taxcredit

January 17, 2024

COVID-19 Tax Credit for 1099 & Self-Employed Business Owners

Calling all independent contractors and self-employed business owners! The Families First Coronavirus Response Act (FFCRA) was passed by Congress in April 2020 to provide financial support for self-employed individuals (sole proprietors, 1099 contractors, freelance workers, etc.). If you couldn’t work (including teleworking) due to certain COVID-19-related reasons, the FFCRA gives you a special credit to… Continue reading COVID-19 Tax Credit for 1099 & Self-Employed Business Owners

ERC Substantiation: What is it, and what is required?

By Ashlee Hall, Esq., Director of Legal Services for Figure Financial, Inc. Substantiation noun evidence sufficient to establish a thing as true, valid, or real; proof. Black’s Law Dictionary defines “substantiation” as “support of a claim or assentation by objective data or other proof of evidence.” In other words, substantiation equals documentation. In short, PROOF. In… Continue reading ERC Substantiation: What is it, and what is required?