Saving A Few Hundred Bucks That Really Costs You Thousands

I just saved myself money by doing my own taxes. Why do I need you when there is free online software X or even a mobile app that’ll do it and even GUARANTEES it is correct? You’re right that doing…

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Put It On Extension

With the end of the tax season coming on Tuesday April 18th, 2017(normally it is April 15th) a recurring theme has been “I’ll just put it on extension”, but what does this really mean? Filing an extension, which is commonly…

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Claiming Back Tax

Claiming Tax Back! Are You Eligible For the $1 Billion IRS Giveaway?

The IRS is giving away $1 billion! Yes, you read that correctly, one billion with a “b”. There is a catch, though, you must be one of the almost 1million taxpayers who have yet to file a 2008 income tax…

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Why Married Filing Separately Is Like Committing Income Tax Suicide and Our Solution For You

Now that Valentine’s Day has passed, it’s time to talk about an income tax situation that will make you love your tax professional almost as much as you love your significant other!   At JFTS we get a lot of married…

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We Need To See Some ID! How To Tell If Your Tax Preparer Is “Legit”

Now that the IRS has finally instituted the Preparer Tax Identification Number(PTIN) requirements for paid preparers it is our duty to make sure that you know how to designate between the different professionals out there who prepare and file income…

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Big News for Small Business – Two Tax Benefits for 2011

After a long hiatus thanks to a busy tax season, we’re back with news you can use. Here at JFTS we believe that this year’s April 18th filing deadline is just the beginning and that there is still so much…

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Bartering & Your Taxes – 4 Tips On How To Report Barter Income

In the tough times that small businesses are going through today, many business owners are choosing to levy payments for goods and services by bartering.  It’s important to recognize that the fair market value of the goods or services provided…

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Missing a W-2? Here is what you do!

Missing a W-2? Here is what you do! In order to file your 2010 tax return, you need to have all of your financial and tax documents including all your W-2 employment forms. You should receive Wage and Tax Statement,…

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Is Your Income Taxable or Non-Taxable? You might be surprised!

According to the US Tax Laws, generally, most of your income is considered taxable but in some situations, certain types of income can be either only partially taxable or not at all taxable. In order to help you understand the…

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