2021 Tax Information

When the COVID-19 pandemic started hitting Americans hard in spring 2020, and many businesses were required to close locations, some were hit harder than others. Restaurants, bars and entertainment venues were impacted most seriously of all, because aside from delivery services, they couldn’t work remotely...

This is the second of two tax tips providing an overview of ways the American Rescue Plan may affect some people’s 2021 taxes. You can read part one here. Changes expanding EITC for 2021 and beyond New law changes expand the EITC for 2021 and future years....

The American Rescue Plan has introduced changes to these key 2021 tax credits related to child and dependent care which can be a valuable way to lower your tax obligations. Child & Dependent Care Credit Increased for 2021 Only In 2021 the amount of the child credit...

The latest COVID-19 relief bill has become law. The American Rescue Plan Act, was signed by President Joe Biden on Thursday and it contains several tax provisions which may impact your freelance taxes. Below is a summary of the key tax implications to be aware of: 2020...

On Monday, February 22, President Biden announced an important new opportunity for micro-businesses to more easily access the Paycheck Protection Program (PPP) which provides loans to businesses who have experienced a loss of revenue due to the COVID-19 pandemic. The changes, which create a 14-day...

One of the key provisions of the new HEALS Act is a second round of the Paycheck Protection Program (PPP) loans. On January 9, the Small Business Administration (SBA) released its application for businesses to apply to receive “PPP2” funding. There is more than $284...