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?
Jerry has been our accountant since we started in the self storage business, some 20 years ago. I look to him as more than an accountant, but as a valuable business asset. He is continually suggesting new ways to reduce costs and improve profits. Also, he has developed some unconventional reports that are very helpful in evaluating our business on a day to day basis. I would recommend him to any self storage operator.
Dennis Geiler
SoCal Self Storage, Southern California

IRS warns of new phone scam using Taxpayer Advocate Service numbers

The Internal Revenue Service today warned the public about a new twist on the IRS impersonation phone scam whereby criminals fake calls from the Taxpayer Advocate Service (TAS), an independent organization within the IRS.

Similar to other IRS impersonation scams, thieves make unsolicited phone calls to their intended victims fraudulently claiming to be from the IRS. In this most recent scam variation, callers “spoof” the telephone number of the IRS Taxpayer Advocate Service office in Houston or Brooklyn. Calls may be ‘robo-calls’ that request a call back. Once the taxpayer returns the call, the con artist requests personal information, including Social Security number or individual taxpayer identification number (ITIN).

TAS can help protect your taxpayer rights. TAS can help if you need assistance resolving an IRS problem, if your problem is causing financial difficulty, or if you believe an IRS system or procedure isn’t working as it should. TAS does not initiate calls to taxpayers “out of the blue.” Typically, a taxpayer would contact TAS for help first, and only then would TAS reach out to the taxpayer.

Did You Miss These 7 Credits and Deductions?

Americans love tax breaks.

In the past, everybody knew they could deduct mortgage interest, medical expenses over a certain amount, gifts to charity — even the cost of preparing their tax return.

However, federal tax reform means some deductions have now disappeared. Others aren’t as valuable, thanks to an increased standard deduction that makes it less attractive to itemize. Those new standard deduction amounts are:

  • $12,000 for single taxpayers and married taxpayers who file separate returns
  • $24,000 for married couples filing jointly
  • $18,000 for taxpayers filing as “head of household”

Nonetheless, here are some credits and deductions you should not overlook. Some save you money if you itemize, but others are available even if you do not.

IRS to waive penalties for under-withholding after Trump tax changes

The Internal Revenue Service will waive penalties against taxpayers who withheld too little of their pay last year because they were uncertain how President Donald Trump's tax cuts would affect them, officials said Wednesday. 

The Trump administration said it expected 90 percent of taxpayers to owe less income tax under the Tax Cuts and Jobs Act of 2017. Most taxpayers have already seen the benefits, as employers withhold less money from their paychecks.

But some might have withheld too little. Some taxpayers – particularly those who already pay higher state and local taxes – could end up owing more when they file their returns in April.

6 Tax Missteps That Will Get You Audited

Nobody wants an IRS tax agent knocking at the door and asking for a shoebox full of receipts. Unfortunately, there’s no surefire way to avoid an audit of your tax returns. 

However, you can sharply reduce the odds of an IRS inquiry by avoiding some common mistakes when filing your taxes. Here are seven that should be on your radar.

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