THE SUNLIGHT TAX BLOG:
Tax and Money Education for Creative People, Freelancers and Solopreneurs
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What’s in the $1.9 Trillion stimulus plan?
The American Rescue Plan, Biden’s $1.9 Stimulus Bill, will be an enormous boost to the US economy. Here’s a brief rundown of the items most likely to affect freelancers.
Stimulus payments:
New $1400 stimulus payments will go out per person on the return. This means that children and other dependents will get the full $1400 each, in addition to the taxpayers. Households with income under $150,000 (married filing jointly) and individuals with income under $75,000 will receive the full benefit. Households with income between
Unemployment Tax Savings from the 2021 Stimulus Bill
President Biden recently signed the American Rescue Plan into law, and it has some very exciting provisions for people who collected unemployment during 2020. Hannah Cole of Sunlight Tax created the following short video to give you the latest information about how the new law will apply to unemployment income.
Hannah goes through specific information about unemployment taxes affected by this retroactive legislation. Hannah covers what you need to know, whether you have already filed your 2020 taxes or whether you have not filed yet.
What are your money concerns?
Suggest a blog topic for Hannah here.