Last week, the Supreme Court unanimously ruled that inherited IRAs are not protected in bankruptcy under federal law. The Court’s decision resolved the bankruptcy question about inherited IRAs in the federal courts, but it does not resolve all questions because state laws also control the bankruptcy protection. Each state’s law is different, here is a [...]
Due to recent flooding and tornadoes, the Alabama Department of Revenue has offered taxpayer relief in the federally-declared disasters areas of Baldwin, Blount, DeKalb, Etowah, Jefferson, Lee, Limestone, Mobile, and Tuscaloosa counties, or whose business operations are located in those counties, until Oct. 15, 2014, to file certain Alabama tax returns that have a due [...]
Given that tomorrow is Tax Day, we figured you might want to know where all of those tax dollars really go. Almost 70% of all funds go to three programs: Defense and Military Benefits Social Security Health Care Did you also know that the government spent about 25% more money than it collected in 2013? [...]
You may have a problem. Microsoft ended support of Windows XP on Tuesday, leaving the many still clinging to the outdated software exposed to cyber attacks. If you need help upgrading, please do not hesitate to call JMF Technologies.
Yesterday the Treasury Inspector General for Tax Administration issued a press release (below) concerning what they are calling the "Largest Ever" phone fraud scam targeting taxpayers. BEWARE of phone calls from individuals claiming to represent the Internal Revenue Service (IRS) in an effort to defraud you. These calls have hit taxpayers in nearly every state in [...]
While we are a CPA firm and we complete and we welcome many individual tax returns, for some people it doesn't make sense to pay a CPA to complete their tax return. If you have complex tax issues, it may well be in your best interest to consult a CPA because we specialize in tax planning and tax preparation [...]
1) Set up a file (or box) for your 2013 taxes. Put a label on it and drop in your Form W-2 and 1099s as they come in the mail. 2) Open the envelope with your JMF organizer. Please use the organizer as a guide to make sure you have everything that you had last [...]
It has come to our attention at JamisonMoneyFarmer PC that there is an e-mail scam currently circulating targeting international taxpayers. This scam is in the form of an e-mail purportedly from the Department of Treasury Internal Revenue Service. It suggests that you should complete a W-8 BEN form and fax it to a link in the [...]
In a recent article in the Globe and Mail by Jennifer Warawa, nine reasons to work with an accountant were discussed. While this may seem self serving coming from an accountant, I see so many start up problems that could have been prevented with a short visit that I find this worth sharing. Here is [...]
The IRS announced last week that they have delayed the shared-responsibility requirement for employers who have 50-99 full-time equivalent employees in 2014. These employers will now have until 2016 to offer health care coverage to their employees or be subject to the shared-responsibility payments. These employers will be required to start reporting for health care [...]