Jarrard, Nowell & Russell names James Boswell staff accountant

 Charleston, S.C. – James Boswell has joined Jarrard, Nowell & Russell, LLC (JNR), a Charleston-based accounting and business advisory firm, as staff accountant.   Working out of the firm’s downtown office, Boswell prepares tax returns, assists with audits, researches tax issues, and performs monthly bookkeeping services for clients. He previously worked as the night auditor…

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What to Do If You Are Missing Important Tax Forms

If you are ready to file your taxes but are missing important tax forms here’s what you should do: Form W-2 You should receive a Form W-2, Wage and Tax Statement, from each of your employers for use in preparing your federal tax return. Employers must furnish this record of 2019 earnings and withheld taxes…

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Will Russell to serve as treasurer/secretary of SCCIA board

    Charleston, S.C. – William A. Russell, III, CPA and partner with Jarrard, Nowell & Russell, LLC (JNR), a Charleston-based accounting and business advisory firm, has been elected to serve a three-year term as treasurer and corporate secretary on the South Carolina Captive Insurance Agency (SCCIA) board.   Russell, who began his career as…

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Tips for Taxpayers Who Make Money From a Hobby

Many people enjoy hobbies that are also a source of income. From soap making and pottery to calligraphy and designing jewelry, these activities can be sources of both fun and finances. However, taxpayers who make money from a hobby should know that they must report that income on their tax return. Generally, if someone has…

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Paige Catherine Haines joins Jarrard, Nowell & Russell

Charleston, S.C. – Jarrard, Nowell & Russell, LLC (JNR), a Charleston-based accounting and business advisory firm, has added Paige Catherine Haines as a bookkeeper in the N. Charleston office. In this role, Haines is responsible for recording all financial cost transactions and income, as well as analyzing and summarizing account information for clients in order…

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2020 Tax Withholding: the new Form W-4

The redesigned Form W-4 makes it easier for withholding to match tax liability. While it uses the same underlying information as the old design, it replaces complicated worksheets with more straightforward questions that make accurate withholding easier for employees. Here’s what taxpayers should know about the new Form W-4 for 2020: Five Steps The form…

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Tax Filing Season Begins

Another New Design for Form 1040 The new 2019 Form 1040, which was redesigned last year to be “postcard-sized” has been revised yet again. As with last year’s design, the form gathers information about the taxpayer(s) and dependents. It is also the form you need to sign and date when filing your return. New for…

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Important Tax Changes for Individuals and Businesses

Every year, it’s a sure bet that there will be changes to current tax law and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan the year ahead. Individuals In 2020, a number of tax provisions are affected…

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Tax Breaks for Taxpayers Who Itemize

1. Deducting state and local income, sales and property taxes. The deduction that taxpayers can claim for state and local income, sales and property taxes is limited to a combined, total deduction of $10,000 – $5,000 if married filing separately. State and local taxes paid above this amount can’t be deducted. 2. Refinancing a home.…

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Starting a Home-Based Business

More than half of all businesses today are home-based. Every day, people are striking out and achieving economic and creative independence by turning their skills into dollars. Garages, basements, and attics are being transformed into the corporate headquarters of the newest entrepreneurs – home-based business people. And with technological advances in smartphones, tablets, and iPads…

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