As with individuals, year-end tax planning for businesses remains somewhat uncertain. However, the Protecting Americans from Tax Hikes (PATH) Act of 2015 preserved certain tax benefits that can be incorporated into a logical year-end plan. Here are five ideas for small-business owners to consider: Speed up equipment deductions. Under the PATH Act, the maximum [...]
By: Jennifer Stripling, Tax Manager Jennifer is a tax manager, a member of the JMF Tax Department and in an integral part of the JMF State and Local Tax (SALT) group. With over 11 years of experience, she assists clients with corporate, partnership, and individual income tax reporting as well as complex multi-state income and sales tax [...]
At one time, pension plans and other qualified retirement plans were usually offered only by larger companies, but now, many small companies have caught up. In fact, if you are self-employed with just one or two employees—or maybe just yourself—you still have plenty of retirement plan options at your disposal. Here are four popular [...]
If you are a successful business owner, you should prepare for the day when you hand over the reins—perhaps to a younger family member—or sell the business outright. In the event you are predisposed to sell, you could be leaving some money on the table if you do not put your best foot forward. [...]
If your child is going back to college this fall, you may be in line for either one of two higher-education credits: American Opportunity Tax Credit (AOTC): The maximum $2,500 AOTC may be claimed for each student in the family. It is available for up to four years of study. Lifetime Learning Credit (LLC): [...]
GUEST POST: Today's blog is about an interesting private equity structure called, "Minority Equity Buyout". We asked Dennis Hinton of the North River Group if he would be willing to help explain exactly what it is and how it is used. NRG is based in Birmingham, Alabama but invests in owners throughout the Southeast [...]
The JamisonMoneyFarmer International Practice Group works with many companies that are expanding internationally on a variety of tax and accounting issues. As part of our recent US German Alliance meeting in Tuscaloosa, one of the sessions included a discussion about “Common Mistakes US Investors Make Entering Germany”. We (US German Alliance) have summarized that [...]
The JamisonMoneyFarmer International Practice Group works with many foreign-owned companies on a variety of tax and accounting issues. As part of our recent US German Alliance meeting in Tuscaloosa, one of the sessions included a discussion about “Common Mistakes Foreign Direct Investors Make Entering the United States”. We have summarized that discussion as it [...]
Being self-employed has its advantages and disadvantages. As the person in charge of your business affairs, you can set your own schedule and generally have more flexibility than someone in a 9-to-5 job. On the other hand, you are fully responsible for the bottom line, often with little or no backup to rely on. [...]
If your young children are going back to school soon (or already returned this month), you may need to pay someone for after-school care, especially if both you and your spouse work. Silver tax lining: You may qualify for the dependent care credit. This credit is available for childcare costs for children under 13 [...]