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Donating a Car To Charity as a Tax Write-Off - April 2021 (Money)
If you donate a car to a qualified charitable organization and intend to claim a deduction, you should be aware of the special rules that apply to vehicle donations.Charities typically sell do...
Mukesh Makker
Personal Protective Equipment Qualifies for Deduction - April 2021 (Money)
As a quick reminder, the purchase of personal protective equipment, such as masks, hand sanitizer, and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus are deductible ...
Mukesh Makker
Coronavirus-Related Distributions and Loans - April 2021 (Money)
The Coronavirus, Aid, Relief, and Economic Security (CARES) Act made it easier to access savings in IRAs and workplace retirement plans for those affected by the coronavirus. This relief provided favo...
Mukesh Makker
Self-Employed Can Claim Sick & Family Leave Tax Credit - April 2021 (Money)
A new form is available for self-employed individuals to claim sick and family leave tax credits under the Families First Coronavirus Response Act (FFCRA). The FFCRA, passed in March 2020, allows elig...
Mukesh Makker
Include Gig Economy Income on Tax Returns - April 2021 (Money)
The gig economy is also referred to as the on-demand, sharing, or access economy. People involved in the gig economy earn income as a freelancer, independent worker or employee. Typically, an online p...
Mukesh Makker
PPP Loan Deadline Extended Through May 31 - April 2021 (Money)
The Paycheck Protection Program Extension Act of 2021 was signed into law on March 31, 2021, extending the deadline to apply for a loan by an extra 60 days, from March 31 to May 31, 2021. The law also...
Mukesh Makker
Q & A: The $10,200 Unemployment Tax Break - April 2021 (Money)
Generally, unemployment compensation received under the unemployment compensation laws of the United States or a state is considered taxable income and must be reported on your federal tax return. How...
Mukesh Makker
Economic Impact Payments: Round Three - April 2021 (Money)
On March 12, following the American Rescue Plan Act's approval and signing, the IRS began sending out the third round of Economic Impact Payments. Most payments were sent out via direct deposit, but a...
Mukesh Makker
Highlights of the American Rescue Plan Act - April 2021 (Money)
Signed into law on March 11, 2021, the American Rescue Plan Act (ARPA) contains several tax provisions affecting individuals and families. Let's take a look:Economic Impact Payments (EI...
Mukesh Makker
Federal Tax Deadline Extended To May 17 - April 2021 (Money)
The federal income tax filing due date for individual taxpayers, including individuals who pay self-employment tax, has been extended to Monday, May 17, 2021, for the 2020 tax year. There is no need t...
Mukesh Makker

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