2013 gift tax annual exclusion has increased
For gifts made in 2013, the gift tax annual exclusion will be $14,000 (up from $13,000 for gifts made in 2012).
2012 Year End Tax Planning Letter
Yes, it is that time of year again. Our 2012 year-end tax planning letter is now available. This document is chock full of helpful information to help you take advantage of those last minute tax saving strategies and to help you avoid potential pitfalls. Click here to download/print the 2012 Year End Tax Planning Letter. Please call your JMF [...]
Employee Social Security Tax Rate Likely to Revert to 6.2%
It is being reported in The New York Times today that it is likely that the reduction to the employee portion of Social Security taxes is going to be allowed to expire. While some economists are recommending a replacement tax cut, many politicians are against continuing this particular tax cut. Additionally, Treasury Secretary Geithner has told Congress [...]
JMF helps launch Young Entrepreneurs Academy in Tuscaloosa
Who wants to pitch their business idea on the hit TV show Shark Tank? The Chamber of Commerce of West Alabama, JamisonMoneyFarmer's Bobby Bragg and local businessmen Lee Henderson of Smoothie King and Which Wich Superior Sandwiches helped launch the Young Entrepreneurs Academy (YEA!). Bragg and Henderson have both successfully started their own businesses multiple times and both will serve [...]
Bryan Chandler is a Delegate to CPAmerica International’s 2012 Leading Partners Retreat
Bryan Chandler, CPA Bryan R. Chandler, CPA and Managing Shareholder of JamisonMoneyFarmer PC, is a delegate to CPAmerica International’s 2012 Leading Partners Retreat being held in Denver, Colo., this week, Sept.19-21, 2012. The meeting is an annual event sponsored by CPAmerica, which brings together partners from member firms across the United States for networking, [...]
QuickBooks Intermediate Training
Title: QuickBooks Intermediate TrainingLocation: JMF Training RoomLink out: Click hereDescription: Quickbooks Intermediate Lunch-And-Learn September 26, 2012 (deadline to register: September 21st) 11:30 am – 1:30 pm Facilitator: Susan Snowden, CPA, JamisonMoneyFarmer PC price: $30.00 per person for Chamber members, lunch included Chamber members who attend both Quickbooks sessions will pay $55.00 This class will help [...]
QuickBooks Basic Training
Title: QuickBooks Basic TrainingLocation: JMF Training RoomLink out: Click hereDescription: September 25, 2012 (deadline to register: September 21st) 11:30 am – 1:30 pm Facilitator: Susan Snowden, CPA, JamisonMoneyFarmer PC price: $30.00 per person for Chamber members, lunch included Chamber members who attend both Quickbooks sessions will pay $55.00 This class will help the beginning QuickBooks [...]
Is it a salary advance, a loan or just a paycheck?
Often in lean times employers will advance employees part of their wages to help them cover a need. This is especially true for employees who are paid monthly or have wages paid a week or two in arrears. So when you make that advance how is it treated for tax purposes? Technically, if it is [...]
Form 2290 Heavy Highway Vehicle Use Tax
The Form 2290 Heavy Highway Vehicle Use Tax is due by August 31st. Payments can be made via the Electronic Federal Tax Payment System (EFTPS) or by check sent with the form. Please contact our Client Services Department if you need assistance with this form.
Changes to Form W-2 reporting related to the new Health Care Law
There are two categories of employers for Form W-2 reporting of health care.1. Those who will receive Transition Relief2. Those who are required to report on the 2012 Form W-2 issued in January 2013 Transitional Relief applies to: Employers who filed fewer than 250 Forms W-2 for the prior year (2011 Forms in this case) [...]