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?
“Jerry has been my CPA for several years now. When I came to Jerry I had a previous CPA that was not giving me the guidance needed. Jerry’s depth of business knowledge and experience in dealing with the IRS has been invaluable. My businesses are now organized properly and run very smoothly from a tax and accounting standpoint”.
Gary & Kathy D., Owner, WMAC, LLC

Proposed Regulatory Changes to Valuation Discounts for Family Partnerships and Family Businesses

The Treasury Department continues to state that Regulations will be issued shortly to curtail the use of valuation discounts for transfers of property among family members.

Valuation discounts are a major tax planning tool to reduce and eliminate federal estate and gift taxes. Clients have used valuation discounts to transfer substantial amounts of their wealth tax-free from one generation level to the next. Discounts for lack of marketability (meaning the inability to quickly sell or monetize an asset) and for a minority interest (meaning the inability to control the entity’s asset’s distributions, the timing of the distributions and the management of the entity’s assets) have enabled clients to discount the values of gifts to family members and to discount an estate’s value at the client’s death. Valuation discounts have generally ranged between 25% to 55% of the entity’s underlying property’s value, depending on various factors.

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Health Care Tax Credit for Small Businesses: What you need to know!

Get to Know the Small Business Health Care Tax Credit

IRS Health Care Tax Tip 2015-38, July 1, 2015

If you are a small employer, you might be eligible for the Small Business Health Care Tax Credit, which can make a difference for your business.

To be eligible for the credit, you must:

Free Cyber Security Seminar, Reno 2/5/14

The free seminar presented by the Cyber Security Group will focus on educating small to mid-size businesses on cyber threats and defenses. Included in the seminar will be Top Speed’s Marie Kissinger discussing examples of malware currently being used by criminals, including CryptoLocker which has been causing havoc around the world for the last several months. To register for this Free Event use this link. RSVP’s are not required, but would be greatly appreciated.

Cyber Security Group, Inc.
140 Washington St
Reno, NV 89503

Wednesday, February 5, 2014 from 8:30 AM to 9:30 AM (PST)

5 Ways to Transfer the Family Business

by Jason C. Morris, Esq. 

The following article on business succession planning appeared in the February 10, 2014 issue of Northern Nevada Business Weekly:

As a business owner, you will have to decide when will be the right time to step out of the family business and how you will accomplish a successful transition. There are many estate planning tools you can use to transfer your business. Selecting the right tool will depend on whether you plan to retire from the business or keep it until you die.

The transfer can be an emotional minefield where some family members are participants in the business and others are non-participants.  Those participants may feel “obligated” to stay in the family business when they would rather do something else.  In addition, the transfer can be complicated due to estate taxes, gift taxes and capital gains taxes.

Moreover, sometimes the family business is only profitable enough to support one child, even though the non-participants may believe the business’ finances should support them. Or, only some or none of your children may have the abilities or skills to run the business.

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CryptoLocker Ransomware and the Importance of a True Enterprise Backup

By Top Speed Computer Services

Virus and malware infections have been on the rise this year, with our techs having seen the most infected machines ever in the last few months. We’re no longer talking about malicious items in the hundreds, we’re now seeing numbers in the thousands on a single computer.

Just when many people are being overwhelmed with the amount of viruses and malware on the Internet in September a new ransomware named CryptoLocker was discovered.

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