Jerry Jones CPA
Wouldn’t it be nice to have a CPA that you deal directly with, that knows the Self Storage business, that works in all 50 states and is there for you when you need him?
Selecting a CPA goes far beyond a professional to prepare the tax return, or even to help with a little planning to reduce taxes. Jerry not only has the expertise and experience to meet and exceed the tax prep requirement, but goes far beyond with retirement planning and he advises in making business decisions that could have a tax impact in the future. What really sets Jerry apart from the crowd is that he not only has a lot of Self-Storage experience, but he cares about my business, and looks for ways to help me make MORE money. Anyone can find a CPA to spend money, but it is rare to find one that actually INCREASES my revenue…and then protects it from taxation! Jerry is a “keeper”!
RK Kliebenstein
Author “How to Make MORE Money in Self Storage”

IRS Launches 2017 Tax Tip Program

IRS Tax Tip program Jerry Jones CPA vacationWASHINGTON — More than 719,000 taxpayers received plain-language Tax Tips directly to their email inbox during this past tax filing season and got the information they needed to help them file their taxes.

Because taxes are year-round for many taxpayers, and many taxable situations arise during the summer months, the Internal Revenue Service offers a Tax Tip program that begins July 3. The IRS is encouraging taxpayers to sign up now for this email service to help them get a jump-start on their taxes and learn about the tax implications of events that often occur during the summer months.

CPR Self - Important Life Saving Read!

self-cpr-life-saving-Jerry-Jones-CPA-This comes from Dr. Patrick Teefy Cardiology Head at the Nuclear Medicine Institute University Hospital London Ontario.

Please take time to read this important message that might save your live or someone you know one day.

I hope everyone can send this on as it is really important for everyone to know!

  1. Let's say it's 7:25 pm and you're going home (alone of course) after an unusually hard day on the job.

  2. You're really tired, upset and frustrated.

IRS Cautions Taxpayers to Watch for Summertime Scams

Summertime-tax-scam-IRS-Jerry-Jones-CPAWASHINGTON – The Internal Revenue Service today issued a warning that tax-related scams continue across the nation even though the tax filing season has ended for most taxpayers. People should remain on alert to new and emerging schemes involving the tax system that continue to claim victims.

“We continue to urge people to watch out for new and evolving schemes this summer,” said IRS Commissioner John Koskinen. “Many of these are variations of a theme, involving fictitious tax bills and demands to pay by purchasing and transferring information involving a gift card or iTunes card. Taxpayers can avoid these and other tricky financial scams by taking a few minutes to review the tell-tale signs of these schemes.”

Guide to Expensing Roofing Costs

Roofing costs can be significant expenses for businesses. Tax practitioners should know how to distinguish between deductible repairs and more extensive work that must be capitalized.

By Eddie Price and Gian Pazzia

Tax-advice-Jerry-Jones-Roof-RepairEach year, tax professionals who deal with real estate must evaluate the most recent building expenditures and determine which items should be written off as a repair expense or capitalized. The most common, and often significant, item that is evaluated is roofing-related work. In many cases, only a portion of the roofing system is replaced, and depending on the facts, those costs may be deducted as repairs. When compared to the alternative option of depreciating the cost over a 27.5-year life for residential rental real estate or a 39-year life for commercial real estate under the modified accelerated cost recovery system, an incorrect conclusion may lead to a significant overpayment of tax liability.

Observation: For the tax professional who has only cryptic invoice descriptions and no direct knowledge of the roof work, assembling the facts and circumstances can be a challenge. The key to properly evaluating the character and nature of the work performed is having a basic understanding of roofing systems and asking insightful questions.

This guide to expensing roofing costs provides tax preparers an outline of questions to ask clients and includes tables to reference when evaluating roof repair costs.

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