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 Agricultural Irrigation Systems Tax Credit was signed by Governor Robert Bentley on May 14th. This new tax incentive provides Alabama farmers a credit of up to 20% of the cost of new or improved irrigation systems with a cap of $10,000 per farm. Decades of research gave rise to the legislation with hopes that the increased agricultural [...]
The Supreme Court has upheld all of the provisions of the Patient Protection and Affordable Care Act of 2010 (the Health Care Law). Unless Congress makes changes then individuals that make more than $200,000 a year ($250,000 if married) will start paying more into Medicare beginning in 2013. The health care law changes the Medicare [...]
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 [...]
Have we reached the point where this bitter cliche has become true? It sure seems like it in this instance. In a recent tax court case, IRS argued that a taxpayer's charitable contribution to their church was not allowable. In this case (TC MEMO 2012-140), the church provided the taxpayer with an annual giving statement before the due [...]
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.
Tax deferred property exchanges must be structured correctly, from the beginning, to realize the benefits of deferred taxes. Click here to learn more about Like-Kind 1031 exchanges
Estate Planning 101 - If you don't have a will or all of your assets properly titled to pass by operation of law, then the assets of your estate will be distributed according to state law. A more shocking fact is that if you have not named a guardian in your will, state law will [...]