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Bassman, Adelman & Weiss, PC is a CPA firm offering a wide range of accounting and financial services to a broad base of small to medium size businesses and individuals. We take a proactive approach in working with our clients to identify and attain their financial goals. Through implementation of appropriate tax and financial planning we maximize our clients' wealth retention.


Advance Child Tax Credit Payments

The IRS on Monday, June 7th, announced it has started sending letters to more than 36 million American families who may be eligible for the expanded child tax credit and monthly payments set to begin in July. The maximum enhanced credit is $3,600 for children younger than age 6 and $3,000 for those between 6 and 17 for 2021.

Visit IRS to learn more: https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

IRS mailing millions of letters about Child Tax Credits, visit: https://www.accountingtoday.com/news/irs-mailing-millions-of-letters-about-child-tax-credits

The IRS is sending letters to more than 36 million families who may be eligible for the new monthly child tax credit, visit: https://www.cnbc.com/2021/06/07/child-tax-credit-irs-sending-letters-to-36-million-eligible-families.html


dollar signCOVID-19 Key Financial Provisions

Payroll Protection Program Forgivable Loans
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act, H.R. 748, the Act) provides for 100% US insured loans to small business (under 500 employees). Learn more

Expanded Unemployment Insurance
The Federal CARES Act, has significantly expanded Unemployment eligibility and benefits. Learn more.

Stimulus Payments
Information about the Coronavirus Tax Relief and stimulus payment checks are available on the IRS web site. Also, learn more.

Retirement Distribution Rules
There are three provisions in the CARES act that directly affect your Individual Retirement Account (IRA). Learn more.

Paid Sick Leave / Family and Medical Leave Act
The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19.

Small businesses with fewer than 50 employees may qualify for exemption from the requirement to provide leave due to school closings or child care unavailability if the leave requirements would jeopardize the viability of the business as a going concern. Learn more.

EIDL (Economic Disaster Injury Loans)
The SBA is offering unsecured loans up to $25,000 with this program. Due to the coronavirus pandemic, they are offering a loan advance of $10,000, which essentially is a grant as it is not required to be paid back. Learn more.

COVID-19 Working Capital Access (CWCA) Program
The CWCA Program is administered by the Pennsylvania Industrial Development Authority (PIDA) and provides critical working capital financing to small businesses. Learn more


QuickBooks

Many of our clients are QuickBooks™ users. Our staff is trained in the use of QuickBooks™ setup and implementation and is available to help you with all your QuickBooks™ needs.


Please give us a call if we can be of service with any of your business or individual accounting and financial needs.

Bassman, Adelman & Weiss, PC
630 Sentry Parkway East, Suite 200
Blue Bell, PA 19422
voice: 215-628-0420
fax: 215-628-3461
email: Bassman, Adelman & Weiss
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