What’s Your Small Business Worth?

How to value business interests It is often difficult to put a price tag on a company that is not publicly traded. For instance, the value of a family-owned business will typically exceed the total value of the hard assets such as equipment and inventory. In addition, assigning a value to intangible assets such as [...]

By |September 30th, 2016|Entrepreneurs, News & Events|0 Comments

IRS Issues Proposed Regulations to §2704

It’s fourth and long and time is running out! What’s your game plan?  In 1990, Congress passed code Section 2704 intending to limit the aggressive use of valuation discounts utilized by family owned entities.  Many years and several court losses later, the IRS, in August, issued Proposed Regulations to §2704 that are intended to severely [...]

By |September 15th, 2016|Estate & Trust, Timber|0 Comments

Resources for Saving for College

By: Janet Moore, Shareholder, CPA Janet is the co-manager of the JMF Tax Department, runs the Birmingham office, and serves on the Executive Board. With more than 30 years of experience in public accounting, she assists closely-held businesses and owners with corporate, partnership, and individual income tax planning and reporting, as well as complex issues [...]

By |September 1st, 2016|Individual Tax, News & Events|0 Comments

JMF announces Scott Goldsmith as President and Managing Shareholder

JamisonMoneyFarmer PC (“JMF”) Executive Board Chairman, Carl T. Jamison, announced today that Scott Goldsmith has been elected President and Managing Shareholder of the CPA firm and will assume the position on September 1, 2016. In making the announcement Jamison said, “This is the culmination of a leadership succession process we began two years ago and [...]

By |August 24th, 2016|News & Events, Press Releases|0 Comments

Establish a New SIMPLE Plan for 2016 before the October 1st Deadline

Employers who do not already sponsor a SIMPLE Plan may start one for 2016 no later than three months before the end of the calendar year*. October 1st is the last day to start a SIMPLE Plan and begin making deferrals for 2016. If you have a client interested in establishing a SIMPLE Plan for [...]

By |August 23rd, 2016|News & Events, Pension Admin & Consulting|0 Comments

Giving the “Right Stock” to Charity

Tax rules may affect your donations Do you own shares of stock that you want to contribute to charity? Before you pull the trigger on the donation, make sure that you give away the “right kind” of securities instead of the “wrong kind.” It can make a big difference on your tax return. The conventional [...]

By |August 22nd, 2016|Individual Tax, News & Events|0 Comments

No Applause for Fraud: An Update on Popular Fraud Trends and How to Prevent and Detect Them

By: Kasey Powell, CPA, CPE Kasey is a senior accountant, certified fraud examiner, and a member of the JMF Timber Practice Group.   Kasey Powell Vcard  Kasey Powell LinkedIn Profile This year represents the 20th anniversary of the inaugural Association of Certified Fraud Examiner's (ACFE) Report to the Nation on Occupational Fraud and Abuse: 2016 Global Fraud Study. [...]

Bump Up in Estate Tax Exemption

Under the American Taxpayer Relief Act of 2012 (ATRA), the federal estate-tax exemption is permanently set at $5 million with a top 40% rate. ATRA also provides for inflation indexing of the exemption, beginning in 2013. The figures for the past four years, which show a modest increase for 2016, are as follows: Year                Exemption [...]

By |August 2nd, 2016|Estate & Trust, News & Events|0 Comments

The Rules for Passive Activity Losses (PALs) Are Not Friendly

Do you own investment real estate—say, an apartment building—that you rent out to tenants? Real estate can be a valuable and reliable source of income. Of course, the rental income is subject to tax, but the resulting tax liability may be offset by deductible expenses. In some cases, you might even qualify for a loss. [...]

Can I still make my IRA contribution for 2015?

It’s that time of year and you want to know. Your tax return was extended and you are now preparing the return. The question is, can you still make an IRA contribution? Maybe, but generally the short answer is No. The deadline for making most IRA or Roth IRA contributions is April 15th for the [...]

By |July 12th, 2016|Pension Admin & Consulting|0 Comments