Feb 10 What To Know About Health Care Credits
A premium tax credit is designed to lower the total cost of health insurance plans that are already relatively expensive in the United States....
Jan 27 Changes in Homeowners’ Deductions for Mortgage Interest and Taxes
What are the rules that apply to deductions for interest payments on mortgages? They can get confusing....
Aug 25 The Inflation Reduction Act: What Does It Contain?
On August 12, Congress passed the Inflation Reduction Act, over 700 pages of economic changes. What does the act do? And just as important, what does it not do?...
Mar 10 IRS Updates Recovery Rebate Credit FAQ
The IRS has updated its Recovery Rebate Credit FAQ, which is organized into eight categories. The full document is available online, but you can find some of the updates below. ...
Jan 19 Lookout for IRS letters in January
With preparations for the next tax season starting there is something important you should be aware of. The IRS will be sending out two letters to taxpayers in January: Letter 6419 - Advance Child Tax Credit Payments Letter 6475 - Economic Impact (stimulus) Payment It is important that you...
May 25 IRS Updates Form 941 To Reflect COVID-19 Tax Credits
Here’s what you need to know to use updated Form 941 for COVID-related tax credits The IRS has revised Form 941, Employer’s Quarterly Federal Tax Return, to accommodate COVID-19-related employment tax credits granted under the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief,...
Jun 27 R&D Tax Credits for Food & Beverage Companies
Companies operating in the food and beverage industry are constantly facing increased costs in raw materials, fuel, and regulatory changes while trying to keep pricing competitive and gain market share. Rising costs can be related to research and development (R&D), which include developing new products...
Oct 10 What You Ought to Know about Affordable Housing
The federal government used to build its own public housing. However, the government banned public housing construction in 1968 and began demolishing many of its buildings in the 1990s. While the direct construction went away, the need for new units did not. The Low...
Nov 22 Moving Up from the Food Truck? Here Are Some Tax Topics to Consider
Starting a food business can be exciting and rewarding. Perhaps you've tested your concept by running a food truck, and now you're ready to move into a bricks and mortar location. Here are some tax planning tips you should take into account before making the...