The JMF Advisors Show: Recent Episodes
JMF
The JMF Advisors Show is a podcast for business owners, c-suite executives, and entrepreneurs who are looking to build, grow, or even exit a business. We bring in some of our best financial advisors to interview experts on business best practices, hot topics, and sprinkle in some tax and accounting help. If you are a business owner, start-up founder, CFO, or just starting your side hustle, this podcast is for you. JamisonMoneyFarmer PC has been helping closely held businesses and successful individuals for over 100 years. The firm was started in downtown Tuscaloosa, Alabama in 1920, and we o
This episode discusses the ins and outs of changing or re-establishing your state tax domicile. Most of the time those changes are driven by job changes or retirement. And with today's remote work environment, this is issue comes up quite a bit.There are eight states with no income tax - Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming.Domicile is established by the “intent” of the taxpayer and you must abandon old domicile and have intent to establish residence in new state, most commonly shown by:• New Driver’s License• Registering to vote• Transfer bank accounts• Register vehicles• Create or establish church or civic relations• In case of 2 homes, change where homestead exemption is claimed It is important to discuss the income tax consequences of changing domicile with your JMF professional. You should make sure you discuss all of the facts and circumstances surrounding your move and make sure you are aware of the steps necessary to determine domicile and the documentation required upon audit to prove the change in domicile.Hosts: JamisonMoneyFarmer PC CPAs Kristi Moore and Kim SmithWe are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification. Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: https://twitter.com/JMFCPAs Phone: 205-345-8440Subscribe:YouTube https://www.youtube.com/channel/UCwrS6kH6DmmY0YZDzkye6fw/subscribeSpotify https://open.spotify.com/show/6KpZxKIgBXYzJ71cNhi43QApple https://podcasts.apple.com/us/podcast/the-jmf-advisors-show/id1646676935
Rachel hosts Blake Madison about the new Corporate Transparency Act aka "CTA". The discussion covers Beneficial Ownership Information (BOI), management team members that might have substantial control, those filing requirements, and the exemptions criteria.Host: JamisonMoneyFarmer PC CPA Rachel TaylorGuest: Blake Madison of Rosen Harwood practices primarily in the areas of business, corporate, and commercial law; state and local taxation; nonprofit entities; health care compliance; and privacy and cyber security law. He is a frequent speaker on state and local tax, non-profit legal issues, and ethics matters. FINCEN Small Business Resources: https://www.fincen.gov/boi/small-business-resourcesWe are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification. Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: @jmfcpas Phone: 205-345-8440Subscribe:YouTube https://www.youtube.com/channel/UCwrS6kH6DmmY0YZDzkye6fw/subscribeSpotify https://open.spotify.com/show/6KpZxKIgBXYzJ71cNhi43QApple https://podcasts.apple.com/us/podcast/the-jmf-advisors-show/id1646676935
Rachel and Kristi focus this week's episode on the sunsetting tax provisions of the Tax Cuts and Jobs Act (#TCJA) of 2017 which are slated to go away at the end of the 2025 tax year.We cover #business #tax topics like bonus depreciation, QBI, and the corporate rate which will not change with the TCJA sunset. On the personal or individual tax side, we cover the child tax credit, income tax brackets, the new standard deduction and the return of the personal exemption, and many of the itemized deduction changes like the SALT deduction and the mortgage interest changes.The TCJA effectively doubled the estate tax exclusion in 2017. For 2024, the amount is $13.61 million per individual. In 2026, the exclusion will be cut roughly in half. This is a great planning opportunity! Hosts: JamisonMoneyFarmer PC CPAs Rachel Taylor and Kristi MooreWe are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification. Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: https://twitter.com/JMFCPAs Phone: 205-345-8440Subscribe:YouTube https://www.youtube.com/channel/UCwrS6kH6DmmY0YZDzkye6fw/subscribeSpotify https://open.spotify.com/show/6KpZxKIgBXYzJ71cNhi43QApple https://podcasts.apple.com/us/podcast/the-jmf-advisors-show/id1646676935
Today's show covers several family legacy issues including the importance of wills, healthcare power of attorney, advanced directives and living wills, and the financial power of attorney.Host: JamisonMoneyFarmer PC CPA Orman Wilson Guest: Emilee Scheeff of Rosen Harwood practices regularly in the areas of business, corporate, and commercial law; state and local taxation; estate planning; wealth and asset protection; and business succession planning. She also regularly assists clients with navigating the probate process after the death of a loved one.We are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification. Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: @jmfcpas Phone: 205-345-8440Subscribe:YouTube https://www.youtube.com/channel/UCwrS6kH6DmmY0YZDzkye6fw/subscribeSpotify https://open.spotify.com/show/6KpZxKIgBXYzJ71cNhi43QApple https://podcasts.apple.com/us/podcast/the-jmf-advisors-show/id1646676935
Today's show is a deep dive into preparing your business for sale. Carl and Bobby bring their experiences with businesses that have sold and bring in Zane for the perspective of an investment banker (who has also been a founder who sold his business). The wide ranging discussion touches on the most important items for business owners to work on if they are on a five-year exit time horizon, how business owners can get their business to “investment grade”, some of the biggest mistakes business owners can make.Zane also adds some of the most interesting current trends that private company sales, and how to create a Structured Sales Process. Host: JamisonMoneyFarmer PC CPAs Bobby Bragg and Carl JamisonGuest: Zane Tarence, Partner and Head of Founders Advisors’ Technology and Business Services Group, is an experienced investment banker, entrepreneur and recognized expert on the growth and monetization of digital media, internet technology and software companies. Zane has authored the book titled. “17 Reasons Your Company Is Not Investment Grade & What To Do About It“. https://www.17-reasons.com/We are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification. Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: @jmfcpas Phone: 205-345-8440Subscribe:YouTube https://www.youtube.com/channel/UCwrS6kH6DmmY0YZDzkye6fw/subscribeSpotify https://open.spotify.com/show/6KpZxKIgBXYzJ71cNhi43QApple https://podcasts.apple.com/us/podcast/the-jmf-advisors-show/id1646676935
Carl Jamison hosts two policy advocates for our community to discuss the most impactful legislative wins for Alabama businesses. Much of the discussion is about the "Working for Alabama" bundle of bills which addresses many issues, including education, child care and workforce housing.As a business owner in Alabama, you should be aware of these economic development changes as they are many different tax credits for your company. It also creates the Alabama Growth Alliance, a public corporation that will provide input and support on economic development, such as increasing private investment in the state and promoting opportunities for minority-owned businesses.Host: JamisonMoneyFarmer PC CPA Carl JamisonGuests: The Chamber of Commerce of West Alabama's President and CEO Kyle South and the Business Council of Alabama's Executive Vice President Clay ScofieldWe are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification. Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: https://twitter.com/JMFCPAs Phone: 205-345-8440Subscribe:YouTube https://www.youtube.com/channel/UCwrS6kH6DmmY0YZDzkye6fw/subscribeSpotify https://open.spotify.com/show/6KpZxKIgBXYzJ71cNhi43QApple https://podcasts.apple.com/us/podcast/the-jmf-advisors-show/id1646676935
Thornton Jamison hosts labor law specialist David Hughes to discuss the latest changes with some employment labor laws affecting businesses and their owners.The podcast covers topics such as the FSLA, new overtime regulations, the differences between exempt and non-exempt employees, the EEO data collection, and employee handouts.Related Overtime "OT" blog post: https://jmf.com/2024/05/navigating-change-understanding-the-latest-overtime-regulations/ Changes go into effect on July 1, 2024 and then change again January 1, 2025 Host: JamisonMoneyFarmer PC Thornton JamisonGuests: David Hughes of law firm Hardin and HughesWe are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification. Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: https://twitter.com/JMFCPAs Phone: 205-345-8440Subscribe:YouTube https://www.youtube.com/channel/UCwrS6kH6DmmY0YZDzkye6fw/subscribeSpotify https://open.spotify.com/show/6KpZxKIgBXYzJ71cNhi43QApple https://podcasts.apple.com/us/podcast/the-jmf-advisors-show/id1646676935
This week's episode focuses on maximizing #tax deductions, which can potentially lower your tax bill. The topics include recent rule changes for meals and entertainment, dues, and automobile deductions.We also explore employing your children as a business owner, pass through entity taxes, and #costsegregation studies.Hosts: JamisonMoneyFarmer PC CPAs Bobby Bragg and Kim Smith We are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification. Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: https://twitter.com/JMFCPAs Phone: 205-345-8440
Our tax accountants discuss tracking using Schedule Cs on Form 1040 to report income or loss from a business you operated or a profession you practiced as a sole proprietor. We cover using bank accounts and credit cards to track income and expenses; Excel or #QuickBooks options, and reconciling accounts.
We also talk about 1099-NEC and W-9 income, grouping expenses by type, and then other hot topic expenses like #automotive rules, meals, #homeoffice deductions, self-employed health, and SEP-IRA retirement plans.
Hosts: JamisonMoneyFarmer PC CPAs Lauren Roberts and Kristi Moore
We are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification.
Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: https://twitter.com/JMFCPAs Phone: 205-345-8440
Forty percent of all US small businesses are owned by Baby Boomers, and about 10,000 of them are retiring daily. That translates into a lot of businesses being bought and sold. If you are thinking about potentially selling your business, this is the podcast for you.Topics include Asset Sales vs. Stock sales, purchase prices allocations, seller financing, installment sales, and even how companies are valued.Hosts: JamisonMoneyFarmer PC CPAs Bobby Bragg and Carl JamisonWe are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification. Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: https://twitter.com/JMFCPAs Phone: 205-345-8440
If you have questions about the Form 1040 aka the US Individual Income #tax return, then we have answers.
We touch on the 2 year rule for #houseflippers, mortgage interest rules, and #energyefficient improvements. In addition, we talk about #rentalproperty investments, passive activity losses, and even #homeoffice and commuting rules.
Hosts: JamisonMoneyFarmer PC CPAs Lauren Roberts and Rachel Taylor
We are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification.
Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: https://twitter.com/JMFCPAs Phone: 205-345-8440
Our hosts discuss the common law factors that drive the the answer to whether someone is an employee or an independent contractor.
Show Notes: From Alabama Department of Labor list of Common Law Factors: https://labor.alabama.gov/uc/COMMON_LAW_FACTORS_WITH_EXAMPLES.pdf
Prior relevant podcast mentioned: Who gets a 1099 and why? https://youtu.be/0ufUAt6B_6U
Hosts: JamisonMoneyFarmer PC CPAs Rachel Taylor and Kim Smith
We are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification.
Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: https://twitter.com/JMFCPAs Phone: 205-345-8440
Host: JamisonMoneyFarmer PC CPAs Rachel Taylor Guest: Marland Hayes of HayesIngram LLC focuses on commercial financing, bond finance, acquisitions, commercial real estate, industrial incentives, environmental and corporate issues, and represents multifamily-housing and mixed-use developers in acquisitions, financings and operations.
We are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification.
Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: https://twitter.com/JMFCPAs Phone: 205-345-8440
Kim and Andrew go over the nuts and bolts of insurance and bonding needs for contractors and subcontractors. Andrew covers general business liability coverage, worker's compensation plans, commercial auto, and excess liability or umbrella policies.
There are construction-specific insurance needs like builder's risk policies, equipment policies, and contractor's E&O (errors and omissions) policies.
Show Notes: Contractor Bonding Requirements: https://jmf.com/2023/06/things-you-need-to-get-you-bonded/
Hosts: JamisonMoneyFarmer PC CPA Kim Smith
Guest: Andrew Hudson, CIC, President of Pritchett-Moore. Andrew joined Pritchett-Moore, Inc. in 2001 as an agent specializing in commercial, personal, life insurance and bonding. He is a well recognized leader in the insurance and bonding industries.
We are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification.
Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: https://twitter.com/JMFCPAs Phone: 205-345-8440
Our hosts discuss the emergence of side hustles and even full-time careers as social media influencers and gig workers, and the tax considerations for those taxpayers. We cover 1099s - who gets them and why, self employment taxes, and if free gifts for influencers are taxable. We also cover what's deductible from 1099 income. In addition, there is a discussion sales tax remittance requirements for internet retailers.
The items in this video are also important for #NIL and #nameimagelikeness student athletes, as well.
Show Notes: Sales Tax Economic Nexus by State https://jmf.com/wp-content/uploads/Sales-Tax-Economic-Nexus-by-State-Updated-June-2023.pdf
Hosts: JamisonMoneyFarmer PC CPAs Kristi Moore and Bobby Bragg
Show Notes: Sales Tax Economic Nexus by State - http://www.jmf.com/wp-content/uploads/JMF-Sales-Tax-Nexus-by-State-Chart.pdf Prior Deep Dive Podcast on State and Local Taxes - https://youtu.be/6b5nhsLm2fg
We are having a general business conversation and we are human so not every detail, example, or exception might be an exact match to your circumstances or understanding, so please don’t hesitate to reach out for help or clarification.
Connect with Us: Web: www.JMF.com Email: info@JMF.com Twitter: https://twitter.com/JMFCPAs Phone: 205-345-8440
If you have foreign income, foreign financial assets, or own foreign business interests, this is the podcast
for you. Lauren and Viki discuss the most widely faced issues for US nationals who work outside the
country and foreign nationals who are working in the States for an extended period of time. Those
topics include worldwide income, substantial presence tests, non-resident returns, FBAR reporting, tax
treaties, and the penalties associated with these requirements.
Hosts: JamisonMoneyFarmer PC CPAs Lauren Roberts and Viki Gryska
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Our hosts discuss Identity Theft and business Cyber threats and the best practices businesses and
individuals can do to protect themselves. Josh Angel mentions multi-factor authentication (MFA),
password management, the balance of security and usability for business owners, phishing attempts,
spam filters, “human firewalls”, and patch management.
Hosts: JamisonMoneyFarmer PC CPAs Bobby Bragg and Josh Angel from JMF Technologies
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Our Timber and Natural Resources practice group leader Orman Wilson talks with Rachel Taylor about
most of the basics for owning timber land and how it is taxed. They touch on the most common ways to
calculate your tax basis of land and timber, timber farming, a forestry management plan, and estate and
inheritance strategies around timber.
Orman has spoken to many Alabama land owner groups and foresters on various timber tax issues
over the years. He brings a bunch of knowledge and a great sense of humor. They cover a lot of
ground in this episode.
Hosts: JamisonMoneyFarmer PC CPAs Rachel Taylor and Orman Wilson
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Lauren and Kim share some war stories about unfortunate tax situations that we like our clients to
avoid, or in other words, Tax Bloopers! We touch on income tax withholding issues, self-
employment taxes, like kind exchanges, cashing out 401(k)s, and QCDS (qualified charitable
distributions).
Other topics include initial business tax returns, closing entities and the related final tax return,
unusual cash proceeds like business interruption insurance, lottery, inheritance, etc., and late filing
penalties.
Hosts: JamisonMoneyFarmer PC CPAs Lauren Roberts and Kim Smith
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Our Accounting and Audit heads Lynn Osborn and Dan Johnson take a deep dive into the new lease
accounting standards for financial statements. For the standard nerds, that’s ASC 842.
Topics include capital leases, which are now called financing leases, operating leases, right of use assets,
and the potential to restructure leases.
Hosts: JamisonMoneyFarmer PC CPAs Lynn Osborn and Dan Johnson
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Kim and Blake discuss many of the hot topics related to state and local tax issues for business owners.
They cover the Wayfair case, sales tax thresholds, and nexus questionnaires. Did you know many new
remote workers who are out of state can create SALT issues for the employer?
Our crew also discusses potential strategies in tax controversy cases, the Alabama Tax Tribunal, and
audit focus for municipal business licenses.
Hosts: JamisonMoneyFarmer PC CPA Kim Smith
Guest: Blake Madison of Rosen Harwood practices primarily in the areas of business, corporate, and
commercial law; state and local taxation; nonprofit entities; health care compliance; and privacy and
cyber security law. He is a frequent speaker on state and local tax, non-profit legal issues, and ethics
matters.
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Viki Gryska, a tax manager from our International practice group, and Bobby Bragg talk to Sean King
about the opportunities and issues related to companies coming into the US (inbound) and
companies going out to new foreign markets (outbound).
We tackle myths for structuring options for inbound companies investing in the US, also known as
Foreign Direct Investors, and capitalization options for that new entity. The discussion also touches
on tax nexus, choice of entity decisions, transfer pricing and the effects of new legislation for
multinational companies.
Hosts: JamisonMoneyFarmer PC CPAs Viki Gryska and Bobby Bragg
Guest: Sean King, Align Global Consulting
Sean King is a renowned legal, tax and business advisor who brings to his clients not only technical
expertise, but also a cultural and commercial awareness that can only be gained by living and
working in numerous countries and on multiple continents. For more than twenty years, Sean has
been counseling organizations ranging from emerging growth companies to one of the world’s
largest private equity firms with more than US $40 billion under management.
Sean focuses on international corporate structuring for both the outbound operations of U.S.
multinationals and the inbound operations of foreign multinationals. This includes advice on
structuring cross-border ventures, mergers and acquisitions, supply chain management, cross-border
financing, and transfer pricing matters, including the international licensing of intellectual property.
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Potential Short clip: Tax Planning Nirvana 13:45-16:00
Over the course of our first several months of podcasting, we got a lot of common questions so we
put them all in a viewer mailbag show. Bobby Bragg asks Rachel Taylor and Lauren Roberts your
questions:
What these Tax Organizers are that you send us every year?
What are all of the things you can do electronically with JMF?
When should we plan to get your JMF CPA our tax information?
What is a business expense?
How long should I keep my tax returns and back-up information?
When do I need to file a gift tax return and what are the gift limits?
Why do I need to make estimated tax payments?
What is an RMD and why is it important?
What is an QCD and how does it relate to RMDs?
Why do you suggest setting up an IRS account?
Why do you suggest setting up an Alabama MAT account?
Can you explain the current set of education tax opportunities and credits like 529 plans, prepaid
tuitions?
Hosts: JamisonMoneyFarmer PC CPAs Bobby Bragg, Rachel Taylor, and Lauren Roberts
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
JMF tax shareholders Carl Jamison and Rachel Taylor look forward to discuss some of the potential
new tax legislation items in the 2023 year which may affect many taxpayers. In addition, they focus
on the new tax items that we know will change in 2023, like inflation adjustments for tax brackets,
standard deductions, maximum unearned income limits, and estate tax limits.
Other 2023 tax changes include bonus depreciation phase-out rules, 199A deductions, Alabama
Business Privilege Tax returns, and Alabama bracket changes.
Hosts: JamisonMoneyFarmer PC CPAs Carl Jamison and Rachel Taylor
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Rachel provides insights for all taxpayers to get prepared for tax season. Start early and be
organized is a great start! Rachel also touches on some great ways to send documents
electronically and securely back and forth with your accountant. You can also e-sign your
returns, and use our client portals.
Host: JamisonMoneyFarmer PC CPA Bobby Bragg and Rachel Taylor
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Rachel and Bobby discuss some of the best tax maneuvers that businesses can make by the end of
the tax year to minimize their tax bill. This discussion includes bonus depreciation changes starting in
2023, Section 179 expenses, inventory counts, and accounts receivable collectability. Rachel also
discusses the timing of employee and owner bonuses.
Host: JamisonMoneyFarmer PC CPA Bobby Bragg and Rachel Taylor
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Jennifer and Bobby are joined by Dave McGuire to discuss cost segregation. David is a leading
expert on cost segregation, fixed assets and depreciation law and a co-founder of McGuire
Sponsel. He has reviewed real estate portfolios ranging in size from six-figure acquisition costs
to billions of dollars in value and has provided cost segregation services for companies in a wide
variety of industries.
What is a cost segregation study? When acquiring, renovating or building real estate, most taxpayers
tend to overstate the amount of 39-year real property. This limits the depreciation deductions
available to taxpayers in the early stages of their investment. A cost segregation solves this problem
by reclassifying assets by maximizing the property eligible for treatment as 5-, 7- or 15-year property.
This depreciation optimization frees up substantial cash flow.
Host: JamisonMoneyFarmer PC CPAs Jennifer Stripling and Bobby Ingram
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Rachel and Bobby discuss some of the best tax maneuvers individual US tax payers can make by the
end of the tax year to minimize their own tax bill. The topics cover major life changes from a tax
perspective, income tax withholdings, charitable contributions, and the standard deduction. There is
also a discussion about required minimum distributions and related law changes.
Hosts: JamisonMoneyFarmer PC CPA Bobby Bragg and Rachel Taylor
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Orman Wilson is joined by estate attorney Emilee Scheeff to discuss family estate planning ideas. Topics
range from things to consider when drafting a will, burial arrangements, estate tax returns, and gift
returns. There are so many decisions to make when a loved one passes, and this podcast offers many
items to consider at that critical time.
JMF Checklist for Families when dealing with a death: https://JMF.com/wp-content/uploads/What-to-
do-when-a-family-member-dies-UPDATED-2022.pdf
Host: JamisonMoneyFarmer PC CPA Orman Wilson
Guest: Emilee Scheeff of Rosen Harwood practices regularly in the areas of business, corporate, and
commercial law; state and local taxation; estate planning; wealth and asset protection; and business
succession planning. She also regularly assists clients with navigating the probate process after the
death of a loved one.
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Carl and Bobby are joined by guest Alex Flachsbart of OPAL or Opportunity Alabama.
“Opportunity Zones” were created in the Tax Cuts and Jobs Act of 2017. Tax nerds call that the TCJA.
It’s hard to believe that we are now almost five full years from their creation. These zones encourage
private sector investment in low-income community businesses and real estate which are inside defined
census tract lines throughout the United States.
This tax code allows any taxpayer to defer capital gains until the earlier of the date on which the
opportunity zone investment is sold or December 31, 2026 on the sale of any property to unrelated
taxpayers by investing the gain in a qualified Opportunity Fund. That fund then must invest at least 90%
of its assets, directly or indirectly, in businesses located in certain low-income communities designated
as Opportunity Zones. If the OZ investment is held for 10 or more years, there will be no tax on the
appreciation of the OZ investment.
There have been plenty of rule updates and guidance since 2017, so please check out the JMF blog for
specific guidance and links to other resources.
Hosts: JamisonMoneyFarmer PC CPAs Bobby Bragg and Carl Jamison
Guest: Alex Flachsbart is the Founder and CEO of Opportunity Alabama, Inc., a 501(c)(3) organization
dedicated to creating an impact-based Opportunity Zones ecosystem to provide access to capital to
Alabama’s low-income communities. Prior to founding OPAL, Alex was a corporate attorney for several
years with Balch & Bingham LLP in Birmingham, Alabama, specializing in tax credit and economic
development-related work.
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
The Research and Development (R&D) tax credit continues to provide one of the best opportunities for
US businesses to reduce their tax liability substantially. Companies from various industries can qualify
for this government-sponsored tax benefit just by performing their day-to-day activities.
Many businesses are still unaware that R&D credit eligibility extends beyond product development to
include activities such as the latest manufacturing methods, software development, and quality
improvements. Even start-ups may be able to utilize the R&D credit against their payroll tax for up to 5
years.
So, if your company does any of the following, your business likely qualifies for the research and
development credit:
Develops or designs new products or processes
Enhances existing products or processes
Improves upon existing prototypes and software
Hosts: JamisonMoneyFarmer PC CPAs Carl Jamison and Rachel Taylor
Guest: Tyler Noesser of alliantgroup, whose mission is to help industry organizations, U.S. businesses
and the CPA firms that advise them, take full advantage of all federal and state tax credits,
incentives and deductions available to them.
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Lauren and Kim discuss IRS notices and the best ways to avoid them! These two tax accountants
share war stories on IRS notices, including some of the most common reasons notices are triggered
and how to create an IRS online account. And of course, IRS scams - beware!
Hosts: JamisonMoneyFarmer PC CPAs Lauren Roberts and Kim Smith
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Kim and Bobby discuss starting a new business, whether entrepreneurs go from a side hustle to a full-
blown new company. We touch on The Edge, one of West Alabama’s business incubators, and touch on
the pros and cons of sole proprietorships, LLCs or Limited Liability Corporations, S corporations, and C
corporations.
After figuring out the correct entity formation for your business, we walk you through getting a Federal
EIN (employer identification number), the Secretary of State filings, the Alabama initial business
privilege tax return, and business licenses.
Hosts: JamisonMoneyFarmer PC CPAs Kim Smith and Bobby Bragg
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Lauren and Jennifer discuss all things related to the 1099, including the news rules for getting paid
through Venmo and PayPal (actually all third-party processors). The most common 1099s are the 1099-
NEC, 1099-MISC, and 1099-K.
Hosts: JamisonMoneyFarmer PC CPAs Lauren Roberts and Jennifer Stripling
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
Carl and Kristi discuss the Employee Retention Tax Credit (ERC) with guest Shannon Scott of OnCentive.
The ERC is a refundable tax credit designed to reward business owners for retaining employees
throughout the COVID-19 pandemic. The Employee Retention Credit is available to both small- and mid-
sized businesses. It was a part of the CARES Act in 2020, and was significantly expanded in 2021.
Business owners impacted by COVID-19 can claim up to $5,000 in refundable tax credits for each
employee on their payroll in 2020 and up to a $7,000 credit per quarter (excluding Q4) for each
employee in 2021, for a potential maximum credit of $26,000 per employee.
Hosts: JamisonMoneyFarmer PC CPAs Carl Jamison and Kristi Moore
Guest: Shannon Scott is the Chief Executive Officer of OnCentive. Shannon is considered one of the
premier experts in the tax credit industry with over 20 years’ experience and consults the House Ways
and Means and Senate Finance Committee’s on business incentive and tax credit programs.
We are having a general business conversation and we are human so not every detail, example, or
exception might be an exact match to your circumstances or understanding, so please don’t hesitate to
reach out for help or clarification.
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440
The JMF Advisors Show is a podcast for business owners, c-suite executives, and entrepreneurs who
are looking to build, grow, or even exit a business. We bring in some of our best financial advisors to
interview experts on business best practices, hot topics, and sprinkle in some tax and accounting
help. If you are a business owner, start-up founder, CFO, or just starting your side hustle, this
podcast is for you.
JamisonMoneyFarmer PC has been helping closely held businesses and successful individuals for over
100 years. The firm was started in downtown Tuscaloosa, Alabama in 1920, and we offer business
planning, tax, accounting, wealth management, and technology services to clients like you. If you
would like us to help your business, simply send an email to info@JMF.com.
Rotating Hosts: Bobby Bragg, Carl Jamison, Kim Smith
Connect with Us:
Web: www.JMF.com
Email: info@JMF.com
Twitter: https://twitter.com/JMFCPAs
Phone: 205-345-8440