For Self-Employment Tax, You Cannot Exclude Any Income You Earn While Abroad. If you are a self-employed U.S. citizen or resident, the rules for paying self-employment tax are generally the same whether you are living in the United States or abroad. In other words, you must pay self-employment tax on all of your net profit,… [Read More]

Oct. 15 deadline approaches for taxpayers who requested extensions to file 2020 tax returns. Taxpayers can file now and schedule their federal tax payments up to the October 15 due date. Daniel Ahart Tax Service® prepares all tax returns, helps solve tax problems, and prepares back taxes. 22 Area Locations in Georgia. Although October 15… [Read More]

Child Tax Credit payments will continue through the end of the year. Millions of American families currently receive monthly advance Child Tax Credit payments either through direct deposit or paper check. These payments represent half of the increased Child Tax Credit from the American Rescue Plan and will continue through the end of the year…. [Read More]

Immigrant taxpayers contribute to Georgia’s bottom line. One in ten Georgia residents is an immigrant, while 7 percent of residents are native-born U.S. citizens with at least one immigrant parent. As immigrants start businesses, buy homes, earn wages and spend disposable income at local businesses, they generate considerable state and local tax revenue regardless of… [Read More]

Is It Time to Digitize Your Small Business Bookkeeping? Financial statements are necessary for the everyday operation of a business. If you keep your own books, you need to have a good understanding of accounting principles, know how to calculate profit and loss accurately, and understand the various types of cash-flow spreadsheets. Conversely, if you… [Read More]

According to Nerdwallet, families that are working and hit some requirements could pocket up to $18,000 as a tax credit, this is an example for a family with two children. It comes as families will receive an additional stimulus payment from July 15 under Joe Biden’s child tax credit expansion plans. When can families expect their payments?… [Read More]

Tax Treatment of Unemployment Compensation The Internal Revenue Service (IRS) announced (IR-2021-71) on March 31, 2021 that it would take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan. Please keep in mind that unemployment compensation… [Read More]

The enhanced tax credit is part of the $1.9 trillion American Rescue Plan that President Joe Biden signed into law in March. This new benefit is available to children 17 and under in families with 2020 adjusted gross income less than $75,000 for single parents and $150,000 for a married couple filing jointly. The enhanced… [Read More]