Individual Tax

/Individual Tax
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Fighting Identity Theft: Alabama Department of Revenue Employs New Measures

By |February 2nd, 2016|Individual Tax, News & Events, SALT|

By:  Kim Smith, CPA, Tax Shareholder Kim is a shareholder, a member of the JMF Tax Department and in charge of the JMF State and Local Tax (SALT) group.  With over 20 years of experience, she assists clients with corporate, partnership, and individual income tax reporting as well as complex multi-state income and sales tax [...]

Get Organized for Tax Time

By |February 1st, 2016|Individual Tax, News & Events, Press Releases|

1) Set up a file (or box) for your 2015 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 [...]

Three ACA Provisions Put on Hold

By |January 31st, 2016|Corporate & Partnership Tax, Individual Tax|

The PATH Act includes three significant changes affecting provisions in the Affordable Care Act (ACA). The tax on high-cost Cadillac health insurance plans is delayed for two years, from 2018 to 2020. The 2.3% excise tax paid by manufacturers of medical devices is halted for 2016 and 2017. There’s a moratorium for one year—until 2017—on [...]

Understanding the Protecting Americans from Tax Hikes (PATH) Act of 2015

By |December 18th, 2015|Corporate & Partnership Tax, Individual Tax, News & Events|

By: Rachel Taylor, CGMA, CPA, Tax Manager Rachel is a member of the JMF Tax Department. With more than seven years of experience in public accounting, she assists clients with corporate, partnership, and individual income tax return reporting as well as complex issues regarding multiple state filing and other state tax issues. Late on Tuesday, December [...]

Let Us Help You Tax Plan Before Year – End

By |December 8th, 2015|Corporate & Partnership Tax, Individual Tax, News & Events, Press Releases|

As we begin to wrap up 2015, tax season is right around the corner. We have created this letter to assist you with certain items you should consider such as estimating your income for 2015 to funding your retirement plan. Click here to download and read your 2015 Year - End Tax Planning Letter Topics [...]

Updates on Alabama Accountability Act

By |July 21st, 2015|Corporate & Partnership Tax, Individual Tax, SALT|

Happening now: Contributions for the 2014 tax year can still be made up to the extended due date of the tax return, October 15, 2015, or until the designated limit is reached, whichever comes first. You’re not out of luck if you have already filed. You can amend to take the credit as long as [...]

Everything U.S. Expats Need to Know About IRS Tax Forms (But Were Afraid to Ask)

By |March 16th, 2015|Individual Tax, International, News & Events|

As an American living overseas, each year you have to gather the information required to file a U.S. return.  Unlike your compatriots, residing across the pond comes with its own process: complicated and with more risk and penalties.  The following article sheds light on the expat, tax forms you will need in order to file your return. This is the [...]

Tax Tips for Forest Landowners for the 2014 Tax Year

By |January 13th, 2015|Corporate & Partnership Tax, Individual Tax, News & Events, Timber|

Linda Wang of the United States Department of Agriculture has created a summary of the newest tax laws related to timber. Tax laws on timber transactions are very specialized knowledge that are not commonly known. Yet they are important to timber owners in terms of the ongoing cost of owning and managing timber, forest stewardship [...]

Are you moving out of state? Changing addresses could change your taxes

By |December 16th, 2014|Corporate & Partnership Tax, Individual Tax, News & Events|

Are you retiring and moving to Florida or relocating due to a new job?  If you are moving out of state, the following article will assist you in what you need to consider with regard to documenting and reporting your change in address as well as income tax consequences.    Click the link to read the full [...]

IRS Phone Scams Remain a Threat

By |September 11th, 2014|Corporate & Partnership Tax, Individual Tax, News & Events|

Officials Say the Actual IRS Will Never Make First Contact by Phone Con artists posing as Internal Revenue Service agents are back in the news. Despite previous warnings from government officials, some taxpayers still haven't gotten the message. "There are clear warning signs about these scams, which continue at high levels throughout the nation," IRS [...]