McKinley Jones & Associates LLC

The IRS often sees the transfer of funds as a loan, whether there is a loan agreement or not. This also means there is an implied term and interest payment. When the IRS says a transaction is a loan, what interest rate do they use? Enter AFRs. Here is what you need to know.

Understanding Tax Terms: AFRs

As tax season gets underway, here are several new business-related tax provisions that could help cut your tax bill in 2020. Also read about the pros and cons about starting a business with a friend.

Tax & Business Newsletter: February 2021 Tax filing season is officially underway! In this month’s newsletter, read about several new business-related tax provisions that could help cut your tax bill in 2020. Also read about several questions to ask yourself if you’re considering starting a business with a friend. Please call i...

There are a few areas within the tax code that can cause an unpleasant surprise when encountered. Thankfully they do not happen too often. Here are six you should know about.

Oops! I Wish I Knew That.

After a long pilot program, the IRS is making its identity theft PIN program available to all taxpayers. Here is what you need to know.

IRS Identity Theft Program NOW OPEN! - New one-time use PIN option available for all

Learn about a new tool to protect your tax return from would-be thieves. Plus find out how you are giving away the most valuable thing you own!

Client Update Newsletter: February 2021 As the tax filing season gets underway, now is a great time to review some tips to help ensure your tax return is processed without a delay. Also included are reminders of some surprising tax situations this year because of the pandemic. For small businesses there are some organizational hints that....

So many 1099's. How do you keep them all straight? Here is a quick review of the most common 1099's to help you prepare to file your tax return.

Alert: Look for New 1099 NEC - Your 1099's are coming soon

Be on your guard as the IRS identity theft season starts in late January. Here's what you need to know.

IRS Identity Theft Season Begins Now

A recent voter initiative in California overrules the state's desire to make all Uber and Lyft drivers employees. This puts a spotlight on all workers to know the difference.

Are You a Contractor or Employee? - Knowing the difference is very important

Plan now to make your 4th quarter estimated tax payment.

Reminder: Fourth Quarter Estimated Taxes Now Due - Now is the time to make your estimated tax payment

More stimulus payments are on the way! Also ready about the latest PPP loan update, find out how much you can contribute to your retirement fund in 2021 and see Uncle Sam's New Year's resolutions.

Client Update Newsletter: January 2021 Happy New Year! The new year begins with more stimulus payments and other financial assistance courtesy of the latest COVID relief legislation. Read about how the new bill affects your tax and financial outlook. Also in this month's edition is good news for business owners regarding the tax deductib...

Here are the standard mileage rates for 2021.

2021 Mileage Rates are Here! - New mileage rates announced by the IRS

Are you capturing all the tax benefits built into homeownership? Here are the most common.

Your Home. A Bundle of Tax Benefits.