SALT

/SALT

New SALT Rules Spice Up ’18 Returns

By |2019-03-25T21:12:32+00:00March 10th, 2019|Individual Tax, News & Events, SALT|

Under the Tax Cuts and Jobs Act (TCJA), certain deductions have been eliminated or modified, including the write-off for state and local tax (SALT) payments. The changes are effective for 2018 through 2025. As a result, some taxpayers will be going on a SALT-free diet when they file their 2018 returns. Background: Previously, many middle-to-upper [...]

Will You Miss These Tax Deductions?

By |2019-02-05T19:06:35+00:00February 5th, 2019|Entrepreneurs, Individual Tax, News & Events, SALT|

Form 1040 has a different look this year. Thanks to the Tax Cuts and Jobs Act (TCJA), the standard deduction has essentially been doubled while certain deductions have been modified or eliminated. Due to these changes, which are generally effective for 2018 through 2025, you may be better off claiming the standard deduction on your [...]

Wayfair: We’ve Got Just What You Need (to Know)

By |2019-01-10T15:34:01+00:00January 10th, 2019|Corporate & Partnership Tax, Entrepreneurs, News & Events, SALT|

The following article was written by JMF Shareholder Kim Smith for the Alabama Retail Association's February issue of Alabama Retailer magazine.  We are re-posting it here with their permission. Wayfair Printable Story AL Retailer February 2019 By:  Kim Smith, CPA, Tax Shareholder Kim is a shareholder, a member of the JMF Tax Department and in charge of [...]

What does the Wayfair Supreme Court decision mean for Alabama?

By |2019-01-10T23:14:58+00:00July 12th, 2018|Corporate & Partnership Tax, Entrepreneurs, News & Events, Press Releases, SALT|

UPDATED WayFair post from January 2018 for new information: Wayfair: We’ve Got Just What You Need (to Know) By:  Jennifer Stripling, Tax Manager Jennifer is a tax manager, a member of the JMF Tax Department and in an integral part of the JMF State and Local Tax (SALT) group.  With over 11 years of experience, she assists clients [...]

ADOR Launches Tax Amnesty Website

By |2018-05-23T15:40:08+00:00May 23rd, 2018|Corporate & Partnership Tax, Individual Tax, News & Events, SALT|

The Alabama Department of Revenue (ADOR) has launched alabamataxamnesty.com, a website dedicated to the Alabama Tax Delinquency Amnesty Program of 2018. The program begins July 1st and runs through September 30, 2018.  Please note that to be eligible, the taxpayer may not have been previously contacted by ADOR (within the last two years) to file returns.  Most [...]

Alabama’s Tax Credit for Taxes Paid to Other States

By |2018-04-03T15:26:27+00:00April 3rd, 2018|Corporate & Partnership Tax, Individual Tax, News & Events, SALT|

The Alabama Legislature passed HB 384 last week and Governor signed it into law.  This bill is the "Moody fix”.  Basically, the law codifies the form changes ADOR made in 2013 based on a Regulation change rather than a change in the Statute.  The bill also provides for taxpayers to receive refunds for 2013 (assuming [...]

Shareholder Kim Smith Added to Selma and Dallas County Economic Development Authority

By |2018-01-17T21:39:24+00:00January 17th, 2018|News & Events, Press Releases, SALT|

Selma, Alabama – JamisonMoneyFarmer (JMF) Shareholder Kim Smith was elected to the Selma and Dallas County Economic Development Authority Board of Directors.  She will act as Secretary/Treasurer.  Kim is the lead shareholder in the JMF office in Selma. Kim and her husband Ken Smith live in Valley Grande outside of Selma and she is [...]

October 31st Filing Requirement: Reporting for Entities Exempt from Sales Tax

By |2018-01-11T20:50:15+00:00October 20th, 2017|News & Events, SALT|

By:  Jennifer Stripling, Tax Manager Jennifer is a tax manager, a member of the JMF Tax Department and in an integral part of the JMF State and Local Tax (SALT) group.  With over 11 years of experience, she assists clients with corporate, partnership, and individual income tax reporting as well as complex multi-state income and sales tax [...]

Common Mistakes Foreign Direct Investors Make Entering The US and Alabama

By |2018-01-11T20:51:29+00:00August 22nd, 2017|International, Manufacturing, News & Events, SALT|

The JamisonMoneyFarmer International Practice Group works with many foreign-owned companies on a variety of tax and accounting issues.  As part of our recent US German Alliance meeting in Tuscaloosa, one of the sessions included a discussion about “Common Mistakes Foreign Direct Investors Make Entering the United States”.  We have summarized that discussion as it [...]

 “Bright-Line” Income Tax Nexus Standard for Businesses

By |2017-06-19T21:22:10+00:00June 19th, 2017|Corporate & Partnership Tax, Manufacturing, News & Events, SALT|

By:  Jennifer Stripling, Tax Manager Jennifer is a tax manager, a member of the JMF Tax Department and in an integral part of the JMF State and Local Tax (SALT) group.  With over 11 years of experience, she assists clients with corporate, partnership, and individual income tax reporting as well as complex multi-state income and sales [...]