12/12/2024

Hello everyone, 🙋🏽‍♀️ Just like that it’s December and we are now entering the Christmas season and SNOW!!! Please drive careful and safe!! Watch your speed and remember when it rains, and the temperature drop the ground looks wet, but it could also be black ICE… You can’t stop on ice so slow down so you can get to your designated place safe. Pull over for emergency vehicles and watch out for those Snowplow Trucks. 😊

As the 2025 tax season approaches, the IRS encourages all taxpayers to take an important step to safeguard their identity by signing up for an identity protection personal identification number (IP PIN).

If you want to obtain an IP PIN (Identity protection pin), click on the link below and it will take you to the IRS website. If you lost your pin, sign into your account it will be there, remember you will need this PIN to e-file your taxes electronically.

To receive your pin: IDME.com. or call 1-800-908-4490.

Click on the link to log in. Online account for individuals | Internal Revenue Service (irs.gov)

If you purchase Premium Health Insurance through Marketplace Health Insurance this form will be needed to e-file your taxes so if you lost it get a replacement as soon as you can.

Premium Marketplace Insurance: Phone number is 1-800-318-2596 can send a replacement if you don’t receive it by February (this will be in a yellow envelope).

Without either of these 2 documents (if you participate in them) will delayed your refund process.

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Tax Year 2025 Standard Deductions has been released:

For single taxpayers and married individuals filing separately the standard deduction rises to $15,000 an increase of $400 from last year 2024. For married couples filing jointly, the standard deduction rises to $30,000.

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The IRS is finally moving forward with a new tax reporting rule that could impact you if you earn freelance income or have a side hustle. The tax agency will require services like PayPal, Venmo or Cash App to issue tax form 1099-K to anyone who made more than $5,000 in income through third-party payment apps in 2024. 

Chat soon!!

Jennifer