The IRS implemented a new Form 8822-B on January 1st. It requires you to update your business' responsible party information. Unless you have the same person responsible for your business taxes, including payroll taxes, since your company was formed, you need to file this form no later than March 1, 2014. While there are no [...]
The Alabama Department of Revenue issued the following press release about the upcoming Sales Tax Holiday for Severe Weather Preparedness Items. If we can assist you with set up of your systems or questions you might have about this tax holiday, please call our experts at JMF. Alabama Department of Revenue 2014 Sales [...]
Title: Seminar on New 2014 Construction LawLocation: 2200 Jack Warner Pkwy, Suite 300, Tuscaloosa, ALLink out: Click hereDescription: Is your government project sales & use tax exempt? Act 2013-205 requires the Department of Revenue to grant certificates of exemption from sales and use taxes to contractors and subcontractors licensed by the State Licensing Board for [...]
Alabama-based JamisonMoneyFarmer, PC and Jessup, Ingram, Burns & Associates, LLP have merged as of January 1, 2014. Terms were not disclosed, but the combined accounting firm will operate under the JamisonMoneyFarmer PC name. In addition, a related company Capstone Wealth Management, LLC is also joining the JamisonMoneyFarmer family of companies and continue to operate as [...]
Tuscaloosa, Alabama – Bryan R. Chandler, leading partner of JamisonMoneyFarmer in Tuscaloosa, Ala., is the new chair of the board of CPAmerica International. He succeeds 2013 chair, David J. Nissen, leading partner of Illinois-based Mueller & Co., LLP. CPAmerica International is a member-driven association of large independent CPA firms. “I feel privileged to be chairing the board of CPAmerica [...]
Tax breaks can come in the form of tax credits, tax deductions, and just tax-saving laws. At the end of this year (December 31), the congressional Joint Committee on Taxation say 55 of them are about to expire. For the record, there is still a chance for many to be extended. Check out Bankrate.com's Summary [...]
It is that time of year again. Our 2013 Year End Tax Planning letter is now available. This document is full of helpful information to help you take advantage of those last minute tax saving strategies and to help you avoid potential pitfalls. Please let your JMF Tax Professional know if we may be of [...]
JamisonMoneyFarmer PC would like to wish all of our clients, friends, and family members a Merry Christmas!
The Tax Advisor recently published an article about properly reporting partner compensation. Here is an excerpt from the Executive Summary of that article by Noel P. Brock, CPA. As partnerships increasingly offer equity interest to retain valued employees, these employees may be unaware of the employment tax consequences of receiving a partnership interest. Many partnerships [...]
The Safe Harbor plan is a popular 401(k) retirement plan for businesses with employees. Safe Harbor plans make it easy for business owners to maximize contributions to their own accounts while reducing some of the limitations associated with adhering to the non-discrimination testing required by the Internal Revenue Service (IRS) and ERISA (Employee Retirement Income Security Act). To [...]