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Who qualifies for “head of household” tax filing status?

Who qualifies for “head of household” tax filing status?

Apr 13, 2021 | Blog, Individual Taxes, Tax Law, Taxes

When you file your tax return, you must check one of the following filing statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Who qualifies to file a return as a head of household, which is more favorable...
Tax advantages of hiring your child at your small business

Tax advantages of hiring your child at your small business

Apr 7, 2021 | Blog, Small Business Taxes, Tax Law

As a business owner, you should be aware that you can save family income and payroll taxes by putting your child on the payroll. Here are some considerations. Shifting business earnings You can turn some of your high-taxed income into tax-free or low-taxed income by...
New law tax break may make child care less expensive

New law tax break may make child care less expensive

Mar 30, 2021 | Blog, Community, Individual Taxes, Tax Law

The new American Rescue Plan Act (ARPA) provides eligible families with an enhanced child and dependent care credit for 2021. This is the credit available for expenses a taxpayer pays for the care of qualifying children under the age of 13 so that the taxpayer can be...
Tax Day for individuals extended to May 17, 2021

Tax Day for individuals extended to May 17, 2021

Mar 19, 2021 | Blog, Individual Taxes, Tax Law, Taxes

IR-2021-59, March 17, 2021 WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS...
Business highlights in the new American Rescue Plan Act

Business highlights in the new American Rescue Plan Act

Mar 17, 2021 | Blog, Small Business Taxes, Tax Law

President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. While the new law is best known for the provisions providing relief to individuals, there are also several tax breaks and financial benefits for businesses. Here are some of the tax...
If you run a business from home, you could qualify for home office deductions

If you run a business from home, you could qualify for home office deductions

Mar 8, 2021 | Blog, Small Business Taxes, Tax Law, Taxes

During the COVID-19 pandemic, many people are working from home. If you’re self-employed and run your business from your home or perform certain functions there, you might be able to claim deductions for home office expenses against your business income. There are two...
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Recent Posts

  • Who qualifies for “head of household” tax filing status?
  • Tax advantages of hiring your child at your small business
  • New law tax break may make child care less expensive
  • Tax Day for individuals extended to May 17, 2021
  • Business highlights in the new American Rescue Plan Act

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