Payroll Tax reduction is temporary and silly

The extension of the social security FICA tax cut to February 2012 adds to the complexity and additional work of taxpayers. A two-month only extension of the cut would mean that the IRS would need to revise 2012 Forms 941, Employer’s Quarterly Federal Tax Return, to take into account the 2% difference in employee Social […]

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IRS Tax Notice – 1099s

Have you ever received an IRS notice? We have been successful in avoiding IRS audit tax assessments because we insist that our client’s get us the actual 1099 forms and by asking for key information. During the busy tax season, how do we remember to get the 1099 and other key support?  We use the […]

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Year End Tax Savings Tip for Your Cash Basis Business

No what your taxable income is as of a specific date. Prepare your personal tax plan or have us help you prepare your customized tax plan. Compute how much that cash disbursements (from 100% deductible expenses) must exceed cash receipts (from income). Come up with an amount that expenses must exceed income to get into […]

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Car mileage rates for 2012, 2011 and 2010

IRS Announces 2012 Standard Mileage Rates, Most Rates Are the Same as in July IR-2011-116, Dec. 9, 2011 WASHINGTON — The Internal Revenue Service today issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2012, the […]

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Arizona AZ Tax Credits, Save Taxes for 2011

Arizona AZ tax credits and save taxes for 2011 on charity while protecting you against an IRS audit! 2 Easy ways!! If you are married, you can write checks or use your credit cards to get $2,200 in Arizona AZ tax credits while saving up to $830 in income taxes! $1,000 for private school, $400 […]

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Should I contribute to a ROTH IRA?

The answer is “YES” if: You are in the lower tax brackets such as the 15% tax rate. You expect to be in a higher tax rate when you pull the money out. Your child works in your business and you want to fund your child’s college education. You do not want to have to […]

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CPA Advice in Scottsdale: Can I write off my worthless partnership Investment?

Can I write off my worthless partnership Investment? The write off of “worthless” partnership interests are very intricate. What are the key questions my CPA should ask me? Am I being relieved of any debt whether it is debt that I have guaranteed or real estate that the partnership has guaranteed on my behalf? Do […]

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Tax Tips: Avoid an IRS Audit

IRS AUDIT LANDMINES TO AVOID Here is a copy of an email I sent to a doctor who was using another CPA firm: The business tax returns were “riddled” with IRS “red audit flag risk dangers”.  S corporation profit was too high compared to your payroll from the dental practice. This is the #1 IRS […]

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Inherited IRA … Do I have to pay tax on the IRA this year?

If you are spouse and your spouse died before 70.5 years of age, you can either use the Five-Year rule or use the life expectancy from the Single Life Table: http://www.irs.gov/pub/irs-pdf/p590.pdf Five Star idea: The Required Minimum Distribution can be postponed until the year your spouse would have attained age 70.5 years. Living Spouses can […]

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Welcome to JBrooks Wealth Advisors.

We are currently under construction, but please come back and visit to see all of the CPA Services we offer in Phoenix, AZ. Some of the services include: Tax Preparation, Tax Planning & Tax Returns. We also specialze in the following industries: Doctor offices, Dental offices, Lawyer offices & Restaurants Click here to contact us […]

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About Jeffrey Brooks

Jeffrey Brooks, CPA, CFP, MBA since 1976 has specialized in helping clients save significant taxes, help businesses increase their cash flow, revenues and profits while increasing their control and satisfaction. Jeff and his accounting firm sincerely cares about the happiness of his clients.

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JBrooks Wealth Advisors, PC.

Certified Public Accountant
Address: 4647 N 32nd Street, Suite B245
Phoenix, Arizona 85018
Phone: 602-292-2009
Email: jeff@jbrookswa.com