J Lunsford CPA

J Lunsford CPA Tax & Accounting Services - Serving the Kennesaw/Acworth area for over 18 years.

Medical expenses are on the rise. Here are some smart ideas for saving tax dollars on those medical bills.
09/16/2022

Medical expenses are on the rise. Here are some smart ideas for saving tax dollars on those medical bills.

Medical expenses are on the rise. If you know your options and plan accordingly, there are ways to save tax dollars on those medical bills.

Here's another tax credit, but one few will ever see. Look before you buy. Read on.
09/09/2022

Here's another tax credit, but one few will ever see. Look before you buy. Read on.

Think you will get the new electric vehicle credit beginning in 2023? Think again. Here is what you need to know.

New energy credit details and understanding the financial landmine if your car is ever totaled by insurance lead this mo...
09/07/2022

New energy credit details and understanding the financial landmine if your car is ever totaled by insurance lead this month's newsletter. Read on!

This month's newsletter recaps the details of the revamped electric vehicle tax credit and other energy credits in newly passed legislation. Also included this month are some tips to review your recurring monthly bills that seem to automatically creep up. And there is a revealing article on a financ...

Reminder: 3Q estimated taxes are due Thursday, September 15. Here are some things to consider.
09/02/2022

Reminder: 3Q estimated taxes are due Thursday, September 15. Here are some things to consider.

If you have not already done so, please plan to make your third quarter estimated tax payment. The due date is Thursday, September 15th.

The IRS requires contemporaneous records to prove deductions and credits. That means you can't go back later to get a co...
08/26/2022

The IRS requires contemporaneous records to prove deductions and credits. That means you can't go back later to get a copy of a receipt you forgot. Here are some tips.

The Internal Revenue Service has a vocabulary of their own. One of the more important is their use of the word contemporaneous. What does it mean, and why should you care?

The IRS audit rates are still at historic lows, but all that is now starting to change. Here is what you need to know.
08/19/2022

The IRS audit rates are still at historic lows, but all that is now starting to change. Here is what you need to know.

The IRS reported audit rates are the their lowest in decades. But don't get complacent. A closer look at the IRS data release reveals a change in that trend.

Hobby verus business? If you want to deduct expenses, you need to know these rules.
08/12/2022

Hobby verus business? If you want to deduct expenses, you need to know these rules.

The old and fast rules to determine whether your business activity is deemed a hobby in the eyes of the IRS have been replaced by guidelines. Here is what you need to know as you wrap up your business year.

Before school gets going this fall, check out these school expenses that might help you decrease your tax bill.
08/05/2022

Before school gets going this fall, check out these school expenses that might help you decrease your tax bill.

Time to buy school supplies? Pay for field trips? Is any of this tax deductible? Here are some ideas to find a tax break in the back to school rush.

Hobbies cannot deduct expenses per the IRS, outline here are ways to avoid this problem. There are also five great ideas...
08/03/2022

Hobbies cannot deduct expenses per the IRS, outline here are ways to avoid this problem. There are also five great ideas to take advantages of IRAs. Plus much more!

Welcome to the last month of traditional summer vacation! And what better way to lead the final month of summer vacation by outlining ideas to save money while taking that long-deserved break. This month's letter includes a review of five ways to take advantage of IRA accounts to reduce your tax bur...

Commonly overlooked tax deductions that everyone should know.
07/29/2022

Commonly overlooked tax deductions that everyone should know.

The tax code is about 75,000 pages long, so it's not surprising there are many overlooked money-saving deductions hidden within it. Check out these great ideas to lower your tax.

Time to plan for new contribution levels for your health savings account. Find the 2023 limits here.
07/22/2022

Time to plan for new contribution levels for your health savings account. Find the 2023 limits here.

Contribution limits for the ever-popular health savings account (HSA) are set for 2023. The new limits increase the amounts you can save and then use to pay for qualified medical expenses with pre-tax dollars.

Underreported income and math errors are key mistakes that can trigger an audit from the IRS. Having your taxes prepared...
07/15/2022

Underreported income and math errors are key mistakes that can trigger an audit from the IRS. Having your taxes prepared by a professional can significantly reduce this risk.

The IRS is constantly looking for a reason to audit you. There are several red flags that can identify your tax return as one that needs additional attention. Knowing these indicators can help you avoid the unwanted scrutiny.

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2255 Lewis Street NW
Kennesaw, GA
30144

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Monday 9am - 4pm
Tuesday 9am - 4pm
Wednesday 9am - 4pm
Thursday 9am - 4pm
Friday 9am - 4pm

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