Cryptocurrencies Are Highly Volatile, but Some Say They Are Worth It For some investors—those with stomachs for volatility—it may be time for a closer look at cryptocurrencies. By now, most investors have heard of bitcoin, following its phenomenal growth last year. Bitcoin, an electronic currency made by computers creating series of unique numbers through complex [...]
The Key: Adjusting Lifestyle to Reduced Income And now for a little good news. Most of the stories we read about retirement planning tend to be dominated by "unpleasant realities" and savings goals that can seem like Mount Everest. And then … the brakes go out on the car again. Indeed, many people head [...]
Leaving Behind too Big of an Estate Can Cause Tax Pain Later When it comes to retirement planning, most people are focused on making sure they don't outlive their assets. While that is key, there is a serious risk that many people overlook: leaving too much money on the table when they die. That can [...]
As an employer, if you offer any type health and welfare benefit and you have more than 100 employees receiving those benefits, you may be required to file Form 5500, the Annual Return/Report of Employee Benefit Plans with the Department of Labor (DOL)/ Internal Revenue Service (IRS) A couple of examples of health and [...]
Officials Say the Actual IRS Will Never Make First Contact by Phone Con artists posing as Internal Revenue Service agents are back in the news. Despite previous warnings from government officials, some taxpayers still haven't gotten the message. "There are clear warning signs about these scams, which continue at high levels throughout the nation," IRS [...]
By Jim Stinson | jstinson@al.comAL.comFollow on Twitteron August 20, 2014 at 5:21 PM, updated August 20, 2014 at 5:57 PM Julie Magee, Alabama revenue commissioner MONTGOMERY, Alabama -- The state of Alabama slowed about 100,000 tax refunds this year because of a new computer algorithm designed to detect fraud and identity theft. That meant [...]
A new Alabama income tax credit is available for Alabama individuals and businesses that contribute cash to the Alabama Department of Postsecondary Education (ADPE) for qualifying educational expenses directly associated with the state’s Career‐Technical Dual Enrollment Program. The tax credit was created by House Bill 384 (Act No. 2014‐147, the “Act”), which was sponsored by [...]
On April 23, 2014 Mississippi became the 15th state to allow for the creation of a “self-settled asset protection trust”. This new legislation was effective July 1, 2014 and allows the grantor of the trust to transfer assets into trust to protect them against future creditors. This trust is often referred to as a Domestic [...]
Effective January 1st, 2015, and in keeping with the Tax Court's recent decision, the limit of one IRA rollover to another within any 12 month period will now apply on an aggregated basis. The old IRA-by-IRA rollover basis when considering the 12 month period has been withdrawn, even though the IRS Publication 590, Individual Retirement [...]
JamisonMoneyFarmerPC was recently named as one of the Best Companies to Work for in Alabama. This fifth annual program was created by Business Alabama and Best Companies Group. This survey and awards program was designed to identify, recognize and honor the best employers in Alabama, benefiting the county's economy, workforce and businesses. The list is [...]