by Betro and Company, PC | Nov 4, 2021 | 2021 Last-Minute Year-End Tax Strategies, Uncategorized
Remember to consider your Section 199A deduction in your year-end tax planning. If you don’t, you could end up with an unsatisfactory $0 for your deduction amount. We’ll review three year-end moves that (a) reduce your income taxes and (b) boost your Section 199A...
by Betro and Company, PC | Nov 1, 2021 | 2021 Last-Minute Year-End Tax Strategies, Uncategorized
Your goal should be to get the IRS to owe you money. Of course, the IRS is not likely to cut you a check for this money (although in the right circumstances, that will happen), but you’ll realize the cash when you pay less in taxes. Here are six powerful business...
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...