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]
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Immigrants in Georgia Have Contributed Billions of Dollars in Taxes
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]
8 Super Effective Tips for Managing Your Company’s Payroll
Establishing Good Efficient, And Accurate Work Practices Throughout Your Organization Even though all areas of a business organization must meet certain stringent requirements, there is one area that is inherently bogged down with a long complex chain of detailed labor laws and governmental compliance issues: that area is Payroll. With that said, payroll is responsible… [Read More]
Every Small Business Deserves a Great Bookkeeping Service
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]
Fourth Stimulus Check Could Be Sent Out AUTOMATICALLY
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… [Read More]
Unemployment Compensation Is Taxable
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… [Read More]
Remember Families Need to File a 2020 Tax Return in Order to Get the Child Tax Credit
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]
More than 2.3 Million Payments Have Gone Out From the IRS
Even if you already got your third stimulus check, it’s possible that you can get an additional check. The IRS is sending out additional payments to people who didn’t get quite as much of the stimulus payment as they were meant to. About 1395 billion in payments have been made overall since the American Rescue… [Read More]
You May Qualify for Additional Help with Food and Bills
Disaster Financial Assistance with Food, Housing, and Bills During the COVID-19 pandemic, you may qualify for additional help with food and bills. Learn about mortgage and rental relief. What Disaster Financial Assistance is available? COVID-19 Stimulus Checks for Individuals – The American Rescue Plan Act of 2021 provides $1,400 Economic Impact Payments for people who… [Read More]
What to Do if I Receive a Letter from the IRS?
What taxpayers should do if they get a letter or notice from the IRS Your notice or letter will explain the reason for the contact and give you instructions on how to handle the issue. If you agree with the information, there is no need to contact the IRS. Note: As explained on the IRS… [Read More]
