Tax Insights

Follow our blog to stay up to date on the latest news, insights and tips to help you make sound decisions throughout the year and be prepared when tax time arrives. Subscribe now to receive the latest blogs directly in your inbox.

Buying a new home this summer?

Summertime is a popular season for purchasing a new house.  Before you listen to any great “tax benefits” from your realtor or mortgage lender, let’s clear a few things up before you come in for your appointment. Purchasing a home? When it come to the actual...

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Upcoming Tax Deadlines

April Day12Employees Who Work for Tips – If you received $20 or more in tips during March, you must report them to your employer (employees are required to keep a daily record of tips). All tips must be reported on your individual income tax return. You can use...

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IRS Warns of Unemployment Benefits Scam

Many Americans applied for unemployment benefits in 2020 due to job loss or reduced hours resulting from the COVID-19 (coronavirus) pandemic. Unfortunately, scammers also took advantage of the high number of unemployment applications to fraudulently collect benefits....

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2021 Adjustments to Tax Brackets and Deductions

The IRS recently released a list of federal income tax adjustments for 2021. The most important changes include higher standard deductions and higher income limits for common tax rates. Standard Deduction Increases The standard deduction for individual taxpayers will...

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Tax Tip: Tracking Income and Expenses for “Gig” Work

With working from home becoming more common in 2020 & 2021, many people are taking on freelance or “gig” work to supplement their incomes. Whether you rely on gig work as your primary income source or just log a few hours a week, it is important to track all your...

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4110 Crain Hwy, Waldorf, MD 20603

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Hours: Mon-Friday 9am - 5pm. Open extended hours Jan 27- April 15.

301-843-1624 or 301-645-2599

Fax: 301-843-7694

info@jrjtaxes.com