9/14/2023 0 Comments Turbotax self employed 2021![]() Here’s what you should know about the qualified sick and qualified family leave credits, how much you can get, and how they’re calculated. TurboTax will also be up to date and show you the credits you may be eligible for when it’s time to file your taxes. We have you covered with a NEW Tax Credit Estimator tool to help you easily estimate how much credit you may be eligible for and also explains how the credit is calculated under the FFCRA. Don’t worry about trying to remember all the details of the new tax credits. The qualified sick leave and family leave tax credits are being provided to eligible self-employed individuals who are not able to receive paid sick leave or family leave from an employer like employees do. On March 18, the Families First Coronavirus Response Act (FFCRA) was passed which includes relief for self-employed and small businesses in the form of refundable sick leave and family leave tax credits. ![]() ![]() But did you know that there are some new refundable tax credits available if you are self-employed and were impacted by coronavirus? We know times have been rough and you may have already heard about various coronavirus relief options like stimulus payments, expanded unemployment, and extended tax deadlines. Whether you are an individual taxpayer, or you own your own business, COVID-19 has affected most people in one way or another. What Are the New COVID-19 Self-Employed Tax Credits and How Do I Qualify? ![]() For information on the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, the second stimulus relief package currently pending legislation, please visit the “ New Coronavirus Relief Package: What Does it Mean for You and a Second Stimulus Check” blog post. This content relates to the Families First Coronavirus Response Act (FFCRA) signed into law in March 2020. ![]()
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