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Alabama 2024 Annual Report Changes

For corporate entities registered with the Alabama Secretary of State (ALSOS), beginning January 1, 2024, the ALSOS Corporation Annual Report is no longer reported with the Annual Business Privilege Tax

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Alabama Sales Tax Rate Reduction on Food Effective as of September 1, 2023

Alabama recently updated the state-level sales tax rate on food, reducing it from 4% to 3%, effective September 1, 2023. This does not affect local jurisdiction rates such as city

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Tax Treatment of Research and Experimental Expenses For 2022 Tax Filings

Written by Sarah Shirley The 2017 Tax Cuts and Jobs Act (TCJA) is the gift that keeps on giving, continuing to create significant challenges for taxpayers and their advisors in

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Reasons to Consider Extending Your Tax Return

Written by Drew Nicol, CPA Tax season is upon us once again. Many taxpayers have begun closing out year-end books and started gathering documents in order to prepare for the

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Alabama Retirees to See Tax Cut in 2023

Written by Drew Nicol, CPA Earlier this year, Governor Kay Ivey signed HB162 into law which exempts the first $6,000 of retirement income received by individuals aged 65 and older

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Name, Image and Likeness Collides with Taxes

Written by Cooper Melvin, J.D., CPA Background Name, Image and Likenesses (NIL) has been in the news – sports media and generally – in a significant way since the summer

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IRS Dirty Dozen List and Other Audit Triggers

Earlier this year, the IRS released its 2022 Dirty Dozen, the top twelve scams or potentially abusive transactions that could trigger an audit. This list is not exclusive and is

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