business Owners
If you use workers other than employees to perform services for your business and pay them $600 or more for the year, you are required to issue each of them a Form 1099-NEC after the end of the year to avoid facing the loss of the deduction for their labor and expenses.
SCASSOC.NET
Your Annual Reminder to File Worker 1099s
Thank you for giving our #tax and #accounting team another 5-star review. We are here to help! You can view this review at: https://www.taxbuzz.com/find-the-best-accounting-bookkeeping-help/delaware/middletown/sharron-cirillo-pa-cfe-aba-atp/reviews #Middletown
It matters how you get there. Wednesday Wisdom from SC Associates
The holiday season is customarily a time to give gifts, whether to your favorite charity, family members or others. Some gifts even provide a variety of tax benefits but be on the lookout for holiday gift-giving scammers.
SCASSOC.NET
Year-End Gift Giving with Tax Benefits
A little inspiration from SC Associates to start your week.
If you sold your home this year or might do so in the near future, you should be aware of the many tax-related issues that could apply to that sale so that you will be prepared at tax time and not have to deal with unpleasant surprises.
SCASSOC.NET
Sold or Thinking of Selling Your Home?
Gambling is a recreational activity enjoyed by individuals. Nevertheless, there are far more tax issues related to gambling than you might expect. Watch this video for a quick overview.
It matters how you get there. Wednesday Wisdom from SC Associates
It seems hard to believe, but the holiday season is almost upon us, and that means that the tax preparation season for 2020 returns will soon follow. With the end of the tax year just weeks away, it may be appropriate (especially this year, in light of the financial havoc created by COVID-19) to review some year-end tax issues that might reduce your tax bite for 2020 or provide long-term tax benefits.
SCASSOC.NET
Tax Issues to Be Aware of as Year-end Approaches
Employee or independent contractor? This distinction decides whether your business issues a W-2 or 1099-NEC form to a specific wage earner. Here's everything you need to know about these forms and your annual wage reports.
SCASSOC.NET
W-2 or 1099-NEC: Which Form Should Your SMB Use for Which Workers?
For those who love learning: here's a tax fact from SC Associates.
Unless a taxpayer qualifies for an exception, distributions from a traditional IRA are both taxable and subject to a 10% early withdrawal penalty. After reaching age 72, a taxpayer must begin taking minimum required distributions or they are subject to a 50% under-distribution penalty.
SCASSOC.NET
IRA Withdrawal Planning Can Save on Taxes
A little inspiration from SC Associates. Wednesday Wisdom
The economic impact payments are a credit on your 2020 tax return. However, Congress mandated that the payments be made in advance, based on the prior year's tax return information, to provide financial assistance to individuals and families struggling during the initial outbreak of COVID-19. Needless to say, this created confusion as to who qualified for the payments, leading to errors and omissions.
SCASSOC.NET
Didn't Get Your Economic Impact Payment? You Can Claim It on Your 2020 Return.
It matters how you get there. Wednesday Wisdom from SC Associates
After months of political bickering, Congress is finally passing a new COVID relief bill. Watch this video for a summary of what you can expect from this relief package.
For low- and moderate-income workers, the saver's credit can be used to offset part of the first $2,000 workers can voluntarily contribute to an IRA or their employer's qualified retirement plan. It helps individuals who don't normally have the resources to set money aside for retirement and is available in addition to the other tax benefits associated with retirement plan contributions.
SCASSOC.NET
Saver's Credit Can Help You Save for Retirement
This is our annual reminder for you to file worker 1099s if you use workers other than employees to perform services for your business.
SCASSOC.NET
Video: Annual Reminder to File Your Worker 1099s
Congress has reached an agreement on an emergency coronavirus relief bill which provides additional stimulus payments, extends unemployment benefits and provides another round of forgivable PPP Loans for small businesses.
SCASSOC.NET
Help Is on the Way - Emergency Coronavirus Relief Agreement Reached
Many individuals are taking advantage of the historically low home-loan interest rates to buy their first home, sell their existing home to move up to a more expensive one, or refinance their existing mortgage. Some who currently own their homes free and clear are even taking out loans to lock in the low interest rates.
SCASSOC.NET
What Are the Tax Advantages of Home Ownership?
After several months of the Republicans and Democrats bickering, they have finally passed COVID-related tax relief and the President has signed the bill.
SCASSOC.NET
Finally, The COVID Relief Package Is Law
Here's some motivation for your Monday from SC Associates
It matters how you get there. Wednesday Wisdom from SC Associates
After months of political bickering, Congress is finally passing a new COVID relief bill. Watch this video for a summary of what you can expect from this relief package.
Here's some motivation for your Monday from SC Associates
Wednesday Wisdom and SC Associates = Success
Many individuals are taking advantage of the historically low home-loan interest rates to buy their first home, sell their existing home to move up to a more expensive one, or refinance their existing mortgage. Some who currently own their homes free and clear are even taking out loans to lock in the low interest rates.
SCASSOC.NET
What Are the Tax Advantages of Home Ownership?
After several months of the Republicans and Democrats bickering, they have finally passed COVID-related tax relief and the President has signed the bill.
SCASSOC.NET
Finally, The COVID Relief Package Is Law
Here's some motivation for your Monday from SC Associates
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
https://www.countingworks.com/blog/introducing-the-countingworks-top-100-professionals-of-2020
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
Some insider tax knowledge from SC Associates.
Great news for 2021 and 2022 only. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 allows businesses to deduct 100%, instead of just 50%, of business meal expenses meeting certain requirements.
SCASSOC.NET
Increased Business Meal Deductions for 2021 and 2022
Are you planning to buy your first home, upgrade from your existing one, or refinance your mortgage? Let's take a look at some tax advantages and drawbacks of homeownership.
Get inspired. Some Wednesday Wisdom from Middletown based SC Associates
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
https://www.countingworks.com/blog/introducing-the-countingworks-top-100-professionals-of-2020
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
Breaking: The IRS is delaying the beginning of the 2020 tax season to February 12, 2021
CNBC.COM
IRS delays start of tax filing season to Feb. 12
SC Associates - Some Friday tax knowledge for our friends and colleagues.
Congress has authorized a second PPP loan draw but has generally limited the applicability to small businesses with 300 employees or fewer that suffered a 25% or more reduction in gross revenue during any quarter in 2020.
SCASSOC.NET
Congress Has Authorized a Second Round of PPP Loans
Here is some midweek Wednesday Wisdom inspiration from your friends at SC Associates
The recent COVID-related tax relief legislation, passed late in December, extends and enhances deductions for cash charitable contributions.
SCASSOC.NET
Charitable Contributions Deduction Liberalized for 2021
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
https://www.countingworks.com/blog/introducing-the-countingworks-top-100-professionals-of-2020
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
Some insider tax knowledge from SC Associates.
IRS opens up the use of ID verification tax filing numbers to taxpayers nationwide as a means of protection against filing fraud. These numbers must be applied for and identities verified before issuance.
SCASSOC.NET
IRS Offers New Identity Protection for Taxpayers
Wednesday Wisdom from your friends at SC Associates
President-Elect Biden released his "American Rescue Plan" on January 14. It is a wish list of proposals he wants Congress to enact to address the COVID-19 pandemic and associated economic crisis.
SCASSOC.NET
How Biden's Rescue Plan Might Impact Your Taxes
Set yourself up for success with Monday Motivation from SC Associates
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
https://www.countingworks.com/blog/introducing-the-countingworks-top-100-professionals-of-2020
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
As tax time approaches, here are some tax issues that taxpayers frequently overlook, ranging from obscure deductions to overlooked tax credits and benefits. These items can save you a significant amount of taxes.
SCASSOC.NET
Obscure and Overlooked Tax Deductions, Credits, and Benefits
A little inspiration from SC Associates. Wednesday Wisdom
PPP loans, payroll tax deferrals, the CARES Act, remote work - all of these are major topics to keep in mind as you file your 2020 business tax return. Here's a full breakdown.
SCASSOC.NET
4 Questions Business Owners Should Consider During the 2020 Tax Season
A little inspiration from SC Associates to start your week.
December's COVID Tax Relief Act provided more than extended unemployment relief and stimulus payments. See a summary of the benefits and if any of them applies to you.
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
https://www.countingworks.com/blog/introducing-the-countingworks-top-100-professionals-of-2020
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
If you were a victim of a major natural disaster, the Taxpayer Certainty and Disaster Tax Relief Act of 2020 has special rules about retirement plan and IRA distributions, retirement plan loans, how to compute disaster losses, and relief for non-itemizers. Employers may qualify for a new employee-retention credit.
SCASSOC.NET
Tax Relief for Victims of 2020 Natural Disasters
SC Associates has the motivation you need to get going this Monday.
Here are the business tax due dates for February 2021.
SCASSOC.NET
February 2021 Business Due Dates
Here are the February 2021 individual tax due dates:
SCASSOC.NET
February 2021 Individual Due Dates
SC Associates - Some Friday tax knowledge for our friends and colleagues.
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
https://www.countingworks.com/blog/introducing-the-countingworks-top-100-professionals-of-2020
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
Thanks for another great 5-star review! We are glad that our #tax team could help you with what you needed. We are here to help anyone in the local area. Please don't hesitate to reach out. You can view this review at: https://www.taxbuzz.com/find-the-best-accounting-bookkeeping-help/delaware/middletown/sharron-cirillo-pa-cfe-aba-atp/reviews
It's always nice to get 5-star reviews from our clients. Thank you again for the kind words. Our #tax and #accounting team are here to deliver nothing but the best service to our clients. You can view this review at: https://www.taxbuzz.com/find-the-best-accounting-bookkeeping-help/delaware/middletown/sharron-cirillo-pa-cfe-aba-atp/reviews
A little inspiration from SC Associates to start your week.
The Internal Revenue Service recently issued the 2021 optional standard cents-per-mile rates for business, medical and moving purposes. Watch this short video to see if the new rates will affect your business.
SC Associates - Some Friday tax knowledge for our friends and colleagues.
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
https://www.countingworks.com/blog/introducing-the-countingworks-top-100-professionals-of-2020
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
SC Associates - Some Friday tax knowledge for our friends and colleagues.
The Employee Retention Credit has been extended through June 30, 2021, and significantly liberalized.
SCASSOC.NET
Employee Retention Credit Extended
It matters how you get there. Wednesday Wisdom from SC Associates
The Consolidated Appropriations Act, 2021, which was passed late last December, included a very tax-beneficial provision that liberalized the interaction between PPP loans and the Employee Retention Credit.
SCASSOC.NET
Interaction between PPP Loans and the Employee Retention Credit
We are proud to receive compliments from our friend Elana. Thanks for choosing us and please come again! You can view this review at: https://www.taxbuzz.com/find-the-best-accounting-bookkeeping-help/delaware/middletown/sharron-cirillo-pa-cfe-aba-atp/reviews
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
https://www.countingworks.com/blog/introducing-the-countingworks-top-100-professionals-of-2020
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
Before deciding to get involved in a joint venture, business owners need to carefully assess how they plan to proceed. Here's a breakdown of what a joint venture really is.
SCASSOC.NET
What Is a Joint Venture?
According to the Department of Labor, $36-$63 billion in improper unemployment payments have been made during the pandemic. If you receive a 1099-G for benefits you didn't receive, you may be a victim of fraud. Here's what to do.
SCASSOC.NET
Unemployment Fraudsters May Create a Tax Nightmare for Unsuspecting Taxpayers
Here is a fun fact for your Friday from SC Associates.
Here are the March 2021 Business due date reminders:
SCASSOC.NET
March 2021 Business Due Dates
Most taxpayers think they have to itemize their deductions to claim them on their tax returns. However, that is not entirely true. There are certain deductions that can be claimed while still using the standard deduction.
SCASSOC.NET
Tax Deductions Without Itemizing
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
https://www.countingworks.com/blog/introducing-the-countingworks-top-100-professionals-of-2020
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
Some insider tax knowledge from SC Associates.
Mom and pop businesses with fewer than 20 employees are given a 2-week exclusive application period for PPP Loans.
SCASSOC.NET
Mom & Pop Businesses Move to Front of the Line for PPP Loans
It matters how you get there. Wednesday Wisdom from SC Associates
Money raised from online crowdfunding sites for purposes other than business is generally treated as a nontaxable gift if the contribution is made with detached generosity, but this can raise some unexpected gift tax issues. Raising money for business endeavors is generally governed by the U.S. Securities and Exchange Commission Rules, and the tax issues depend on what the contributor receives in return.
SCASSOC.NET
Tax Consequences of Crowdfunding
A little inspiration from SC Associates to start your week.
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
https://www.countingworks.com/blog/introducing-the-countingworks-top-100-professionals-of-2020
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
Wednesday Wisdom from your friends at SC Associates
Required minimum distributions (RMDs) were suspended in 2020 due to the COVID-19 outbreak. However, barring any future extension of the suspension, RMDs will resume in 2021.
SCASSOC.NET
Required Minimum IRA Distributions Will Resume in 2021
Because of the pandemic, the people who normally rely on the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC) to make ends meet are adversely affected. To assist them, Congress came up with a special way to calculate the two credits for 2020.
Make your Monday great with this motivation from SC Associates
Congress came up with a special way to calculate the EITC and the child tax credit for 2020 that may be very beneficial for taxpayers whose income from working declined in 2020.
SCASSOC.NET
Special Rules Apply to 2020 EITC and Child Credit
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
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SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
Tax reform brought good news and bad news regarding the home-office deduction. The good news is that it is still allowed for self-employed taxpayers, but the bad news is that it is currently not available for employees even when they are required to work from home during the COVID pandemic.
SCASSOC.NET
Working from Home? Is there a Tax Deduction?
We often hear freelancers and gig workers discuss the freedom that comes with their career path, but going solo also creates complications in your finances. Here are 7 personal finance tips that can benefit anyone working in the freelance economy.
SCASSOC.NET
7 Personal Finance Tips for Freelancers and Gig Workers
Analyzing overtime costs is an important strategic step in determining when to hire new workers and improve efficiency.
SCASSOC.NET
Analyzing Overtime Costs: A Strategic Step for HR
It's go time! Middletown based SC Associates has some motivation for you today.
Because of the pandemic, many have been forced to work from home for the past year. A frequent question is do they qualify for a special tax deduction for using their home as a workplace?
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
https://www.countingworks.com/blog/introducing-the-countingworks-top-100-professionals-of-2020
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
Rover.com was founded a decade ago at Seattle's Startup Weekend event, and the company has been wildly successful ever since. Here's the full story of how this pet care website came to be.
SCASSOC.NET
The Inspiring Story of the Team Behind Rover.com
Here's some motivation for your Monday from SC Associates
The American Rescue Plan has passed, bringing great news for those who are unemployed. Watch this video for a summary of the expansion and changes to the unemployment benefits in 2021.
Let's get the weekend started. Friday from SC Associates
With the passage of the American Rescue Plan Act, Congress has substantially increased the child tax credit for 2021 and directed the IRS to establish an advance payment program for the last 6 months of the year.
SCASSOC.NET
Big Increase in Child Tax Credit For 2021
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
https://www.countingworks.com/blog/introducing-the-countingworks-top-100-professionals-of-2020
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
Here's your tax fact of the week from your friends at SC Associates.
The IRS has announced they are extending the filing due date for 2020 individual tax returns from April 15, 2021, to May 17, 2021, but with some limitations.
SCASSOC.NET
IRS Extends Individual Return Filing Date
Great news if you are paying childcare expenses that enable you to work. As part of President Biden's American Rescue Plan Act, the child and dependent care tax credit has been substantially increased for 2021.
SCASSOC.NET
Great News, Child Care Tax Credit Expanded for 2021
Transform your life. Wednesday Wisdom from SC Associates
Tax season is here. What if you end up owing tax to the IRS and can't pay them immediately? This video will discuss a few options to consider when you don't have the funds to pay all of your tax liability.
We are thankful for our clients that allow us to support our communities! Very humbled by these awards! https://www.taxbuzz.com/blog/announcing-the-taxbuzz-top-100-professionals-of-2020
https://www.countingworks.com/blog/introducing-the-countingworks-top-100-professionals-of-2020
SCASSOC.NET
Middletown, DE Tax Preparation & Accounting | SC Associates
Some insider tax knowledge from SC Associates.
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.
SCASSOC.NET
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.
SCASSOC.NET
How to Evaluate Your Business Idea Before Diving In
Here are the April 2021 business due date reminders:
SCASSOC.NET
April 2021 Business Due Dates
Transform your life. Wednesday Wisdom from SC Associates
