Corporate & Partnership Tax

/Corporate & Partnership Tax

IRS Offers Tax Treat on Business Meals

By | 2018-11-08T17:20:10+00:00 November 8th, 2018|Corporate & Partnership Tax, Entrepreneurs, News & Events|

A new Notice issued by the IRS (Notice 2018-76) gives businesses a tax reprieve from a crackdown in the Tax Cuts and Jobs Act (TCJA). Under the Notice, your company can deduct meal expenses incurred in connection with entertainment activities as long as the food and beverage costs are stated separately. Background: Prior to [...]

JMF Managing Shareholder Scott Goldsmith Invited to Join alliantgroup’s Strategic Advisory Board

By | 2018-09-24T19:41:15+00:00 September 24th, 2018|Corporate & Partnership Tax, News & Events, Press Releases|

JamisonMoneyFarmer PC is proud to announce that alliantgroup has added Scott Goldsmith, CPA, to that firm’s Strategic Advisory Board. Goldsmith brings to the board over 29 years of management and public accounting experience as well as an extensive background in tax and business planning. In his new consultative position, Goldsmith will play an important role in [...]

Opportunity Zones Have Great Potential for Tax Payers

By | 2018-10-31T18:39:32+00:00 September 24th, 2018|Corporate & Partnership Tax, Entrepreneurs, Individual Tax, News & Events, Press Releases|

“Opportunity Zones” are included in the new tax law known as Tax Cuts and Jobs Act of 2017.  These zones encourage private sector investment in low-income community businesses which are inside defined census tract lines throughout the United States. The new tax code allows any taxpayer to defer gains until the earlier of the [...]

What does the Wayfair Supreme Court decision mean for Alabama?

By | 2018-07-12T14:51:58+00:00 July 12th, 2018|Corporate & Partnership Tax, Entrepreneurs, News & Events, Press Releases, SALT|

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 [...]

Four Key Changes for Depreciation Deductions

By | 2018-05-23T15:57:35+00:00 May 29th, 2018|Corporate & Partnership Tax, Entrepreneurs, Individual Tax, News & Events|

The new Tax Cuts and Jobs Act (TCJA) of 2017 is designed to stimulate business growth by cutting corporate tax rates and enhancing tax benefits for acquiring business property. Under the TCJA, your company may be able to deduct the full cost of property placed in service in 2018 through a combination of rules relating [...]

ADOR Launches Tax Amnesty Website

By | 2018-05-23T15:40:08+00:00 May 23rd, 2018|Corporate & Partnership Tax, Individual Tax, News & Events, SALT|

The Alabama Department of Revenue (ADOR) has launched alabamataxamnesty.com, a website dedicated to the Alabama Tax Delinquency Amnesty Program of 2018. The program begins July 1st and runs through September 30, 2018.  Please note that to be eligible, the taxpayer may not have been previously contacted by ADOR (within the last two years) to file returns.  Most [...]

Last Chance for Key Tax Deductions?

By | 2018-04-24T15:13:23+00:00 April 24th, 2018|Corporate & Partnership Tax, Individual Tax, News & Events|

The new tax law enacted at the end of last year—the Tax Cuts and Jobs Act (TCJA)—provides numerous tax changes for individuals, including tax rate cuts and a higher standard deduction. Significantly, the TCJA also eliminates or modifies certain deductions, including the majority of itemized deductions, beginning in 2018. As a result, fewer taxpayers are [...]

Favorable Tax Treatment for Medical Expenses Under New Tax Law

By | 2018-04-24T15:00:12+00:00 April 24th, 2018|Corporate & Partnership Tax, Health Care, Individual Tax, News & Events|

The Tax Cuts and Jobs Act (TCJA) repeals or cuts back many deductions on personal returns, but the medical expense deduction survived the chopping block. In fact, the new law temporarily enhances the deduction, retroactive to the 2017 tax year. In other words, you can benefit from this tax-favored treatment on the 2017 return you [...]