• I am Self-Employed, How Do I File Taxes This Year?

    Being self-employed has a variety of benefits that every working person today dreams of. However, taxes aren’t something you can get out of! If you’re recently self-employed whether it’s freelancing work or starting your own business from home, there’s a lot to know about how to file your taxes this year. Thankfully, our accountants at JLW Tax & Bookkeeping Services in Springfield, IL are here to offer an expert hand in the filing process. Keep reading to learn more about how to file taxes this year as a self-employed individual! Determine if You Need to Pay Taxes You may be [...]

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    What Kind of Tax Forms Do I Need As a New Business Owner?

    Filing taxes as a new business owner is a little different than filing when working for another company. Thankfully, our accountants at JLW Tax & Bookkeeping Services in Springfield, IL are here to help you every step of the way. It’s important to stay informed on the types of information and forms you will need to complete your upcoming taxes, so keep reading to see which taxes you will need depending on the type of business you are in! Don’t forget to reach out to our accountants before tax season begins to avoid strict federal deadlines. Sole Proprietorship & LLC Businesses [...]

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    What Kinds of Tax Credit Can I Receive as a Parent?

    Whether you are a new parent or have been a parent for years now, it’s no secret that childcare expenses are well, expensive! Thankfully, JLW Tax & Bookkeeping has found a way to get you the tax credit you deserve to help with those costs. Keep reading our blog to discover 4 tax credits you are potentially eligible for and can claim on your upcoming tax return. Our accountants are here to help Springfield, IL residents get the refunds they deserve as hard-working parents. Child Tax Credit The Child Tax Credit (CTC) is one of the most common for parents that are needing financial [...]

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    What is the Process of Getting My Tax Transcript?

    Are you getting a new job and need to know what you claimed on last year’s taxes? Did you want a copy of the last 5 years of tax returns to keep on hand? Then you’ll need to put in a request for getting your tax transcript! If you’re unsure of how to get the process started, JLW Tax & Bookkeeping Services in Springfield, IL has years of experience working with clients to keep them updated and knowledgeable about their taxes all year round. Keep reading below to learn more about the process of getting your tax transcript, and what steps you need to take! What is an IRS Tax [...]

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    How to Prepare for Filing Your 2021 Taxes

    Tax time can be both exciting and frustrating. While on one hand, you can’t wait to get your refund, there also comes a heap of unease in making sure you have everything to get your taxes filed right the first time. Thankfully, our tax experts at JLW Tax & Bookkeeping Services in Springfield, IL are here to help you prepare for filing your 2021 taxes. We’ve put together a short guide on what to prepare for to make your tax season as smooth as possible. Schedule With a Tax Professional While it may be tempting to learn how to use computer-generated tax filing systems that are in [...]

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    What is a 1040-X Form & When Do I Need It?

    Did you make a mistake on your 1040 tax return? Don’t worry – the IRS allows you to amend your tax returns with three years of the initial filing date! At JLW Tax & Bookkeeping Services in Springfield, IL we help clients amend their tax returns by filing a 1040-X form. Whether it’s a common mistake or you left out an entire section, our accountants are here to help you accurately and honestly file your taxes. Keep reading below to learn more about the 1040-X form and when you need it. Who Can File a 1040-X Form? A 1040-X form can be filed by any taxpayer that has already filed a [...]

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    When Do I Need to File My Taxes?

    There’s no doubt that filing taxes can be intimidating. From gathering the right documents and accounting for a multitude of expenses, it can be hard to remember the simple things like when it is you need to file your taxes. Make sure that you have everything you need this filing season by reading our helpful tips and question answers below. Our accountants are JLW Tax & Bookkeeping Services in Springfield, IL are here to help make your filing experience quick and simple. When Can I File My 2021 Taxes? This is, fortunately, a very broad answer, meaning that there is a large time frame[...]

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    What to Know About Deducting Donations from Your Tax Returns

    One of the most rewarding benefits of tax season is your ability to claim deductions that reduce the amount of taxable income you pay to the IRS. While there are common deductions for home and business owners like property, children, and even education; donations are also types of deductions that can be taken into consideration when filing your taxes. Do you make regular donations to a nonprofit religious, educational, or charitable group? If so, that would qualify you for additional deductions on your tax return. For more information on how you can go about claiming your donations, call [...]

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    How to Claim Taxes as A Small Business Owner

    So, you have opened a small business, and it's finally time to file your taxes. Depending on the type of business you are running, and the partners involved, there are many ways that you can file your taxes to ensure all claims and deductions are distributed appropriately. While it may seem overwhelming at first, our tax professionals at JLW Tax & Bookkeeping Services are here to file your business’s taxes fast, efficiently, and at an affordable price. We handle everything from sole proprietorship businesses to large corporations with multiple franchise owners. Regardless of the tax [...]

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    Springfield Illinois: Tips on How to Prepare Your Taxes

    With the end of year approaching, tax season is right around the corner, making it the perfect time to start thinking about your state and federal tax returns. As a business owner, there are many forms and regulations to keep track of when it comes to claiming your business on your taxes, that is why the professionals at JLW Tax & Bookkeeping Services are here to help you along the way. We help business owners become familiar with any tax bills that are passed without their knowledge and prepare all their documents so that the filing process is as smooth as possible. Read below for [...]

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