38 Burst results for "Tax Credit"

Fresh update on "tax credit" discussed on Sound ON

Sound ON

00:53 min | 7 hrs ago

Fresh update on "tax credit" discussed on Sound ON

"How many times did we hear Right Oh yeah right Racist sexist homophobic xenophobic Islamophobic you name it And unfortunately there are people like that Well and people like Rick said who are polling on this stuff and turning it into talking points How about president Obama Somebody helped to create this unbelievable American system that we had that allowed you to thrive Wait for it Somebody invested in roads and bridges If you got a business that you didn't build that Somebody else made that happen You didn't build that basket of deplorables high class problem Jeannie this is how Washington works right It is And since we want to make it bipartisan let's not forget like Mitt Romney's binders full of women They've got them on both sides You know I would just say that in this case unlike in the case of Romney or Clinton or Obama you have the chief of staff So I think it's a real sort of error on his part to be retweeting This is why they say be very very careful and stay off Twitter This is not something that Joe Biden said Rose is something his chief of staff said But you know let's take a step back The Republicans want to frame themselves as concerned and many of them are about people you know in the working class But let's look at the policies coming forward and this is what Democrats have to do The one thing the Republicans did when they took The White House and had Congress is they passed tax cuts for the wealthy You have Democrats here now and it doesn't look pretty It's a lot of sausage making but what they are working on is trying to pull that back and to do the work that is needed for all Americans including the lower in the middle classes I mean that's why we are debating things like extending the child tax credit You know issues involving paid family leave So Democrats have to get back on their message which is their focus is on the lower and the middle classes the president has promised not to increase taxes above a certain amount And Republicans can make this case about inflation and I think inflation is critically important But Democrats can respond to this and they have to show that they are really focused on inflation as well High class problem ricketts exactly the opposite of what Joe Biden is.

Jeannie President Obama Rick Mitt Romney Joe Biden Romney Clinton Washington Barack Obama Rose Twitter White House Congress Ricketts
Fresh update on "tax credit" discussed on Bloomberg Businessweek

Bloomberg Businessweek

00:54 min | 8 hrs ago

Fresh update on "tax credit" discussed on Bloomberg Businessweek

"Yet though on those remains Laundry has wanted for questioning in the murder of his fiance Gabby patito She was found on the edge of Wyoming's grand teton national park after being missing for more than a week President Biden is scaling back his ambitious three and a half $1 trillion domestic agenda for addressing climate change and expanding social services Biden described a more limited vision to democratic lawmakers in meetings he held yesterday at The White House he told them he wanted $2 trillion package with money for child tax credits paid family leave healthcare and free pre-K Bloomberg's Washington correspondent Anne Marie hordern says the president is hoping to find a sweet spot for passage This is really what the president is trying to do really try to bridge both wings of his party to be able to make it tolerable for those moderates but at the same time not lose those crucial progressive votes Bloomberg's hordern says plans for tuition free community college will likely be cut along with portions of Biden's clean energy plan that have been opposed by West Virginia senator Joe Manchin New York City will mandate COVID-19 vaccinations for all city workers eliminating the testing option Mayor Bill de Blasio defends the decision Obviously we've given people a lot of time first in the voluntary phase then in the vaccinate or test phase it's time to keep moving De Blasio says those receiving a shot will also be given an extra $500 in.

Gabby Patito Biden Anne Marie Hordern Grand Teton National Park Bloomberg Wyoming Hordern White House Senator Joe Manchin Washington Mayor Bill De Blasio West Virginia New York City De Blasio
Fresh update on "tax credit" discussed on Bloomberg Surveillance

Bloomberg Surveillance

00:34 sec | 15 hrs ago

Fresh update on "tax credit" discussed on Bloomberg Surveillance

"Is susceptible to the risk that we see right now where so many kids have gotten COVID thousands have been hospitalized sadly we've lost hundreds of children to COVID So this is not a benign illness Today The White House is laying out plants to distribute the coronavirus vaccines quickly conveniently and equitably to children across the country The president is heading to his hometown of Scranton Pennsylvania today to pitch his economic plan He's been negotiating with Democrats to cut the price of his spending bill in order to get it passed he is expected to drop tuition free community college and scale back tax credits Baseball fans are in for two more games today in the MLB playoffs The Astros and Red Sox will meet for game 5 of the ALCS series is tied after Houston beat Boston last night 9 to two the.

White House Scranton Pennsylvania Baseball Astros Red Sox Alcs Houston Boston
Fewer in US turn to food banks, but millions still in need

AP News Radio

00:44 sec | Last week

Fewer in US turn to food banks, but millions still in need

"An Associated Press review found the distribution numbers from food banks across the country have dropped over the last six months but the need is still elevated Katie Pitts Gerald is the CEO of feeding America she says the amount of food being distributed by their more than two hundred partner food banks is still fifty five percent above pre pandemic levels in Fresno at the central California food bank numbers have leveled off but remain twenty five percent higher than in twenty nineteen staff there report that many people are still out of work particularly women who are primary care givers in the home foodbanks are trying to predict how long the elevated level of need will last taking into account child tax credit payments but also the end of the nationwide eviction moratorium and expiring unemployment benefits Jennifer king Washington

Katie Pitts Gerald Associated Press Fresno America California Jennifer King Washington
Biden's $3.5T Reconciliation Bill Provides Handouts to Illegal Immigrants

Mark Levin

01:36 min | 2 weeks ago

Biden's $3.5T Reconciliation Bill Provides Handouts to Illegal Immigrants

"And our Friends at excuse me at the free Beacon Joseph Simpson Democrats talk multi-billion dollar handout to illegal immigrants into the reconciliation done And we know they've put tens of billions of dollars in there for left wing groups The 3.5 trillion reconciliation bill include extends the child tax credit to anyone in the United States Who provides an individual taxpayer identification number Overturning a crucial safeguard against fraud federal law Ricardo valid social security numbers The only American citizens get that To receive the cash transfer from the federal government the potential payoff for illegal immigrants who have an individual taxpayer identification number if you can believe that Is massive with each family receiving a monthly payment of 250 to $300 per child This has been snuck into the Bill This is what I'm talking about We've got to look at the substance too A survey from Pew Research Center found that roughly 675,000 children are not eligible for social security number making the tax credit expansion for illegal aliens cost between two and two and a half $1 billion a year Other estimates put the total number of illegal children residing in the United States and more than 800,000 So families regardless of their legal status with the eligible to receive checks of $3600 per year per child Including illegal aliens

Joseph Simpson Ricardo United States Federal Government Pew Research Center
Rep. Jim Clyburn Pushes Trillion Dollar Spending, Ignorant of Long-Term Implications

Mark Levin

01:46 min | 2 weeks ago

Rep. Jim Clyburn Pushes Trillion Dollar Spending, Ignorant of Long-Term Implications

"The number three Democrat in the house was on MSL with the morning schmoe And he basically said what I've been saying he gave it up Take a listen cut 12 go So what do we need to do We need to have the child tax credit for the players We need to expand Medicaid So that people can get the help that they need And of course we need to do something about expanding Medicare But we should not do one at the expense of the other And then the other thing we need to do as I've heard on your show this morning We need to stop talking about these ten year numbers That's what got people to either whack They don't realize that when you use that 3.5 number you're talking about ten years People think in terms of budget then one two three sometimes 5 years Well let's say your house markets you don't think in terms beyond that So if you can get this discussion the focus on exactly who will be trying to do to get people back to work with our economy and moving again I think that we will get through a good place So in other words do exactly what I said they would do last week and what I've said today Play with the numbers Get these programs in place don't talk about the out ears what they're going to cost Don't even look at them do one three 5 years max just get them in place Get them in place and that way we can show a lower number So what I was talking about last week a couple of times and I'm talking about now Monday And I sure as hell hope people don't fall for this I hope mansion doesn't fall for

The Democrats' Infrastructure Shenanigans, Explained

Mike Gallagher Podcast

02:02 min | 2 weeks ago

The Democrats' Infrastructure Shenanigans, Explained

"Occurred to me last night that those of us who sort of get into the trenches everyday and do this for a living. We are pretty familiar with what's unfolding with his infrastructure. Vote but it but there are a lot of americans. I suspect to our busy. You're working you've got your family to take care of. You got your head down. You're not really in the weeds. And i wanna make sure you understand what the democrats are attempting to do. I want to go. I wanted to give you the basics. There was a bipartisan infrastructure. Deal that was focused. Exclusively on improving. America's infrastructure was going to be one point two trillion dollars of better roads better bridges actual infrastructure airport infrastructure and democrats and republicans had agreed on the physical projects portion of this spending bill. But then it wasn't. That wasn't enough for the democrats because you never let a crisis go to waste you you pile on and you start adding things like things that have nothing to do with infrastructure and you pretend it's infrastructure universal pre-k free college tuition paid family leave extending monthly child tax credit payments on. And on all this junk that has nothing to do with infrastructure and the far left led the charge and they're threatening to upend the physical infrastructure part by withholding their vote if they don't get their wish list of all of this socialist crap

America
"tax credit" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

02:24 min | 3 weeks ago

"tax credit" Discussed on Marketplace with Kai Ryssdal

"Thanks a lot. Appreciate your time. thanks so much..

Wall Street Journal Explains the Reality of the Democrat '$3.5 Trillion' Bill

Mark Levin

01:11 min | 3 weeks ago

Wall Street Journal Explains the Reality of the Democrat '$3.5 Trillion' Bill

"The Wall Street Journal a couple of months back explained exactly what's going on here They said the budget resolution fact sheet Democrats circulated includes only a bare bones description of the bill's major programs for tax credits new entitlements healthcare climate and housing Some categories include this revealing caveat quote the duration of each program's enhancement will be determined based on scoring and committee input That's Washington speak for admitting the budget will be built on phony assumptions and gimmicks Democrats know they're proposed tax hikes and dubious pay force will not come close to fully funding every major program that President Biden has asked us for As Schumer claimed Their plan is to include every program but start small and pretend they're temporary This will let them skirt the budget reconciliation rule that spending can not add to the deficit outside a ten year budget window without triggering the 60 vote threshold to pass the filibuster rule So even in this they play with the books they play with the numbers They're righteous and compassionate rather than Ponzi schemers that should go to prison Every one of these bastards should go to prison

The Wall Street Journal President Biden Schumer Washington Ponzi
Biden wants to raise taxes on the wealthy and corporations. Here's why that's going to be hard

WSJ What's News

01:25 min | 3 weeks ago

Biden wants to raise taxes on the wealthy and corporations. Here's why that's going to be hard

"Biden has said he wants profitable corporations to pay their fair share in taxes but under the latest tax legislation some companies would still be able to pay nothing. According to the democratic proposal approved this month by the house ways and means committee the top corporate tax rate would jump from twenty one percent to twenty six point five percent but our reporter richard rubin says the bill doesn't address the reasons that profitable companies sometimes don't pay taxes the company that aren't paying taxes or paying. None are often doing things that the government is encouraged them to do by giving them tax breaks the do it so for example that includes investing in equipment where you get a full and immediate deduction it includes doing corporate research so that you are you get a tax credit for that and i think what democrats are doing is they're saying look we know there's some companies out there that don't pay taxes and are profitable but we're not going to solve the equation for that. We're not gonna fix eight on that we're going to address what we see. Is maybe bigger issues. And they're going to focus on trying to encourage companies to do things that democrats want them to do invest in solar power invest in low income housing. And they're not willing to give up those goals. In order to fully address. This idea that every profitable company has to pay something in taxes. But a white house official. Says that. The committee's bill does markelle step forward in biden's effort to get companies to pay

House Ways And Means Committee Richard Rubin Biden Markelle White House
The Left Ruins Everything It Touches

Dennis Prager Podcasts

02:09 min | 3 weeks ago

The Left Ruins Everything It Touches

"Hello my friends. Dennis prager here. A reminder what the democrats are doing to this country he's ruining it. The democratic party is ruining the united states of america because it's controlled by the left and the left ruins everything touches to deny that is to engage in wishful thinking and it's inexcusable means. You don't have the courage to say the left is is evil. The left is evil. The left everywhere is evil. Not liberals liberals are my eve liberals often lack courage politically. They're often wonderful individuals. I love some of them personally but they won't acknowledge because it's very hard to stare at evil to destroy america. The last best hope of mankind is that's not evil then. I need a definition of evil. So i'm very specific. And what. I mean by evil in this case. They're destroying this country. Intentionally taxpayer payers should understand. The magnitude of the benefits is the wall street journal editorial about the the The new entitlements that they are giving for children basic income for families with children basic income for all families before the expansion the average child credit for a family below one hundred percent of the poverty line was about nine hundred. Seventy five dollars now. It's five thousand. Four hundred twenty one dollars that comes on top of their transfer programs such as food stamps and the earned income tax credit. The child entitlement will reach well into the middle class which is part of the political goal of course at the end of democracy when people understand. They could vote for politicians. Who will give them money. That's it it's over then nobody votes for what's better for the country they vote for. How do i get more money.

Dennis Prager United States Of America Democratic Party Wall Street Journal
"tax credit" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

03:44 min | Last month

"tax credit" Discussed on Marketplace Morning Report with David Brancaccio

"Three nine percent.

Larry Kudlow Breaks Down Biden Taxation Proposals

Mark Levin

01:58 min | Last month

Larry Kudlow Breaks Down Biden Taxation Proposals

"Speech today. Was just The usual Left wing. Progressive Pap. He wants to level the playing field. It's all about class work there. We're going to take from the rich. Who, of course, don't pay their fair share of taxes. And we're going to give all these new Government welfare programs. And by the way, not a single one of those programs has a work requirement or an education requirement. There will be completely dependent on the state. The worst part of it to me is just the factual lies by To say that you have lots of corporations who don't pay any taxes. Lots of rich people, quote unquote who don't pay enough taxes. Their fair share, and we have to level the playing field. Look at. I don't want to level the playing field. I want to raise the playing field. I want to expand the pie. I want ordinary middle income blue collar wage earners to get more wages. To have better equipment and technology so they can be more productive. Then their family incomes will go up, all of which happened following the trump tax cuts. The Biden tax increases are going to reverse everything here. I mean, it's just the idea that $400,000 Nobody under $400,000 don't pay higher taxes. Well, think of it. This. First of all the joint tax committee shows that that's untrue. That people there's a little bit you're right below and the 30,000 that has something to do with the implementation of the child tax credit. But the main thing here is People around 100 or $200,000. $300,000 You know you're talking about families. Families we're talking about. It could be two incomes.

Joint Tax Committee Biden
Federal Aid Saved Families During the Pandemic

Marketplace Morning Report with David Brancaccio

01:27 min | Last month

Federal Aid Saved Families During the Pandemic

"The money and other resources. The federal government brought to bear to keep people afloat during pandemic was in essence of vast anti-poverty program. We'll get a sense later. Today of how well the pandemic relief worked. When the us census releases twenty twenty data on poverty other indicators show the programs kept hunger at bay in many households and democrats are pushing to extend some of those programs which do have costs. Marketplace's amanda teacher has more the government provided billions of dollars in pandemic aid. Emergency unemployment benefits stimulus checks and increase supplemental nutrition assistance benefits or food stamps. Without all that care about dairy from. I focus on children's says things would have been much worse while dairy points to the advanced child tax credit deposits up to three hundred dollars a month per kid. They put cash directly in the hands of families cash. That's been going toward things like groceries or rent. Democrats want to continue the child tax benefit the treasury department says it would cost taxpayers about one hundred ten billion dollars a year. Eric york is with the tax foundation. It becomes just very expensive to make it permanent. She says that may be why. Lawmakers are only proposing to extend it through twenty twenty-five according to columbia university social policy center child poverty dropped by more than forty percent after the first child tax deposit in july. I'm amanda feature for

Federal Government Amanda Eric York Government Treasury Department United States Tax Foundation Columbia University Social Pol
Joe Manchin Calls for Pause in Democrats’ $3.5 Trillion Spending Push

Pod Save America

00:34 sec | Last month

Joe Manchin Calls for Pause in Democrats’ $3.5 Trillion Spending Push

"Joe manchin wrote in last thursday's wall street journal. The congress should quote hit a strategic pause on joe biden's economic plan because he's worried about the effects on inflation and the national debt axios than reported on wednesday. That mansion won't support a plan that costs more than one point five trillion dollars. The current plan cost three point. Five trillion dollars over ten years in mansion also has specific concerns about home care for the elderly and disabled affordable childcare universal community college universal preschool and the monthly child tax credit checks have already lifted three million children out of poverty in july

Joe Manchin Joe Biden Wall Street Journal Congress
Infrastructure, Jobs and Climate Change

Green Connections Radio - Insights on Innovation, Sustainability, Clean Energy, Leadership, Entrepreneurship, and Careers w Top Leaders, Women

02:27 min | Last month

Infrastructure, Jobs and Climate Change

"So i wanna start with your giving us an overview of the infrastructure. Plan as you understand it you know what do you what do you see is specifically in it. And what do you think the priorities are. Well thanks so much john. And it's a pretty comprehensive plan. And i think the general theme to keep in mind for your viewers is. This is very much a jobs plan. But there's no question in the minds of anyone who's read or in the administration that the belief behind the plan is that it at the same it deals with really four interwoven challenges that the administration is facing and of course the first is the post pandemic reality. The second is the economic downturn. The third is the climate crisis and the fourth is inequality and racial equity and the disproportionate environmental harm and other harms had replaced on low income communities and communities of color. No not putting those in any kind of priority. They're all of the utmost important but the general theme is that the road to economic recovery is through climate action and so it isn't infrastructure. A jobs plan. But there's no question that it very very intentionally addresses the climate crisis in a number of ways and know that the bite administration signaled his plans. He's been remarkably consistent with messages of last summer. If you saw the the biden clean energy biden plan he had a whole blueprint around clean energy and environmental justice and he has come through with flying colors in this plan. You know first and foremost it really is a building up of the clean energy sector the job-generating clean energy sector and the lesson from two thousand nine. As you all know now from the stimulus that then vice president biden worked on it. It just was simply not enough. Finding it wasn't enough finding it wasn't enough where the energy sector so this is gonna largely come through in the form of an array of renewable energy tax credits various forms and which are wildly popular and successful Those are really important. We'll certainly get the support of the business and there's something called a direct pay provisions that is important to renewable energy developers for those who may not have the adequate tax equity to benefit from a tax incentive. That's built into the into the whole thing at this point. I want to say that. There's something called justice. Forty which is outlined from the very beginning. President biden made it clear that forty percent of the benefits of his investments would go to underserved frontline disadvantaged communities

Biden John President Biden
After Afghanistan August, Biden Pivots to Domestic Agenda

Marketplace Morning Report with David Brancaccio

01:57 min | Last month

After Afghanistan August, Biden Pivots to Domestic Agenda

"I'm david brancaccio. The biden administration spent august focused on pulling the us military out of afghanistan and attempting to quell the delta variant. Now it's september. The white house is hoping to turn to its economic agenda marketplaces and dealers on the line with more of those priorities. That's right david. The white house is looking to pass more than four trillion dollars in domestic spending. Which includes that bipartisan infrastructure. Bill that biden is arguing is even more pressing after hurricane ida devastated the gulf coast and left some of the northeast flooded and he approved major disaster declarations up north. And he's also touring the damage in new york and new jersey today. And you know that he's going to be pushing that build back better agenda in the process and the bulk of the spending would come as a budget reconciliation package. It's called with the price tag of some three and a half trillion dollars with a t but sounds like summer worried about spending too much. Yeah that's exactly right. That's spending would effectively direct toward different social programs. Things like family services health. lots of environmental programs. Now senator joe manchin of west virginia. He's a pivotal democrat. Whose vote is key to getting anything through the senate. He's already said that. He's worried about the government racking up so much debt but the biden team is confident that he's going to be persuaded now. Biden's also continued to argue for a higher corporate tax rate to help pay for community. College paid family the expansion of child tax credit as well but in terms of capturing the spotlight afghanistan and pandemic. These are not going away. That's exactly right. They're not and it's really biden's hope that he can shift focus to his economic priorities but that could be easier said than done especially after two important pieces of the cove in nineteen relief. Package just ran out. The federal moratorium on evictions is over and just yesterday. Almost nine million people lost their unemployment benefits

David Brancaccio Biden Administration Hurricane Ida White House Biden Afghanistan Senator Joe Manchin Gulf Coast David New Jersey Bill New York West Virginia United States Senate Government
Two Anchors of COVID Safety Net Ending, Affecting Millions

AP News Radio

00:57 sec | Last month

Two Anchors of COVID Safety Net Ending, Affecting Millions

"Labor Day this year represents a perilous crossroads for millions of Americans his two anchors of the government's corona virus protection package end an estimated eight point nine million people are losing unemployment benefits with the three hundred dollar federal boost to weekly payments expiring a federal moratorium on evictions has already expired while other aspects of pandemic assistance including rental late and the expanded child tax credit are still widely available millions of Americans face Labor Day with the suddenly shrunken social safety net Senate Majority Leader Chuck Schumer says Congress should extend the added jobless benefits I believe in extending it they're a good number of congressmen and senators who do not we're going to fight to trying get it president Biden believes the U. S. economy is strong enough not to be rattled but on Friday he added states have the option to extend those benefits and the federal resources from the rest can plan to do so Ben Thomas Washington

Chuck Schumer Government President Biden Senate Congress Ben Thomas Washington
TikTok Is Making Tax Policy Cool

Reset

01:53 min | 2 months ago

TikTok Is Making Tax Policy Cool

"Dylan last month. You wrote about the tick-tock response to the child. Tax credit which are the monthly payments of up to three hundred dollars that went directly to parents in need during the pandemic. So what is it about these checks that made them so me mobile so i think The most important part of it is that the checks were not universal where nearly universal for the people being targeted. The child tax credit goes to all but the very richest parents in the country. Parents are very large group Parent mom dad focused to talk in facebook and instagram are all phenomena already and so it was very easy unifying thing and i think beyond that it all landed at the same time we not child caps. Probably your account on. You have no idea. It's it's not. As though people applied for at different times in started receiving edge of times it all rolled out on july fifteenth. And so when everyone's getting a sudden Deposit to their bank account at around the same time that makes it very easy to make content that people will relate to and dave. You see a lot of memes on tick-tock related to all kinds of big news. Events is tax policy. Usually up there as the most likely to inspire amine. It's not it's not the number one news event that might be driving different. Sort of tick-tock memes. But that's not to say that it couldn't be in this case it definitely was. I think it's really just about something any news. Event really that or government policy. That is easy enough to understand. And i would say under fifteen seconds. Don't make really good point that it was happening to a lot of people at once so the simultaneous nature of that where we also we're sort of experiencing that once really helps I think it all the way back to march twenty twenty when take talk had just a huge growth. In people that downloaded it was because the pandemic never was experiencing the same thing at once so a lot of the talks including washing post. Docs at that point. Where just all about going insane at

Dylan Facebook Dave
"tax credit" Discussed on Tesla Daily: Tesla News & Analysis

Tesla Daily: Tesla News & Analysis

04:37 min | 2 months ago

"tax credit" Discussed on Tesla Daily: Tesla News & Analysis

"Everybody robin our here and they were talking about some news on the federal. Us tax credit. There's been a new introduction there in the senate then. We've got some news out of china and berlin i two quick scheduling update as i mentioned at the end of yesterday's episode. I will be traveling this week. So i'm planning on probably doing a livestream tomorrow and probably without much equipment so might just be me talking to you guys face to face and then i'll have to be off on friday. I i up here. Let's talk about what's going on with this. Ev credit so we know that yesterday the senate had passed the infrastructure bill that includes funding for charging stations that will go over to the house of representatives. But in the meantime the senate has been working on the three and a half trillion dollar budget plan which the democrats hoped pass along side the infrastructure bill so the senate has done today is passed a budget resolution by a vote of fifty to forty nine and this while also then move over to the house of representatives. The house is currently on recess but will be returning on august twenty third earlier than previously scheduled to work on this budget resolution. The best way to understand what the budget resolution is to think of it. As a blueprint or framework. This is not a bill. It's not something that eventually get signed into law but it does outline the eye level goals for the budget in terms of spending revenues deficits and allocation of the budget then also serves as a prerequisite for the reconciliation process which we've talked about a little bit in the past. We all need to go through all the details of that but basically it's about the democrats hope to be able to use to eventually get this budget through congress so this is one step along the way many steps remaining there will be a low here for a couple of weeks and will probably start to hear more when the house is back and session so i mentioned that there was news on the tax credit. That news is from this budget resolution. Which remember is just outlining the high level framework so nothing here is getting signed into law. This is really just a set. The agenda and there will be ongoing debate about what finally ends up in. The budget reconciliation process. Hopefully that provides enough context to set the stage here so bloomberg reporting via auto news. Here quote the. Us senate voted fifty-one to forty-eight for a nonbinding amendment to president joe biden's three and a half trillion dollar budget resolution aimed at limiting who can get a tax break for buying.

senate house of representatives robin berlin china Us house congress president joe biden bloomberg
Senate Backs Limiting EV Tax Credits

Tesla Daily: Tesla News & Analysis

02:07 min | 2 months ago

Senate Backs Limiting EV Tax Credits

"Everybody robin our here and they were talking about some news on the federal. Us tax credit. There's been a new introduction there in the senate then. We've got some news out of china and berlin i two quick scheduling update as i mentioned at the end of yesterday's episode. I will be traveling this week. So i'm planning on probably doing a livestream tomorrow and probably without much equipment so might just be me talking to you guys face to face and then i'll have to be off on friday. I i up here. Let's talk about what's going on with this. Ev credit so we know that yesterday the senate had passed the infrastructure bill that includes funding for charging stations that will go over to the house of representatives. But in the meantime the senate has been working on the three and a half trillion dollar budget plan which the democrats hoped pass along side the infrastructure bill so the senate has done today is passed a budget resolution by a vote of fifty to forty nine and this while also then move over to the house of representatives. The house is currently on recess but will be returning on august twenty third earlier than previously scheduled to work on this budget resolution. The best way to understand what the budget resolution is to think of it. As a blueprint or framework. This is not a bill. It's not something that eventually get signed into law but it does outline the eye level goals for the budget in terms of spending revenues deficits and allocation of the budget then also serves as a prerequisite for the reconciliation process which we've talked about a little bit in the past. We all need to go through all the details of that but basically it's about the democrats hope to be able to use to eventually get this budget through congress so this is one step along the way many steps remaining there will be a low here for a couple of weeks and will probably start to hear more when the house is back and session so i mentioned that there was news on the tax credit. That news is from this budget resolution. Which remember is just outlining the high level framework so nothing here is getting signed into law. This is really just a set. The agenda and there will be ongoing debate about what finally ends up in. The budget reconciliation process. Hopefully that provides enough context to set the stage here so bloomberg reporting via auto news. Here quote the. Us senate voted fifty-one to forty-eight for a nonbinding amendment to president joe biden's three and a half trillion dollar budget resolution aimed at limiting who can get a tax break for buying an electric car or truck. And which vehicles qualified

Senate House Of Representatives Robin Berlin China United States House Congress President Joe Biden Bloomberg
When Parents Can Expect Their Next Child Tax Credit Payment

Morning Edition

00:11 sec | 2 months ago

When Parents Can Expect Their Next Child Tax Credit Payment

"Round of advanced child tax credits to more than 30 million qualifying households across the country. His case here. W. Tara A tree in reports L. A County wants to make sure that local parents,

W. Tara
IRS Warns of Child Tax Credit Scams

News and Perspective with Tom Hutyler

01:46 min | 2 months ago

IRS Warns of Child Tax Credit Scams

"You're eligible for the federal child tax credit, some scammers maybe try to cheat you out of your money. We told you a little bit about that story a moment ago, and here's more from ABC is Rebecca Jarvis, a text message with a link to apply for the child tax credit an email asking to click and claim your economic stimulus payment. These are fake. According to the IRS. Cybercriminals, actively trying to scam entitled Families Out of this money were seen scammers trying to take advantage of the American public by attempting to gain information using Phone calls EMAILS cats messages through social Media, the better Business Bureau, also with an alert child tax credits are coming, and so are the scammers and cybersecurity firm Domain tools reporting it's found nearly 50 sites pretending to be part of the government's American rescue plan, which includes the child tax credit. If you were searching for, you know American relief plan, you may come across one of these sites domain tools, saying while many of the sites have since been taken down. These are still active, all with a similar design and all not ending in dot gov. A major red flag. These sites still safe enough the identity information the sites asking for your social security number and driver's license or state ID number to apply, They'll be able to steal someone's refund. Checked and also, you know, log into, uh Any sort of bank account information. GM a tried contacting the sites for each either no response. Or we couldn't get through to reach a person, the IRS stating it does not contact taxpayers via email, text message or social media platforms to request personal or financial information for verification or any information related to the child tax credit.

Rebecca Jarvis IRS ABC Better Business Bureau GM
Brianna Walker Brent, Treasury Department And Jennifer Bracelet discussed on AP News Radio

AP News Radio

00:47 sec | 2 months ago

Brianna Walker Brent, Treasury Department And Jennifer Bracelet discussed on AP News Radio

"Monthly payments for low income families from the expanded child tax credit are starting to arrive the treasury department estimates that over thirty five billion families are receiving payments averaging four hundred twenty three dollars in July as part of the expanded child tax credit part of president binds one point nine trillion dollar corona virus relief package it was great I immediately paid my rent which was late Brianna Walker Brent we do Hampshire is taking care of three children and took custody of two siblings last year it's going back into the day care it's going into the food it's going to the grocery store Jennifer bracelet share is the director of the daycare that Walker's children tend to not feeling quite so like they're living on the edge one study from the center on poverty and social policy at Columbia University estimates the payments could cut child poverty by forty five percent they're also a test of sorts president

Walker Columbia University Forty Five Percent Last Year July Three Children Two Siblings Nine Trillion Dollar Brianna Walker Brent Jennifer Four Hundred Twenty Three Doll Over Thirty Five Billion Famil Hampshire One Point One Study Virus
"tax credit" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

03:21 min | 3 months ago

"tax credit" Discussed on Marketplace Morning Report with David Brancaccio

"Com slash tech trends advocates are pushing for more housing assistance in the three and a half trillion dollar infrastructure. Bill congress is now trying to cobble together. They want more money for federal vouchers to help. Low income people pay rent. A new report says the average. Wait time for vouchers is now about two. And a half years marketplace's. Nancy marshall genzer reports the federal housing choice voucher program which used to be known as section eight is for low income families struggling to pay the rent. The voucher money goes right to the landlord a housing choice voucher. Basically just provides helps bridge the gap between rents and incomes sonia. A costa is a policy analyst at the center on budget and policy priorities. She says generally families with vouchers pay thirty percent of their income in rent with the voucher covering the rest ten in supply for the vouchers through their local housing agencies. And then they wait and wait. A costa co-authored a report. That says the wait time for vouchers can be eight years sixty-six-year-old maryland charles. A childcare provider in brooklyn says. She's been waiting even longer about a decade. I never thought for in my wireless dream. I would have to wait over ten years. Charles says her child-care business dried up during the pandemic her rent is more than sixteen hundred dollars a month. she couldn't pay and his two months behind now. She's afraid she'll be evicted. I really worry about kitchen scary. And at my age going you know. It's really worrisome. Charles applied for a voucher through the new york city housing authority. Which told me it's working with charles on her voucher request will fisher director of housing policy at the center on budget and policy priorities. Says the problem is the voucher. Program is chronically underfunded and there's always been lots of people who are struggling to afford housing and facing really serious hardship that aren't able to get a voucher. Because of under-funding fisher is hoping for enough new funding to at least chip away at the wait list. He says one hundred fifty billion dollars would pay for around two hundred thousand vouchers a year for a decade. I'm nancy marshall genzer for marketplace and the value of the cryptocurrency. Bitcoin is running at about thirty. Eight thousand four hundred right now. Up twelve percent today after hitting its highest point. Since early june some analysts think this is all the people who had bet on. Bitcoin's fall buying like mad today square. They're bad bets. And david brancaccio. You're listening to the marketplace morning report from apm american public media. Hey is jed. Kim host a million bazillion million brazilian is a podcast for kids and families. That helps dollars make more sense in each episode. We tackle the tricky questions that your kids have about money. Like how is it made is our factory somewhere that makes it. Or what determines the price of visa and we're back with all new episodes. That's more answers to the questions. Your kids wanna know thoughtful ones. The silly ones and the really hard. To answer one's million. Zillion listen wherever you get your podcast..

Nancy marshall genzer center on budget and policy pr maryland charles costa Charles sonia fisher new york city housing authorit congress nancy marshall Bitcoin Bill brooklyn david brancaccio apm american public media
"tax credit" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

01:32 min | 3 months ago

"tax credit" Discussed on Marketplace Morning Report with David Brancaccio

"I'm david brancaccio. There's a cautious vibe on financial markets this morning with one catalyst out of beijing government regulators. There have been getting stricter on some big tech companies but now the crackdown is extending to education companies. The hang sang. Stock index in hong kong fell four percent. Today they'll be like the dow here falling fourteen hundred points in a day. Authorities in china are worried about families spending too much on companies. That offer supplemental tutoring adding to the sometimes crushing pressures on young people to keep up their grades my marketplace colleague. The bbc's victoria. Craig has more on that story. Shares of companies offering after school tutoring and test prep services. Shed nearly half of their market value on the hang sang today. That's after chinese. Authorities banned the companies from teaching core subjects effectively their main source of revenue. David co founder of the smart investor explains the background for this decision. Primary recently said they wanted the population size amongst families to grow because of this aging population that they have and we get family saying it's too expensive to educate children. China has stepped in and said well. Maybe the solution is to get these. Private tutoring companies to charge less well. Education is one of the biggest drivers of today's losses. The simmering trade spat with the us and an ongoing clampdown on china's big tech companies also provided a drag shares of ten cents sank nearly eight percent after regulators barred the company from exclusive music copyright agreements and issued a fine for unfair market practices in london. I'm the bbc's victoria craig.

"tax credit" Discussed on Money Girl's Quick and Dirty Tips for a Richer Life

Money Girl's Quick and Dirty Tips for a Richer Life

01:55 min | 3 months ago

"tax credit" Discussed on Money Girl's Quick and Dirty Tips for a Richer Life

"A great way to jump start. Your success is my best selling online class. it's called get out of debt. Fast proven plan to stay debt free forever. Take control of your finances by joining this super affordable class. You'll come away with a clear. Debt reduction plan to eliminate credit cards student loans bills mortgages or any debt. You know even if you don't have extra money to pay them off faster and another course to check out if you're struggling to build credit right now. Is my online class called build. Better credit the ultimate credit score repair guide. It gives you the best twenty one strategies to raise your credit scores. Cut cost that factor your credit and get the financial safety net. You deserve you simply won't get different results with your money. If you don't take different actions. So i love you to check them out and learn more to do that..

"tax credit" Discussed on Money Girl's Quick and Dirty Tips for a Richer Life

Money Girl's Quick and Dirty Tips for a Richer Life

05:16 min | 3 months ago

"tax credit" Discussed on Money Girl's Quick and Dirty Tips for a Richer Life

"A gi by tax filing status. That you've gotta meet to claim the full child tax credit for twenty twenty one. If you're a single tax payer you've got to earn seventy five thousand dollars or less. If you're a head of household you must earn one hundred twelve thousand five hundred dollars or less and if you're a married couple filing taxes jointly you must earn one hundred fifty thousand dollars or less so let me give you an example..

"tax credit" Discussed on Money Girl's Quick and Dirty Tips for a Richer Life

Money Girl's Quick and Dirty Tips for a Richer Life

05:50 min | 3 months ago

"tax credit" Discussed on Money Girl's Quick and Dirty Tips for a Richer Life

"I picked up several items for the warm weather including shorts. Jean skirts and linen joggers. Everything is super cute in great condition and more than sixty percent off what i would have had to pay retail. Get the sound you love at a fraction of the price. You'll look and feel good with threat up and for money girl listeners. Here's an exclusive offer just for you get an extra thirty percent off your first order at thread up dot com slash money. That's t. h. R. e. d. up dot com slash money for thirty percent off your first order threat up dot com slash money for an extra thirty percent off today terms. Apply before i go on. Today's episode is sponsored by policy. Genius policy genius makes it easy to compare quotes from over a dozen top and shores all in one place you can say fifty percent or more on life insurance by comparing quotes with policy genius. You could save thirteen hundred dollars or more per year on life insurance by using policy genius to compare policies just head to policy genius dot com in minutes. You can work out how much life insurance coverage you need and compare personalized quotes to find your best price. Eligible applicants can get covered in as little as a week. Thanks to a policy option that swaps the standard medical exam requirement for a simple phone. Call this exclusive policy was recently rated number one by forbes. Best of all all the paperwork has handled by policy genius and there are no extra fees head to policy genius dot com to get started right now policy genius when it comes to insurance. It's nice to get it right. So as i mentioned you may have already received your first child tax credit payment..

"tax credit" Discussed on Money Girl's Quick and Dirty Tips for a Richer Life

Money Girl's Quick and Dirty Tips for a Richer Life

05:25 min | 3 months ago

"tax credit" Discussed on Money Girl's Quick and Dirty Tips for a Richer Life

"Lately. And that's what our show is about the child tax credit payments. These are going out from the irs. Too many american families in fact you may have already seen the money. Show up in your bank account. This podcast will review what the child tax credit is and who qualifies for it. You'll find out how much you could receive. And if it could affect your future tax refund so let's start out with a primer on what it is exactly the child tax credit. It's not new. It's something that's been around actually. Since one thousand nine hundred ninety seven however due to covert relief known as the american rescue plan of twenty one the credit has changed significantly for a limited period. If you have kids you're probably familiar with the child tax credit. But if you're like me and you don't have kids. The credit may be news to you. So let's talk about it. The child tax credit is a federal benefit for qualifying tax payers with one or more qualifying dependent children. It puts more money back into the pockets of families. By reducing the amount of tax they owe or increasing their tax refunds. Unlike a tax deduction attacks credit works very differently. It cuts your tax bill on a dollar for dollar basis and that makes it a lot more valuable than a tax deduction. Let me give you an example. Let's.

"tax credit" Discussed on Money Girl's Quick and Dirty Tips for a Richer Life

Money Girl's Quick and Dirty Tips for a Richer Life

02:57 min | 3 months ago

"tax credit" Discussed on Money Girl's Quick and Dirty Tips for a Richer Life

"So erin i would start by asking your existing bank if they offer a sweep or if they have any recommendations and if you have a relationship with a brokerage firms such as vanguard or fidelity they may offer a sweep account for you so contact them about it as well. Just be sure that the fees for having a sweep account are offset by your earnings. All right i got another question from chantal. Who says i've been listening to your podcast for the past two weeks. And one day i even went on a binge and listen to twelve episodes. It's great stuff. And i recommended you to my daughter. Shantelle that is incredible. Thank you for binging episodes. All right she says. I have about fourteen thousand dollars in a traditional ira but after listening to one of your shows. I realized that. I should be investing in a roth instead so i won't have to pay taxes on distributions in retirement. Is it a good idea to convert the traditional ira to a roth ira now and take the tax it. I'm fifty five years old and have about seven years before i retire. I also have a tsp at work. That i maxed out. And i have six months of savings shantelle. Thank you for your question. And by the way. Tsp stands for thrift savings plan..

erin vanguard fidelity chantal
"tax credit" Discussed on The Novice and The Nerd

The Novice and The Nerd

04:38 min | 3 months ago

"tax credit" Discussed on The Novice and The Nerd

"Be never ending all opinions expressed by derek and laura are solely their own and do not reflect the opinion of strategic point investment advisors. This podcast is for informational purposes. Only and should not be relied upon for investment decisions. And now here are your hosts. Derek amy and laura barred welcome back to another episode of the novice in the nerd. I am your host derek. And i'm all joined by my co host lard. How we doing lower barred doing good seeing some sun outside some happy. Over the reign of i now i know i think it's coming back but happy for a couple of days of sun. Unfortunately the folks out west need the rain and we could use some sun but we can't choose doesn't work that way so another action packed fun filled podcast for those of you. Who paid for your seat. You might only need the edge today. That's how action packed. This is going to be dramatic. What are we. What are we talking about today. All right so first. We're going to talk about the child. Tax credit because like many government programs there's some confusion around it and even i had to read it a couple of times to fully understand what the heck they were saying so as as a parent of two lovely in yet energy filled boys under the eight. Both of which are under the age of six which is a deciding line. I was interested in on what the impact was going to be. And then obviously you have two older kids so this child tax credit when i say tax credit what does that. What does that mean to you. I look at it. As it's a credit i get on my tax return every year for having kids but i really don't know what that means. Yes so actually. That's pretty much spot on prior to nineteen ninety-seven people who had kids just had to deal with it in nineteen ninety-seven they. they pat. The government passed the first child tax credit which was four hundred dollars. A kid basically came off of your adjusted gross income as long as your kids were under seventeen so it was just a flat. Four hundred dollars per year per year. Okay but not very stimulative but again you know if some if i was walking down the street and there was four one hundred dollar bills laying on the side of the road. I'd probably pick them up to check. Then in two thousand three it went two thousand..

Derek amy derek laura confusion
"tax credit" Discussed on The Daily Dive

The Daily Dive

07:34 min | 3 months ago

"tax credit" Discussed on The Daily Dive

"Families may need to sign up an irs portal. The biden administration says that these expanded tax credits could reduce child poverty by as much as fifty percent and hopes to get a four year extension for the program. Lauren egan white house reporter at nbc. News join this for what to know as anything with taxes is never that simple next. Former president trump is not happy about recent excerpts from a trio of new books about his presidency. there will also be more books to come including very anticipated. Release from former counselor kellyanne conway reports say that trump sat down for at least twenty two book interviews meredith mcgrath national political correspondent at politico joins us for how trump is raging. Overbooks did interviews for finally professional doctors are having to deal with an increase in misbehaving pandemic puppies because of porn teens and shutdowns many first time dog owners didn't properly train or socialize their pups which led them to be overly reactive or have separation anxiety. Big worry for these trainers is that if people can't get their dogs under control they may be surrendered. Bailey burg contributor to vice news joins us for more news without the let's dive. It shouldn't let taxes go up working families. We shouldn't let child. Poverty continue to stain the conscience or dragged down our economy. And so i say to my colleagues in congress this tax cut for working families is something we should extend not end next. You joining us now. Is lauren egan white house reporter at nbc news. Thanks for joining us. Learn thanks for having me. The expanded child tax credit. The first wave of monthly payments have started hitting bank accounts already. These payments were included as part of the american rescue plan. The biden administration is very happy with these say that this could help reduce child poverty by as much as fifty percent. Lauren tell us a little bit more about these monthly payments. Now that's right these. Are you know some listeners might be familiar with them. They have existed in the past but these are now expanded. It's going to be more money and it's going to include a more people so before if you didn't file taxes or you didn't have any income you were left out of these benefits. That's all changed now. So that's why the white house is really touting this saying that these payments are going to have the the potential to cut child poverty in half which is a huge change from how the tax credit you used to work before but still you know the program faces some challenges you mentioned. The eligibility has changed. But you still have to sign up for it. You still have to go onto the web portals and all that to be able to claim this money and the white house's acknowledge that this is one huge downside of this program if you don't file taxes then you have to go to the irs website and submit all of your information You know an ira or government website. You're familiar with how cumbersome they can be so that's going to be significant challenge. Another problem with it is that right. Now it's just an english show and not speak english as a first language dot going to be challenging as well and then a third challenge is just some people. Don't know that this program exists. You saw president biden on thursday. Gave a big speech about the child. Tax credit vice president harris also talked about it. But if you don't know that this program exists and it's pretty hard to get someone to go and actually sign up with the irs. Thirty nine million families are eligible. And who have already filed taxes or received the stimulus payments. They're already in the system. They don't need to do anything but they estimate that there's four million to eight million eligible children that are at risk of missing out on this because you know of a number of reasons. These families need to go sign up for that. So lauren walk us through whose qualifying. How much money are we getting. What are the changes. So any person who claims independent who seventeen years or younger qualifies for this tax credit and depending on how old your kids are. That's gonna depend on how much money you get. Your child is six years and younger. And you're going to see a little bit more money than if they're six to seventeen and the irs determining your kids age depending on how old they are in this calendar year so for example if your child turns eighteen and twenty twenty one they are not going to be eligible for this payment and there's also an income cap so you're gonna get the full benefit if you are a single parent who makes up to one hundred and twenty thousand dollars a year or your joe beyeler who makes a hundred and fifty thousand dollars a year and the payment start to taper out the more money you make with really phasing out once you're above that four hundred thousand dollar income threshold features of this obviously is that their monthly payments. You can also opt to get it as a lump sum at the end of the tax season and all. But that's one of the things you know. Nothing is simple when it comes to taxes. Unfortunately and that's one of the things that could trip some families up depending on the tax filing that used. If you made more money you know these prepayments that they're making here could kind of bite in the but later on so again. Oldest information has to go to the irs so if you for example how to kid this year and you think that you should be getting credit. Let's say you got married. You lost the job anything like that. That could impact. How much money you getting. You have to file this all with the irs. Now for family changes at for example if you had your first kiss year. Dot can't be uploaded with the irs until later on in the summer there's two different irs portal's one of them is just to register your tax information so there are non filer. That's going to be a separate portal. Then family changes that you might want to register with the irs. Obviously having two different. Irs government websites only makes us a more complicated and more challenging process to folks. The white house did release a new website. What she asked now puts us at three different websites really a new website this week to try and streamline some of the information so many folks who are confused about what they need to do. The white house does have a new landing page. That tries to help people sort through this but as you mentioned anytime we're talking about taxes the irs is never ever easy these expanded credits end. In december president biden has called for a four year extension to all of this would need congressional approval. How does that look. I mean is there support for something like this. Yeah that is a great question and we don't have the answer to that right now. White house press secretary. Jen psaki was actually awesome about this. During thursday's briefings whether or not biden would accept a spending package. That's being negotiated right now with senators if you would accept something that didn't have the extension to it and she said that biden was open to changes to his proposal. Which kind of leaves the door open for there to not be that four year extension but a lot of progressives democratic progressives have said that they want to make this permanent not just a four year extension. This needs to be permanent. This is just a huge wave of money. That's going to be going to a lot of families up to three hundred dollars per kid per month for some folks so this is going to be a huge challenge in battle. I think we're going to see on capitol hill and the coming days as we continue to talk these infrastructure and spending package negotiations lauren. Egan white house reporter at nbc news. Thank you very much for joining us. Thanks for having me..

biden administration irs white house Lauren egan kellyanne conway meredith mcgrath politico joins Bailey burg trump lauren egan president biden nbc news joe beyeler nbc Lauren congress
"tax credit" Discussed on Startup Talk Toronto's Startup Podcast

Startup Talk Toronto's Startup Podcast

04:49 min | 6 months ago

"tax credit" Discussed on Startup Talk Toronto's Startup Podcast

"The one thing to note is that the the digital media tax credit takes about a year it used to be about a year and a half to two years to get approved a but they've cut it down to about a year and that means that you could have claim shred within that year. So you're going to have to identify. What potential shred that. You're gonna be cleaning and subtract that from the digital media because you can't double dip for both so either you're claiming for For digital media or you're claiming for shred now when you're developing educational products for children under twelve. Most likely it's not going to be eligible for shred so most of your development is gonna go under digital media. Also the digital media tax credit covers a lot more labor than what shred would be eligible. So if you have illustrators Restorers like people who are artists. That wouldn't typically be eligible under shred. Those all can be eligible under the digital media tax credit again. It can't be one thing is in. This is probably again is that it can't be a not for profit. You have to being taxes. You have to be a a canadian or a canadian corporation. that is at his for profit. So eligible eligible expenditure. So we'll get into this real quickly. I'm -tario labor expenditures and one thing. We'll get into the eligibility of subcontractors because there is a little finicky kinda ruler so must be paid to individuals that reside in terrible and it must be. They must be directly attributable to the development of the of the product itself. That you're developing so again that's vague. But that can include a lot of people it conclude pretty much anyone who's on your payroll who has touched the product types of development of the product paid for services rendered at a permanent establishment on interior and incurred in the three year period prior to the completion of the products. So it's something. I didn't touch on so what you can do. When you're claiming for a product because this product based so what that means is you can claim it what you've completed the product. Once the product is launched. The good thing about the digital media tax credit is you can go back up to three years and captured all of those costs that relate to the development of dot product from the fiscal year that it launched so if it launched in july. Or let's say we're we're in april launched in april this year. You back three years in claim all those costs going back to april three years ago now.

april july april this year both about a year and a half two years three year three years under twelve one april three years ago canadian about a year one thing
"tax credit" Discussed on Cheers To Business

Cheers To Business

04:11 min | 8 months ago

"tax credit" Discussed on Cheers To Business

"And they still have to process everything and they're backlogged and they're very backlogged but the seventy two hundred is one page is nine forty one x right now with four pages so i think the seventy two hundred for twenty twenty one is a little easier. I've i'm encouraging people to go ahead. See if you qualify. See if your wages are down if you were shut down partially shut down you know it. I think your explanation helped me in the definition of what partially shutdown is so. Want to especially thank you for that because we you know we were concerned. You know even if you're not gonna get a check tomorrow because it doesn't look like you're going to know that it's out there at least get it balled. Yeah get a final and unfortunately it's going to be a weight and the credit will come back to in the form of paper check from the. Irs coming through regular mail so will yet snail mail so this is all gonna take some time to really process now twenty twenty one credits could be applied towards your current payroll taxes and you could choose to take advantage of it that way if you would like to but you need to be absolutely sure that you are qualified and that you know. The math is all done correctly in. I would recommend to people who are just at that twenty percent cuss like they're fully open and they're not quite sure if they're going to be twenty percent undergoing head and get through the quarter and do your books for the quarter then take a look at it and then take advantage of the credit and but if you are partially closed in twenty twenty one you can still take advantage of it as you go so taking advantage of the money right now might be the way to go for folks who absolutely no qualified. Today i'm going to thank you for democrat down for me in layman's terms. 'cause i'm outta pocket. You know i'm not doing this everyday now. You so helpful. And i wanna thank you so much for coming on the show today now. I know there's more details you could go into that. We could talk for hours and people's eyes would just glaze over. So what does the three biggest things you can tell the listeners right. Now what to do about this stuff. Contact your payroll professional. If you don't have one you can reach out to pair of all of course at least touch base with your accountant or tax attorney. Just find out if you qualify. Don't assume that you don't take a look at will dot com if you click on our blog link..

twenty percent Today one page tomorrow today four pages will dot com seventy two hundred three biggest things nine forty one twenty twenty one credits one twenty twenty one
"tax credit" Discussed on Cheers To Business

Cheers To Business

03:43 min | 8 months ago

"tax credit" Discussed on Cheers To Business

"You qualify if your business essentially runs the same and you have remote employees. That cuts out of mine. So i if it says you have office employees. They work on computers. You heard about this coming. Government did saying everybody else to go home but you guys basically picked up your laptops and plugged in to ethernet at home and started working from there and you really didn't miss a beat in revenue was all the same. The no you wouldn't qualify but if you're new was down how much could you qualify under that scenario in that scenario last year you'd have to be down more than fifty percent see it wasn't you know i've got companies. That aren't qualifying. It seems like it'd be so easy to qualify this. Not so i just keep restaurants. Just keep begging me in the head and bars that they would automatically qualify being. I haven't seen a restaurant or a bar that hasn't qualified. Okay all right all you wish. Toronto owners and bar owners out there and anybody that was shut down and saw a reduction in revenue. At least check it out. Now who this say. Somebody does their payroll on quickbooks. They are not. They are not wise enough to use a payroll. Just say what should they do. Let's just say they have a tax person. They go once a year to see so they don't have an adviser and they're doing quickbooks themselves. They like quick books to the payroll tax returns with gusto or someone of those gusts does not touching this stuff. Some of the payroll companies are not touching. This is in that right. that is right. We've heard that from a lot of people who are ringing our phones that our clients payroll company seemed to be saying figure out the numbers yourself and give them to us and then we'll file your adjusted returns but for the client to do the math. It gets very very complicated in this is why so you are able to take advantage of the credit. If you received the ppp loan in two thousand twenty but you can't double dip so if you have your forgiveness window of the time that you received ppp money you need to carve out the amount of your loan in the amount that you claimed for payroll so you got a loan for one hundred thousand and sixty percent of that was cleaned and went toward payroll for your p. forgiveness so you have to carve out sixty thousand dollars from the rtc credit as far as those wages because you can't claim that ppp wages and the rtc wages in the same year. See that makes sense to me. You can never double dip. Yeah you can never double-dip But it it does make sense but when you actually sit down to do the maps for somebody who does their own payroll through cookbooks gusto. They really are going to have to sit down with it and comb through the numbers. I recommend engaging with a professional to take a look at your payroll journals and the taxes paid and your and your forgiveness window because all of those things need to be considered while you're figuring out your credit i could see where people would just getting a lot of tr- they could get a lot of trouble in china do anything bad just by calculating it wrong in the backfires on them sudden. Somebody's go knock at the door and want their money back right now. I saw something interesting. Yesterday you amend the non forty ones which is the payroll tax return that reports federal withholding social security medicare and asia quarterly. And so you amend that to get the refund which is the tax credit now with a lot of people don't realize that a tax deduction is not a tax credit. Ed deduction reduces your income. That you're gonna be taxed on but the tax credit is a dollar for dollar getting the tax back. Now let me ask you this. What about me. As an owner dumas wages qualify..

one hundred thousand sixty percent sixty thousand dollars two thousand china last year Toronto Yesterday more than fifty percent Ed forty once a year twenty asia
"tax credit" Discussed on Cheers To Business

Cheers To Business

05:11 min | 8 months ago

"tax credit" Discussed on Cheers To Business

"Thousand dollars for employee for ten thousand dollars paid in wages. I haven't seen a restaurant or a bar that hasn't qualified and anybody that was shut down and saw a reduction and revenue at least check it out. Hey everybody welcome to the show today. We're talking about a top but not many people understand employee retention tax credit. But they goodness this lady does ms tricia pettis chief operating officer of payroll bolt corporate pyro about franchising in denver colorado. Hey i'm karen. I'm a former. Cpa entrepreneur business consultant with big ideas. Welcome to tears to business trish. Thank you for being on the show problem. Thank you for having me. Well.

today ten thousand dollars karen tricia pettis Thousand dollars trish denver colorado payroll business
"tax credit" Discussed on The Frug Life

The Frug Life

08:04 min | 1 year ago

"tax credit" Discussed on The Frug Life

"From San Diego California. It's the Frugal Life podcast with your host Ricky Hershey. A lot of times people ask me as a CPA. What are some ways I can save money on taxes. Like what are the best deductions to look at after explaining to them? I'm not the kind of CPA that works on taxes. I explained. Well typically deductions require you spend an additional dollar to save $0.30 on taxes while actually $1 * your marginal tax rate and savings spending more on deductible items isn't going to net you more cash. Typically however with tax credits each dollar of credit reduces your tax burden by a dollar my guest. Justin is going to talk about an awesome credit the R&D credit, which might help you save big on your taxes. Thanks for inviting me on the show Ricky. I'm glad to be able run this segment to give a little background about myself. I am an educator turned entrepreneur. I taught for six years and just had an issue to bring more value to the world. Not the teachers don't bring a ton of value. But personally I needed to grow and find something that pushed me further. I started in flipping houses and eventually found my way to insurance and taxes. I found a niche within a tax industry that is just simply being missed by a lot of business owners my business helps profitable tax pain small to medium-sized business owner understand and use the research and development or R&D tax incentive out of all the R&D credits claimed 85% of those are claimed by America's biggest companies meaning only 15% of the credits were too small or medium-sized businesses. However, it's not because these businesses aren't qualifying. It's just they aren't claiming them. We help them claim them. On average we get back our clients 10 to $30,000 a year depending on the size of the business the number of employees and the type of work being done. That number can be much larger as well. We've had some get back hundreds of thousands of dollars here a few examples to highlight the potential of this incentive dental practice. We got back $74,000 a software developer job at $60,000 chiropractor. $25,000 Keller Williams Real Estate principal broker Miss Downing $800,000 a Chick-fil-A franchise owner hundred and ten thousand dollars with that much money being talked about the next question. I usually get is how do I qualify? There's something called the four-part test but I found it, this business owners more than it helps them. So we have business owners ask themselves the following questions if they answered yes to two or more of them. There's a high probability that qualify. So here are the questions wrong. Do you offer employee health insurance without receiving Wellness incentives? Do you custom design your Solutions over an off-the-shelf solution? Do you perform any design work? Do you have any other Publications out of city or state do you export products to other countries or have wholesale components to your business? Do you perform any training for yourself or your team via the Internet in the last five years have you upgraded or improves your website initiated any type of social media campaigns changed adjusted or improved your eCommerce software made adjustments to your business model changed your procedures or your processes lastly taken any risk within your business. Again. All you have to do is enter. Yes to two of those questions. You might be at a point Ricky. We are listeners like you say to themselves how have I never heard of this or why hasn't my CPA told me about this because I think my business would qualify before I can answer those questions. I think it's important to learn a little wage. About the history of this incentive to better understand why you haven't heard this from World War Two to nineteen eighty the US share of the auto economy went from 80% to 20% in 1980. Japan became the world Auto industry leader the spark to change the US want to keep their minds the best Minds on us soil. They wanted to be leaders in the world economy and one solution for doing that was to provide a monetary incentive to get businesses to innovate invent and create. Thus the R&D tax incentive was born from 1981 to 2015 disincentive expired and changed or fifteen times only United States biggest businesses could afford to keep up with it and use it in 2015 the path act permanently put the R&D Crown the tax code and opened. It's available and small businesses. Not just the big boys yet, even though it's been five years since its availability. We are still seeing 85% of R&D credits being used by the United States big dog. Japanese small businesses around the country are missing out on tens of thousands dollars a year and potentially hundreds of thousands dollars a year by not using this incentive with that background we can now broach the subject of why hasn't my CPA told me about this honest answer is I don't know but I have two possible solutions as to why first we like to simplify it this way. There are two sides of the tax code sent number one is pay as little as possible to deductions expenses Etc. Most CPAs understand are masters of this side of the tax code side. Number two is the credit rebate incentive side, which is just as large and complicated aside number one get far fewer CPAs understand and master this side of tax code. We are just one of many R&D tax credit firms Nationwide we help fill in the Gap where other CPAs don't feel as comfortable or knowledgeable. We've also found that many CPAs are reactive versus proactive mean a CPA can't help you tweak things to better qualify until it's too late another common question, I guess. Is will this spark and on it anyone or any business can be audited anytime regardless of what you are doing with that said the R&D incentive will not be the reason you get it on the process of qualifying for the credit requires a pre-audit from an IRS agent. They won't give you the money unless you qualify the whole process takes about 1 to 3 months to review from an actual person. The question to ask yourself is why would they call an audit on something? They just spent three months reviewing to see if you qualify a business owner would need to contact an R&D specialist firm. I would highly recommend using affirm that first month does a free qualification check this ensures that you don't pay a penny until you know, if qualify and for how much second I would recommend using a company that only charges a percentage of what they find that way the Box comes from the main sound if you want to work with my company go to ww.w Big Life Financial birth. It's here. You'll get a free e-book to further expand your knowledge of the credit and set an appointment to speak with an R&D specialist. Again. That is w w Big Life Financial research credits. Thank you Ricky for allowing me to come on your show and share something that benefits so many small-business owners. Thank you. Who are you there? Well, it seems like the ad read is upon us. Why am I a pirate? Well, I just wanted to tell you about me anchor of the platform that lets me share my podcast with these yard our anchor be the easiest way to make a podcast and it's so simple even a humble pirate like me can be a podcaster me anchored distributes the podcast and now they make money from ads, so I don't have to plunder the Seven Seas download the anchor app or go dead. anchor FM to get started.

Ricky Hershey business owner United States San Diego California Seven Seas Keller Williams Real Estate Justin Japan software developer America Miss Downing principal IRS