Deduct 100 Percent of Your Business Meals under New Rules
As a reader, you know that we try to find multiple ways for you to legally deduct 100 percent of your business meal expenses versus the typical 50 percent. Nowe, you have fresh opportunities for writing off 100 percent of your business meals.
ARPA Ends Dreaded Cliff for Health Insurance Premium Tax Credit
If you are self-employed or operate as a corporation, and you can’t get individual health insurance coverage through your spouse (or through Medicare), you can always obtain it through the premium tax credit (PTC) which comes from the Affordable Care Act.
Wow! Married, Filing Separately, May Be the Tax Year 2020 Strategy
On the 2020 tax table, you find tax-free unemployment benefits and three rounds of recovery rebates. And you might find more cash by simply using the married-filing-separately option.
ARPA Liberalizes the Earned Income Tax Credit Rules
The earned income tax credit (EITC) has been around for years. But for some folks, it’s never been worth as much as it will be for 2021.
Starting a New Business? Get Up to $100,000 in Tax-Free Money
Now, thanks to the recently enacted American Rescue Plan Act of 2021 (ARPA), you can qualify for up to $100,000 of ERC in the third and fourth quarters of 2021 if...
Employee Retention Credit: Step-by-Step Example
With the Consolidated Appropriations Act, 2021, millions of small-business owners like you now qualify for the employee retention credit (ERC) thanks to three big changes:
Can You Claim the ERC for the Owner of a C or S Corporation?
Members of the tax community struggle with the “solo corporate owner” qualification for the employee retention credit (ERC).