If you have searched everywhere you can think and still haven’t been able to locate your W-2, we have good news: there are still steps for you to take. Continue reading to discover the steps to take if you have lost your W-2 and how to go about recovering a new copy. Plus, tips on […]
Read MoreWith May 17th come and gone, you might be wondering what your options are regarding receiving an extension on your taxes in New Jersey. Continue reading to discover your options regarding applying for an extension on your taxes in New Jersey after May 17th, 2021. If you require assistance with taxes, accounting, or consulting services, […]
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For 2021 only, the American Rescue Plan Act (ARPA) of 2021 expands the Child Tax Credit. This change may help families receive advance payments coming up this summer. Expanding the Child Tax Credit means that the credit for qualifying children is fully refundable. This means that taxpayers can benefit from the credit if they do […]
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To help taxpayers, the IRS announced today that it will take steps to automatically refund money this spring and summer to people who filed their tax returns reporting unemployment compensation before the recent changes made by the American Rescue Plan. The legislation, signed on March 11, allows taxpayers who earned less than $150,000 in modified […]
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As we all know, letters from the IRS are seldom welcome, for oftentimes, we fear the worst–even if we didn’t do anything wrong. “Did I make a mistake?” “Did I forget to file something?” These are all valid questions that come to mind upon seeing an envelope from the Internal Revenue Service in our mailbox. […]
Read MoreThe Treasury Department and IRS 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 will be providing formal guidance in the coming days. Individual taxpayers can also postpone federal income tax payments for […]
Read MoreThis document provides a brief summary of key tax provisions contained in the American Rescue Plan Act, H.R. 1319, which was signed into law on March 11, 2021. Recovery Rebates/Economic Impact Payments The act creates a new Sec. 6428B that provides individuals with a $1,400 recovery rebate credit ($2,800 for married taxpayers filing jointly) plus […]
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Regardless of your age or financial standing, it is never too early to create a comprehensive financial plan. Even if you do not consider yourself as having significant assets to create such a plan, the truth is, you most likely have far more than you think. The bottom line is that creating a financial plan […]
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There are few businesses that deserve more respect than restaurants, especially in these unprecedented times. Through the pandemic, restaurant owners have grappled with hurdle after hurdle, and though over the summer there appeared to be a light at the end of the tunnel, this is no longer the case as COVID cases skyrocket to numbers […]
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CARES Act Sec provides that a recipient of a PPP loan may use the loan proceeds to pay payroll costs, certain employee benefits relating to healthcare, interest on mortgage obligations, rent, utilities, and interest on any other existing debt obligations. If a PPP loan recipient uses their PPP loan to pay those costs, they can […]
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