Dear JMF Clients and Friends: As we mentioned in our communication on March 14th, we are in unprecedented times. We wanted to share another update of what JMF is continuing to do to serve our clients while maintaining a safe work environment. This remains a fluid situation and we will continue to communicate with you. [...]
JamisonMoneyFarmer PC oil spill claimants’ team, from left: Bryan Chandler, Lynn Osborn, Bobby Bragg and Joel Lake. Photo by Robert Sutton -From: Business Alabamahttp://www.businessalabama.com/Business-Alabama/May-2013/Who-I-Went-to-When-I-Needed-Help/ Shortly after the Deepwater Horizon oil settlement was reached in the spring of 2012, it was obvious that the amount of work necessary to file the claims by the April 2014 [...]
The BP Settlement Agreement entered into on April 18, 2012, has broad application to most businesses operating anywhere in Alabama, meaning your business may be eligible for a settlement. Eligibility is based upon a gross revenue test with no requirement to prove direct causation. The revenue test is fairly simple but does require analyzing monthly [...]
IRS has made available the new Standard Industry Fare Level (SIFL) rates for the first half of 2012 (January 1 through June 30). The SIFL formula is used in certain instances to determine the value of a noncommercial flight for employment tax purposes. The terminal charge has increased to $44.88 (previously, $43.79). The rate for the first [...]
Property that does not qualify for an immediate tax write-off under Section 179 may qualify for an increased first-year depreciation deduction under bonus depreciation rules. Unlike the Section 179 deduction, there are no restrictions on the amount of qualifying property and there is no taxable income limit. This deduction is equal to 100 percent of [...]
Instead of depreciating an asset over several years, Internal Revenue Code Section 179 allows the expensing of all or a portion of certain qualifying new and used assets in the year placed in service. There are limitations including a business taxable income limit. You cannot claim a Section 179 write-off that would create or [...]
In the spirit of wrapping up 2011, we decided to give you our ten most viewed blog posts of 2011. That means you loved them! 10. Bonus Payments are wages from November 30 9. Alabama’s 529 fund could lower your tax bill from December 20 8. New Home Builder Ad Valorem Tax Reduction Opportunity from [...]
JamisonMoneyFarmer continues to take a leadership role in the business and CPA world in the state of Alabama. After we shared Carl Jamison's work with the Alabama Business Council last week, we are pleased to announce that another JMF shareholder, Leighanne Faught, has been appointed by Governor Robert Bentley, upon confirmation of the Senate, to serve on [...]