S & J Tax Services

🚨🚨IT IS MANDATORY TO WAIT TO COMPLETE YOUR TAX FILE! 🚨🚨

Until you have ALL of your documents to get your taxes done please be patient and wait. Reach out to your tax pro for the documents you need to gather but please wait. We at Simply Taxes & Investments don’t want your return delayed for any reason (other than the mandatory delay)

PLEASE add ALL w2s, any healthcare forms, any income documents!! Please don’t do this to your tax preparer and yourself💯

This is CRITICAL‼️

Anyone still waiting on last years tax refund, please understand this:

📍The IRS is behind in MILLIONS of tax returns, not hundreds, not thousands but MILLIONS of returns.
📍It’s like winning the lottery to get a REAL AGENT on the phone. Not a call center rep reading off a script.
📍You can’t even get a tax advocate 🥺 they aren’t accepting taxpayers with delayed refunds due to the IRS backlog
📍Your tax preparer does NOT get paid until you do, so NO we didn’t “get paid and not helping you get yours

Its super sad.
It sucks.
It’s real f*d up.
It should really be illegal.

But don’t take your anger out on your preparer because, at this point our hands are TIED. Hell, we want you to get your refund just as bad if not more than you would like it. Many of us missed out on thousands in revenue due to this backlog.

Put the blame on who’s fault it is THE IRS.

& yes you can file 2021 with 2020 still being in process. Each year stands alone and one doesn’t have to do with the other.

Hey!!! Have yall heard about S & J Tax Services? We are a virtual tax company and can process your tax return from anywhere in the US you don't have to leave your couch with the APP.

Not to mention a cash advance up to $9,500, who wouldn't want that. Want more information? Ask us today

Business owners and Investors! Are you Tired of asking your CPA or Tax Preparer for tax-saving ideas? Here are a few basic things you can put in place to cut down your tax liability. This is the secret to staying wealthy or acquiring wealth.

Tax Saving Moves to Make In 2022‼️

✅Prepay expenses like rent, insurance, and supplies
✅Buy equipment you might have been planning to purchase in the 1st quarter
✅Make purchases on credit cards to get expenses and protect cash flow
✅Don't worry about taking "too many" deductions
✅Accelerate depreciation on qualified improvements (non-residential)
✅Segregate assets in residential rentals and accelerate depreciation
✅Consider a vehicle > 6,000 GVW if purchasing a new or used business vehicle
✅Don't miss out on Sick & Family Leave Tax Credits
✅Fund your HSA before December 31st
✅Take advantage of the business paying health insurance premiums
✅S-corporation owners deduct health premiums on W-2 -> 1040
✅Claim the health insurance tax credit
✅Hire your kids!
✅Gift appreciated assets to parents to take advantage of 0% capital gains
✅Switch your personal vehicle to business use
✅Harvest capital losses to reduce taxable income or offset capital gains
✅Make strategic use of charitable contributions or donor-advised funds
✅Transfer appreciated assets to donor-advised funds to eliminate cap gains
✅Avoid donating assets that would create a tax loss
✅Buy business assets or a business with significant depreciable assets
✅Establish or contribute to a retirement plan
✅Take advantage of the Retirement Plan Startup Credit
✅Take advantage of the Automatic Retirement Account Enrollment Credit
✅Consider a Roth conversion
✅Avoid wash-sale rules in marketable securities
✅Consider whether a wash-sale in cryptocurrencies would be advantageous
✅Evaluate energy investment incentives
✅If you have significant capital loss carryovers, evaluate a portfolio rebalance
✅Deduct 100% of client, prospect, and employee business meals

Business Minded ✔

Why do I need Form UC-1099G/UC-PUA-1099G for 2021?
These forms reflect what you were paid in unemployment benefits; what you repaid in unemployment benefits (in the case of an overpayment); and any taxes that were withheld. Unemployment income is considered a wage, so it is taxable. UC-1099G information is needed by anyone who in 2021:
was paid unemployment benefits—this is reflected in box 2,
repaid all or part of an outstanding overpayment—reflected in box 3, or
had unemployment benefits offset to repay an overpayment, or
had income tax refunds intercepted to repay an unemployment overpayment,

COVID Tax Tip 2022-08
Here are reasons people who don’t normally file should file a 2021 tax return

With tax filing season is just around the corner, this is a good time for those who don’t normally file to consider the benefits of filing a 2021 tax return. Filing can help them claim a refundable tax credit or get an income tax refund.

Here are some things taxpayers should consider when deciding whether to file a tax return:

Find out the general reasons to file

In most cases, income, filing status and age determine if a taxpayer must file a tax return. Other rules may apply if the taxpayer is self-employed or can be claimed as a dependent of someone else. There are other reasons when a taxpayer must file. The Interactive Tax Assistant can help someone determine if they the need to file a return.

Look at tax withheld or paid

Here are a few questions for taxpayers to ask themselves:

Did the taxpayer's employer withhold federal income tax from their pay?
Did the taxpayer make estimated tax payments during the tax year?
Did they overpay last year on their taxes and have it applied to their 2021 tax?
If the answer is yes to any of these questions, they could be due a refund. They must file a 2021 tax return to get their money.

Look into whether they can claim the earned income tax credit

A working taxpayer who earned $57,414 or less last year could receive the EITC as a tax refund. For the 2021 tax year, the tax return taxpayers file in 2022, the earned income credit ranges from $1,502 to $6,728 depending on their filing status and how many children they claim on their tax return. The law allows taxpayers to use either their 2020 income or 2021 income to calculate their EITC — taxpayers may choose whichever amount gives them a larger credit. They can check eligibility by using the EITC Assistant on IRS.gov. Taxpayers need to file a tax return to claim the EITC. By law, the IRS cannot issue refunds to taxpayers claiming EITC until mid-February.

Child tax credit or credit for other dependents
Taxpayers can claim the child tax credit if they have a qualifying child under the age of 17 and meet other qualifications. Other taxpayers may be eligible for the credit for other dependents. This includes people who have:

Dependent children who are age 17 or older at the end of 2020
Parents or other qualifying individuals they support
The Child-Related Tax Benefits page of IRS.gov can help people determine if they qualify for these two credits.

Education credits
There are two higher education credits that reduce the amount of tax someone owes on their tax return. One is the American opportunity tax credit and the other is the lifetime learning credit. The taxpayer, their spouse or their dependent must have been a student enrolled at least half time for one academic period to qualify. The taxpayer may qualify for one of these credits even if they don't owe any taxes. Form 8863, Education Credits is used to claim the credit when filing the tax return.

Recovery rebate credit
Individuals who didn't qualify for a third Economic Impact Payment or got less than the full amount, may be eligible to claim the 2021 recovery rebate credit based on their 2021 tax year information. If they're eligible, they'll need to file a 2021 tax return even if they don't usually file a tax return. The credit will reduce any tax owed for 2021 or be included in the tax refund.

Share this tip on social media -- :Here are reasons people who don’t normally file should file a 2021 tax return. https://go.usa.gov/xt22y

Internal Revenue Service | An official website of the United States government Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.

Never miss a tax write-off. Keeper Tax makes it easy for freelancers, independent contractors, and business owners to track expenses and find tax savings everyday. Our users find $1,249 in tax savings on average. 💰

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📢📢 PLEASE DO THIS AND THANK ME LATER 💯💪🏾

Please create an account on ID.me. You can get into your irs.gov account using ID.me. You will need a valid ID, cell phone number, and it will do a face recognition. This can help you get access to:

* View your tax transcripts instantly
* View and manage notices from the IRS
* Confirm your EIP payment amounts
* Confirm your advance child tax credit amount
* View your pin electronically
* AND More!!!

To avoid processing delays with your refund, I advise everyone to create an account asap‼️

https://sa.www4.irs.gov/secureaccess/ui/?TYPE=33554433&REALMOID=06-0006b18e-628e-1187-a229-7c2b0ad00000&GUID=&SMAUTHREASON=0&METHOD=GET&SMAGENTNAME=-SM-u0ktItgVFneUJDzkQ7tjvLYXyclDooCJJ7%2bjXGjg3YC5id2x9riHE98hoVgd1BBv&TARGET=-SM-http%3a%2f%2fsa%2ewww4%2eirs%2egov%2fola%2f

Internal Revenue Service | An official website of the United States government Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.

IT’S TAX SEASON! 💰💰
LETS HELP YOU GET STARTED ON YOUR TAXES TODAY!
ALL YOU NEED👇🏽👇🏽
Our Tax Preparation Checklist
• Government Issued License/State ID
• Social Security Cards of FILER and ALL DEPENDENTS
• Copy of Last Year's Tax Return
• W-2's from ALL Employers
• Form 6419- Child Tax Credit Payments
• Form 6475- Stimulus Payments
• Residency (Address)
CALL US TODAY OR VISIT OUR WEBSITE!
We GUARANTEE a MAXIMUM refund!

Hey guys

✅ The IRS will start ACCEPTING returns January 24th…

Please contact us so we can assist you with Filling your Taxes

🚨🚨Tax 📰 you can use🚨🚨

Zelle, CashApp and PayPal users... let’s put the 💯 info out there for you’

🔑If you are sending money to friends and family, you will NOT have to worry about the new IRS reporting requirements. It only applies to business transactions.

🔑The IRS has lowered the minimum 1099K reporting requirements from $20,000 and 200 transactions to any total transactions greater than $600. So, this is not a new rule. But again, it doesn't apply to transactions involving sending money to friends and family.

🚩It CAN, however, apply to selling personal items where a gain is involved. For example, if you bought something, and sold it for more than what you bought it for, the difference is considered a gain. You are supposed to report the gain as income. If you sell it for less than what you bought it for, it is a loss, and doesn't need to be reported.

🔑More than likely, these companies will begin having people verify that their accounts are for either personal or commercial use. And they will enforce personal accounts for large numbers of transactions, or amounts that look like commercial transactions.

I hope this clears it up for you and if you have any questions please reach out to us

📱832-835-2700
S & J Tax Services