Jones Accounting, LLC

Jones Accounting, LLC Specializing in bookkeeping and accounting for all of your personal or business needs! Let me help y

-Bookkeeping
-Accounting
-Financial Reporting
-Start-Up Needs
-Project Accounting
-Payroll Services
-Tax Filings (Business or Personal)
-More..

01/18/2022

Alright ladies and gentlemen, tax season is upon us but there are a few things you should know. The IRS will begin accepting tax returns January 24th. Refunds are expected within 21 days of e-filing with the exception of taxpayers who have children and are subject to receive the Child Tax Credit (CTC) and/or Earned Income Credit (EIC). Those taxpayers will not receive refunds until after mid February. In addition, those who qualify for the CTC will receive letters from the IRS (6419) which will identify the amount of the advanced CTC payments received in 2021. If you have qualifying children, you MUST submit a copy of this letter with your tax prep documents to your tax preparer (even if you optes out and didn't receive payments). Should you choose to file on your own, be SURE to include the information from this letter on your tax return to recieve the rest of your refund and/or avoid penalties and interest later on for entering the incorrect amount. As always, if you have any specific questions, I am happy to help.

01/04/2021

Now that the unpredictable year of 2020 is over, it is time to start thinking about how to prepare for your taxes. This upcoming tax season will be one to remember with so many new things to consider! Whether you choose to file your taxes on your own or decide to use a tax professional, 2020 has created some abnormal tax situations for most of us. Along with the traditionally required tax documents (W-2's, 1099's, 1098's, and other itemized expenses, etc.) here are some things that may also be required to prepare your taxes for 2020 that may be out of the "norm" for you and/or your family:

-If you received any type of assistance from unemployment, be sure to wait for your 1099-G tax statement. This income is still considered taxable income and must be included on your return.

-The first round of Economic Stimulus checks was issued as tax credit which will need to be recognized on your tax return. Be sure to have proof of the exact amount of the stimulus payment you received and supply that information to your tax professional.

-If you are a business and you received a PPP loan or SBA EIDL loan at any point in time during 2020, be sure to let your tax professional know as it may need to be included in your tax return (depending on your situation).

-Even though the tax deadline for 2019 was extended, don't anticipate the tax deadline for 2020 to be extended also. There is no way to determine the outcome of tax deadlines this early on during the tax season. Be prepared to file your tax return on schedule with a traditional April 15th deadline! Also, be sure to provide your tax professional with your documentation in enough time for him/her to complete your return before the deadline.

Filing your taxes can be intimidating if you are unsure of current tax laws and documentation. If you find yourself overwhelmed, reach out to a tax professional to help ensure the accuracy of your return. As always, I am here to help. If I can be of any assistance please feel free to reach out! Happy Tax Seaon Everyone! 😊

Address

Kiln, MS
39556

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

+12283422871

Website

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