Jerry Jones CPA
Wouldn’t it be nice to have a CPA that you deal directly with, that understands your business, that works in all 50 states and is there for you when you need him?

9 Signs that Someone is Using Your Identity

After months of searching, you've finally found it: the elusive perfect apartment, and it's yours pending a routine credit check. You're practically planning your housewarming party when the landlord calls you to tell you your application has been rejected. You're crushed, but more importantly you're worried and upset. Could you be the victim of identity theft?Every year, millions of lives are financially hijacked by a stolen identity.

5 Frightening Things Thieves Can Do with Your Identity

Maybe you love shopping online. Or, maybe you prefer to use your debit card to make purchases in the store. No matter how you leave your digital footprint, you – and virtually everyone else who's not completely off the grid – are at risk of falling victim to identity theft. In fact, nearly 16.7 million American consumers have had their identities compromised, according to a 2018 identity fraud report. Maybe this does not come as a surprise, but have you really considered all the risks associated with identity theft?Sure, there are some telltale signs that your identity has been compromised. But, in an ever-changing digital landscape, it is important to note the unusual but frightening ways thieves can use a stolen identity for their own financial gain.

1. Open a New Credit Card Account

Instead of stealing your own credit card to make purchases, a thief may use your name and Social Security number to open random accounts. Because these fraudulent charges won't appear on your current bank statement, you may not notice right away. Only when your credit report takes a plunge will you notice that a criminal has accumulated debt in your name. The good news, however, is that getting rid of fraudulent credit accounts in your name is entirely possible.

How the new tax law changes Roth IRA conversions

 

By Ed Slott

The new tax law signed in December may affect the way you and your clients evaluate the pros and cons of Roth conversions.

Among the biggest changes: Beginning in 2018, Roth conversions cannot be undone. Lawmakers repealed Roth recharacterizations, which previously enabled Roth conversions to be reversed.

"Overall, I believe we have hit rock bottom for tax rates, making today's Roth conversions even more valuable for clients in retirement."

Consequently, the discussion around Roth conversions will immediately need to change. Clients will require more advice, and their advisors will need to conduct more careful analysis before making any recommendations.

Here are how some of the benefits and drawbacks of Roth conversions have changed under the new tax law.

Estate Litigation to Rise in 2018, LeClairRyan Attorney Predicts

estate-litigation-cpa-adviceWILLIAMSBURG, Va., Feb. 13, 2018 /PRNewswire/ -- As baby boomers continue to age, the pace of estate litigation is accelerating, according to Will Sleeth, a partner in national law firm LeClairRyan's Williamsburg office and leader of the firm's Estate and Trust Litigation team.

"Changes in the federal estate tax have grabbed many of the headlines, but I expect four other estate litigation trends will move to the forefront in 2018," says Sleeth, who highlights some likely developments in a blog, 4 Estate Litigation Predictions For 2018.

Estate Litigation Volume: "We are very likely to see an increase in the volume of estate litigation in 2018," writes Sleeth in the post that appears in the firm's Estate Conflicts blog, which focuses on disputes involving wills, trusts, guardianships, and celebrity estates. One reason is the aging of our society; and with more money being passed down, "there's much more to fight over than at any time in the past," he observes.

I.R.S. Says It Will Reject Tax Returns that Lack Health Insurance Disclosure

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By Reen Aberlson

Despite President Trump’s pronouncements, not only is Obamacare not dead, there are signs that his administration is keeping it alive.

In the latest signal that the Affordable Care Act is still law, the Internal Revenue Service said this week that it is taking steps to enforce the most controversial provision: the tax penalty people face if they refuse to obtain health insurance.

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