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IRS Explains 199A Rules for Real Estate

The massive tax legislation signed over a year ago, the Tax Cuts and Jobs Act (TCJA), authorized a brand-new deduction for qualified business income (QBI) of pass-through entities and sole proprietors. This deduction under Section 199A of the tax code provides opportunities for a wide range of taxpayers, but has also caused confusion, especially as [...]

By |2019-04-16T19:28:49+00:00April 18th, 2019|Individual Tax, News & Events|0 Comments

Retirement Saving Through the Years: Guidelines for different life stages

When should you start saving for retirement? Probably the best answer is “yesterday.” If you have not started putting aside funds yet, the next best answer is “now.” In other words, it is not too early to begin saving for retirement, nor is it generally too late, although the manner and method of savings [...]

The Tax ABCs of Higher Education

Are any of your children currently attending college or preparing to enter school in the fall? The tax law provides several special tax breaks that may benefit parents who help pay qualified expenses. In particular, you may be able to claim one of two tax credits for higher education, subject to certain restrictions. Following is [...]

By |2019-03-25T16:35:33+00:00March 25th, 2019|Individual Tax, News & Events|0 Comments

New SALT Rules Spice Up ’18 Returns

Under the Tax Cuts and Jobs Act (TCJA), certain deductions have been eliminated or modified, including the write-off for state and local tax (SALT) payments. The changes are effective for 2018 through 2025. As a result, some taxpayers will be going on a SALT-free diet when they file their 2018 returns. Background: Previously, many middle-to-upper [...]

By |2019-03-25T21:12:32+00:00March 10th, 2019|Individual Tax, News & Events, SALT|0 Comments

Kristi Moore and Rachel Taylor have been admitted as JMF shareholders

JamisonMoneyFarmer PC is pleased to announce that CPAs Kristi Moore and Rachel Taylor have been admitted as shareholders in the firm effective January 1, 2019. Managing Shareholder Scott Goldsmith of JamisonMoneyFarmer PC (“JMF”) is pleased to announce the promotions of Kristi Moore and Rachel Taylor as shareholders. Kristi and Rachel join twelve other shareholders at [...]

By |2019-02-27T18:36:06+00:00February 27th, 2019|News & Events, Press Releases|0 Comments

Is Time Running Out for Your FSA?

If your company maintains flexible spending arrangements (FSAs) for the healthcare expenses of employees, an important deadline may be looming: March 15, 2019. For many healthcare FSAs, this is the last day you can withdraw funds from the balance in your account for 2018. Background: An FSA is funded with pre-tax dollars, so there are [...]