6 Ways The American Rescue Plan Can Boost Your Family’s Finances — Part 2

To highlight the ways the ARP can impact your family’s bank account, last week in part one of this series, we outlined three of the legislation’s most important elements. Here in part two, we’ll break down three additional parts of the law that stand to boost your family’s finances. To learn about all the full array of benefits provided by the ARP, meet with us as your Personal Family Lawyer®.

TaxesErica EndykeApril 12, 2021american rescue plan, president biden, tax payers, legislation, unemployment benefits, family wealth planning, direct stimulus payments, student loan, income tax, PPP loan, COBRA Subsidy, wealth planning, 20westlegal

7 Ways To Save Big Money On Your 2020 Taxes—Part 2

Additionally, the CARES Act passed in March 2020 provides individual taxpayers with several hefty tax-saving opportunities, many of which are only available this year. What’s more, President Biden’s new relief package, known as the American Rescue Plan (ARP), which went into effect in March 2021, not only offers additional stimulus payments to most Americans, but it also includes significant tax relief for those taxpayers who lost their job and had to rely on unemployment benefits in 2020.

While there are dozens of potential tax breaks available for 2020, last week in part one of this series, we highlighted the first three of seven ways you can save big money on your 2020 tax return. Here in part two, we’ll discuss the remaining four ways you can save.

TaxesErica EndykeMarch 29, 2021legislation, income taxes, federal income tax, tax return, small business, tax payers, CARES Act, IRS, 401k, income tax credit, earned income tax credit, child tax credit