Day: June 6, 2021

Tax-advantaged accounts like 401(k)s and IRAs are convenient ways to save for your retirement. These types of accounts allow to you defer paying taxes on the amount you save until you start withdrawing your savings. The government does want to see that tax revenue eventually, though. To ensure that the government receives its share of
-> Continue reading Required Minimum Distributions in 2021

The American Rescue Plan signed by President Biden in March 2021 made significant changes to the Child Tax Credit (CTC). These changes expand the CTC to cover roughly 39 million households, covering 88% of children in the United States, and make the CTC directly payable to eligible recipients on a monthly basis. For tax year
-> Continue reading American Rescue Plan and the Child Tax Credit