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?
"I am a small business owner operating an equipment distribution business. I feel fortunate to have known Jerry personally and professionally for over 22 years. Jerry was tempted to walk away when he first saw the mess I had created in growing a small business, but he showed patience and persistence in getting our operation organized. Jerry has advised and assisted me with organizing our accounting system, business and personal planning, real estate acquisition, major supplier negotiations, credit facilities and tax returns. His current with knowledge of tax laws and requirements is reassuring. I would have to characterize Jerry’s approach to accounting and tax returns as very conservative. In short, I have known Jerry through good times and bad and he has proven to be a very valuable recourse to the company and myself. If anyone has any questions. I would be happy to elaborate further".
Will Morgan, WRM Inc

Taxpayers Who are Victims of Domestic Abuse Should Know Their Rights

tax education domestic abuse victim CPA tax adviceDomestic abuse often includes control over finances. An important part of managing finances is understanding one’s tax rights. Taxpayers have the right to expect the IRS to consider facts and circumstances that might affect the individual’s taxes.

Taxpayers have the right to:

  • File a separate return even if they’re married.

  • Review the entire tax return before signing a joint return.

  • Review supporting documents for a joint return.

  • Refuse to sign a joint return.

  • Request more time to file their tax return.

  • Get copies of prior year tax returns from the IRS.

  • Seek independent legal advice.

How to Get Tax Transcripts and Copies of Tax Returns from the IRS

Tax transcript Jerry Jones CPA copy tax returnTaxpayers should keep copies of their tax returns for at least three years. Those who need a copy of their tax return should check with their software provider or tax preparer. Prior year tax returns are available from IRS for a fee.

For those that need tax transcripts, however, IRS can help. Transcripts are free.

Tax Transcripts

A transcript summarizes return information and includes Adjusted Gross Income (AGI). They are available for the most current tax year after the IRS has processed the return. People can also get them for the past three years.

When applying for home mortgages or college financial aid, transcripts are often necessary. Mortgage companies, however, normally arrange to get one for a homeowner or potential homeowner. For people applying for college financial aid, see IRS Offers Help to Students, Families to Get Tax Information for Student Financial Aid Applications on IRS.gov for the latest options.

In 2018, Some Tax Benefits Increase Slightly Due to Inflation Adjustments, Others Unchanged

start-business-tax-rulesThe Internal Revenue Service today announced the tax year 2018 annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2017-58 provides details about these annual adjustments. The tax year 2018 adjustments generally are used on tax returns filed in 2019. The tax items for tax year 2018 of greatest interest to most taxpayers include the following dollar amounts:

The standard deduction for married filing jointly rises to $13,000 for tax year 2018, up $300 from the prior year. For single taxpayers and married individuals filing separately, the standard deduction rises to $6,500 in 2018, up from $6,350 in 2017, and for heads of households, the standard deduction will be $9,550 for tax year 2018, up from $9,350 for tax year 2017.

Moving Expenses May Be Deductible

Tax Deduction Deductible IRS Jerry JonesTaxpayers may be able to deduct certain expenses of moving to a new home because they started or changed job locations. Use Form 3903, Moving Expenses, to claim the moving expense deduction when filing a federal tax return.

Home means the taxpayer’s main home. It does not include a seasonal home or other homes owned or kept up by the taxpayer or family members. Eligible taxpayers can deduct the reasonable expenses of moving household goods and personal effects and of traveling from the former home to the new home.

Reasonable expenses may include the cost of lodging while traveling to the new home. The unreimbursed cost of packing, shipping, storing and insuring household goods in transit may also be deductible.

Choose a Convenient IRS Payment Option

credit card payment tax payment jerry jonesIt’s never been easier to make a tax payment. You can pay online, by phone or with the IRS2Go app. You can view your options at IRS.gov/payments. The October 16 deadline for extension filers is near. If you need to pay your taxes, consider one of these payment options. 

With IRS Direct Pay, you can pay with your checking or savings account immediately or schedule your payment in one single online session that’s secure, easy and free. You can opt in to receive email notifications about your payment each time you submit a payment with Direct Pay.

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