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

Estate Litigation to Rise in 2018, LeClairRyan Attorney Predicts

estate-litigation-cpa-adviceWILLIAMSBURG, Va., Feb. 13, 2018 /PRNewswire/ -- As baby boomers continue to age, the pace of estate litigation is accelerating, according to Will Sleeth, a partner in national law firm LeClairRyan's Williamsburg office and leader of the firm's Estate and Trust Litigation team.

"Changes in the federal estate tax have grabbed many of the headlines, but I expect four other estate litigation trends will move to the forefront in 2018," says Sleeth, who highlights some likely developments in a blog, 4 Estate Litigation Predictions For 2018.

Estate Litigation Volume: "We are very likely to see an increase in the volume of estate litigation in 2018," writes Sleeth in the post that appears in the firm's Estate Conflicts blog, which focuses on disputes involving wills, trusts, guardianships, and celebrity estates. One reason is the aging of our society; and with more money being passed down, "there's much more to fight over than at any time in the past," he observes.

How the new tax law changes Roth IRA conversions

 

By Ed Slott

The new tax law signed in December may affect the way you and your clients evaluate the pros and cons of Roth conversions.

Among the biggest changes: Beginning in 2018, Roth conversions cannot be undone. Lawmakers repealed Roth recharacterizations, which previously enabled Roth conversions to be reversed.

"Overall, I believe we have hit rock bottom for tax rates, making today's Roth conversions even more valuable for clients in retirement."

Consequently, the discussion around Roth conversions will immediately need to change. Clients will require more advice, and their advisors will need to conduct more careful analysis before making any recommendations.

Here are how some of the benefits and drawbacks of Roth conversions have changed under the new tax law.

National Tax Security Awareness Week No. 2: Don’t Take the Bait; Avoid Phishing Emails by Data Thieves

avoid phishing data thieves Jerry jones cpaWith the approach of the holidays and the 2018 filing season, the IRS, state tax agencies and the nation’s tax industry urge people to be on the lookout for new, sophisticated email phishing scams that could endanger their personal information and next year’s tax refund.

The most common way for cybercriminals to steal bank account information, passwords, credit cards or Social Security numbers is to simply ask for them. Every day, people fall victim to phishing scams that cost them their time and their money.

Those emails urgently warning users to update their online financial accounts – they’re fake. That email directing users to download a document from a cloud-storage provider? Fake. Those other emails suggesting the recipients have a $64 tax refund waiting at the IRS or that the IRS needs information about insurance policies – also fake. So are many new and evolving variations of these schemes.

I.R.S. Says It Will Reject Tax Returns that Lack Health Insurance Disclosure

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By Reen Aberlson

Despite President Trump’s pronouncements, not only is Obamacare not dead, there are signs that his administration is keeping it alive.

In the latest signal that the Affordable Care Act is still law, the Internal Revenue Service said this week that it is taking steps to enforce the most controversial provision: the tax penalty people face if they refuse to obtain health insurance.

You paid off that debt — or did you?

debt fixed jerry jonesYou buy a washing machine on credit and make the loan payments until the debt is paid off. Then you receive a call from someone claiming to be a debt collector for the appliance store. The caller alleges that you still owe a hefty balance on your loan. When you insist you've paid the loan in full, you're bullied and harassed. The caller says if you don't pay up, you'll be charged additional interest and might even be thrown in jail.

Is the call legitimate? Or is this a scam? Three red flags can help you determine the answer.

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