The Biggest Winners and Losers in President Biden’s Proposed Individual Tax Plan

🖨 Print⏱ 3 min readPresident Biden presented his $1.8 trillion American Families Plan, which focuses on expanding benefits for education, children and childcare. The Biden administration intends to pay for the plan with a series of tax hikes on certain … Continue reading →

🖨 Print⏱ 3 min readThe Child Tax Credit as we know it originated during the Clinton administration, but the recently enacted American Rescue Plan created a new version. The updated version of this tax credit could have a beneficial impact … Continue reading →

🖨 Print⏱ 3 min readThe recently passed American Rescue Plan (ARP) Act of 2021 includes a provision making nearly all student loan forgiveness tax-free, at least temporarily. Before the ARP, student loan forgiveness was tax-free only under special programs. Before … Continue reading →

🖨 Print⏱ 3 min readGood tax professionals ask the right questions to ensure they understand your situation and can help you to the best extent the law allows. Given the host of pandemic-related tax changes for 2020, it’s good to … Continue reading →

🖨 Print⏱ 5 min readIn late December, Congress passed the Consolidated Appropriations Act, which in addition to providing COVID-19 relief provisions also included many tax provisions and extenders. The Act contained many COVID-related tax provisions, as well as a slew … Continue reading →

🖨 Print⏱ 4 min readWhile excise or vice taxes have long been a part of the American tax landscape related to alcohol and cigarettes, the recent invention of vaping and legalization of marijuana and other substances is changing the landscape. … Continue reading →

🖨 Print⏱ 3 min readThe Social Security Administration recently announced 2021 increases to both benefits and the taxable wage base for FICA taxes. Increases Announced for 2021 Workers are facing a 3.7 percent increase in the taxable wage base subject to … Continue reading →