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 [...]
The US Tax Court recently made changes to long-standing US policy for the taxation of the sale of a non-resident foreign partner’s interest in a US trade or business partnership. Generally, the US taxes non-resident foreign persons only on US sourced capital gains. Consequently, the US has historically only taxed capital gains of non-resident [...]
By: Rachel Aaron, CPA Supervisor & IRS Specialist JMF is always ready and willing to assist you when correspondence from the IRS comes your way. We have highly trained staff that deal with these issues on a regular basis. As tax practitioners representing our clients, we often have the ability to communicate with the [...]
While the climate for tax reform remains uncertain, individual taxpayers and small-business owners are advised to act based on the current laws of the land, unless there is a definite change. Keeping that in mind, here are seven ideas to consider as we head into summer. 1. Harvest capital gains or losses. The maximum tax rate [...]
A 401(k) plan can be a win-win situation for employees and employers. Just take a quick look at the payoff. *For employees: You can defer up to $18,000 of salary to your account in 2017 ($24,000 if you are age 50 or older), before any employer-matched contributions. Contributions may grow without any tax erosion until [...]
Tax Window, You See What I Did There? Perhaps you own a vacation home that you and your family use personally. Key tax break: There is a unique tax window of opportunity for short-term rentals. If the rental for the year lasts 14 days or less (this is the key amount of time), [...]
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 [...]
FOR IMMEDIATE RELEASE Two JamisonMoneyFarmer CPAs Win Project Award from Elite Leadership Academy TUSCALOOSA, Alabama – JamisonMoneyFarmer PC (“JMF”) supervisor accountants Kim Miesse and Andrea Armstrong were recognized by the Alabama Society of Certified Public Accountants for their outstanding project work as part of their annual Leadership Academy. Mrs. Miesse and Armstrong both graduated from [...]
FOR IMMEDIATE RELEASE TUSCALOOSA, Alabama – Andrea Armstrong has won The Outstanding Young CPA award presented by Alabama Society of Certified Public Accountants (“ASCPA”) at last night in Montgomery, Alabama. Mrs. Armstrong, a senior at JamisonMoneyFarmer, has provided exceptional service to the ASCPA in numerous positions including multiple years as an ASCPA Young CPA Cabinet Member, [...]
Do you travel in your vehicle on behalf of a charity? In lieu of keeping track of actual expenses, you can use the standard mileage rate of 14 cents per mile, plus related tolls and parking fees, to figure out the deduction. Unlike the standard mileage rates for business, moving or medical expense travel, this [...]