Last week, the American Rescue Plan was passed by Congress and signed into law by President Biden. Among the bill’s approximately 5,000 pages, which provide funding to a myriad of projects, a portion provides COVID-19 relief to many individuals and businesses.
The bill is multi-faceted, with different elements dedicated to small businesses, schools, healthcare providers, agricultural suppliers and more. Additionally, the bill includes numerous tax provisions that you should be aware of this tax season, including:
- Unemployment benefits
- Recovery rebates
- COBRA continuation coverage
- Child tax credit
- Earned income tax credit
- Child and dependent care credit
- Family and sick leave credits
- Employee retention credit
- Premium tax credit
- Student loans
For a full list and analysis of the tax provisions included in the American Rescue Plan, we recommend you check out this helpful article from the Journal of Accountancy: “American Rescue Plan Act passes with many tax components.”
We know about many businesses that are for sale but might not be advertised. Check out www.megabite-rb.com for more information and consider registering your criteria as a purchaser.
For information, reference Dallas-area Brewpub on Autopilot for Sale 19850 and contact Jeff Adam, PE, MCBC, FRC, CBB at Megabite Restaurant Brokers, LLC
Phone: (817) 467-2161
www.megabite-rb.com
Thinking of selling: Contact us TODAY to Sell your Business