Get MORE Money back!! | Filing taxes in 2021| Tax Changes and Coronavirus Affect on Taxes

Let’s maximize your 2020 tax refund because.. why not?? Whether you are filing taxes for the first time or you are a vet in the tax game this video will benefit you! In this video let's talk about your taxes and how the coronavirus may benefit or hurt you when it comes to filing. We will also talk about capital gains specifically with stock and how you can pay no money on your gains from your stocks! There are certain income requirements and you have the hold the stock for at least a year but if you can handle those two things then you should be well on your way to a tax free gain! So with all the extra cash we were getting from the government you may have thought.. is unemployment free money? Unfortunately the answer is NO! You must pay taxes on unemployment and it is important to file early so you can see and prepare in the event that you will owe taxes on your unemployment money. If you have received unemployment money and it was not taxed then you will want to see how much you owe. Even if the unemployment funds were taxed there is potential for it being undertaxed so it never hurts to file as early as you can so you can see if you will owe. The charitable donations tax deduction has also changed (for better, not worse!) We can now claim charitable donations WITHOUT having to itemize you deductions. Keep in mind it is only up to $300 in CASH donations. Small, but better than nothing! What if you unfortunately came down with covid but and was not able to work or your kids school was closed down, forcing you to stay home and care for them? Well with the new sick pay laws due to coronavirus you may be eligible for some money!! I discuss the new sick pay laws and how you can get up to $15,000 due to the time off you had to take caring for yourself or your family. This credit is for my self employed people so for those filing your taxes for small businesses this may be for you. Tax Brackets 2020 https://taxfoundation.org/2021-tax-brackets/#brackets Capital Gains Tax Brackets https://www.nerdwallet.com/article/taxes/capital-gains-tax-rates Sick Pay Coronavirus Tax Laws https://www.irs.gov/coronavirus/new-employer-tax-credits Instagram: @thecashcompass Business e-mail: thecashcompass@gmail.com For donations: PO Box 814954 Hollywood, FL 33081 Cashapp: $KrystalTodd Venmo: @KrystalTodd My Youtube Set up: www.amazon.com/shop/thecashcompass *Please be sure to do your own due diligence before making ANY financial decisions. On my channel I share with you my research but please verify everything for yourself! I do not give investment advice, just share my thoughts any my choices!* *Some of the links on this page are affiliate links, meaning, I may earn a commission if you click through and make a purchase, at absolutely no cost to you. Affiliate commissions help keep my channel going so thanks for your support!*