IRS announces two new online tools to help families manage Child Tax Credit payments…
Clients & friends, today the IRS announced two new online tools families can use to help manage their Child Tax Credit payments. There is now a portal to unenroll from advance payments on the child tax credit. Also note that for those who are married, both spouses will need to unenroll. For all the details, […]
IRS announces further details of tax credits available to help small businesses…
The Internal Revenue Service and the Treasury Department announced further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees receiving COVID-19 vaccinations. The additional details, provided in a fact sheet, spell out some basic facts about the employers eligible for the tax credits. It […]
Small businesses have until May 31 to apply for a forgivable loan
On Tuesday, President Biden signed into law a two-month extension of the Paycheck Protection Program (PPP) one day before the coronavirus relief fund was poised to expire, giving small businesses until May 31 to apply for a forgivable loan. Click here for more details.
Tax Filing Season Begins February 12th!
The IRS has announced that the 2021 tax filing season will begin on Friday, February 12th. Expecting a refund? Click here to read more on how the IRS plans to speed up the refund process amid the pandemic. Make sure to check out their tips for taxpayers below on how to make filing easier: To […]
H&S 2021 Tax Newsletter
[av_textblock size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” id=” custom_class=” av_uid=’av-kjubx7sd’ admin_preview_bg=”] Gratitude. Merriam-Webster defines this word as: the state of being grateful: thankfulness Given the hardships and heartache endured throughout the world over the last year you might find this an odd word to open with for our 2021 tax season communication. But you know […]
H&S 2020 Tax Newsletter
We hope that you enjoyed the holidays and that 2020 is off to a great start! For us, the new year brings a new tax season and a new tax newsletter. Our annual tax newsletter is full of tax law changes and we hope you find it helpful. Please feel free to contact your H&S […]
Times Indicator – Effective Use of Your Retirement Plan or IRA
You’ve worked long and hard for years, saving diligently through your employer-sponsored retirement savings plan. Now, with retirement on the horizon, it’s time to begin thinking about how to tap your plan assets for income. First, evaluate your needs. Estimate your non-negotiable basic needs for things like housing, food and medical care. This is how […]
H&S 2019 Tax Newsletter
We hope that you enjoyed the holidays and that 2019 is off to a great start! For us, the new year brings a new tax season and a new tax newsletter. Our annual tax newsletter is full of many new tax law changes, and we hope you find it helpful. Please feel free to contact […]
Trump Tax Cut Clean Up Signed With $4,900 Personal Exemption
Did you know? Michigan is the first state to enact a law designed to prevent a potential surprise state tax increase of as much as $1.5 billion from President Donald Trump’s tax reform plan. Gov. Rick Snyder signed this legislation, flanked by both legislative leaders and Lt. Gov. Brian Calley on Wednesday. Click here to […]