Should you Buy Now, Pay Later?

Buy now, pay later services are beginning to proliferate in online shopping.  Even mega-retailer Walmart has boarded the buy now, pay later bus, announcing they are eliminating lay-away.  The service seems simple enough, allowing the consumer to split the cost of their items into set payments.  The advertising promises no interest if the program is …

child tax credit ARPA

The 2021 Child Care and Dependent Credit- A Big Change

For 2021 Congress made a big change to the Child Care and Dependent Credit, which helps families cover child care costs -usually a little, but now maybe a lot more.  The child care credit typically applies for a child under 13 or a disabled dependent. Also, the taxpayer (and spouse, if filing Married Filing Jointly(MFJ) …

The Tax Year 2021 Recovery Rebate Credit

Recovery Rebate Credit and the Third Stimulus Payment: Many taxpayers experienced the Recovery Rebate Credit (RRC) for the first time when filing their 2020 tax return this year. Next year, we’ll have a Recovery Rebate Credit again for the 2021 tax return. Since the credit this time is tied to the 3rd stimulus payment, which …