JG Accounting & Tax LLP

03/16/2021

Didn’t get your first two stimulus checks? Had unemployment income? Just need general help getting your 2020 tax return done? LET US HELP! With our virtual tax prep, you never have to leave your house. Contact us today!

03/09/2021

With a little over a month left to file your tax return, why not let us help you get it knocked out quickly? We're here to help and ready to answer any questions you may have during the process, including items such as stimulus checks, certain portions of unemployment not being taxable, and many others. Let us help you today!

03/03/2021

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03/01/2021

Interesting, right? Repost from Numerous U.S. states made favorable tax changes for the 2020 tax year, meaning some taxpayers may get a bigger refund this filing season.⁠
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Arizona, Arkansas, and Massachusetts are among the states that lowered their tax rates for the 2020 tax year, while Minnesota and North Carolina — among others — stepped up their standard deductions. Meanwhile, some high-income earners in New Jersey may find themselves in a higher income tax bracket this year.⁠
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Read more at the link in bio.⁠
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#2020

02/10/2021

Repost! But don’t forget, gambling winnings are technically income and need to be reported on your tax returns! 😬 Here's where legal sports betting is legal in the U.S. of February 3, 2021.⁠
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02/10/2021

It's a great day to think about getting your taxes done! The IRS opens e-filing on Friday 2/12. Connect with us to get started!

02/09/2021

Repost! Filing season starts this Friday! announced that the 2021 will start on Friday, Feb. 12, when the agency will begin accepting and processing 2020 returns. This start date allows time to do additional systems programming and testing following the Dec. 27 tax law changes that provided a second round of Economic Impact Payments and other benefits. If were opened without the correct programming in place, there could be a delay in issuing refunds.

However, you don’t need to wait: People can begin filing their immediately with tax software companies, including partners. These groups are starting to accept returns now, and the returns will be transmitted to the IRS starting Feb. 12.

02/09/2021

If you had any transactions with cryptocurrency, be sure to report them on your tax returns!

02/08/2021

News to know in this express version of the JofA podcast: Reminders for online shopping, employee retention credit changes, and more.

02/05/2021

Important update for Teachers! can now deduct from out-of-pocket expenses for protective items to stop the spread of in the classroom. This includes:

➡️face masks

➡️disinfectant

➡️hand soap

➡️hand sanitizer

➡️disposable gloves

➡️barriers (like clear plexiglass)

➡️air purifiers

➡️tape, paint or chalk to guide social distancing

The educator expense deduction rules let eligible K-12 educators deduct up to $250 of qualifying expenses per year. Visit the link in our bio and search the term “newsroom.”

02/05/2021

02/04/2021

Repost! The GOP’s scaled-down $618 billion stimulus plan includes another round of stimulus payments, but the amount and the income thresholds are lower than what President Joe Biden proposed in his $1.9 trillion stimulus package.⁠
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Under Biden’s plan, more people would get a stimulus check and the average payment would be higher than the GOP’s plan provides. Almost 95% of tax filers would receive a check under Biden’s plan, with an average payment of $2,273. On the other hand, around 74% of taxpayers would get a payment under the GOP proposal, averaging $982, according to estimates by the Tax Foundation.⁠
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Read more at the link in bio.⁠
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