6 Ways The American Rescue Plan Can Boost Your Family’s Finances — Part 2

To highlight the ways the ARP can impact your family’s bank account, last week in part one of this series, we outlined three of the legislation’s most important elements. Here in part two, we’ll break down three additional parts of the law that stand to boost your family’s finances. To learn about all the full array of benefits provided by the ARP, meet with us as your Personal Family Lawyer®.

TaxesErica EndykeApril 12, 2021american rescue plan, president biden, tax payers, legislation, unemployment benefits, family wealth planning, direct stimulus payments, student loan, income tax, PPP loan, COBRA Subsidy, wealth planning, 20westlegal

6 Ways The American Rescue Plan Can Boost Your Family’s Finances - Part 1

Signed into law on March 11th, President Biden’s $1.9 trillion American Rescue Plan Act of 2021 (ARP) is the largest direct-to-taxpayer stimulus legislation ever passed, and it came just in time to save millions of Americans whose unemployment benefits were about to expire. In addition to extending unemployment relief, the ARP provides individual taxpayers and small business owners with a number of other vital financial benefits aimed at helping the country rebound from last year’s economic downturn.

Of these benefits, you’ve likely already seen one of the ARP’s leading elements—the $1,400 direct stimulus payments, which went to taxpayers, children, and non child dependents with incomes of less than $75,000 for individuals and $150,000 for joint filers. But beyond the stimulus, the ARP comes with numerous other provisions that can seriously boost your family’s finances for 2021.

TaxesErica EndykeApril 6, 2021american rescue plan, president biden, arp, unemployment benefits, business owners, small business, individual taxpayers, direct stimulus payments, child tax credit, maximum tax credit, dependent care tax credit, income tax credit, taxes 2021, self-employment tax