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The Reality of Governor Bentley’s Tax Proposal
Alabama Governor Robert Bentley wants to do away with the deduction for federal taxes on Alabamians’ state income tax returns. We had a young married couple in last week that are just getting started in family life. They have two automobiles, they both work and their combined income was approximately $52,000 ($26,000 each). They also…
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No Weather Delays Here
The ice and sleet predicted by the Winter Storm Warnings appears to be well north and west of us. Temperatures are above freezing here and surrounding areas. At 6:00 am the rain has not yet moved into our area. Our local radio and TV news say no ice on the roads. If you have an…
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Welcome Angela M. King, CPA
Angie is an experienced and diverse certified public accountant with six years CPA firm experience, and fourteen years of accounting work in private industries, including controller and accounting management positions. Her responsibilities include consulting with clients regarding new business setup, QuickBooks training, preparation of financial statements and tax returns for businesses and owners. Tax return…
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Mileage Rates for 2014 and 2015
The Internal Revenue Service today issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 57.5 cents per mile…
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$42 Billion in Temporary Relief to Taxpayers
The House of Representatives voted to revive dozens of U.S. tax breaks that expired December 31, 2013 for this year and set them to expire again on December 31, 2014. The bill now heads to the Senate, where Finance Committee Chairman Ron Wyden has complained that it excludes tax breaks for the health care of laid-off…
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Alabama Department of Revenue Warns Taxpayers of Phone Scam
Montgomery, Nov. 20, 2014— The Alabama Department of Revenue has been made aware of a current scam targeting Alabama taxpayers. Someone claiming to be an employee of the Department of Revenue is making phone calls telling taxpayers they need to pay an amount due immediately. According to Julie Magee, Commissioner of Revenue, this is a…
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Taxpayers are Entitled to Representation
The direct contact provisions of Internal Revenue Code Section 7521 generally require IRS personnel to stop a taxpayer interview whenever a taxpayer requests to consult with a representative, and prohibits IRS personnel from bypassing a qualified representative without supervisory approval once a taxpayer authorizes one to act on his or her behalf and informs the…
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IRS Emails
The facts and circumstances at issue here surrounding the testimony before Congress regarding the lost IRS Emails are of great concern to me. I believe this matter to be every bit as serious as the Watergate scandal. I’m convinced we are witnessing political treachery, abuse of power and government resources at its worst. I’m afraid…
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Cook Awarded CGMA Designation
Birmingham, AL (June 28, 2014) – Gregory J. Cook, owner of Cook & Co. Tax Advisors, has been awarded the Chartered Global Management Accountant (CGMA) designation from the American Institute of CPAs and the Chartered Institute of Management Accountants. The CGMA designation recognizes professionals who have deep understanding of finance and have expanded their business…
