Book Release from TaxAssurances


We’re proud to announce the release of our first book, “Top 12 Tax Deductions You Might Have Missed. Tax Tips For People Who Do Their Own Federal Taxes” on Amazon (link in picture).

Every year, our tax clients ask what other tax benefits they can take advantage of. And with every client, that answer is different and depends on their individual circumstances.

But even though every client has a different set of circumstances, some tax benefits are standard and basic under the IRS tax code. And people may not be aware of them. Why?

Because the IRS tax code is long and complicated. Even some of what we have in this book is somewhat detailed. There are a lot of situations for the IRS to consider. But most people don’t have the time, interest or energy to go through it all. That’s our job here at TaxAssurances, LLC.

This book highlights some basic benefits available to taxpayers they may not be aware of. And most importantly, we provide exact IRS wording on what they want in specific situations.

We do offer this word of caution. For those individuals that aren’t sure if they have a simple or complicated tax return, we strongly recommend that they seek professional, personalized tax help. TaxAssurances and other firms are here for that. The savings and clarity are worth it.

Also, because of specific personal circumstances, readers should not solely rely on this book for guidance.

We put this Top 12 list together for people who file simple tax returns. Nothing complicated or complex. It’s designed to complement them as they prepare their own tax returns.

They’ve gone to the store and bought the prep software for $30 or $40 and are comfortable doing their own returns. Also, they don’t want to pay a tax preparer a bunch of money for a simple return. And the last thing they want to do is sit in an office waiting for the preparer to finish the return. They want this process to be quick and easy.

These tax filers do understand however that there might be simple and easy tax benefits that they can take advantage of that they might not be aware of. This book helps them out.

This book does not cover itemized deductions or handling homeownership. It also doesn’t cover having investments or rental properties.

The layout and chapters are simple. They match up with the tax benefits themselves. So if a reader wants a quick overview, they can just go through the table of contents. There they can find the benefit that may apply to their life and go to that chapter.

So hopefully this book provides just what readers are looking for in tax benefits for their life.

For more on TaxAssurances, check out our reviews, photos and links on Yelp.

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Get to Work Wednesdays: Kolonji Murray ’95

Hampton University Pirates' Post

Kolonji Murray Headshot


My name is Kolonji Murray and I’m a 1995 graduate of our ‘Home by the Sea,’ with a degree in accounting. I’m also the owner of TaxAssurances, LLC, based in New Rochelle, New York – a business I started in 2011. Those accounting classes in Buckman Hall paid off nicely.

What is Your Business?

TaxAssurances provides individuals and business owners with the following services:

  • Tax preparation
  • Payroll Processing
  • Business Advisory
  • Bookkeeping
  • IRS & State tax relief and resolution


Even before attending Hampton, I knew that I wanted to study Accounting, with a focus on finance and investing. In high school, I had taken Accounting classes, and I loved following the stock market and business. I knew that Accounting provided a baseline understanding of the two.

I also knew that with a degree in Accounting I could always go into the tax preparation business, if need be. A lot…

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Co-Parenting and Tax Returns

I’ll say this in my experience with tax refunds and parents with children. Most cases, the mother takes care of the child(ren) most if not every day. New clothes, colds, doctors visits, bedtime stories, homework, sleepovers, school trip money, juice in the middle of the night etc. Also, daycare is not cheap Usually, because of all of this, the mother gets most if not all of the tax refund money.

Depending on the relationship, some mothers may share a portion of the refund. Especially, if the father is very involved but the child(ren) doesn’t live with him.

Some may even trade who claims the child(ren) for a particular year. Even year is for the mother and odd year is the father. If there are multiple children, they may split who claims which child.

But for the most part, mothers claim the child(ren) and keep the refund to use for the remainder of the year or so.

Now every so often, the couples hate each other and they race to the tax preparers’ office to file the return.

Here’s how the IRS decides who gets to claim the child(ren) and get the refund.

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A Checklist and Books from TaxAssurances for the Tax Season

Tax season is here and TaxAssurances is here to help tax payers prepare for it. Every year we give our clients a checklist for all the information we need in order to prepare their returns. Here is that checklist.


At TaxAssurances we also recognize that many people want to prepare their own tax return. Here are two books we’ve published to help.

The first book, Top 12 Tax Deductions You Might Have Missed: Tax Tips For People Who Do Their Own Federal Taxes is for tax payers that file simple tax returns but want to make sure they take advantage of all the tax benefits possible.

The second book, Top 23 Tax Deductions You Might Have Missed: Tax Tips For People Who Do Their Own Federal Taxes is for tax payers that file complex and complicated tax returns.

Both books help self filers make sure they uncover all the possible deductions they have available. We hope they help.

For more on TaxAssurances, check out our reviews, photos and links on Yelp.

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(Guest Post: Robert Beige) Key Ingredients in Starting A Business

In this audio post, veteran banker Robert Beige explains what prospective business owners need to do in starting a business. The audio runs a little over 40 minutes. Enjoy!

Six Points of Advocacy and Knowledge of Small Business Funding

For more on TaxAssurances, check out our reviews, photos and links on Yelp.

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An Excerpt from Bank Magic: Financial Literacy for Young People

Here is an excerpt from Bank Magic: Financial Literacy for Young People written by TaxAssurances’ owner, Kolonji Murray. The full book can be purchased on Amazon for Kindle and in paperback.


QUESTION: How can I ask the adult in my life for more allowance money for my chores?

ANSWER: Not all adults will give you an allowance. But, for those who do, create a list of all the things that you already do around the house. Next, think about the rewards that you would like to receive for getting good grades or doing a special task. Talk with your parents, guardians, or a trusted adult about what you would like to earn by keeping a regular schedule of your chores and maintaining good grades in school for each marking period. When they see that you are serious and have a commitment to keeping your word, they will be more than willing to give you the extra money you want. Adults love to see that you are serious and taking responsibility. You may also want to tell them that you promise you won’t argue with your siblings as an extra bonus!

QUESTION: I’m interested in taking on my first job in the neighborhood. How do I know what to charge?

ANSWER: If you want to take on your first job as a babysitter, dog walker, or lawn mower in your neighborhood, talk with an adult in your life about what you should charge. If there are older kids in your neighborhood who are already doing what you want to do, ask them how much they are charging and you can create your prices based on what they say. More formal jobs will tell you what they are willing to pay.

Bank Magic
QUESTION: Why is it so important to save my money? Why can’t I just spend it now?

ANSWER: While you may be eager to spend your money on clothes, snacks, toys, or other things, you also have to think about your life choices as you continue to grow and decide what to do next. Maybe you want to attend a special afterschool program, take up a new sport, or attend college. All of those things require money. Adults can certainly help, but it will be far more rewarding when you can save up your money now for that goal in the future. You’ll need to have that kind of discipline throughout your life.

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America’s Expenses, Income & Debt for 2016 – 2017

For fiscal years 2016 and 2017 (October 2016 – September 2017), the U.S. federal government spent $3.98 Trillion to pay its bills (I.e. Military, Social Security, Medicare/Medicaid, Education etc.). Here’s how much of it was spent:

Medicare/Medicaid (Dept. of Health & Human Services)  – $1.1 Trillion

Social Security  – $1 Trillion

Dept. of Defense  – $568 Billion

Dept. of Treasury INTEREST ONLY on our Debt – $457 Billion

Those four “items” alone account for roughly $.79 for every $1 spent by the federal government.

The other roughly $.21 combined spending goes for everything else including Education, Veterans, Homeland Security, Housing & Urban Development, Transportation, Energy, Agriculture, Environmental Protection.


The federal government also collected roughly $3.31 Trillion from taxpayers (I.e. Your paycheck).

Here’s the full Department of Treasury report for both expenses and income.


Finally, over the years, the federal government has borrowed money to take care of its needs. Currently, it owes over $20.4 Trillion on its “credit cards” and “loans” combined (national debt).

Here is a real time total of what the federal government owes and who it owes it to.

As stated earlier, in the 2016 – 2017 fiscal year, the federal government used the taxes we paid to pay $457 Billion in INTEREST ONLY on the total amount it owes.

Here’s how much the national debt has grown since 2000:

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