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Blog Tag: Individuals

Year-End Tax Update

Our tax experts discuss the changes that may impact you or your business this year. We’ll cover: Tax planning updates for businesses and individuals (Inflation-adjusted tax brackets, Bonus/Sec 179 expensing,

Year-End Tax Updates

Join the experts at Wegner CPAs to learn about the tax updates that may impact you or your business this year. We’ll take a look at: Employee Retention Credit –

Why you should make Qualified Charitable Distributions (QCDs) from your IRA

If you are 70 ½ or older, have an IRA, and make charitable contributions this strategy may be for you. Under our current tax system, the standard deduction is very

Paying Medicare premiums? Don’t miss a tax deduction.

Are you age 65 and older and have basic Medicare insurance? If you don’t have the level of coverage that you need, you may end up having to pay additional
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Many parents will receive advance tax credit payments beginning July 15, 2021

The IRS has announced that under the American Rescue Plan Act (ARPA), eligible parents will begin receiving payments for advance child tax credits (CTC), as of July 15, 2021. How
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Unemployed last year? Buying health insurance this year? You may benefit from favorable new changes.

In recent months, there have been several tax changes that may affect your individual tax bill. Many of these changes were enacted to help mitigate the financial damage caused by
calendar with "tax day" written on May 17th, 2021

REMINDER: Due dates for 2020 tax returns and the change of “Tax Day” to May 17th

Internal Revenue Service announced that the federal 1040 income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021 to May
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Do you qualify as the “head of household” for filing purposes?

An individual’s filing status determines the rate they are taxed and their allowable standard deduction. The head of household filing status, generally, allows for a lower tax rate and a
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Enhanced Child and Dependent Care Credit – 2021

The child and dependent care credit has been available to taxpayers for a while but for 2021 tax year, the New American Rescue Plan Act (ARPA) has enhanced this credit.
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Estimated tax payments: When you are required to make them

Normally April 15 is the deadline for filing your individual tax return  (except for 2020 taxes that are now due on May 15, 2021), it’s also the deadline for the