We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends. The GiftLaw services are made available to all advisors as a free service. We are available to assist in helping you provide clients with clear and understandable gift illustrations. Also, as a convenience to you and your clients, we have provided you with sample bequest language and our tax ID number should your clients want to include SPU in their estate plan.
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With the reduced number of infections and better news for the COVID–19 pandemic, millions of Americans are returning to work. Many parents are making arrangements for childcare. The American Rescue Plan Act (ARPA) includes several benefits that will help parents as they return to work. The ARPA benefits include an increased child and dependent care credit, higher limits for a flexible spending account (FSA), expansion of the earned income tax credit (EITC) and greater benefits under Advance Child Tax Credits. 1. Increased Child and Dependent Care Credit — ARPA makes it easier for parents to provide child and dependent care. The tax credit for care of qualified dependents is increased from 35% to 50% for 2021. The 2020 amounts of $3,000 for one child, and $6,000 for two or more children are increased to $8,000 for one child and $16,000 for two or more. With the 50% credit and higher limits, the 2021 credit for one child is $4,000 and $8,000 for two or more dependents. The IRS cautions that the credit does not apply if the employer pays for care or if care is provided...
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GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...
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The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Click here to access and run charitable deduction calculations for your favorite gift plan...
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