Ochuns Tax Services

CHILD TAX CREDIT 2021 The IRS will send those payments out $350 for parents of children up to 6 years old, and $300 for parents of children ages 6-17 monthly beginning in July, the release said. The payments will continue through December. The credit is available to married taxpayers filing jointly who make less than $150,000; those filing as head of household who make less than $112,500; and all other taxpayers who make less than $75,000.... If an eligible taxpayer does not want to receive the 2021 Child Tax Credit in advance, they will have the opportunity to decline those payments and receive the full benefit when they file their 2021 tax returns next year.

Sorry Closed We will be back on Tuesday.Due to sudden changes with IRS, the systems are being updated with current changes in order to proceed with current returns and amendments of edd changes. We will get back to all as soon as we can. Thank you.

$1400 STIMULUS Check your accounts payments have started! If you file married with a ITIN holder you will still get a payment ITIN holders not eligible ... All age dependents will get stim This not the same stim Governor is giving Child tax credit package is in July If you file with ITIN and dependents have a valid ssn you will get those stimulus payments See more

All ITIN HOLDERS TO QUALIFY We can help to renew or file for an ITIN application. All who hold an ITIN and file a tax return would qualify for the new upcoming STIMULUS! Book your appointment today and will do the rest to help you.

IRS E-FILE DAY IS FEB 12TH THERE HAS BEEN A DELAY WE PROCESS E-FILE A WEEK PRIOR... NEW FORMS NEW CREDITS USE AIG FROM 2019 OR 2020 BIGGER EIC AND CTC REFUNDS You can call my office to book an appointment at 661-234-3399 or book online through the link IG link.

Stimulus Deposit bank product 2020 to pay prep fee? Deposits are set to go out What account? Last used on file There is a fee of $35 ... Avoid fee? will be returned to IRS If Returned how long? 6 Weeks How will I get my stim now? A check by mail. See more

A little inspiration from . Wednesday Wisdom

Many individuals are taking advantage of the historically low home-loan interest rates to buy their first home, sell their existing home to move up to a more expensive one, or refinance their existing mortgage. Some who currently own their homes free and clear are even taking out loans to lock in the low interest rates.

After several months of the Republicans and Democrats bickering, they have finally passed COVID-related tax relief and the President has signed the bill.

Let's get the weekend started. Friday from

A frequent question is whether inherited assets are taxable. Generally, they are not until they are sold, and then only to the extent that the sales price exceeds the fair market value of the asset at the time of the decedent's death. There are exceptions to this rule, such as traditional IRAs and other deferred untaxed income of the decedent.

Get inspired. Some Wednesday Wisdom from based

An individual must have compensation in order to contribute to an IRA, unless the individual is a non-working or low-earning spouse who is allowed to contribute to his or her own IRA based upon the compensation of the working spouse.

Here's some motivation for your Monday from

First, there was the usual April 15th deadline. Then, there was July 15th. If you filed for an extension, your deadline was October 15th - and now that date has come and gone. What happens now if you missed it?

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Operating a SMB is hard work - and it's vital to know the financial health of your business at any time. Whether you're assembling your financial reports yourself or have hired professional help (like us), here are 12 metrics that can help you monitor your success.

To say COVID-19 has made 2020 a disastrous year for just about everyone would be an understatement. However, 2020 has given rise to more than the usual tax-planning opportunities. Thus, you may find it appropriate to schedule a tax-planning appointment well before the close of the year to take advantage of the tax benefits and strategies available for 2020.

Here is some midweek Wednesday Wisdom inspiration from your friends at

Are you an investor in stocks, bonds, mutual funds, etc.? If so, when you sell those securities, you will undoubtedly want to minimize your gains or maximize your losses for tax purposes. To do that, you'll need to know your tax basis in the investment (asset), which makes it important to keep track of the basis in all your investments.

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End of week tax fact from