Jesse Raynor, Tax & Consulting, Inc

Jesse Raynor, Tax & Consulting, Inc Jesse Raynor, Tax & Consulting, Inc is licensed in ID and specializes in Business Consulting.

Do you use a vehicle for business purposes? You may be able to deduct related expenses using one of two methods: the sta...
09/09/2025

Do you use a vehicle for business purposes? You may be able to deduct related expenses using one of two methods: the standard mileage rate or the actual expense method. The standard mileage rate offers simplicity: You just multiply business miles driven by the IRS rate, which is 70 cents per mile in 2025. Prefer tracking every cost? Use the actual method to deduct gas, oil, maintenance, insurance and more. Choose the method that saves you the most time and money! Contact us at (208) 290-8061 to help decide what's best for your situation.

Running a business is complex. We can make it simpler. Our team offers full-service accounting, bookkeeping, tax and adv...
09/08/2025

Running a business is complex. We can make it simpler. Our team offers full-service accounting, bookkeeping, tax and advisory services tailored to your business goals. Whether you're launching a startup or scaling an established company, we can help you plan strategically. Contact us at (208) 290-8061 to learn how we can be a partner in your success and provide you financial peace of mind.

The IRS is warning of an increase in scams targeting older adults. These scams are designed to deceive or scare vulnerab...
09/05/2025

The IRS is warning of an increase in scams targeting older adults. These scams are designed to deceive or scare vulnerable individuals into paying fake penalties, ransoms or revealing personal information. Tactics range from bogus prize notifications to impersonating IRS agents, police or other government officials. Scammers typically make contact via phone, text or email, often with a false sense of urgency. As part of the World Elder Abuse Awareness Day, the IRS recently expanded its efforts to help seniors identify red flags and avoid becoming victims. Contact us at (208) 290-8061 if you’re unsure if a message is legitimate. To learn more about these threats and how to protect yourself or a loved one, visit the IRS here: https://bit.ly/3Xrj66J

Few estate planning subjects are as misunderstood as probate. It’s a legal procedure in which a court establishes the va...
09/03/2025

Few estate planning subjects are as misunderstood as probate. It’s a legal procedure in which a court establishes the validity of your will, determines the value of your estate, resolves creditors’ claims, provides for the payment of taxes and other debts, and transfers assets to your heirs. Depending on applicable state law, probate can be expensive and time consuming. There are strategies to avoid (or minimize) probate. For smaller estates, title assets in a manner that allows them to be transferred directly to your beneficiaries outside your will. Contact us at (208) 290-8061 with questions.

If you itemize deductions and your unreimbursed medical expenses exceed 7.5% of your adjusted gross income, you can dedu...
09/02/2025

If you itemize deductions and your unreimbursed medical expenses exceed 7.5% of your adjusted gross income, you can deduct the amount exceeding that “floor.” But many people don’t itemize, and the floor can be difficult to exceed. Fortunately, there may be another way for you to save taxes in relation to health care costs: Contributing to an HSA or an FSA. Wondering how you can maximize your tax savings? Call us at (208) 290-8061.

Struggling with tax debt? An Offer in Compromise (OIC) might be the solution if you’re eligible. The IRS allows qualifie...
09/01/2025

Struggling with tax debt? An Offer in Compromise (OIC) might be the solution if you’re eligible. The IRS allows qualified taxpayers to settle their debt for less than the full amount owed. If you're facing financial hardship, an OIC can help you get back on track while avoiding overwhelming penalties. The process requires proper documentation, negotiation and a $205 nonrefundable application fee. Be aware that most offers aren’t accepted. But in the right situation, it can significantly reduce an individual’s tax burden. Contact us at (208) 290-8061 to see if you’re a candidate.

If the IRS has a question about your tax return, hasn’t received a payment due or has made adjustments to something you’...
08/29/2025

If the IRS has a question about your tax return, hasn’t received a payment due or has made adjustments to something you’ve filed, it will notify you with a letter or notice sent via the USPS. The letter will provide instructions on how to respond, which might include sending copies of records the IRS requires. But what if you disagree with the tax agency’s assessment of a situation? Follow the instructions included in the notice and keep copies of everything you mail to the IRS for up to three years. You can also contact us at (208) 290-8061 for help with any tax dispute.

Proper payroll recordkeeping is critical for every business to ensure tax compliance and guard against litigation. Most ...
08/27/2025

Proper payroll recordkeeping is critical for every business to ensure tax compliance and guard against litigation. Most companies must keep information regarding federal income, Social Security and Medicare taxes for at least four years after the due date of an employee’s personal income tax return for the year in which the payment was made. This is known as the “records-in-general” rule, and various data and documents fall under it. Contact us at (208) 290-8061 to schedule a review of your payroll recordkeeping processes today!

The IRS generally follows strict collection processes but acknowledges that some people face real hardships. In such cas...
08/26/2025

The IRS generally follows strict collection processes but acknowledges that some people face real hardships. In such cases, the IRS may assign a tax debt to “currently not collectible” status until the debtor’s financial condition improves. While the debt remains unpaid, the total will continue to rise due to penalties and interest. Also, a federal tax lien may be filed, giving the government an interest in the individual’s assets. The IRS doesn’t grant this status lightly. It demands extensive financial proof, which can feel like an uphill climb. Contact us for help with tax debt at (208) 290-8061.

Having the right estate planning documents in place gives you peace of mind and provides clarity for your loved ones dur...
08/25/2025

Having the right estate planning documents in place gives you peace of mind and provides clarity for your loved ones during difficult times. That should start with a will, which designates who receives your assets and who becomes guardian of your minor children. Without it, state law decides. Also, consider a financial power of attorney and a medical power of attorney. They authorize someone to handle financial matters on your behalf if you’re unable to do so and make medical decisions for you if you’re incapacitated. Contact us at (208) 290-8061 with questions.

Are you betting money on professional or college sports? If so, you aren’t alone. According to the IRS, billions of doll...
08/22/2025

Are you betting money on professional or college sports? If so, you aren’t alone. According to the IRS, billions of dollars are bet by “casual gamblers,” who aren’t in the business of wagering. If you win, congratulations. Not to rain on your parade, but Uncle Sam generally wants his share. You might receive a Form W-2G (Certain Gambling Winnings) depending on what you bet on and how much you win. All winnings must be reported on your tax return. You have until next year to report the money you win in 2025. You may need to pay estimated tax on the additional income. Contact us at (208) 290-8061 with questions.

Fraud can drain your company’s assets and erode its value, often before you realize it’s happening. Protect your busines...
08/20/2025

Fraud can drain your company’s assets and erode its value, often before you realize it’s happening. Protect your business with strong internal controls, such as segregation of duties. This means dividing key responsibilities among different individuals. Take the petty cash drawer: One employee should authorize disbursements, another should have custody of the drawer and dispense cash, and a third should record and reconcile the transactions. These built-in checks can reduce the risk of any one person committing fraud. Need help reviewing your internal processes? Call us at (208) 290-8061.

Address

420 N 2nd Avenue STE 107
Sandpoint, ID
83864

Opening Hours

Monday 9am - 5am
Tuesday 9am - 5am
Wednesday 9am - 5am
Thursday 9am - 5am
Friday 9am - 5am

Telephone

+12082908061

Website

Alerts

Be the first to know and let us send you an email when Jesse Raynor, Tax & Consulting, Inc posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Practice

Send a message to Jesse Raynor, Tax & Consulting, Inc:

Shortcuts

Share

Share on Facebook Share on Twitter Share on LinkedIn
Share on Pinterest Share on Reddit Share via Email
Share on WhatsApp Share on Instagram Share on Telegram