Investment account access
NEW Secure file and message portal for tax services
Accounting platform superior to Quickbooks
Payroll, timekeeping, benefits, and more
401(k), Solo 401(k)
Accounting automation (bill pay plus expense & reimbursement management)
Secure file and message portal for tax services
As part of President Joe Biden’s $1.9 trillion coronavirus relief package, eligible families can receive as much as $3,600 for each child under the age of 6. This represents an 89% increase over 2019’s amount. For children between ages 6 and 17, the credit is now $3,000. Previously children age 17 were not included in the Child Tax Credit at all.
Additionally, Congress has asked the IRS to sent part of this increased credit to taxpayers monthly beginning July of 2021. Some media outlets have called this a 4th stimulus. Beware that these payments are VERY different than the earlier 3 stimulus payments.
For most people, we recommend opting out of the payments via the IRS website: https://www.irs.gov/credits-deductions/child-tax-credit-update-portal . Unfortunately the IRS did not give us much advance notice of the opt-out procedure. We’ve personally gone through the process and it worked. However, we’ve heard stories of others having difficulty. Don’t expect the process to be speedy. When you start, make sure you have your cell phone, your patience, and your tech savvy friend/spouse.
Finally, note this is all temporary. The increased tax credit AND these payments are set to revert back to their old ways for 2022 unless Congress acts. We understand extending these benefits is a high priority for the current administration.
In just ten minutes you can see if it makes sense for us to work together. No pressure, no sales tactics. Tell us about what’s working and not working for you. If we can help, we’ll schedule another time to go deeper with you.Schedule "Good Fit" Call
Keep reading. Never stop learning.
Don’t wreck your most valuable deduction
Uncle Sam's allowance for vehicle expenses is one of the least understood deductions. Of course car and truck expenses are allowable, but how are they maximized? What records are necessary to survive an audit?
Fundamentals: Vehicle Expenses
Vehicle expenses are one of the least understood and poorly documented deductions on most tax returns. Yet it is the biggest deduction for many small business owners. It is also the one that can get you in the most trouble...
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
Check the background of your financial professional on FINRA's BrokerCheck Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state. Securities offered through Avantax Investment Services℠, Member FINRA, SIPC, Investment Advisory services offered through Avantax Advisory Services℠,Insurance services offered through an Avantax affiliated insurance agency. 3200 Olympus Blvd., Suite 100 Dallas, TX 75019 972-870-6000.
The Avantax family of companies exclusively provide financial products and services through its financial representatives. Although Avantax Wealth Management℠ does not provide or supervise tax or accounting services, Avantax Representatives may offer these services through their independent outside business. Content, links, and some material within this website may have been created by a third party for use by an Avantax affiliated representative. This content is for educational and informational purposes only and does not represent the views and opinions of Avantax Wealth Management℠ or its subsidiaries. Avantax Wealth Management℠ is not responsible for and does not control, adopt, or endorse any content contained on any third party website.
This information is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Investments & Insurance Products: Are not insured by the FDIC or any federal government agency- Are not deposits of or guaranteed by the bank or any bank affiliate- May lose Value
Links provided from this web-site are strictly for informational purposes and are not an endorsement or recommendation of the site, company, content, or its sponsoring organization by Avantax or its affiliates. Firm Name provides these links as a convenience to you, and has not tested any software or verified any information found at such sites. Risks are associated with the use of software and the information available on the Internet and you acknowledge and understand these risks before using any of these services.
Avantax Investment Services℠ and Avantax Advisory Services℠ are not affiliated with Wymer Brownlee Wealth Strategies.
Copyright © 2023 Core Financial Resources.