Jen’s Tax & Financial Services

03/21/2026

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02/05/2026

🚨🚨🚨 TAX TIPS 🚨🚨🚨

🔁 ROLLOVER vs 💸 NOT ROLLED OVER (THE CORE RULE)

🔁 ROLLED OVER = NOT TAXABLE (WHEN DONE RIGHT)

A rollover means retirement money moves directly from one qualified account to another.

Common rollovers
• 401(k) → Traditional IRA
• 403(b) → Traditional IRA
• Traditional IRA → Traditional IRA

Tax result
• ✅ No income tax
• ✅ No 10% early withdrawal penalty
• ✅ Not included in taxable income (still reported)

Best practice
• Direct rollover (trustee-to-trustee)
Money never touches your bank account.

Client-friendly rule

If you don’t touch the money, the IRS usually doesn’t either.

💸 NOT ROLLED OVER = TAXABLE INCOME

If retirement money is cashed out:
• ❌ Tax-deferred status is lost
• ➕ Added to your income for the year
• ➕ Can increase tax bracket
• ➕ Can reduce or eliminate tax credits

If under age 59½
• ➕ 10% early withdrawal penalty
• ➕ Federal tax
• ➕ Possible state tax

02/03/2026

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01/21/2026

The 2026 Tax Filing Season Opens Next Week!

The IRS has announced the first day of the 2026 filing season and now is a good time to start preparing your 2025 tax returns. January 26, 2026, is the opening of the nation’s 2026 filing season. This year, several new tax law provisions of the One, Big, Beautiful Bill become effective, which could impact federal taxes, credits and deductions. Learn more at IRS.gov.

https://www.irs.gov/newsroom/irs-announces-first-day-of-2026-filing-season-online-tools-and-resources-help-with-tax-filing

IR-2026-02, Jan. 8, 2026 — The Internal Revenue Service announced Monday, January 26, 2026, as the opening of the nation’s 2026 filing season. This year, several new tax law provisions of the One, Big, Beautiful Bill become effective, which could impact federal taxes, credits and deductions.

01/20/2026

🎓COLLEGE KIDS & TAX CREDITS LET’S CLEAR THIS UP

Having a child in college does NOT automatically mean your refund goes up.

Let’s talk facts.

You may qualify for education credits like the American Opportunity Credit (AOTC) or Lifetime Learning Credit (LLC) BUT ONLY IF certain rules are met.

Here’s where people get tripped up 👇🏽

📌 You may NOT qualify for a credit if:
• Scholarships or grants covered most (or all) of the tuition
• There were little to no out-of-pocket education expenses
• The student isn’t your dependent
• Income limits are exceeded
• The student already claimed themselves
• The credit has already been used the max number of years

💡 Important education rule people miss:
Scholarships and grants reduce the amount of qualified expenses. If tuition was fully paid by scholarships, there may be no credit to claim even though your child is in college.

🎓 Going to college ≠ automatic tax benefit
💰 Credits are based on what was actually paid, not attendance
🚫 Filing it wrong can cause audits, delays, or credit reversals

This is exactly why:
✔️ Knowing the rules matters
✔️ Filing correctly matters
✔️ Assuming costs you money

Every situation is different. Education credits are not “one size fits all.” If you’re unsure ask before filing. Guessing is expensive.

01/14/2026

Important tax dates👇🏽

📆 Jan 2, 2026 — Refund advances begin

📆 Jan 26, 2026 — IRS opens e-file

📆 Feb 2, 2026 — W-2 deadline for employers

⏳ 7–14 days — Average processing for early filers

📆 Feb 25, 2026 — First major refunds expected to drop

💰 Early filers 💰

01/09/2026

Just wait until you see this office update!!! Super excited to get the pink girly office I have been envisioning!!

01/09/2026

12/30/2025

12/30/2025

‼️‼️IF YOU WANT A SMOOTH REFUND‼️‼️

📋🗂️START WITH THE RIGHT DOCUMENTS🗂️📋

Clients get delayed not because the IRS is slow, but because you weren’t ready.

WHAT YOU NEED BEFORE FILING:

• W-2s from every employer for the current tax year!
• 1099s (unemployment, self-employment, interest, retirement distributions, etc.)
• ID + Social Security cards for EVERYONE on the return
• Proof your kids actually live with you (school docs, medical docs, lease, etc.)
• Childcare receipts
• Business income + expenses if you’re self-employed
• Last year’s tax return

Send a message to learn more