Mariah Lee’s Post

Did you miss out on your Tax Credit for 2020/ 2021? It’s the "Self-employed Tax Credit" with a maximum of $32,220. Even if you made more money. Plus, you don’t have to repay it and, it’s not taxable. If you're looking for a good tax break, read on. This is the IRS refunding money to those whose work schedule was impaired during the Covid times. NOT for C-Corp or Sub S. I am Skip Knauff and I specialize in helping uncover tax credits for the Self-employed, 1099s, Independent Contractors and Single Member LLC. It’s my goal to educate you as the deadline to apply is upon us. And it’s not the ERC. Watch this 2 1/2-minute Video and learn all the details. https://lnkd.in/dmueX_hm

The Sick and Family Leave Tax Credit is a specialized tax credit Under the Family First Coronavirus Response Act (FFCRA) that is designed to support self-employed individuals during the COVID-19 pandemic. It acknowledges the unique challenges faced by those who work for themselves, especially during illness, caregiving responsibilities, quarantine, and related circumstances. Amidst the pandemic, millions grappled with COVID-related challenges, including: - Illness - Symptoms - Caregiving - Quarantine - COVID Testing - Financial Relief These are specific provisions related to self-employed individuals. Almost everybody with Schedule C income qualifies, including but not limited to: - Sole Proprietors - 1099 Contractors - Freelancers - Single-member LLCs - Gig Workers - Other Self-Employed Workers If an individual found themselves in situations where COVID impacted their ability to work, the Sick and Family Leave Tax Credit was designed to be their safety net. Individuals may be eligible for up to $32,220 in tax credits from 2020 and 2021. And it's not too late—this credit is available through April 18, 2025.

I am still accepting partners in helping millions apply and claim their Sick and Family Leave Tax Credit! Inbox me if you're interested. Sick and Family Leave Tax Credit is a specialized tax credit Under the Family First Coronavirus Response Act (FFCRA) that is designed to support self-employed individuals during the COVID-19 pandemic. It acknowledges the unique challenges faced by those who work for themselves, especially during illness, caregiving responsibilities, quarantine, and related circumstances. Amidst the pandemic, millions grappled with COVID-related challenges, including: - Illness - Symptoms - Caregiving - Quarantine - COVID Testing - Financial Relief These are specific provisions related to self-employed individuals. Almost everybody with Schedule C income qualifies, including but not limited to: - Sole Proprietors - 1099 Contractors - Freelancers - Single-member LLCs - Gig Workers - Other Self-Employed Workers If an individual found themselves in situations where COVID impacted their ability to work, the Sick and Family Leave Tax Credit was designed to be their safety net. Individuals may be eligible for up to $32,220 in tax credits from 2020 and 2021. And it's not too late—this credit is available through April 18, 2025.

The Work Opportunity Tax Credit (WOTC) is a federal tax incentive designed to encourage employers to hire individuals from certain groups who have consistently faced significant barriers to employment. This is a meaningful community incentive, read more about it in our weekly tax blog. #wotc #workopportunity

Any business owner looking to grow their workforce should look at the Work Opportunity Tax Credit (WOTC). Find out how it works. Who qualifies? Plus, how it can help you save on your tax bill. #Tax #TaxCredit #WorkOpportunityTaxCredit #Business #Employee #Employer #TaxSavings #Workforce

In today's busy lifestyle, the line between domestic help and employer-employee relationships can often blur. Understanding the legal and ethical responsibilities as an employer, including filing requirements and regulations, is crucial. 👉 Read our latest blog post by Sara Raby, CPA and stay informed. #taxes2023 #householdstaff #taxupdates

Big change occurring right now in CA with the implementation of SB 951 01/01/2024, which eliminates the taxable income cap for CA SDI and PFL. Previously, these were capped at the plan max, which equated to roughly $153,000. The removal of this cap means employees making north of that amount will pay contribution taxes on their full income number. The silver lining here is CA's ruling on the Voluntary Plan, which allows for the wage cap to stay in place. Please reach out to me directly if you'd like to learn more about this subject, and some solutions we can implement to help employers strategize on the best fit for them (staying with the state, or providing a VDI plan). https://lnkd.in/gXZqCm7e

𝙋𝘼𝙉𝘿𝙀𝙈𝙄𝘾 𝙍𝙀𝙇𝙄𝙀𝙁 𝙎𝙏𝙄𝙇𝙇 𝘼𝙑𝘼𝙄𝙇𝘼𝘽𝙇𝙀- 𝗔𝗿𝗲 𝗬𝗼𝘂 𝗦𝗲𝗹𝗳- 𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗱 𝗮𝗻𝗱 ...𝗱𝘂𝗿𝗶𝗻𝗴 𝘁𝗵𝗲 𝗽𝗮𝗻𝗱𝗲𝗺𝗶𝗰 𝗽𝗮𝗶𝗱 𝘀𝗲𝗹𝗳-𝗲𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁 𝘁𝗮𝘅𝗲𝘀 𝗼𝗿 𝗳𝗶𝗹𝗲𝗱 𝗮 𝘀𝗰𝗵𝗲𝗱𝘂𝗹𝗲 𝗖 ? For Many of Us we heard about the ERC for Business's hit hard by the pandemic but that was for w-2 employees now it is over. But many of us were not aware that a few months ago the Pandemic relief money is now extended to solopreneurs or single business owners that are 1099 or anyone who payed Self- Employment Taxes or filed a schedule C, during the pandemic. The program is called the SELF EMPLOYMENT TAX CREDIT or SETC. Up to $32,000 Refunded per self-employed business owner.What Is The FFCRA Tax Credit —Families First COVID-19 Response Act? In March 2020, the Families First COVID-19 Response Act (FFCRA) was signed into law to help companies offer paid sick leave and unemployment benefits caused by COVID-19. Initially the FFCRA focused on employers with W-2 employees to help them weather the economic impact caused by the pandemic. In December 2020 Congress passed the COVID-19 Aid, Relief, and Economic Security (CARES) Act which expanded the FFCRA to cover not only employers, but the self-employed. Thanks to the FFCRA expansion self-employed individuals, freelancers, independent contractors, and gig workers are now eligible for tax credits that pay you back. CLICK THE LINK TO APPLY FREE: https://lnkd.in/gYkPiGyZ

Tax Season Survival: A Comprehensive Guide to Employee Tax Deductions and Credits https://lnkd.in/gxfNrnhT #tax #credits #employeetax #multiplysaving

Self-employed individuals may be eligible for a tax refund up to $32,000 for their own emergency paid sick leave and expanded family medical leave under the FFCRA during Covid 19 period. For more information and/or to check your eligibility visit the link or reach out to me #smallbusiness #selfemployed #smallbusinessgrowth