SSB’s office will be closed Friday, June 25. Team members working remotely can be reached via email. We will return Monday, June 28. Have a good weekend!
Wedding season typically peaks in late summer and early fall, according to wedding website TheKnot.com. This year, that peak may be even more noticeable due to pent-up demand for wedding festivities caused by the COVID-19 pandemic. Last year, because of health concerns and restrictions on in-person events across the country, many people postponed their nuptials—or at… Continue reading
Families may be able to cash in on various tax credits to offset their tax liability on a dollar-for-dollar basis. Plus, recent legislation has enhanced some of the credits for 2021. Here’s an overview of four key tax credits for families that are currently on the books. 1. Child Credit Through 2025, eligible parents could claim… Continue reading
For many families, the tables may turn, and adult children provide financial support for their parents. For example, you might have moved your in-laws from a long-term care facility into your home during the pandemic for safety and convenience. Or your widowed father might still live in his own home, but his pension might not be… Continue reading
Is your family planning a road trip this summer? Many Americans are expected to hit the road as many parts of the country have relaxed their COVID-19-related restrictions on in-person gatherings, dining, recreation and events. Though road trips are generally less expensive than air travel, rising gas prices could increase how much you’ll need to budget… Continue reading
Many privately held businesses have incurred losses during the COVID-19 pandemic. Unfortunately, the federal income tax passive activity loss (PAL) rules can limit an owner’s ability to currently deduct tax losses thrown off by passive activities. Here’s an overview of how the PAL rules apply to members (owners) of limited liability companies (LLCs). Focus on LLCs… Continue reading