Like-Kind, 1031 Exchanges
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
I’ll Let State Law Decide Who Gets My Assets and My…Children?
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 [...]
Facebook + You = Chance at Free Tax Return
If JamisonMoneyFarmer PC has prepared or will prepare your personal taxes this year and you would like to be in a drawing to receive that service for free (up to $500), you need to do two things: 1. Like us on facebook by going to: https://www.facebook.com/JamisonMoneyFarmer and click the like button.2. Change your profile to [...]
Alabama Tornado Assistance And Relief Newsletter
It has been almost a year since the deadly tornados of April 2011 swept across the Southeast. And, unfortunately, we have had additional storms since then. If you were personally affected by these storms and suffered damages, you are now faced with trying to determine if you have any tax losses (or even gains) to [...]
What should you do if you lose your job?
This blog post is probably more timely if it were 2009, given the recent positive news on the job front, but it some ways, this question is timeless. If you lose your job, there are multiple considerations that you have to address almost immediately. Quick action can save you considerable money and headaches. First [...]
Tax Season Fun?
Business Alabama just released their March publication which features a story on surviving tax season. Read and find out how we, and other firms in Alabama stay in our best frame of mind by taking fun breaks. Click here to read more.
The importance of successful family businesses to the US economy
Family businesses are different from closely-held businesses in that the two or more family members own more than 15% of the equity of the business, family members are employed or manage the business, and the intent of the members is to retain ownership. Per the Family Enterprise USA in 2011, there are 5.5 million family [...]
Have you or are you going to hire a veteran?
There is a new Veterans Tax Credit which was included in the The VOW to Hire Heroes Act of 2011 (enacted 11/21/11) expanded the Work Opportunity Tax Credit (WOTC), for businesses that hire eligible unemployed veterans on or before 12/31/12. The credit maximum is $9,600 per veteran for for-profit businesses depending on the length of [...]
Landowners Protection Act Hopes to Open More Hunting Land in Alabama
As we roll out of deer season and into turkey season we are reminded of the passage of Alabama Senate Bill 84. Senator Gerald Allen (R-Cottondale) sponsored this bill and it was signed into law last year by Governor Bentley. This important piece of legislation will hopefully pave the way for many more tracts of land in Alabama to be [...]
Staying on the right side of the IRS
Recently Forbes ran a great article titled, "How To Avoid -- Or Win -- An IRS Audit or Court Battle" after the IRS posted its annual report to Congress by the National Taxpayers Advocate. The top litigation areas highlights where the IRS is focusing most of its enforcement effort, especially directed at individuals and small [...]