Gig Economy Income or the gig economy is also referred to as the on-demand, sharing, or access economy. People involved in the gig economy earn income as a freelancer, independent worker or employee. Typically, an online platform is used to connect people with potential or actual customers to provide goods or services. Examples include renting […]
A new form is available for self-employed individuals to claim sick and Family Leave Tax Credit under the Families First Coronavirus Response Act (FFCRA). The FFCRA, passed in March 2020, allows eligible self-employed individuals who, due to COVID-19, are unable to work or telework for reasons relating to their own health or to care for […]
PPE Qualifies for Deduction | Rex Crandell Firm As a quick reminder, the purchase of personal protective equipment, such as masks, hand sanitizer, and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus are deductible medical expenses. The amounts paid for personal protective equipment are also eligible to be paid or reimbursed […]
Below you will find the important information you need to know about Tax Due Dates April 2021! If you have any questions or concerns regarding Tax Due Dates April 2021, or if you missed these deadlines – contact Rex Crandell Firm today at 925-934-6320 April 12 Employees who work for tips – If you received $20 […]
On March 12, following the American Rescue Plan Act’s approval and signing, the IRS began sending out the third round of Economic Impact Payments. Most payments were sent out via direct deposit, but approximately 150,000 checks were mailed by the Treasury Department as well. Taxpayers who received EIP1 or EIP2 but didn’t receive a third […]
American Rescue Plan Act Highlights Signed into law on March 11, 2021, the American Rescue Plan Act (ARPA) contains several tax provisions affecting individuals and families. Economic Impact Payments (EIP3). A third round of economic impact payments (EIP3) will be sent to qualifying taxpayers; individuals will receive $1,400 ($2,800 for married taxpayers filing jointly) plus […]
The Federal Tax Deadline Extended for individual taxpayers, including individuals who pay self-employment tax, to Monday, May 17, 2021, for the 2020 tax year. There is no need to file any forms to qualify for this automatic federal tax filing and payment relief. Individual taxpayers will automatically avoid interest and penalties on the taxes paid […]
Although tax season usually starts in late January, this year, the tax filing season is delayed until February 12, 2021.
While there have always been payment options available from the IRS to help taxpayers struggling to pay tax debts, the new IRS Taxpayer Relief Initiative was put into place to expand these options and offer relief during the pandemic.
Everyone wants to save money on their taxes, and older Americans are no exception. If you’re age 50 or older, here are five tax tips that could help you do just that.
