In case you missed it, the US Senate passed the American Taxpayer Relief Act of 2012 by a margin of 89-8, and the House approved the bill by a vote of 257–167 late yesterday evening (January 1st). It now goes to the White House for President Obama's signature. This was the Bill that averted to Fiscal [...]
For gifts made in 2013, the gift tax annual exclusion will be $14,000 (up from $13,000 for gifts made in 2012).
JamisonMoneyFarmer works with many family businesses, and some cases, second and third generation family businesses. In fact, JMF is a third generation firm, as one of our shareholders Carl Jamison, is the grandson of our founder, late Carl C. Farmer. The importance of family owned businesses cannot be overstated. Family owned businesses contribute $8.3 trillion [...]
If you are looking for CLE or CFE and an informative seminar to attend on conservation easements, JMF and the Alabama Land Trust have put together a slate of presenters, including Timothy Lindstrom and David Wooldridge, that you will not want to miss. This seminar begins with registration at 8:00 am and ends at 3:30 [...]
The link below will take you to a press release detailing the work that the AICPA is doing to urge Congress to take action in regard to the Estate Tax. We are on the brink of a very large increase in the taxability of estates and gifts. With this being an election year, it is feared [...]
Many taxpayers have recently received e-mail messages claiming to be from the IRS. In many instances these e-mails are referencing tax refunds or other entitlements urging the recipient to provide information, click on a link in the message, or to open an attachment. If you receive a similar message, DO NOT OPEN IT. Do not reply to [...]
According to the U.S. Department of Health and Human Services, Administration on Aging: "The older population, persons 65 years or older, numbered 39.6 million in 2009...about one in every eight Americans. By 2030, there will be about 72.1 million older persons, more than twice their number in 2000." With several factors helping us to [...]
In case you have been under a rock or in a bubble the last few days, Facebook went public last week in what some are calling the “biggest IPO cross in the history of mankind." All hyperbole aside, there are literally thousands of new millionaires and plenty of new billionaires. Two of those billionaires were Mark Zuckerberg and Dustin Moskovitz, co-founders [...]
ORIGINALLY PUBLISHED IN FEBRUARY 2011, BUT STILL VERY APPLICABLE TODAY >>> Many of you have been asking us about the new estate tax laws that passed at the end of 2010. Should I make gifts now to take advantage of the new higher gift tax exemption rates? Do I still need to consider using [...]
Click here to listen in on the Capital Ideas-Live webcast featuring guest speaker and JMF CPA Chris Williams as he explains 1031 like-kind exchanges and answers questions about the complexities of this tax deferral transaction. Chris' portion begins at Minute 23.