Infinity Consulting & Logistic Services

This is so true

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

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]

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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.