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ssAdmin 2021 child tax credit, EITC, and premium tax credit limits updated The IRS on Monday issued adjusted amounts for the child tax credit, the earned income tax credit (EITC), and the premium tax credit (PTC) for 2021, to reflect changes enacted in the American Rescue Plan Act of 2021, P.L. 117-2 (Rev. Proc. 2021-23 ). … Read more
The pandemic pushed us forward. Let’s keep evolving Continue the changes you’ve made into 2021 and beyond. A close friend of mine had a slight stroke, and it changed his life for the better. He immediately made changes to his lifestyle, eating, and exercise habits. Today, he is healthier, happier, and more productive. All of … Read more
3 Reasons to Move Forward with Automated Payments Technology There’s an old proverb that says, “The cobbler’s kids go barefoot.” Many CPA firms offer great financial management advice to clients, but are slow to act on process changes that can improve the firm’s bottom line. Manual billing and AR processes are recognized pain points for … Read more
Are You the Right Tax Professional for That New Client? At the end of the day, building relationships with our clients and helping them succeed is our goal. These are just a few of the ways we like to ensure each client that comes to us is the right fit for their needs and ours. … Read more
3 Tips for a Less Taxing Tax Day This Mental Health Month Tax Day in 2021 coincides with Mental Health Month — and while that’s almost certainly a coincidence, it’s a coincidence that certainly feels apt. This won’t be lost on already under-the-gun tax professionals, for whom the lead-up to the filing … Tax Day … Read more
Industry News: Expenses paid with 2020 PPP loans can be deducted on 2021 tax returns Expenses paid with 2020 PPP loans can be deducted on 2021 tax returns The IRS announced a safe harbor for certain businesses that received first-round Paycheck Protection Program (PPP) loans but did not deduct any of the original eligible … Read more
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