Big Changes with the Child Tax Credit – Including an Advance Payment
Stop! Don’t know where to start when it comes to claiming the Child Tax Credit? Take our short quiz to find out. The American Rescue Plan Act of 2021 really helped many taxpayers with 2020 Federal income taxes. But there are also tax changes for the tax year 2021 that will impact many taxpayers. One…
Read MoreA Tax Update on Third Stimulus and Unemployment: Your Questions Answered
We know that many of you have burning questions about unemployment benefits and the American Rescue Plan, including how they affect taxes and what is the relationship between the third stimulus and unemployment benefits. Here are answers to some of the questions you’ve asked about the third stimulus, unemployment extension, and their tax implications. How…
Read MoreMake a Powerful Plan for Your Tax Refund & Stimulus Check
We are in the thick of tax season, and the House recently approved a new stimulus bill. This is great news for many people, especially considering the average tax refund is around $2,500, and the expected stimulus check for a four-person household is up to $5,600. If you missed a previous stimulus payment, filing taxes…
Read MoreWhat Is Adjusted Gross Income?
It’s that time of year when you hear tax terms being tossed around, whether on the news, at work by the HR Department, or over coffee with friends. But what exactly do all these terms mean? A commonly used term is Adjusted Gross Income or AGI. What is AGI, and how do you calculate it?…
Read MoreTexas and Oklahoma: Three Reasons to File Taxes Soon, Even Though the IRS Deadline is Now June 15
Dear Texas and Oklahoma members, We know you’re out of the worst of the storm now, and we also know the damage that remains is real. We want to share some resources where you can get help if you need it: 211.org for help with bills Red Cross for family assistance You may have heard…
Read MoreWhat’s in the Third Stimulus Bill Other than Checks?
While the third stimulus payment — which we just wrote about — is a hot topic for Americans right now, there’s actually a lot more to the American Rescue Plan. Here are some of the additional benefits you could get from the relief package. Additional Support to Families In addition to stimulus payments, the American…
Read More3rd Stimulus Check Eligibility: Who Gets the Third Stimulus Check?
The American Rescue Plan is a $1.9 trillion relief package to help alleviate the hardship that millions of Americans feel right now— including checks directly to families and individuals like you. Here are the details about who qualifies for the third stimulus checks. Visit our other blog post for more details about other benefits. What…
Read MoreCan’t Wait for Your Tax Refund? Here’s Everything You Need to Know About Refund Advance Loans
Tax time is an important time for most families. You find out if you’re getting a tax refund. And this year, that assistance is more valuable than ever. For all of those who are wondering, the IRS will start sending out tax refunds in early March. If you anticipate that you will receive a refund…
Read MoreThree Reasons to File Taxes This Year — Even if You Don’t Owe Money
Tax season is underway, but with COVID-19 affecting millions of families across the country, from job losses to medical issues, filing taxes may not be at the top of your minds. This year, more than ever, it’s important to file your taxes, especially if you lost work or haven’t received your full stimulus funds. The…
Read MoreThe 4 Most Common Tax Errors You Should Watch Out For
It would be nice if we could have a simpler way to meet our tax obligations. But this is the system we have, and unfortunately errors are quite common. Let’s review some common errors that you should look out for. 1. Data Entry Errors The IRS provides a list of common errors. The most common…
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