Jin&Jing Tax

05/21/2021

Roth IRA backdoor

05/03/2021

《餐馆振兴补助金计划》（RRF）即将开放申请（5月3日中午）请因为Covid-19 导致营业额减少、关门、乃至申请破产的餐饮业主联系我们申请补助。需要提供EIN，SSN，2019&2020 税表（如果2020已经报税），财务报表（没有的，我们可以帮忙制作）。更多细节需要个案评估。已经拿到PPP贷款的业主能够获得的金额需要减去PPP贷款数额。

2021年新开业的业主，只要3/11/2021之前产生开业筹备费用，也可以参与申请，只要申请到的资金在3/11/2023之前按照要求花完. 可以联系我们微信jinandjingtax

04/23/2021

In what circumstances you need CPA to prepare your tax return or at least have a talk : 1) you have a business no matter as Schedule C or E, LLC or S Corp . 2) you move out of state which means you need to file with two states and need to allocate the income between states 3) you work remotely officially or need to commute to another state for the same or other employer 4) you gambling

04/14/2021

For business 100% for restaurant-provided meals in 2021-2022 deductible vs 50% previous. The longstanding rules for substantiating meal expenses still apply. Keep receipts

04/02/2021

Our experienced CPA provides tax forms review. Now more and more people choose to prepare their own tax return filing. That is a good choice if the case is sample. Even us When clients come to us, if they only have W2, we will suggest them to do it their own to save some money.

But as a professional CPA, we encourage to have someone to review the tax forms for you or you may missing some credit or deduction you deserve.

We provide the review service too. You will only charged 50$ if we found something.

If you interested , please contact us.

Email to : [email protected]

Visit: jinandjingtax.com

Call us: 224-813-4241

Tax Preparation Service in buffalo grove, Get you every credit and deduction you deserve

03/21/2021

1. As we all know, one of FSA account feature is "Spend it or Lose it".
Got a balance on your FSA account? Supposed to forfeit the balance?
Nope. Due to COVID-19, you might get some extension or relief instead
of losing it.

2. Withdrawal from 401K or IRA account before reach 59.5 years old, you
might face early withdrawal penalty and tax.
Yet, if the early withdrawal is due to COVID-19 you and or your spouse
lose income or hours, you could get relief of penalties.

3.You might have opportunities to claim Student Loan Interest deduction
on your state tax return if you file with Arkasas, Massachusetts, Maine,
Maryland and Minnesota. Some state offer unlimited undergraduate degree
\student loan interest deduction such as MA even you might only qualify
file non-resident tax return.

03/19/2021

Tax Law Changes You Need to Know Before Filing a Return in 2021

1.Standard Deduction Increased, by $200 for single or married taxpayers filing separately, $300 for heads of household, and $400 for married couples filing jointly.

2. Bigger Deductions for Charitable Contributions
standard deduction for 2020, deduct up to $300 in qualified charitable donations. itemize deductions, can deduct up to 100% of your remaining adjusted gross income based on how much you contributed to charities.

03/18/2021

Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline.

03/18/2021

Getting you every credit and deduction you deserve is our goal.
Experienced CPA, providing tax preparation service.