Yup, it is official: Tax Season is extended from April 15, 2021 to May 17, 2021.
Roger's Financial Corner
Friday, March 26, 2021
Thursday, December 31, 2020
We end 2020 not with a bang, but a whisper . . .
About time! I am happy that 2020 is almost history and I cannot wait to see what 2021 brings. We do have the passing of a small stimulus package and details will be coming forthwith, but for now, all attention is on 2021 and the 2020 Tax Season. It looks to be another challenging year, due to Covid-19, but we've been through this and I am sure we will get through it in 2021.
Happy New Year! We wish you the best in 2021 and we look forward to being able to assist you again, 34 years now, for us, at Jedi.Tax.
We open on January 12, 2021 . . .
WWW.JEDI.TAX
Tuesday, July 21, 2020
From USA Today: Another Stimulus Bill
Negotiations in full swing on next coronavirus stimulus bill 💰 |
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Treasury Secretary Steven Mnuchin will meet with
Republicans and top Democrats on Tuesday in hopes of quickly passing
another coronavirus stimulus bill . Mnuchin is planning to
brief Senate Republicans on the president's priorities in the next bill,
including another stimulus check for Americans and a payroll tax cut — a
measure long sought by President Donald Trump. Mnuchin also will meet with
Democratic leaders to discuss their priorities in the bill, including the
need to extend the $600 weekly boost to unemployment benefits that are
readying to expire at the end of the month.
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Monday, July 20, 2020
Saturday, July 04, 2020
Jedi.Tax Radio debuts on July 5, 2020!
Jedi.Tax Radio debuts on July 5, 2020, 8 PM PDT! Check us out here: http://tobtr.com/s/11756970 or call-in and listen live: 914-338-0314
Thursday, June 25, 2020
2020 Charitable Contributions
For the 2020 Tax Year, a change in the law will allow for tax payers to deduct charitable contributions without having to use Schedule A! This means that for those that haven't being able to claim charitable contributions before, there is an opportunity to claim a deduction for this year. As always, contact your financial consult for conditions unique to your case.
Jedi.Tax
Jedi.Tax Twitter Link
Jedi.Tax on Facebook
Interested in becoming a Tax Preparer? Want to learn from a firm that has over 55 years of cumulative experience? Send us an email here: Contact Us at Jedi.Tax
Our new Tax Program will debut on July 5, 2020 at 8 PM PDT/11 PM EDT here and will be a monthly, live radio program. Have questions, need assistance? Contact us at Jedi.Tax
Jedi.Tax
Jedi.Tax Twitter Link
Jedi.Tax on Facebook
Interested in becoming a Tax Preparer? Want to learn from a firm that has over 55 years of cumulative experience? Send us an email here: Contact Us at Jedi.Tax
Our new Tax Program will debut on July 5, 2020 at 8 PM PDT/11 PM EDT here and will be a monthly, live radio program. Have questions, need assistance? Contact us at Jedi.Tax
Saturday, September 14, 2019
Passed my examinations!
As you know, I have to re-test every year for California Tax Preparer licensing and I will post the certificates later, but here are the results:
2019 Federal 90%
2019 California 84%
2019 Federal Updates 87%
2019 Ethics 90%
Ready for January 1, 2020, for the 2019 Tax Season!
2019 Federal 90%
2019 California 84%
2019 Federal Updates 87%
2019 Ethics 90%
Ready for January 1, 2020, for the 2019 Tax Season!
Friday, March 01, 2019
Retirees: Worried about the IRS auditing you?
Worried about the IRS auditing you? It’s rare, but it does happen.
Of the tax returns filed in calendar year 2016 — and examined in fiscal year 2017 — the IRS audited nearly 1.1 million, or 0.5 percent of the total.
That low percentage might have you feeling relatively confident about the odds that Uncle Sam will come calling.
Wednesday, February 27, 2019
IRS TAX TIP 2019-15
Here’s
how tax reform affects taxpayers who claim the child tax credit
Many people claim the child tax credit to help offset the cost of raising children. Tax reform legislation made changes to that credit for 2018 and later. Here are some important things for taxpayers to know.
Credit amount. The new law increases the child tax credit from $1,000 to $2,000. Eligibility factors for the credit have not changed. As in past years, a taxpayer can claim the credit if all of these apply:
- the child was younger than 17 at the end of the tax year
- the taxpayer claims the child as a dependent
- the child lives with the taxpayer for at least six months of the year
Credit refunds. The credit is refundable, now up to $1,400. If a taxpayer doesn’t owe any tax before claiming the credit, they will receive up to $1,400 as part of their tax refund.
Earned income threshold. The income threshold to claim the credit has been lowered to $2,500 per family. This means a family must earn a minimum of $2,500 to claim the credit.
Phaseout. The income threshold at which the child tax credit begins to phase out is increased to $200,000, or $400,000 if married filing jointly. This means that more families with children younger than 17 qualify for the larger credit.
New credit for other dependents. Dependents who can’t be claimed for the child tax credit may still qualify for the new credit for other dependents. This is a non-refundable credit of up to $500 per qualifying person. These dependents may also be dependent children who are age 17 or older at the end of the tax year. It also includes parents or other qualifying relatives supported by the taxpayer.
More information:
Tax Reform Basics for Individuals and Families Tax Reform Small Business Initiative
Share this tip on social media -- #IRSTaxTip: Here’s how tax reform affects taxpayers who claim the child tax credit. https://go.usa.gov/xEmQf
Friday, February 01, 2019
FACETIME/DUO Appointments!
Forgetting the security issue right now, which is targeted to the Facetime group calling, we are now in our third year of offering tax appointments via Facetime or Duo. When you schedule your appointment, choose Facetime/Duo appointment and instructions will be sent to you via the confirmation email.
Friday, January 25, 2019
Tax Season is here!
Officially, the IRS and FTB will begin accepting tax returns on January 28, 2019, but you can still file early and many are! As of this evening, I have already filed eight returns. For me, January is the month the just is a taste of what is to come and if I follow these indicators, I am expecting a big season!
www.jedi.tax
Sunday, January 21, 2018
2018 Tax Season Begins . . .
With the commencement of the new tax season, which, as you know, we always refer to the tax year and in this, while we are in 2018, we are preparing income tax filings for the 2017 Tax Year.
Most of the changes that you have been hearing about are taking effect this year, such as new tax rates and the loss of personal exemptions. This will not affect your upcoming filing, it will affect you as we move forward.
Over the next weeks and months, we will be posting important updates that you will need to know and of course, if you have questions, visit us, call us or contact us via twitter.
our updated website is: www.jedi.tax
Check out the site and let us know what you think.
Most of the changes that you have been hearing about are taking effect this year, such as new tax rates and the loss of personal exemptions. This will not affect your upcoming filing, it will affect you as we move forward.
Over the next weeks and months, we will be posting important updates that you will need to know and of course, if you have questions, visit us, call us or contact us via twitter.
our updated website is: www.jedi.tax
Check out the site and let us know what you think.
Saturday, May 14, 2016
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