Accounting and Tax Updates

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Child Tax Credit FAQ

What is the Child Tax Credit? How much is it? Do I qualify? Should I unenroll from advance payments?

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Lemonade from Lemons

Lemonade from LemonsWith the recent losses in the equity market as well as other investments such as crypto, now may be a good time to realize tax losses.  Below is a brief Q&A on tax loss harvesting.  Please work with your financial advisor to look holistically at your portfolio.  Please don’t let the “tax tail” wag…

Common tax scams and tips to help taxpayers avoid them

The following was published by the IRS and worth sharing. Common tax scams and tips to help taxpayers avoid them In recent years, tax schemes and scams have been on the rise. Con artists work year-round which means taxpayers must remain vigilant to avoid being victimized. Here are some tips to help people recognize and…

Child Tax Credit Q&A

How much is the Child Tax Credit? The Credit per child is as follows: $3,600 for children ages 5 and under at the end of 2021; and $3,000 for children ages 6 through 17 at the end of 2021. Am I eligible for the Child Tax Credit? The income limitation has two different phase out…

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