Opting Out Of The Advanced Child Credit As you may or not be aware, The American Rescue Plan, signed into law on March 11, 2021, expanded the Child Tax Credit for 2021 in order to get more help to more families.  The Plan increased the Child Tax Credit from $2,000 per...

SBA Targeted EIDL Advance and the Supplemental Targeted Advance   As small businesses all across the country attempt to reopen and recover from the pandemic, the SBA has expanded its reach in the form of an Targeted EIDL Advance and a Supplemental Targeted...

Proposed $15,000 First Time Homebuyer Tax Credit The proposed $15,000 first time home buyer tax credit made available through the First Time Homebuyer Act is now officially a bill, heading to Congress.   Under the current verbiage of the bill, this First Time...

More Flexibility For Flexible Spending Accounts Due to the pandemic, the IRS has provided greater flexibility to employee benefit plans offering health flexible spending arrangements (FSAs) or dependent care assistance programs. Under the COVID-related Consolidated...

Changes To The Employee Retention Credit Since the SBA just announced that the Paycheck Protection Program is done for now, it’s time to turn to other benefits for small business owners that are struggling to get back on their feet. Thankfully the Employee Retention...