by Betro and Company, PC | Apr 10, 2021 | Uncategorized
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. That’s thanks to liberalizations included in the new American Rescue Plan Act (ARPA). Some of the favorable changes are only for...
by Betro and Company, PC | Apr 10, 2021 | Uncategorized
The new American Rescue Plan Act (ARPA) makes major, but temporary, changes to the federal income tax child and dependent care credit (CDCC). Except for when it comes to high-income taxpayers, the changes are all favorable. To understand the changes, let’s first...
by Betro and Company, PC | Apr 10, 2021 | Uncategorized
For the 2021 tax year only, the new American Rescue Plan Act (ARPA) makes big, taxpayer-friendly changes to the federal income tax child tax credit (CTC). Here’s what you need to know, starting with some necessary background information. CTC Basics For 2018-2020 and...
by Betro and Company, PC | Apr 10, 2021 | Uncategorized
If you are married, most likely you’ve always filed a joint tax return with your spouse. Most of the time, a joint return shows less overall tax than two separate tax returns, because the married- filing-separately status has many tax disadvantages. But fast-forward...
by Betro and Company, PC | Apr 10, 2021 | Uncategorized
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. You simply...
