There has not been many upsides to COVID, but an enhanced child care credit for 2021 could be one for eligible families. The credit is available for expenses a taxpayer pays for the care of qualifying children under the age of 13 so that the taxpayer can be gainfully employed. The real benefit is that […]

One of the most important and impacting decisions a business owner makes is deciding what type of entity is best suited for their company. Below are benefits from electing to be an S Corp, but also items to be aware of.   Anticipating losses If you expect that the business will incur losses in its […]

In a news release, the IRS and Treasury Department announced an extension of the April 15th deadline to May 17th for the filing of 2020 individual income tax returns and the associated tax payments.   In a news release, the IRS and Treasury Department announced an extension of the April 15th deadline to May 17th […]

ARPA, the American Recovery Plan Act signed into law on March 11th has extended the ERC, Employee Retention Credit. Employee Retention Credits can be a very useful tool to aid in the recovery from the COVID-19 pandemic. Read on to find out more about ERC and how they can help you. The original credit As […]

ARPA, the American Rescue Plan act that was signed into law on March 11th added a major change to the Child Tax Credit. The most drastic of the changes are direct payments to parents in certain tax brackets. We bet you are curious if are eligible? Rudler, PSC has you covered. Below are answers to […]

We have all heard the benefits for individuals that were included in the act signed by President Biden on March 11. However, there are also some potential benefits for businesses to be aware of. Here are a few tax highlights that may help many business owners. The Employee Retention Credit (ERC). This valuable tax credit […]

The DOL recently issued EBSA Disaster Relief Notice 2021-01. Employers should be particularly interested in Notice 2021-01. It clarifies the duration of certain COVID-19-related deadline extensions that apply to health care benefits plans.   Extensions to continue The DOL and IRS issued guidance last year specifying that the COVID-19 outbreak period — defined as beginning […]

From a taxpayer perspective, the bill included tax provisions that provide relief both to businesses and individuals through enhancements, and expansions of credits and programs that were put in place to keep families and small businesses afloat through the ongoing crisis. See details below on these important updates as they may benefit you and your […]

Although the U.S. economy still has some progress to make to get to where it was before the COVID-19 pandemic hit a little over a year ago, experts are expecting sturdy job growth and economic activity in the coming months, especially as the vaccine becomes more readily available. No matter what your business does, you […]

If you make estimated payments, April 15th is not only an important date for your tax return, but also for your first quarter estimated tax payment. You may have to make estimated tax payments if you receive interest, dividends, alimony, self-employment income, capital gains, prize money or other income. If you don’t pay enough tax […]