Why I Recommend you OPT OUT of the Advanced Child Tax Credits If You Don’t Need the $$$ Right Now

WDTBS Posted in 2020, American Rescue Plan, COVID19, CreditsLeave a Comment on Why I Recommend you OPT OUT of the Advanced Child Tax Credits If You Don’t Need the $$$ Right Now

I’ve received a few questions about the ADVANCED payments on Child Tax credits, and decided to share my thoughts with you all. Unless you really need the advanced child tax payments, I recommend you OPT OUT of receiving them. These payments are ADVANCES on child tax credits you’re expected to receive in 2021.  The advancement […]

IRS strongly urges taxpayers not to file amended returns related to the new legislative provisions

WDTBS Posted in 2020, American Rescue Plan, message to clientsLeave a Comment on IRS strongly urges taxpayers not to file amended returns related to the new legislative provisions

The IRS strongly urges taxpayers not to file amended returns related to the new legislative provisions or take other unnecessary steps at this time. The IRS will provide taxpayers with additional guidance on those provisions that could affect their 2020 tax return, including the retroactive provision that makes the first $10,200 of 2020 unemployment benefits […]

ARP

The American Rescue Plan Means More $$$ for Most Taxpayers

WDTBS Posted in 2020, American Rescue Plan, COVID19, Earned Income Tax Credit, Income Tax, message to clients, Save TaxesLeave a Comment on The American Rescue Plan Means More $$$ for Most Taxpayers

If you have been following the news, you know the new COVID relief plan should be signed by President Biden today. It’s called The American Rescue Plan. This plan not only includes another $1400 in stimulus payments for tax payers and their dependents, but it also includes other tax benefits for certain individuals applicable for […]

California Health Insurance Mandate for Tax Year 2020

WDTBS Posted in 2020, Affordable Care Act, California Economy, California TaxesLeave a Comment on California Health Insurance Mandate for Tax Year 2020

While it’s true the Federal government did away with the #HealthInsuranceMandate, California kept the show rolling with the California #HealthCareMandate effective tax year 2020. Beginning January 1, 2020, all California residents must either:(1) Have qualifying health insurance coverage, or (2) Obtain an exemption from the requirement to have coverage, or (3) Pay a penalty when […]

Money For LIFE Webinar – Episode 007 [video]

WDTBS Posted in 2020, Debt, Money Management, Personal Finance, WealthLeave a Comment on Money For LIFE Webinar – Episode 007 [video]

Just how do you go about creating generational wealth for you and your family?  Proverbs 13:22 says: “A good man leaves an inheritance for his children’s children.”  Now… just how do you do that?  It starts by getting some financial education.  Then, you’ll need a lot of discipline and mostly liking some coaching. But let’s […]

Little Ways Having a Side Biz Helps You Keep More Of Your Money (video) – Ep005

WDTBS Posted in 2020, B2B, COVID19, Deductions, Income Tax, Independent Contractors, Save Taxes, Schedule C, Small business, WealthLeave a Comment on Little Ways Having a Side Biz Helps You Keep More Of Your Money (video) – Ep005

This is episode 005 in the Words About Work, Wealth and Money series. In this video I present a “case study” on little ways having a side biz helps you keep more of your money. I discuss these four phrases originally presented in episode 001 of Work, Wealth and Money. Have a legitimate Side Biz […]