AAA Financial Svcs Store #005

01/11/2022

It’s About To Go Down!!! 🤑🤑🤑
You ready?
I Am!

01/03/2022

01/03/2022

It’s your money…💵💰
You can get it now! 🤑🤑🤑
Refund Advances activated!! ✅🥳

01/02/2022

Let me make sure you don’t leave money sitting on the table! 🤑🤑💸
If you don’t have a Professional Tax Preparer I’m ready and waiting to help!!!
Refund advance loans available!

12/23/2021

Proper preparation prevents poor performance…
Are you getting ready? Cause I’m READY! 🧾✅💰🤑🤑🤑💪🏾

12/23/2021

💵🧾💰🤑🤑✅
You ready???

12/21/2021

Big changes taking effect this Tax season! 💲I’ll make sure you get the Max Refund!
💰💰💸🤑🤑✅
#1040

12/20/2021

No matter whether you have a
Schedule C
1099 or
W-2
I Can maximize your return! The season starts soon. Are you ready?
I am!

11/20/2021

Tax Tip

Teachers can deduct out-of-pocket classroom expenses including COVID-19 protective items

Fall is here and another school year is in full swing. Many teachers are already dipping into their own pockets to buy classroom supplies that will help set their students up for success. Doing this all year long can add up fast. Fortunately, eligible educators may be able to offset qualified expenses they paid in 2021 when they file their tax return in 2022.

Educators who work in schools may qualify to deduct up to $250 of unreimbursed expenses. That amount goes up to $500 if two qualified educators are married and file a joint return. However, neither spouse can deduct more than $250 of their qualified expenses when they file their federal tax return.

Taxpayers qualify for this deduction if they:

Teach any grade from kindergarten through twelfth grade. Are a teacher, instructor, counselor, principal or aide. Work at least 900 hours during the school year. Work in a school that provides elementary or secondary education.

Qualified expenses include:

Professional development courses. Books. Supplies. Computer equipment including related software and services. Supplementary materials. Athletic supplies only for health and physical education Personal protective equipment, disinfectant, and other supplies used for the prevention of the spread of coronavirus.

Expenses for COVID-19 protective items. These items include, but are not limited to:

Face masks. Disinfectant for use against COVID-19. Hand soap. Hand sanitizer. Disposable gloves. Tape, paint or chalk to guide social distancing. Physical barriers, such as clear plexiglass. Air purifiers. Other items recommended by the Centers for Disease Control and Prevention to be used for the prevention of the spread of COVID-19.

This deduction is for unreimbursed expenses paid or incurred during the tax year. Taxpayers should keep records, such as receipts, and other documents that support the deduction with other tax documents. Eligible taxpayers will claim the deduction on Form 1040, Form 1040-SR

11/20/2021

What’s your Status?
As taxpayers get ready for the upcoming filing season, It's important for them to know their correct filing status. A taxpayer's filing status defines the type of tax return form they should use when filing their taxes. Filing status can affect the amount of tax they owe, and it may even determine if they have to file a tax return at all.
There are five IRS filing statuses. They generally depend on the taxpayer's marital status as of Dec.31. However, more than one filing status may apply in certain situations. If this is the case, taxpayers can usually choose the filing status that allows them to pay the least amount of tax.

When preparing and filing a tax return, the filing status affects:
If the taxpayer is required to file a federal tax return
If they should file a return to receive a refund
Their standard deduction amount
If they can claim certain credits
The amount of tax they should pay
Here are the five filing statuses:
Single. Normally this status is for taxpayers who are unmarried, divorced or legally separated under a divorce or separate maintenance decree governed by state law.

Married filing jointly. If a taxpayer is married, they can file a joint tax return with their spouse. When a spouse passes away, the widowed spouse can usually file a joint return for that year.

Married filing separately. Married couples can choose to file separate tax returns. When doing so it may result in less tax owed than filing a joint tax return.

Head of household. Unmarried taxpayers may be able to file using this status, but special rules apply. For example, the taxpayer must have paid more than half the cost of keeping up a home for themselves and a qualifying person living in the home for half the year.

Qualifying widow(er) with dependent child. This status may apply to a taxpayer if their spouse died during one of the previous two years and they have a dependent child. Other conditions also