If you barter or trade in the course of your business there are some things you should know. Barter and trade income are the same as any other income. For tax reporting you must report the fair market value of the products and services you received; you also may be able to deduct the costs [...]
You may remember in 2010 that the Dodd-Frank Act temporarily increased the FDIC (Federal Deposit Insurance Corporation) insurance limit to an unlimited threshold. As of January 1, 2013 this provision has expired. The current maximum insurance allowed by law is $250,000 per ownership category. Here is a FAQ from the FDIC regarding this change. At [...]
A bill creating tax credits for the families of students in failing schools passed last week. The Alabama Accountability Act of 2013 (HB84) was created to provide more flexibility in the public education system, both for schools and students. The bill does three things: Gives local school districts greater flexibility in complying with state regulations. [...]
The IRS has issued a warning to taxpayers who receive emails claiming to be from the government agency. The emails, which often include the IRS name and logo, are from scammers seeking personal and financial information. The IRS never contacts taxpayers via email or social media to request personal or financial information. The IRS warns [...]
Title: Tuscaloosa Half Marathon SponsorsLocation: Government Plaza Downtown TuscaloosaLink out: Click hereDescription: JMF is proud to be one of the sponsors of Tuscaloosa's first half marathon Saturday, March 2nd. Several JMF volunteers will be joining volunteers from the Bank of Tuscaloosa to man a water station on the river walk close to our offices from [...]
JamisonMoneyFarmer shareholder Cathy Rice has been elected to serve on the Board of Directors for the Georgia Land Trust, Inc., Alabama Land Trust, Inc., and the founding organization The Chattowah Open Land Trust, Inc. The Board meets quarterly and is dedicated to protecting land for present and future generations, primarily by helping private landowners establish conservation [...]
The Alabama Department of Revenue announced that for Alabama tax filing purposes, it will follow the federal tax filing relief that is being offered to Alabama farmers and fishermen. The Internal Revenue Service recently announced that it will issue guidance in the near future to provide relief from the federal estimated tax penalty for those [...]
The total value of Alabama goods exported for the 2012 calendar year was $19.5 billion, a 9.36 percent increase from 2011, according to a statement from Gov. Robert Bentley’s office released Monday, Feb. 11. Germany became the second largest destination market, with $2.5 billion in sales. This is a significant increase from 2011, with 30 [...]
“Busy season” is a hectic time for accounting firms like JamisonMoneyFarmer, but it is a time of opportunity for accounting students. Each year, UA students intern for firms in the Southeast and nationwide. From the beginning of January to mid-March, interns assist with real clients and projects and, in turn, gain valuable work experience. One [...]
The following interview appeared in the February/March 2013 issue of the ASCPA Alabama CPA Magazine. Read the original article (page 3) and the issue in its entirety online. Carl Jamison Takes Advocacy Seriously The Business Council of Alabama’s new chair is Carl Jamison, managing partner third generation shareholder of JamisonMoneyFarmer in Tuscaloosa. He answered some questions [...]