Best Business Tax Consultant in Chicago, IL, Discusses American Rescue Plan Act Relief For Businesses
The American Rescue Plan Act of 2021 (ARPA 2021) was part of an overall plan to help people and businesses through the pandemic and provide some relief to those who suffered financially. Some of the relief included tax provisions. Jeff Badu, a business tax consultant working in Chicago, Illinois , made sure to understand the tax portions of the plan and provide that information to his clients. Among the important tax information Badu mentioned: The employee retention tax credit extended to December of this year. Tax credits for emergency family leave extended to September of this year. The opportunity for loan advances through the SBA are not included in taxable income. “To the average person, this may seem minor, but small businesses need to account for every penny. These benefits can make a really nice difference in tax burdens for the 2021,” said Badu of his accounting services in Chicago, IL . Badu Tax Services LLC works with small and medium sized businesses with their ...