by ABIP | Apr 2, 2021 | News, Newsletter, Taxes
Q & A: The $10,200 Unemployment Tax Break Generally, unemployment compensation received under the unemployment compensation laws of the United States or a state is considered taxable income and must be reported on your federal tax return. However, a new tax break...
by ABIP | Apr 1, 2021 | COVID-19, News, Newsletter
PPP Loan Deadline Extended Through May 31 The Paycheck Protection Program Extension Act of 2021 was signed into law on March 31, 2021, extending the deadline to apply for a loan by an extra 60 days, from March 31 to May 31, 2021. The law also gives the Small Business...
by ABIP | Mar 12, 2021 | COVID-19, News, Newsletter
American Rescue Plan Act of 2021 President Biden signed the American Rescue Plan Act of 2021 (ARPA) into law on Thursday afternoon. This $1.9 trillion stimulus package contains extensions to unemployment, direct stimulus payments, provisions for small businesses,...
by ABIP | Mar 2, 2021 | News, Newsletter
Unemployment Benefits Identity Theft Scam Alert During 2020, millions of taxpayers were impacted by the COVID-19 pandemic through job loss or reduced work hours. Some taxpayers who faced unemployment or reduced work hours applied for and received unemployment...
by ABIP | Mar 1, 2021 | News, Newsletter
Capital Gains Tax on Sale of Stocks Apps like Robinhood make it easy for everyone to play the stock market. If you’re a retail investor who made money last year buying and selling stocks, you may owe capital gains tax when you file your tax return this year. If...
by ABIP | Feb 27, 2021 | News, Newsletter
Tax Breaks for Families with Children If you have children, one or more of these tax credits and deductions could help your family reduce the amount of tax owed. Let’s take a look: 1. Child Tax Credit Generally, taxpayers can claim the Child Tax Credit for each...
