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?
In addition to being the best tax advisor I have had the pleasure of working with, Jerry is first and foremost a wonderful person. Building my first storage facility and being a rookie to the industry, I was nervous on what I could expect in my first year of development. With all of the ups and downs of this first year all I can say is I had absolutely no worries when it came to the the most important part of our business - the numbers. Jerry Jones took the time to answer every question or concern we had when going though this process. If you are in the storage business give yourself a leg up and apply Jerry’s experience and expertise of this expanding and ever changing industry. You will be thankful you did.
Bill Pederson
Lock it and Leave it storage

IRS launches new easy-to-use web pages to help all taxpayers understand tax reform

 

With an updated tax reform section and frequent updates, the IRS website should be the first stop for taxpayers looking for information about how tax reform legislation – the Tax Cuts and Jobs Act – affects their taxes. Here are some facts about these new easy-to-read, easy-to-use pages and what taxpayers can find on them:

Taxpayers scramble as proposed IRS rule on local taxes wrecks workaround strategy

The clock is ticking for taxpayers who want to contribute to state tax credit programs and nab a charitable deduction to boot on their federal return.

The IRS and Treasury's newly released proposed regulations block blue state attempts to bypass the new $10,000 limit on state and local tax deductions, also known as SALT.

This limit was imposed by the Tax Cuts and Jobs Act, an overhaul of the tax code that was passed last year.

Though the new guidance from Treasury and the IRS is a proposal at this point, it has an effective date of Aug. 27 and is intended to apply to transactions made after then.

IRS Urges Taxpayers with High Income, Complex Returns to Check Withholding

The IRS urges high-income taxpayers and those with complex tax returns to complete a “paycheck checkup.” Doing so will help them see if they are having the correct amount of taxes withheld from their paychecks for the rest of this year. The IRS Withholding Calculator and Publication 505, Tax Withholding and Estimated Tax, can help these taxpayers do their checkup. The Tax Cuts and Jobs Act, which was passed last year, brought many tax law changes. With that in mind, a checkup is important for taxpayers with high incomes and complex returns because they are often affected by more of these changes than someone with a simpler return.

IRS to introduce new tax transcript to better protect taxpayer data

WASHINGTON – Moving to better protect taxpayer data, the Internal Revenue Service today announced a new format for individual tax transcripts that will redact personally identifiable information from the Form 1040 series.

This new transcript replaces the previous format and will be the default format available via Get Transcript Online, Get Transcript by Mail or the Transcript Delivery System for tax professionals as of September 23. Financial entries will remain visible, which will give taxpayers and third-parties the data they need for tax preparation or income verification.

Additionally, based on stakeholder feedback, the IRS also has created a new Customer File Number that lenders, colleges and other third parties that order transcripts for non-tax purposes can use as an identifying number instead of the taxpayer’s SSN.

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