Troutt, Beeman & Co PC

It's #TaxTipTuesday! If you prefer to receive one lump sum instead of advance monthly payments of the #IRS Child Tax Credit, you can use the new IRS tool to opt out of those payments. There a several reasons to consider unenrolling from advance payments. Learn more at https://www.irs.gov//2021-child-tax-credit-and-advance-chi #tbcocpa #irs #childcaretaxcredit

#TaxTipTuesday: If you or someone you know do not file taxes due to low income, please share this info. Child Tax Credit payments are set to begin July 15 to qualified taxpayers. Families who do not file taxes (typically low-income, homeless or underserved groups) are still eligible to receive the payments, but must sign-up with the IRS to claim the benefit. The IRS has opened a new sign-up portal on their website at https://www.irs.gov//child-tax-credit-non-filer-sign-up-to. It is important to know that using this tool or filing a tax return are the only two ways to sign-up for the Child Tax Credit. Any other options are scams. #tbcocpa

#TaxTipTuesday: Now that summer is finally here, your teens will be working those summer jobs. From gig work to summer camps, this is a great article all about what tax info you need to know! #summerjobs #taxes #tbcocpa https://news.bloombergtax.com//what-you-need-to-know-about

Thanks to a change under the American Rescue Plan, small businesses and tax-exempt organizations (non-profits) with fewer than 500 employees can claim refundable tax credits that reimburse them for the cost of providing paid sick and family leave to their employees due to COVID-19, including leave taken by employees to receive or recover from COVID-19 vaccinations. These tax credits are available to eligible employers that pay sick and family leave for leave from April 1, 20...21, through September 30, 2021. Self-employed individuals also qualify. For more information, including how to claim the credit, visit http://ow.ly/3I8O50EKjvZ. #taxtiptuesday #tbcocpa #covid19relief

On Monday, the SBA opened the Restaurant Revitalization Fund application portal. In just two days, over 186,000 businesses applied and the $28.6 billion in funds are not expected to last long. If you are thinking about applying, you need to act fast! We have put together a blog post detailing what you need to know: from eligibility to how to apply and more. http://ow.ly/Knbw50EGvWV

Happy Cinco de Mayo! Our staff celebrated with a delicious taco bar luncheon catered by the always fabulous Thyme For Seasoning Catering and Events. Only 12 more days until Tax Day! #wearetbco #tbcocpa #taxseasonfun @thymeforseasoning

A big shout out to our intern and high school graduate, Gage Harris! Congratulations and best of luck as you begin the next chapter at Missouri State! #wearetbco #Classof2021