Infinity Consulting & Logistic Services

01/25/2024

07/08/2023

This is so true

02/24/2023

Let us help you maximize your deductions! Don’t try it on your own or go to turbo tax!!
https://www.infinityconsultantstaxoffice.org/

☎️ Message me or call 1-936-367-9198 for more information
✉️ [email protected]

02/22/2023

🚨TAX TIP🚨

✅Taxpayers: Understand that your preparer handles the preparation & submission of your return ONLY. Once in the IRS hands any processing questions should be directed to them.

✅If your preparer answers IRS processing questions for you, understand that your Tax Professional is going ABOVE & BEYOND doing this.

✅One should not feel like you are ENTITLED to harass your tax preparer, blame them for IRS delays or make your financial hardship their responsibility.

✅Reading transcripts, trying to guess dates is YOUR choice! IRS takes up to 21 days to process a Tax Return! It is not your preparers job to try and GUESS what the IRS is doing throughout that process. We don’t know why you don’t have a date and that is simply outside of our control. Furthermore, that is not what we are paid to do.

✅The only reason a tax preparer should be contacted past the initial preparation is if you find an error, you got an additional document that requires an amendment, you have a question about something on your return, your deposit didn’t post or if you’ve been audited.

✅Also- Identity Verification is random. It’s not based on who prepared your return or what income you claim. The irs randomly selects people to confirm who they are to prevent identity theft and your preparer has no control over that. People are flagged for ID verify even when they self preparer. 🪪

✅Last but not least! Most Tax Preparers do not get paid until you receive your Tax Refund so it is in OUR best interest that your tax return is processed without delay!

02/22/2023

A little FYI, Tax Info: When/If you see a different routing and account number on your return paperwork, that is NOT your preparer’s personal banking info!! That is THE BANK! THEE BANK!! The bank your money goes to, to ensure we, as the preparer, get what is owed to us!! ALSO, the bank you will get your advance from, if approved.

Your money DOES NOT go into anyones personal account! It’s directly to Refundo, SBTPG, Republican, for example.

We as the preparer do NOT get paid, UNTIL you get paid. Then we still get paid AFTER. Tbh!

Just a little inside info

02/18/2023

The standard deduction is used by people who don’t itemize their taxes, and it reduces the amount of income you must pay taxes on.

For married couples filing jointly, the standard deduction is $27,700 for 2023, up from $25,900 in the 2022 tax year. That’s an increase of $1,800, or a 7% bump.
For single taxpayers and married individuals filing separately, the standard deduction is set at $13,850 in 2023, compared with $12,950 last year. That’s an increase of about 6.9%.
Heads of households’ standard deduction in 2023 jumps to $20,800 from $19,400 in 2022. That’s an increase of 7.2%.

Let me help you maximize your deductions!
https://www.infinityconsultantstaxoffice.org/

☎️ Message me or call 1-936-367-9198 for more information
✉️ [email protected]

02/14/2023

💕

02/13/2023

5 Travel Nurse Tax Tips

1. Track Expenses

Most handheld mobile devices offer apps that help you keep track of daily expenses. You can also use a good old-fashioned pencil and paper or a pocket-sized ledger book. Clear records will enable you to easily match expenses with receipts, helping you file accurately.

2. Keep Receipts

Save all receipts for dining, uniforms, fuel, utilities, and other expenses related to travel nursing. In short, save every receipt for every exemption you plan to claim. Either scan these receipts electronically or store them in a file folder (or shoebox!) for safekeeping. If you’re subject to an audit, you’ll need your receipts. Again, check the apps available for your smartphone - many of them offer features that allow you to snap quick pictures of your receipts and file them for later.

3. Know about State Income Tax

You may be subject to state income tax in both the state of your permanent residence and the states where you had travel nurse jobs. Forty-one U.S. states have a state income tax, but Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming don’t. Learn more about State Tax Questions or consult a tax expert (preferably a CPA) who is familiar with state income tax laws for travel nurses and income tax reciprocity agreements among states.

4. File on time, not late

When W-2s are in, schedule a date to either file taxes yourself or meet with a tax professional. This way, you’ll receive your refund sooner than later. Moreover, by allowing an experienced CPA to file your taxes, you may improve the size of your return and minimize the risk for random audits.

5. Enroll in a Tax Advantage Plan

Travel nurse agencies like American Traveler offer Tax Advantage Plans that can increase your take-home pay by as much as $10,000 a year. Contact your recruiter to learn more about all the ways that traveling can have a positive effect on your finances.

Let me help you maximize your deductions!
https://www.infinityconsultantstaxoffice.org/

☎️ Message me or call 1-936-367-9198 for more information
✉️ [email protected]

02/11/2023

Many of the tax breaks for parents pertain to child care and education, but the easiest tax break of all is for simply having children. One of the most used credits for having children is the Child Tax Credit.

For tax years beginning with 2018, the Child Tax Credit is doubled to $2,000 per qualifying child with a refundable portion of up to $1,500 for 2022 with the Additional Child Tax Credit. The phaseout for the new credit begins at:

$200,000 for single filers and
$400,000 for joint filers.
Stimulus impact on the Child Tax Credit for 2021

Child Tax Credit Changes

The American Rescue Plan raised the maximum Child Tax Credit in 2021 to $3,600 for qualifying children under the age of 6 and to $3,000 per child for qualifying children ages 6 through 17. Before 2021, the credit was worth up to $2,000 per eligible child, and 17 year-olds were not eligible for the credit.

The Child Tax Credit changes for 2021 have lower income limits than the original Child Tax Credit. Families that do not qualify for the credit using the revised income limits are still eligible for the $2,000 per-child credit using the original Child Tax Credit income and phase-out amounts.

In addition, the entire credit is fully refundable for 2021. This means that eligible families can get it, even if they owe no federal income tax.

Let me help you maximize your deductions!
https://www.infinityconsultantstaxoffice.org/

☎️ Message me or call 1-936-367-9198 for more information
✉️ [email protected]

02/10/2023

Deductible travel expenses include:

Travel by airplane, train, bus or car between your home and your business destination.
Fares for taxis or other types of transportation between an airport or train station and a hotel, or from a hotel to a work location.
Shipping of baggage and sample or display material between regular and temporary work locations.
Using a personally owned car for business.
Lodging and meals.
Dry cleaning and laundry.
Business calls and communication.
Tips paid for services related to any of these expenses.
Other similar ordinary and necessary expenses related to the business travel.

Let me help you maximize your deductions!
https://www.infinityconsultantstaxoffice.org/

☎️ Message me or call 1-936-367-9198 for more information
✉️ [email protected]

02/08/2023

Tax Tip ! 💡

Did you know that the IRS will Delay requiring 3rd party payment processors to report payments your business received over $600 for goods and services?

In other words, you may not receive a 1099-K from Cashapp, Venmo, Paypal and/or other third-party payment processors about payments over $600. But you may receive a 1099-K if you received over $20,000 in payments through more than 200 transactions.

The new $600 threshold will take full effect in tax year 2023.

Note that this applies only to the sending of 1099-K forms. You must still report all taxable income you receive through a third-party processing platform to the IRS, regardless of whether you receive a tax form showing the income. I can help you figure this out.