by Steven J Weil, PhD, EA, LCAM | Jun 11, 2021 | Blog, Business Tax, Personal Tax
Below is a list tax bills introduced in Congress for which bill text became available between June 3 and June 10, 2021. The bill text for each bill can be accessed by clicking on the bill number. Individuals: H.R.2304 – Save Social Security Act of 2021. To...
by Steven J Weil, PhD, EA, LCAM | Jun 2, 2021 | Blog, Personal Tax
You open your mailbox and see a “scary” looking letter addressed to you from the IRS. It’s a notice of payment due. What should you do? Do not automatically assume the letter is correct and submit payment to make it “go away”. There have been many recent tax law...
by Steven J Weil, PhD, EA, LCAM | Jun 2, 2021 | Blog, Personal Tax
The idea of saving for retirement is drilled into our heads. 401(k)s or IRAs are where we stock away funds as we prepare for the day we say goodbye to the workforce. But did you know, the government actually requires you to take money out of those accounts once you...
by Steven J Weil, PhD, EA, LCAM | May 18, 2021 | Blog, Personal Tax
But beware as these payments may have strings attached. IRS set to start mailing advice “Child Tax Credit”, CTC. Qualifying parents with children younger than 6 will begin receiving $300.00 per child for children under 6 years of age per month, and $250 each for...
by Steven J Weil, PhD, EA, LCAM | Apr 30, 2021 | Blog, Personal Tax
𝗜𝗻 𝗮 𝗯𝗹𝗼𝘄 𝘁𝗵𝗲 𝗺𝗮𝗹𝗲 𝘀𝗮𝗺𝗲 𝘀𝗲𝘅 𝗺𝗮𝗿𝗿𝗶𝗲𝗱 𝗰𝗼𝘂𝗽𝗹𝗲𝘀 𝘄𝗮𝗻𝘁𝗶𝗻𝗴 𝘁𝗼 𝗵𝗮𝘃𝗲 𝗮 𝗯𝗮𝗯𝘆 𝘁𝗵𝗲 𝗜𝗥𝗦 𝗵𝗮𝘀 𝗶𝘀𝘀𝘂𝗲𝘀 𝗣𝗿𝗶𝘃𝗮𝘁𝗲 𝗟𝗲𝘁𝘁𝗲𝗿 𝗥𝘂𝗶𝗻𝗴 𝟮𝟬𝟮𝟭𝟭𝟰𝟬𝟬𝟭. The ruling limits medical deductions to, only medical costs directly attributable to the couple. According to the IRS the couple could deduct, as...
by Steven J Weil, PhD, EA, LCAM | Mar 11, 2021 | Blog, Covid-19, Personal Tax
Today the the President signed the American Rescue Plan Act of 2021 and it is now the law of the land. The House passed the American Rescue Plan Act of 2021 yesterday, March 10, 2021, and it is became law when signed by the the President today March 11th, 2021. What...
