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?
"We highly recommend Jerry Jones, a CPA in Reno, NV to anyone who is interested in being advised in all areas of their tax planning in an efficient and expert manner. He is a very dedicated individual who works hard for his clients, handling all of his clients personally, and follows through on every part of the tax-filing process. Jerry is extremely knowledgeable with the regulations and requirements needed to successfully calculate both personal and business taxes, and is vigilant in keeping up with the latest laws, updates, and changes. Jerry is a creative thinker who has always made himself available outside of normal business hours to answer our questions. We particularly appreciate the occasional emails he sends out apprising his clients of changes to the tax code that could affect us. If you are looking for an engaged, and thoroughly competent CPA, look no further."
Chris & Amanda Schroeder, Reno, NV

The Home Office Deduction

It Just Got Easier!

Jerry Jones, CPA

Everyone has tried (or wanted) to take those “home office” deductions on their personal tax returns and have been told that it’s a difficult area to get past the IRS and, in fact, it’s a major “red flag” for the IRS. If you took the chance and decided to take the deductions, always in the back of your mind was, “Will I get caught?” and “Was it worth it?” Well, the good news is that things just got better. New rules make it easier than ever for some taxpayers to claim the deduction.

Schedule E Vs. LLC Return

Bad news, it seems like “tax preparers” across the country have been preparing LLC tax returns when the only owners of the LLC are a husband/wife or each as an individual. This is a grievous error. This type of ownership is known as a “sole owner” LLC and is not required and should not be filed as a separate return. It is to be shown on the owners’ personal tax return as a Schedule E. The only reason to file the LLC return would be for the “tax preparer” to generate more fees.

Get Credit for Child and Dependent Care This Summer

Many parents pay for childcare or day camps in the summer while they work. If this applies to you, your costs may qualify for a federal tax credit that can lower your taxes. Here are 10 facts that you should know about the Child and Dependent Care Credit:

1. Your expenses must be for the care of one or more qualifying persons. Your dependent child or children under age 13 usually qualify. For more about this rule see Publication 503, Child and Dependent Care Expenses.

IRS Wants To Read You Your Rights (Albeit Symbolically)

The IRS has finally declared “A Taxpayers Bill of Rights” after years of prodding by taxpayer advocates and Congress. Nice gesture, but the IRS even acknowledged that they have no mechanism to make sure they are followed.

Only 46% of taxpayers believe they even have any rights. If you don’t know what your rights are, you will never avail yourself of them. The current IRS Commissioner admits that the bill of rights is intended to help restore battered taxpayer confidence in the tax system.

Extraordinary Tax Deductions

Okay, admit it: As you've struggled with your tax return, trying to come up with some extra deductions to pump up your refund or reduce what you owe, you've taken a few flights of fancy. "Can I claim a deduction for all those blood donations at the Red Cross?" Nope. "How about a charitable contribution for all the time I donate to the church?" No, again. "Can I count the wedding gift for my boss's daughter as an employee business expense?" Come on! On the other hand, your fellow taxpayers have successfully claimed write-offs for many things that most of us wouldn't even imagine, ranging from cat food to a casualty loss for a vehicle totaled by a drunk driver. Here are 15 of our favorites.

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