American Rescue Plan Act of 2021

American Rescue Plan Act of 2021 President Biden signed the American Rescue Plan Act of 2021 (ARPA) into law on Thursday afternoon. This $1.9 trillion stimulus package contains extensions to unemployment, direct stimulus payments, provisions for small businesses, state and local aid, as well as funding for K-12 schools. Employee Retention Credit (ERC) Last year,…

Wessel & Company Named to PA Business Central’s Top 100 Organizations

Wessel & Company Named to PA Business Central’s Top 100 Organizations Wessel & Company has been named to Pennsylvania Business Central’s Top 100 Organizations for 2021. The list was created from Pennsylvania Business Central’s 23-county coverage area and Wessel & Company was selected for their contributions, achievements, and leadership throughout the community. “Wessel & Company…

Renting Out a Second Home

Renting Out a Second Home In general, income from rental of a vacation home for 15 days or longer must be reported on your tax return on Schedule E, Supplemental Income and Loss. You should also keep in mind that the definition of a “vacation home” is not limited to a house. Apartments, condominiums, mobile homes,…