Tom Wheelwright, CPA and CEO of WealthAbility®, held a live virtual town hall event to discuss the opportunities available in the American Rescue Plan and answer viewer questions regarding the stimulus bill, new tax filing deadline and more.
The American Rescue Plan is one of the biggest government handouts in modern history, Wheelwright explained, and it is important for people to understand the benefits available to them as well as how those opportunities fit into their overall tax and wealth-building strategies.
During the town hall, Wheelwright discussed:
- How the tax law is a series of incentives that the government has created to encourage people to take specific actions, such as owning a home or installing solar panels,
- What changes we may see to those incentives under the President Biden administration,
- The new round of direct payments to individuals and families,
- How unemployment is being handled from a tax standpoint,
- What to watch for as policymakers grapple with student loan forgiveness,
- Updates on PPP loans,
- And much more.