Are you still wondering how the new tax changes may affect you and your tax bill? We have linked our Federal Tax Watch alert which summarizes the provisions primarily affecting individuals, the provisions primarily affecting businesses, the new Healthcare taxes taking effect in 2013, and tax planning considerations. Also, if you are interested in more [...]
One of the many worries for doctors related to the new Health Care Act and the Fiscal Cliff was directly related to an almost 30% cut in premiums paid for Medicare services. The bill that passed will block, at least for the next year, a scheduled 27% cut in reimbursements for Medicare physicians. The "Doc Fix", [...]
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 [...]
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, [...]
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 [...]
For gifts made in 2013, the gift tax annual exclusion will be $14,000 (up from $13,000 for gifts made in 2012).
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 [...]
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 [...]
News Release | August 1, 2012 | Alabama Department of Revenue Montgomery—The Alabama Department of Revenue (ADOR) alerted taxpayers today of an e-mail scam in which taxpayers are reportedly advised that they have been awarded gift cards or other prize winnings from the Alabama Department of Revenue. The ADOR advises that if you receive an [...]