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

Tax Security 2.0 – A ‘Taxes-Security-Together’ Checklist

IRS, Security Summit partners urge tax professionals to review their practices, enhance safeguards to protect taxpayer data

Leaders from the IRS, state tax agencies and the tax industry today called on tax professionals nationwide to take time this summer to review their current security practices, enhance safeguards where necessary and take steps to protect their businesses from global cybercriminal syndicates prowling the Internet.

Despite major progress by the IRS and the Security Summit partners against identity theft, evolving tactics continue to threaten the tax community and the sensitive data of taxpayers.
 
To help combat this, the Security Summit partners created a new “Taxes-Security-Together” Checklist to serve as a starting point for tax professionals. Beginning next week, the IRS and Summit partners will issue a series of five Tax Security 2.0 news releases highlighting “Taxes-Security-Together” Checklist action items.  

How to Report Self-Storage Income

Is a self-storage facility in the business of providing customers with a service or merely renting space?  The distinction is important for income taxes. In fact, those who answered “service” and whose self-storage facility is profitable, may need to file amended tax returns to recoup taxes paid.  

About Self-Employment Taxes

One of the distinctions between service and rental income is that rental income is not subject to self-employment taxes. Self-employment taxes include Social Security and Medicare taxes. The tax can be significant. The tax rate is 15.3 percent, but half of the tax is deductible.

Those who operate as sole proprietors or are taxed as partnerships are subject to self-employment taxes on income for services they provide. Rental income is not subject to self-employment tax. The distinction between a service and rental activity is not always clear. This is particularly true with self-storage, where some owners provide ancillary services in addition to renting space. Luckily, the courts have weighed in on this topic.

What are Robocalls and Scam Calls?

What spam is to email, robocalls are to your phone. They're annoying, automated, and often illegal pre-recorded messages. Cybercriminals use robocalls to steal information and money from victims.

 

As we’ve reported in a previous Malwarebytes blog, what spam is to email, a robocall is to telecommunications devices, such as home phones, mobile phones, and VoIP landlines. There is usually no real human behind a robocall, only an automated, pre-recorded message. And as the name suggests, the calls are made by computers.

Illegal robocalls generally contact recipients with the intention of stealing something from them. As such, they use scams, attempting to swindle you out of your contact number, your financial information, your identity, or anything else of value through dishonest means.

There is legislation that addresses robocalling and the scams they attempt to pull off. Just for good measure, here’s how The Telephone Consumer Protection Act of 1991 (TCPA) defines a robocall, also known as “voice broadcasting.” It is any telephone call that delivers a prerecorded message using an automatic (computerized) telephone dialing system, more commonly referred to as an automatic dialer or “autodialer.

When the call is answered, the autodialer either connects the call to a live person or plays a prerecorded message. Both are considered robocalls. Some robocalls use personalized audio messages to simulate an actual personal phone call.

Taxpayers Can Go to IRS.gov for Answers to Questions About Payments and Penalties

Questions about tax payments and penalties come up all year long. Taxpayers can find most answers to these questions on IRS.gov. They can head over to the Let Us Help You page, which features links that take users to information and resources on a wide range of topics related to penalties and payments.

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