- Unemployment Fraudsters May Create a Tax Nightmare for Unsuspecting Taxpayers
- The Department of Labor has announced that there has been up to $63 billion in improper unemployment payments during COVID-19. Unsuspecting taxpayers could be victims of this fraud.
- What Is a Joint Venture?
- When multiple business entities make a decision to start a new business together as a cooperative arrangement, they form what is known as a joint venture.
- Video: Required Minimum IRA Distribution Resumption for 2021
- The Required Minimum Distribution for traditional IRA was suspended in 2020 but will resume in 2021. Watch this video for what to expect.
- Tax Deductions Without Itemizing
- Most taxpayers think they have to itemize their deductions to claim them on their tax return. However, that is not entirely true. There are certain deductions that can be claimed while still using the standard deduction. Here is a list of those deductions:
- Solar Tax Credit Extended for Two Years
- A federal tax credit for the purchase and installation costs of a residential solar system has been extended through 2023. The credit for 2021 and 2022 is 26% of the cost of the solar installation but drops to 22% for 2023, the final year of the credit (unless extended again by Congress).
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