--- title: Not Your Father's Accountant Blog | IRS description: IRS | Business Insights For The Modern Business Owner from the good folks at Milam, Knecht & Warner. --- ### [![not your fathers accountant blog](https://www.weaddvalue.com/hs-fs/images/not-your-fathers-accountant-blog.jpg)](https://www.weaddvalue.com/blog/) # [California AB-150: Small Business Relief Act](https://www.weaddvalue.com/blog/ab-150/08.09.21) Posted by [Rex Ours](https://www.weaddvalue.com/blog/author/rex-ours) on August 09, 2021 - [Tweet](https://twitter.com/share) [![](https://www.weaddvalue.com/hubfs/CA%20AB-150-jpg.jpeg) ](https://www.weaddvalue.com/blog/ab-150/08.09.21) **On July 16, 2021, **California’s governor signed Assembly Bill 150 (AB 150). Among other things, this bill includes the “Small Business Relief Act”, which allows taxpayers to receive a credit for their share of state and local tax (SALT) deducted from the net income on their federal returns for their qualified business(es). This elective tax payment will be available from January 1, 2021 through January 1, 2026. [Read More](https://www.weaddvalue.com/blog/ab-150/08.09.21) 0 Comments [Click here to read/write comments](https://www.weaddvalue.com/blog/ab-150/08.09.21#comments-listing) Tags: [Accounting](https://www.weaddvalue.com/blog/topic/accounting), [COVID](https://www.weaddvalue.com/blog/topic/covid), [IRS](https://www.weaddvalue.com/blog/topic/irs), [California State Tax](https://www.weaddvalue.com/blog/topic/california-state-tax), [Small business relief act](https://www.weaddvalue.com/blog/topic/small-business-relief-act), [federal tax](https://www.weaddvalue.com/blog/topic/federal-tax), [Income tax](https://www.weaddvalue.com/blog/topic/income-tax) # [Want Information About Child Tax Credit Payments?](https://www.weaddvalue.com/blog/employee-retention-credit-0) Posted by [George Chahinian](https://www.weaddvalue.com/blog/author/george-chahinian) on August 04, 2021 - [Tweet](https://twitter.com/share) [![](https://www.weaddvalue.com/hubfs/image-png-Aug-02-2021-10-09-59-60-PM.png) ](https://www.weaddvalue.com/blog/employee-retention-credit-0) **About the Child Tax Credit (CTC) and advance payments** Taxpayers are allowed a CTC for each qualifying child. The credit was temporarily expanded and made refundable for 2021 by the American Rescue Plan Act (ARPA). It phases out for taxpayers with adjusted gross incomes (AGIs) over certain thresholds. Eligible families will receive up to $300 per month for each child under age 6 and up to $250 per month for each child age 6 and older. [Read More](https://www.weaddvalue.com/blog/employee-retention-credit-0) 0 Comments [Click here to read/write comments](https://www.weaddvalue.com/blog/employee-retention-credit-0#comments-listing) Tags: [Accounting](https://www.weaddvalue.com/blog/topic/accounting), [COVID](https://www.weaddvalue.com/blog/topic/covid), [Child Tax Credit](https://www.weaddvalue.com/blog/topic/child-tax-credit), [CTC](https://www.weaddvalue.com/blog/topic/ctc), [IRS](https://www.weaddvalue.com/blog/topic/irs) [All posts](https://www.weaddvalue.com/blog/all) ## Get The Latest! Sign up for our monthly newsletter for business owners. ## Lower Your Business Taxes Register today for a *Free* **Business Tax Diagnostic **from MKW. Minimize your taxes & free up cash to reinvest in your business.    [![Register Today](https://no-cache.hubspot.com/cta/default/188908/112b3553-5f0f-4ef0-9995-44e6c67ab59d.png)](http://cta-redirect.hubspot.com/cta/redirect/188908/112b3553-5f0f-4ef0-9995-44e6c67ab59d)