Alabama

What You Need to Know About IRS Scam Calls

This summer has seen an uptick in IRS scam calls, and an evolution of strategies from the scammers themselves. We have received many calls and e-mails attempting to verify whether or not a call is legitimate, and most have unfortunately been fraudulent. On August 2nd, the IRS released a bulletin in which Commissioner John Koskinen…
Read More

Use Tax Compliance for Business Owners

Business owners pay many different kinds of taxes every year. Of those taxes, sales tax is probably the easiest to understand. If a business owner buys $100 in dental supplies and the tax rate is 10%, then the business owner pays an extra $10 to cover the tax. The vendor collects and pays the sales…
Read More

The Impact of New Overtime Laws

July 6, 2015 brought news from the Department of Labor of proposed legislation that could drastically alter the way many employers pay overtime. The proposal would raise the threshold at which certain employees qualify for overtime coverage under the Fair Labor Standards Act. As the current law stands, most workers are no longer eligible for…
Read More

Electronic Tax Payment Options

In recent years, the U.S. Treasury and Alabama Department of Revenue have become more accommodating to different tax payment methods. While the availability of bank draft and credit card payment options is nothing new, these methods are now available for free. Instead of fighting the tax day traffic at the post office, you can now…
Read More

Itemized Deductions from A to Z, Part 12: Job Expenses and Miscellaneous Deductions

This is part twelve in our series on Itemized Deductions. To read the rest of the series, click here. For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website. We’re almost done with our series on itemized deductions. The final sections we’ll cover…
Read More

Itemized Deductions from A to Z, Part 11: Some Rules Regarding Casualty and Theft Losses

This is part eleven  in our series on Itemized Deductions. To read the rest of the series, click here. For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website. Thankfully, we don’t see a lot of casualty and theft losses. For a casualty…
Read More

Itemized Deductions from A to Z, Part 10: Charitable Limitations and Carryovers

This is part ten in our series on Itemized Deductions. To read the rest of the series, click here. For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website. Your adjusted gross income (last line on page 1 of Form 1040) serves as…
Read More

Tax Extenders Law Passes…Finally!

After a long wait, Congress has finally passed a law that extends many popular tax provisions into 2014. These provisions, commonly known as “extenders”, have been hanging in limbo since they expired at the end of last year. The President still needs to sign the bill, but we expect that to happen any day now….
Read More

Itemized Deductions from A to Z, Part 9: Motorized Donations

This is part nine in our series on Itemized Deductions. To read the rest of the series, click here. For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website. Donating a car, boat or airplane can be complicated, depending upon the value and…
Read More