ACCTiviti

Did you know about the expansions to the Earned Income Tax Credit for 2021?

Here are some highlights from the IRS's recent fact sheet release on the EITC:
- Available to individuals who have earned income of less than $21,430 qualify (spouses filing jointly with less than $27,380)
- No age limit caps
- Maximum amount increase to $1,502 to filers with non-qualifying children
- Can calculate with 2019 income if higher than 2021 income

IRS Issues Questions and Answers about the Tax Year 2021 Earned Income Tax Credit | Internal Revenue Service FS-2022-14, March 2022 — This Fact Sheet provides frequently asked questions (FAQs) for Tax Year 2021 Earned Income Tax Credit. More people without children now qualify for the Earned Income Tax Credit (EITC), the federal government's largest refundable tax credit for low- to moderate-income famil...

Increasing prices is an inevitability in business (if you want it to keep growing, that is), and businesses across the board are being forced to do it right now - thank you supply chain shortages, reduced labor, raw supply cost increases, rising inflation.

The key many business owners have found to getting customers on board with the increases? Honesty.

As Prices Rise, Brands Find Friendly Ways to Share Bad News Brands are choosing transparency to communicate price changes—and consumers are still buying

In the days when it seems like people are being split so easily by their differences (and a lot by outside forces), it's helpful to remember that we have more commonalities than we think. As we reach to understand our similarities, may those join us together in difficult times.

It's Black History Month, and we want to honor the African American entrepreneurs and influencers who have made great strides ahead for all of us.

UNICEF USA BrandVoice: Black History Month And The Power Of Remembrance UNICEF USA works with many Diaspora and Multicultural partners, our fellow champions for children in the U.S. and globally. For Black History Month, we pause to honor these partners and look forward to future collaborations.

Rather than asking "Is this expense deductible?" (the answer to which is often NO), start asking "How can I turn this expense into a deduction?"

Uncovering hidden deductions isn't about spending money on things to get a tax break. There's not a lot of money to be had there. What it really looks like is examining where you're already spending money and then turning it into something that works for you.

Are your money and time spent regularly on something outside the scope of your business that could actually be turned into a legitimate business venture? It might be time to consider turning that "play" into a lucrative work endeavor that not only brings in a profit but also means tax breaks for you.

We'd be glad to look things over for you and give you insight on where to begin.