11600 Verona Road • Battle Creek, MI 49014 • 269-964-4710info@jandktaxservices.com

 

Frequently Asked Questions

Why should I choose J & K Enterprises to prepare my taxes?

Are you one of nearly half of all American taxpayers overpaying the IRS? Could you be repeating the same mistakes or overlooking deductions year after year? J & K tax professionals thoroughly examine each customer's tax situation to get every deduction, credit, and tax advantage possible. We pledge quality tax preparation coupled with premier customer service for each one of our clients.

How can outsourcing your bookkeeping help your business?

The main objective when outsourcing bookkeeping is to get you out of those books and out building your business. Outsourcing your bookkeeping eliminates many potential problems such as:

  • having family members doing your books
  • having a bookkeeper sitting around most of the day
  • wasting your time doing the books that could be focused on building the business

How can I receive a nice discount on my fee?

When your group joins our Group Discount Program, everyone in your team of at least 3 new referrals saves 20% on their tax preparation for the first year of service. To sign up for our Group Discount Program, simply complete the contact us form and mention the program.

How do I choose the right business type?

Make the most out of your small business by choosing the right structure. Selecting the appropriate entity for your business will help shield you – the business owner – from personal liability and in many cases will help reduce your taxes. Ask to meet with us as the first ½ hour consultation is free.

When is the earliest that I can file my taxes?

When you get your W-2 and all other pertinent information, if you itemize or use the standard deduction, you can have your taxes prepared right away, but the IRS will not accept them before approximately January 20. You cannot file your taxes using your last check stub until after February 15th.

Is there a penalty for filing my taxes after the deadline?

Yes, you can opt to pay your tax liability through an installment plan. There is a fee in most cases paid to set up this type of program with the IRS. In addition to paying taxes through an installment payment plan. Remember that there are interest and penalties (most cases) until balance is paid in full.

What paperwork should I bring to my tax interview?

A list, along with what to expect during your interview, can be downloaded under the resource tab.

What paperwork should I bring for my dependents?

  • Birth Certificate
  • Social Security Card/ITIN/ATIN
  • Student ID if applicable
  • School or Medical Records that shows dependent lives with you.


Does bankruptcy impact my taxes?

Under Chapter 7 bankruptcy, federal taxes are exempt from discharge. When filing Chapter 13 bankruptcy, it is very important to file and pay your taxes during the bankruptcy proceedings because the court can dismiss your claim if you fail to meet this requirement. Dismissing the claim leaves you responsible for all of your debts.

Am I taxed on money that I inherit from a loved one?

Generally, property received as an inheritance is not included in your income. However, it can be taxable if it is later used by you to make additional income. For instance you inherit stock worth $50,000 you keep the stock and sell it 18 months later for $75,000 you will have to recognize a $25,000 long term capital gain as income.

What should I do if I get another W-2 or additional income documentation?

If you have already filed your tax return and find Missing income you should file an amendment. You’ll need to file Form 1040X, Amended U.S. Individual Income Tax Return.

Don't panic, you have three years from the date of filing or two years from paying (whichever is later) to correct the issue. If you owe money you want to pay ASAP as there is interest and penalties assessed until paid in full.

How can I check the status of my refund?

The 'Where’s My Refund' tool on the IRS website provides the most up-to-date information regarding the status of your refund. This tool is updated every 24 hours. You can use https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp or see the link on our front page.