James Financial Services Inc

Tax Preparer
Virginia Beach Virginia 23462

757-490-7700 Click to dial

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We save our clients thousands of dollars in taxes and financial expenses

Contact Details

  • Business
  • James Financial Services Inc
  • Year Established:
  • 1984
  • Online Social Profiles
  • Phone Number
  • 757-490-7700
  • Location
  • 152 Newtown Road Suite 102
    Virginia Beach, VA 23462
    United States of America

Professional Background

  • Hours of Operation
  • Monday through Friday, 9:00 AM 'til 6:00 PM
    Saturday, January through April, 10:00 AM 'til 2:00 PM
  • Accepted Forms of Payments
  • Cash, checks, and credit cards
  • Fee Structure
  • Individual returns are billed by forms required
    Other returns and services are billed by complexity and value
  • Credentials
  • B H James MBA, EA, ATP
    S S James CPA
    B J Payne EA Candidate

James Financial Services Inc Recommendations


James Financial Services Inc Member Articles


What is the difference Between a Hard and Soft Credit Inquiry?

While a credit score does not give the real picture of our credit history, it offers creditors, landlords and lenders an idea of our financial management skills. This article will...


Critical Tax Considerations for all Divorcing Couples

Divorce is a nightmare and messy process that people try to do away with as soon as possible. They hardly consider consequences on taxes, especially in the long run. Most times, it...


Two Important Questions to be Addressed in the "Global Tax Reform."

After years of debate, leaders from more than 130 countries are moving quickly to agree on key changes to international tax rules, possibly by the summer. These changes would force...


What Happens if You Work Part-Time While Receiving Social Security?

Choosing a part-time retired job is an easy way to improve your retirement lifestyle. But before you start a retired job, we recommend that you check the numbers to see how your Social...


What is the 4% Rule?

The 4% rule is a common rule in retirement planning to help you avoid running out of money during retirement. It is said that you can comfortably withdraw 4% of your savings in the...


Essential Questions to Ask Your Tax Preparer

While many tax preparers are claiming to be perfect and ideal for you, it is essential to scrutinize them to get the ideal preparer for your needs. Tax preparers differ, and the best...


Offshore Account: When Is Having One Illegal?

Many American citizens have businesses conducted on foreign soil. The business or other personal needs might warrant opening a foreign account to track their finances. As long as you...


Health Savings Accounts Contributions & Income Limits

Health Savings Accounts (HSAs) are individual savings accounts with tax benefits designed specifically to pay the medical bills of people enrolled in High Deductible Health Plans (HDHP).As...


What is Cancellation of Debt?

There are times a distressed borrower will negotiate with a creditor for debt relief. These borrowers will either file for bankruptcy or go with a debt relief program that can reduce...


Confused By The Military Tax Instructions for 2020? Here is What to do

A payroll tax deferral was put in place by President Donald Trump at the end of 2020. The income tax instructions recently released by the Defense Finance and Accounting Service (DFAS)...


What Is An Exemption?

An exemption is a legally permitted deduction that reduces the amount of income subject to income tax. The IRS previously offered two exemptions: personal exemptions and employee exemptions....








Like-Kind Exchange

Suppose you have an investment property, such as a house, apartment, condominium, or commercial property that you rent out. In that case, you usually have to pay capital gains tax...


Responsibility Of Employers For FICA Payroll Taxes

Most Americans are familiar with federal and state income taxes, but payroll taxes are not well understood.Payroll taxes are types of taxes applied to earned income: wages, salaries,...


Vital Things to Know about the Refundable Tax Credit

There are different goals for all taxpayers when filing their returns each year. Some might aim at reducing their tax amount. At the same time, another might desire a huge refund amount,...





How Insurance Companies Calculate their Reserve: Expected Loss Ratio Method

One of the ways insurance companies estimate their reserve is via the expected loss ratio method. This is a technique they use to estimate the earned premiums. Whenever the insurer...


Form 1099-K / Merchant Card and Third Party Network Payments.

What is Form 1099-K?Internal Revenue Service (IRS) Series 1099 forms help taxpayers report money received from various sources in addition to salary. Form 1099-K, "Merchant Card...


Military Moving Expenses, Broken Down.

With the new tax reforms, many people, except the military, do not qualify for moving expense deduction. For moving expense deduction to be valid, one needs to meet some time...


The Global Intangible Low-Taxed Income and Tax Reforms

One of the legislation's outputs for tax reform is establishing the Global Intangible Low-taxed Income (GILTI). The idea is to provide global (minimum), which brings about several...


Scholarships, Fellowships and Grants & Their Tax Implications

Higher education is expensive, with tuition and expenses rising every year.  Thankfully, there are assistance programs to relieve some of these costs in the form of scholarships,...


How The Adoption of a Child Can Affect Your Tax Return

For parents throughout the United States, adopting a child is something they wait years to do, and a source of great joy.  However, the adoption process is not without significant...


Individual Retirement Accounts: Understanding What it Entails

If you want to set money aside for your retirement, an Individual Retirement Account (IRA) provides the perfect opportunity. There are some tax advantages of IRA – it allows...


Are Tips Taxable?

Working and getting tips are tough, but regulations on tips and taxes can make life even more difficult if you don't know what to do. Some tax software can help, but it is best...


How Capital Gains Tax Works on Pension

Pension FundsPension fund is a type of plan in which employers, workers, or both decide to put aside funds to make life easier during retirement. The pension company invests the money...


Tax Deduction for Medical and Dental Expenses

For people with substantial medical bills that the insurance plan cannot take care of, there might be some relief when you file your taxes. This article explores what you can claim...


What is an Education Savings Bond?

An education savings bond program allows eligible taxpayers to exempt all or part of the interest earned on eligible savings bonds' redemption from gross annual income. Securities...


Real Estate Taxes and Property Taxes: Understanding The Difference

People that own a car or a truck will not be strangers to property taxes. These are taxes levied by the local government. The government uses the money majorly for projects and other...


The implication of Head of Household Filing Status for Your Taxes

The head of household filing status confuses taxpayers compared to any other IRS terms. This is not surprising as the head of filing signifies the breadwinner and the provider of the...


Understanding Form 2441 and all it Entails

Also known as Child and Dependent Care Expenses, Form 2441 targets reporting child and dependent care expenses on your tax return. This is an Internal Revenue Service (IRS) form used...


What Is a Business Line of Credit?

A business line of credit gives you access to a range of funds when you need capital. Unlike the traditional business loan, you have the option of borrowing up to a predetermined amount,...


Bitcoin vs. Stocks: Where should you invest your money in 2020?

There has been an awakened interest among many investors looking for an alternative as there are slowing economies in most of the developed countries, fiat currencies worldwide take...


Pre-Tax Rate of Return

What Is the Pre-tax Rate of Return?The pre-tax rate of return is the return on an investment that does not include the investor's taxes. Because people have different tax situations...


Foreign Trust Reporting and Gift Transaction Reporting Penalties

The IRS has closely examined the accurate and timely reporting of foreign distributions and gifts to and from foreign trusts. As regards this, the Large Business and International...


Breaking Down Economic Injury Disaster Loans

The latest Paycheck Protection Program (PPT) and the current Economic Injury Disaster Loans (EIDL) program are the two loan bundles that the Cares Act offers to small business owners...


Buying REITs: What are they and what you need to know?

Real estate investment trusts (REITs) are the main concern when constructing any equity or fixed-income portfolio. They offer greater divergence, possibly higher total returns and/or...


How to Report the Super Bowl and Other Taxable Gaming Income

If your weekend plans include placing a bet on the Super Bowl, remember that Uncle Sam wants some of what you will win if you win.It is expected that Americans will bet around $6.8...


Quick Tips for Effective Last-Minute Tax Planning

With the end of February in sight, comes the beginning of March (a month when there is usually a race for tax investment and planning among those who have not done so during the year)....


Major Retirement Concerns for Women

Retirement is a major headache for American women. This is because they always have a hard time deciding when to retire and the uncertainty that goes with it. At a time when women...


EITC Includes Family Caregivers

We all knew someone who takes care of other people. They are usually our relatives whose husband or a wife chooses to stop working to take care of their sick spouse or our friend who...


Real Estate and Stocks: What’s the Difference?

Everyone needs an investment strategy that suits the budget and needs. While many individuals choose the market as an investment option, real estate investment can be more effective...


What Is Lifetime Learning Tax Credit And How To Qualify For One?

The tax credit for lifetime learning represents 20% of the first $ 10,000 of tuition fees paid per year, up to a maximum of $ 2,000. You must have at least $ 10,000 of eligible expenses...


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