Your Money Matters
Your Money Matters
IRS Tax Season 2021 Officially Kicks Off On February 12th.
IRS Tax Season 2021 Officially Kicks Off On February 12th.
For those of you ready to file your tax returns, not so fast!
The IRS announced they will begin accepting and processing 2020 tax returns on Feb. 12th, giving the agency time to do additional programming and testing of its systems to ensure there will not be a delay in issuing refunds.
Tax law changes from the stimulus package that was passed in December, encompassing a second round of stimulus checks, or Economic Impact Payments, and other benefits is the cause of the delay of the 2021 tax season.
Did you Know?
Did you Know?
If you use your personal car for business and you are self-employed, you can deduct expenses related to the business use of your Car. For example, if you are an independent contractor (not an employee) and use your car to drive for Uber or Lyft, you are eligible for a deduction.
TIPS: At the start and end of the year, note your odometer reading in your records. Then use a diary, logbook, handheld computer, or other device to record your business mileage throughout the year. Knowing your annual mileage and what part of it represents your business mileage will allow you to properly allocate your expenses.
Ready to file your taxes? Contact JBI Tax Service for fast, and affordable solutions, guaranteeing a thorough and accurate tax return. We can prepare your taxes in a no-contact environment. Simply send over all required tax documents via our safe tax link, and we will do the rest.