When President Biden signed the American Rescue Plan Act of 2021 in the spring, two refundable payroll tax credits were extended and expanded: the Families First Coronavirus Response Act (FFCRA) and the COBRA Premium Assistance Credit. In 2020, the FFCRA was mandated for all employers with less than 500 employees to provide paid family and […]

In early August of this year, the IRS released additional guidance on the Employee Retention Credit.  For 2021, the credit was expanded to allow businesses to receive a credit of up to $7,000 per employee per quarter if their operations were fully or partially shut down by government order or if they had a significant […]

Investing has become much more accessible since Robinhood became a thing.  But do you know what a wash sale is and how it will impact your tax return? You have a stock, it dips, and you sell it thinking “Hey, I can use this loss on my tax return AND buy XYZ back at a […]

Have you ever wondered why gains are separated between long-term and short-term when you receive your 1099 at tax time? There is a very good reason for that, and one you might want to consider more carefully when investing. Short-term capital gains are derived if you hold an investment one year or less before disposing […]

The short answer to this question is: of course!  As cryptocurrency has become a more popular investment vehicle among younger investors, this is a good question and one that is getting more attention from the IRS. Buying and selling crypto, just like buying and selling a share of Tesla, is taxed as a capital gain.  […]