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J&L Financial Fortress
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  • FAQ
  • Contact Us

Frequently Asked Questions

What are taxes?

 Taxes are mandatory fees imposed by the government on individuals and businesses to fund public services and programs. 

Who is responsible for paying taxes?

  Everyone who earns income, whether through a job, investments, or other means, is responsible for paying taxes.
 

Why do we need to pay taxes?

 Taxes are necessary to fund government services such as infrastructure, education, healthcare, and defense. They also help redistribute wealth and provide for those in need.
 

When do I need to file my taxes?

 In the United States, taxes must be filed by April 15th of each year. 

How do I file my taxes?


 You can file your taxes by paper mail or electronically through a tax preparation software or with the help of one of our tax professionals.
 

What is the difference between tax deductions and tax credits?

 Tax deductions reduce the amount of income that is subject to taxes, while tax credits directly reduce the amount of tax owed.

 

What documents do I need to file my taxes?

 You will need documents such as W-2 forms, 1099 forms, and receipts for expenses such as charitable donations and business expenses.
 

What happens if I don't file my taxes?

 If you don't file your taxes, you may face penalties and interest charges. In extreme cases, you could even face criminal charges.
 

Can I get help with filing my taxes?

We are always available to assist with the preparation of your tax return.
 

What is the deadline for requesting an extension to file taxes?

 In the United States, the deadline to request an extension is also April 15th, but it gives you an additional 6 months to file your taxes. 


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