Jules Financial Enterprise

01/12/2022

Tax Update:

The filing deadline to submit 2021 tax returns or an extension to file and pay tax owed is Monday, April 18, 2022, for most taxpayers.

01/11/2022

Tax Update:

The Internal Revenue Service announced that the nation's tax season will start on Monday January 24, 2022.

01/08/2022

Tax Updates:

The IRS will send letter 6475 that contains the total amount of the third economic impact payment and any plus-up payments. Please keep this with any other IRS letters about stimulus payments with other tax records.

01/08/2022

Advance child tax credit payments update:

Families who received advance payments will need to compare the advance child tax credit payments that they received in 2021 with the amount of the child tax credit that they can properly claim on their 2021 tax return.

While preparing your own tax return may sound like a good way to save money, it often ends up costing you in the long run. An amateur tax preparer can miss valuable credits and money-saving deductions that could reduce your annual tax bill or provide a significant return. While tax software offers s...

01/06/2022

Happy New Year!

The IRS encourages taxpayers to get informed about topics related to filing their federal tax returns in 2022. These topics include special steps related to charitable contributions, economic impact payments and advance child tax credit payments.

At Jules Financial Enterprise, we keep up with changes in the tax laws and are always looking for new ways to help our clients optimize their tax returns.

Taxpayers can visit http://jjulesenterprise.com/contact-us/ for questions and concerns related to helpful resources for the filing season.

01/23/2021

As Americans deal with the COVID-19 pandemic and the year closes to an end, it's a good idea to start taking a look at the 2020 tax year filing season, including the impact of existing and recent legislation on how you will file in 2021.

KEY TAKEAWAYS
Recently passed coronavirus legislation has added to tax law changes already set to take place for the 2020 tax year
Although stimulus payments are tied to your 2020 taxes, built-in safeguards minimize the impact on your taxes
The standard deduction for those married filing jointly rose to $24,800 for the tax year 2020, up $400 from 2019

Powerball winner in Maryland should remember this before cashing the $730 million ticket: expert January 21, 2021 admin Finance 0Read more

01/21/2021

The Financial Takeaway

Most financial experts agree taking a 401(k) loan should be a last resort. Employees of a certain age, who are beyond the penalty-incurring years, might find that taking a distribution might actually work better for them.

Still, borrowing from your 401(k) plan can be an option if you need funds quickly. It’s certainly a better course than an outright withdrawal, especially if you’re under 59½, which incurs penalties as well as taxes.

Before you jump to borrow from your 401(k), it’s important to consider the pros and cons. Understanding how 401(k) loans work, the consequences of leaving your employer or losing your job before repayment and the opportunity risks involved in tapping your retirement savings early are all key considerations.

Summary List PlacementAny financial expert will tell you it’s best to keep your retirement savings tucked away until, well, retirement. That certainly holds true for one of the most common wa…

11/09/2020

Your future is now. Let us help you start building your financial future.

11/09/2020

Let's plan together.

11/08/2020

It's never too early or too late to invest in yourself and others.