The $1.9 trillion American Rescue Plan that passed in March expanded the Child Tax Credit. For 2021, the child tax credit amount has increased from $2,000 to up to $3,600 annually for children under 6 and up to $3,000 annually…
Rental properties overseas are just like any other asset that you may own. However, there are a few differences. And a couple of them are very important to remember. CALCULATING CAPITAL GAINS ON YOUR RENTAL PROPERTY When you sell your…
Are you selling your primary home? Pre-1997 (yes, I know that was a while back), you needed to invest any gains from the sale of your home into another home to qualify for the tax exclusion. However, today that is…
It seems to be the latest craze and fortunes can be made or lost with the click of a button. Cryptocurrency is a form of digital currency that can be used to buy goods and services and uses online ledgers…
If you are like millions of Americans, your second – or even perhaps your first — stimulus check may not have made its way through the mail to you. The experts at Orlando based CPA Accounting & Tax Services discuss…
The Covid-19 pandemic hit close to the beginning of 2020, with several changes brought on by coronavirus-related legislation that may impact your 2020 tax year filing. As 2020 is now in the books, it’s a good idea to start taking…
What is the Cares Act? The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was created to assist Americans cope with financial hard times due to the COVID-19 outbreak. Under the Cares Act, if you are under retirement age, you…
Children of divorced or separated parents, who claims them on their taxes? So first off, the IRS will give the tax deduction to the person that has the child the most time during the year. It’s important to note, it…
Historically only provided to victims of identity theft! Now an Identity Protection Personal Identification Number (IP PIN) is soon to become the standard in verifying a taxpayer’s identity and will be required for tax filing in the future. What Is…
Perpetuated by the COVID-19 pandemic in 2020, the number of “gig-workers” has increased dramatically. With this increase in the workforce taking on what were once considered side jobs, that were intended to simply supplement income by occasionally driving for Uber…