If you have employees in states other than Alabama, you may have a FUTA Credit Reduction due to unemployment loan interest not being repaid timely from the state to the federal government. A list of those states and the credit reduction follows. These amounts will be added back to the Form 940 on 940 Schedule [...]
The IRS has announced that the 2013 Standard Mileage Rates will be: 56.5 cents per mile for business miles driven 24 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations This is an increase of 1 cent per mile over the 2012 business and medical/moving [...]
Press Release, 11/15/12, Tuscaloosa, AL: JamisonMoneyFarmer PC, Certified Public Accountants, is pleased to announce the following: Andrea Easterwood accepts position at JMF as a staff accountant. Andrea Easterwood began full time at JMF in October as a staff accountant in tax and accounting. Miss Easterwood worked as an intern for JMF during the 2011 and 2012 [...]
Prior to the election, JamisonMoneyFarmer CPA Rachel Taylor lead a discussion on the major "fiscal cliff" items like the expiration of particular tax cuts, shifts in alternative minimum tax, increased Medicare taxes, new spending cuts, tax extenders, and the expiration of payroll tax cut. Below is the Powerpoint deck. If you have any further questions, [...]
On October 25th, JMF's Selma location hosted a Chamber After Hours and Ribbon Cutting event in celebration of their new location at 798 Highland Avenue. The event was well attended, complete with beverages, appetizers and door prizes. The Selma office opened 7 years ago when JMF's manager Kim Bannerman married Ken Smith and [...]
Starting November 15, 2012 EFTPS is making some changes. They have changed the website to remove defaults from the tax period and settlement date. If you have used the site at the end of a quarter, you know how easy it was to post to the wrong tax period. Now, with this change, you will [...]
Last week the Social Security Administration announced that the 2013 Taxable Wage Base will be $113,700 up from $110,100 in 2012. Unfortunately, many other payroll tax items may not be known until very late this year. Congress is expected to allow the reduction of the employee portion of social security tax to revert to 6.2% [...]
A ribbon cutting, attended by Selma City Council Members, Selma's Mayor, a leadership team from JMF's main office in Tuscaloosa, and the Selma - Dallas County Chamber of Commerce, will be at 5:00 p.m. October 25th at JMF's new Selma location. JMF's CPA Kim Smith opened an office seven years ago in Selma. The new [...]
JMF's CPA Kim Smith was featured in "The Selma Times-Journal" annual edition of "Women in Business" which includes 4 or 5 women throughout the county. Kim has brought a lot of positive attention to JMF through her above average, workable knowledge in business and also through her and her husband Ken's community and civic involvement. To [...]
A review of President Obama and Governor Romney proposals with respect to taxes reveal that they are surprisingly similar in many areas. However, even though they have not always clarified in detail all their positions on certain tax issues, below is a brief summary of 10 selected tax issues that we believe may affect many [...]