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?
“For more than 30 years I have relied on Jerry to provide me with critical guidance for both investment decisions and tax strategies. His opinions have been crucial in helping me make the best possible business decisions, as well as providing me with sound advice regarding personal tax planning”.
Steve T., Taxpayer

2012 Summary of Taxpayer Relief Act

This brochure provides a summary of the American Taxpayer Relief Act of 2012 (ATRA), which was passed by Congress on January 1, 2013. The changes to the law became effective on January 1, 2013 and are "permanent," as there are no sunset provisions in ATRA.

2013 Individual Income Taxation1

ATRA permanently extended the 10%, 15%, 25%, 28% and 33% brackets but the 35% bracket is increased to 39.6% for the highest income taxpayers. Also, the capital gains and dividend tax rates of 9% and 15% tax rates were extended for most taxpayers, but were increased to 20% for the highest income individuals, as follows:

Set Up Your IRS Payment Agreement Online

Paying your taxes in full and on time avoids unnecessary penalties and interest. But if you can’t pay the full amount, here’s an option. You can request a payment agreement. And if you owe $50,000 or less in individual income taxes and can pay the full amount within 72 months, you can request a payment agreement online.

There’s no need to call or write the IRS because you make the request directly from your computer. It’s easy, and your personal information is safe and secure. You will get immediate notice of whether the request is approved. And you can even set up a direct debit account which means there are no checks to write and mail and no missed payments that could lead to additional penalties.

Home Office Deduction Rules Get a Remodel

If you run a business out of your home, it's important to understand the associated federal income tax deductions that you might be entitled to. That's especially true this year, with new rules that make it easier than ever for some to claim a deduction.

What's a home office?

A home office is generally a room in your home, a portion of a room in your home, or a separate building next to your home (such as a converted garage or barn) that you use to conduct business activities. In order to deduct associated expenses, though, certain requirements apply.

Basic requirements

Your home office must be used regularly and exclusively as your principal place of business, or as a place where you meet or deal with clients, patients, or customers, in the normal course of your business. If you have a business outside your home, but conduct substantial administrative and management tasks for your business at home (e.g., billing clients, keeping books and records) you may qualify, provided that you have no other fixed location where you could conduct these activities.

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