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 completing my very complex tax returns for the past 10 years. He is an efficient, effective and highly competent CPA who returns great value for services performed. I highly recommend him to anyone seeking such expertise”.
Dennis F. Taxpayer

Co-signing a Student Loan is Serious Business, with Consequences

student loan blindsided parentDear Pete,

While establishing a home equity line, my wife and I discovered that my son had actually defaulted on two college loans that we were the cosigners on. We hadn't seen any correspondence from the bank in over a year, so we assumed he was current. Long story short, we couldn't close till these notes were paid. I called the lender and negotiated a payoff. We paid it, problem solved, so I thought. We just got two 1099C IRS filings from the lender. The lender NEVER mentioned to me during the negotiations that there would be a tax consequence. I assumed it was just a give and take negotiated settlement.

Is there anything I can do?

New Procedure Helps People Making IRA and Retirement Plan Rollovers

retirement application IRAWASHINGTON — The Internal Revenue Service today provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling these amounts into another retirement plan or individual retirement arrangement (IRA).

In Revenue Procedure 2016-47, posted today on IRS.gov, the IRS explained how eligible taxpayers, encountering a variety of mitigating circumstances, can qualify for a waiver of the 60-day time limit and avoid possible early distribution taxes. In addition, the revenue procedure includes a sample self-certification letter that a taxpayer can use to notify the administrator or trustee of the retirement plan or IRA receiving the rollover that they qualify for the waiver.

debt free Jerry JonesHow to Get Out of Debt: A Step-by-Step Guide to Financial Freedom

To get out of debt, you need a plan, and you need to execute that plan. But that can be easier said than done. It’s easy to become overwhelmed with all the steps you need to take. And it’s also easy to lose motivation if you don’t realize how much progress you’ve already made.

You’ll need to make all necessary adjustments to your budget along the way so you don’t overspend and slide back into debt. Plus, if you don’t have an emergency fund, consider setting some money aside in savings before you get started on your plan.

client identity theft cpa recovery smClient Identity Theft Checklist

Action Steps for Recovery

Identity theft is a complex and evolving threat, and one that costs U.S. citizens billions of dollars annually. Without question, it is one of the most pressing challenges facing our country. Unfortunately, the problem is growing, and fraudsters are always looking for new ways to steal confidential information to commit crimes. As your trusted adviser, Jerry understands your concerns with identity theft and takes every precaution to keep your personal information safe.

finance money investmentAnderson: Take Steps to Avoid Financial 'Regrets'

In life, we all have regrets, but some are costlier than others. When it comes to financial regrets, Americans seem quite specific about which ones are causing the most remorse. As someone with financial goals yourself, you might want to become familiar with these regrets, and consider some ideas for avoiding them.

Here are most common financial regrets, according to a recent survey by Bankrate.com:

Not saving for retirement early enough

Not surprisingly, this is the biggest regret expressed in the survey. It is unfortunate, but true, that many people are financially unprepared to retire. In fact, 52 percent of households 55 and older have not saved anything for retirement beyond their pensions, according to a study from the U.S. Government Accountability Office.

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