American flag pair and 2020 on a chess board. Horizontal composition with copy space and selective … [+] focus. 2020 presidential elections concept. getty During the 2020 election campaign, President Biden made a number of promises involving changes to the tax code, including expanding the 12.4% Social Security Tax; increasing the top marginal income tax
Taxes
New Tax Things To Know This Year by Nicole Lapin getty There have been a lot of personal changes the past year because of the pandemic. Some of us have moved states and taken on more freelance work. People have had gaps in employment. This all affects what happens with how you file your taxes.
The latest Covid relief bill just blew some minds. getty Congress just put another twist in the never-ending saga that is the 2021 filing season. Democrats are considering a deal to reduce the federal supplemental unemployment benefits in the next Covid relief bill from $400 to $300 per week in return for a slightly longer
Mississippi Gov. Tate Reeves lifted the statewide mask mandate this week. (AP Photo/Rogelio V. … [+] Solis, Pool, File photo June 30, 2020) ASSOCIATED PRESS As Congress gets closer to approving a new round of Covid relief, the proposed $1,400 stimulus checks are likely to make the biggest difference in the pocketbooks of taxpayers in
When winter gives way to spring in the mountains, my garage pays the price. It’s the rare time of years when both bikes and skis are regularly in service, and that leads to one giant mass of boots and poles and pumps and wheels. WASHINGTON, DC – MARCH 04: President Joe Biden, Vice President Kamala
Connecticut passed a Covid-19-relief tax law to help commuters working from home during the … [+] pandemic, just in time for them to file their 2020 tax returns. getty Some 110,000 Connecticut telecommuters will be spared from double taxation on their wage income for 2020, thanks to a Covid-19-relief tax bill that Governor Ned Lamont
Silhouette of mother raising baby girl in the air outdoors against sky during a beautiful sunset getty Expanding the child tax credit was the most prominent tax proposal last month that focused on families raising children, but it wasn’t the only measure with tax implications for children. Sen. Cory A. Booker, D-N.J., reproposed a bill that he originally introduced
Tax Season Shutterstock Traders use various tax forms as the IRS hasn’t created specialized tax forms for individual trading businesses. Traders enter gains and losses, portfolio income, and business expenses on different forms. It’s often confusing. Which form should forex traders use? Which form is correct for securities traders using the Section 475 MTM method?
Chess, Globe – Man Made Object, Strategy, Earth, Global Business getty [Editor’s Note: This article originally appeared in the February 1, 2021, issue of Tax Notes International.] There are two ways to lose a chess match. Under the preferred approach, the player resigns with dignity upon realizing that defeat is inevitable. Checkmate is lurking a few moves
On its face, eligibility for claiming the Employee Retention Credit (“ERC”) seems straightforward – I had to shutdown my business due to a government order so I can claim an ERC. We have all learned over the last few weeks that the devil is in the detail. Essential businesses have an additional hurdle to jump through if