A&R Accounting & Consulting Services

Great news if you are paying childcare expenses that enable you to work. As part of President Biden's American Rescue Plan Act, the child and dependent care tax credit has been substantially increased for 2021.

Here is some midweek Wednesday Wisdom inspiration from your friends at A&R Accounting & Consulting Services

Tax season is here. What if you end up owing tax to the IRS and can't pay them immediately? This video will discuss a few options to consider when you don't have the funds to pay all of your tax liability.

The recently passed American Rescue Plan Act (ARPA) includes a provision for the federal government to pick up the cost of COBRA health coverage for employees' involuntary termination of their employment or reduction of hours subject to certain qualifications.

A&R Accounting & Consulting Services has the motivation you need to get going this Monday.

First, there was the usual April 15th deadline. Then, there was July 15th. If you filed for an extension, your deadline was October 15th - and now that date has come and gone. What happens now if you missed it?

Let's get the weekend started. Friday from A&R Accounting & Consulting Services

Operating a SMB is hard work - and it's vital to know the financial health of your business at any time. Whether you're assembling your financial reports yourself or have hired professional help (like us), here are 12 metrics that can help you monitor your success.

To say COVID-19 has made 2020 a disastrous year for just about everyone would be an understatement. However, 2020 has given rise to more than the usual tax-planning opportunities. Thus, you may find it appropriate to schedule a tax-planning appointment well before the close of the year to take advantage of the tax benefits and strategies available for 2020.

It matters how you get there. Wednesday Wisdom from A&R Accounting & Consulting Services

Are you an investor in stocks, bonds, mutual funds, etc.? If so, when you sell those securities, you will undoubtedly want to minimize your gains or maximize your losses for tax purposes. To do that, you'll need to know your tax basis in the investment (asset), which makes it important to keep track of the basis in all your investments.

Start your week on the right foot with Monday Motivation from A&R Accounting & Consulting Services

Here is a fun fact for your Friday from A&R Accounting & Consulting Services.

Health insurance premiums, including Medicare parts B, C, and D; hospitalization; long-term care; and dental costs are all tax deductible, and are subject to AGI limitations if you itemize your deductions. If you are self-employed, including some partners, or a more-than-2% S corporation shareholder, you may be able to deduct the premiums without itemizing and without AGI limitations.

Wednesday Wisdom and A&R Accounting & Consulting Services = Success

The SBA has released yet another simplified application for PPP loan forgiveness: SBA Form 3508S. This form can only be used if the total PPP loan amount received by the borrower from their lender was $50,000 or less.