Tax Prep Financial Services

01/09/2025

Here is my new, temporary office while I help Brenda convalesce from hip surgery.

01/31/2023

Thank you to everyone who joined us last night at our first Facebook Live Tax Workshop!! You can still catch the replay!

10/27/2020

If you thought the stock market (the American economy) profited from the last Trump tax cut, wait until you see it soar following the next Trump tax cut after he gets re-elected. Patriots, we must vote to secure a large enough victory margin for President Trump to offset any potential cheating on the part of the Democrat Party. In other words, make it a large enough landslide to leave no doubt.

10/22/2020

Sorry. I forgot to add that 85% of my tax clients saw their taxes go down thanks to the Tax Cuts and Jobs Act initiated and pushed through by President Trump. And if Joe Biden is elected President, and he reverses the Trump tax cuts as he has promised, then those same people will see their taxes go back up. Also, ask yourself, prior to the China virus wreaking havoc on our (and the world's) economy, were you better off just prior to COVID-19 than you were 3 1/2 years earlier? I know for me, my retirement plan has doubled in just 2 years, and is even up 25% since COVID-19.

10/22/2020

If you watch the Presidential debate tonight, remember a few facts. Both candidates have a political record. Compare them by their results. Joe Biden has been in Washington 44 years - 36 years as a U.S. Senator and 8 years as the Vice President of the United States. What legislation has he gotten passed in that time period, and has it improved your life or America? Did he get passed any of the legislation on which he campaigned? Donald Trump has been in Washington less than 4 years - all as President of the United States. What legislation has he gotten passed in that time period, and has it improved your life or America? Did he get passed any of the legislation on which he campaigned? Also, watch for the policies the candidates promote to ascertain if they will improve America or your personal life. In voting for Presidents going back to the Carter vs. Ford election, President Donald Trump has gotten more legislation passed on which he promised and campaigned than any other President in my lifetime.

09/18/2020

Texas unemployment rate falls for the 4th straight month to 6.8% - the lowest since the pandemic began.

AUSTIN ⎯ In August, Texas saw a decrease in the state’s seasonally adjusted unemployment rate to 6.8 percent. This is the fourth consecutive monthly decrease and the lowest rate since March 2020 when the Texas economy was initially impacted by the COVID-19 pandemic. Texas is below the national s...

08/31/2020

I have NEVER seen an economy with so much underlying strength (infrastructure). IN THE FACE OF A PANDEMIC THAT THE MAIN STREAM MEDIA WANTS TO PORTRAY AS SCARY AS THE SPANISH FLU OF 1918, our IRAs are up 31.3% YTD, 22.5% right before the news of the China virus hit the markets, and 75% from the bottom of the sell-off. Could we have such a strong economy, except for a business man occupying the Oval Office? Uh, no; not even close.

08/24/2020

I just saw where, in spite of the COVID-19 pandemic, the DJIA is down only .54% (that's a little more than 1/2 of 1%) for the year since 1/1/20, and is actually up over 2,400 points (over 9%) from 1 year ago. In fact, the S&P 500 is up 6.2% for the year and 19% from a year ago, and the NASDAQ is up an astounding 26.8% for the year and 44.9% from a year ago. I like Donald Trump's economy!

08/21/2020

In July, Texas saw a decrease in the state’s seasonally adjusted unemployment rate to 8.0 percent. This is the third consecutive monthly decrease and the lowest rate since March 2020 when the Texas economy was initially impacted by the COVID-19 pandemic. Texas is below the national seasonally adjusted rate of 10.2 percent.

“July’s unemployment numbers continue to show the underlying strength of Texans and our economy,” said TWC Chairman Bryan Daniel. “TWC remains committed to our goal of creating skills enhancement and career opportunities for Texans to continue to keep Texas as the top state to live and work.”

This was copied from a report by the Texas Workforce Commission, and confirms the "V" shaped recovery our economy has experienced. In fact, as I have believed from the beginning of this whole Chinavirus pandemic, as badly hit as our economy was, we may still not experience a true Recession, because, as I learned in economics class in college, the definition of a Recession is 2 consecutive quarters of declining GDP. Moreover, the NASDAQ index is UP 15% FROM THE BEGINNING - AND IN THE FACE - OF THE PANDEMIC. THAT'S A 30% ANNUALIZED RETURN. The underpinnings of this economy are strong!

08/21/2020

I am having difficulty with my mailing database. I intended to mail out the following postcard reminder:

We still have not received your 2019 income tax data. You only have until October 15th to timely file your 2019 personal income tax return. Corporations who filed extensions by March 15th only have until September 15th to file their federal returns.

If you are planning on having us prepare your 2019 tax return, we will need to have your data in our office by September 1st, in order to have your personal return completed by October 15th. Corporations should submit their data by August 25th or make special arrangements for us to complete their returns on time. If you have already mailed your data to us, then disregard this reminder. If you have had someone else prepare your return, you will be automatically dropped from our mailing list in December.

Simply download and print our worksheets, Engagement Letter, Health Care Coverage Questionnaire, and submission instructions from the “Tax Worksheets” page of our website: www.jeffthetaxman.com. Or save them, complete them on your computer, and re-save them. Then submit your data and let us once again help you “Pay YOURSELF, not the IRS.” FYI, we conduct tax estimating and planning in November. Thanks for your repeat tax business!

Jeff “The Tax Man” Peterson, President
Tax Prep Financial Services

P.S.–Ask your National Sales Director to have “Jeff The Tax Man” teach his one-minute per day record-keeping system at her Fall Advance. Booking details are on the “For Directors” page of our website. Or, get a copy of our video training and show it to your Units or Area, and get our NEW Cosmetics Business ExcelTM spreadsheet at our “Home” page.

*** THOSE LOW-INCOME TAXPAYERS WHO ARE NOT REQUIRED TO FILE A TAX RETURN, SUCH AS THE HOMELESS OR THE ELDERLY, HAVE UNTIL OCTOBER 15TH TO CLAIM THEIR $...