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New Legislation On Alabama Overtime Pay Exemption

On June 8, 2023, Governor Kay Ivey passed legislation exempting overtime wages earned by full-time hourly employees from Alabama gross income and consequently from Alabama state income tax.
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Aldridge, Borden & Company Announces Employee Promotions

Aldridge, Borden & Company is pleased to announce several promotions for our employees.
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Aldridge, Borden & Company Names New Partner

Aldridge, Borden & Company is pleased to announce the promotion of Principal Joe Mills, CPA, to Partner
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Aldridge, Borden & Company Names New Partner

Aldridge, Borden & Company is pleased to announce the promotion of Principal Amanda Hines, CPA, to Partner. 
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The Benefits of Effective Marketing in Not-For-Profit Organizations

In this blog, we explain the value effective marketing can bring to a not-for-profit organization.
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Consider the Finer Points of Roth 401(K) Contributions

Many people are familiar with Roth IRAs. These popular retirement accounts feature tax-free withdrawals as long as certain conditions are met. But did you know that employers can offer designated Roth contributions as part of the 401(k) plans they sponsor for employees?
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calculator with 2023 typed out

What You Need to Know About the 1099-K Updates

As Congress has lowered the threshold for receiving a Form 1099-K, more individuals will receive this form for the 2023 tax year. Understanding how to report your 1099-K income correctly is crucial to remain compliant with tax regulations. Whether you sell goods or services, it's essential to determine if you have made a gain on the sales and report accordingly on your tax return.
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Keep thieves from stealing from your nonprofit youth sports league

By far the most important step youth leagues can take to prevent fraud is to segregate duties. This means that no single individual receives, records and deposits funds coming in, pays bills and reconciles bank statements.
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ALABAMA FOOD TAX CUTS

In early June, Governor Kay Ivey signed a bill that will lower the state food tax rate from 4% to 3% on September 1, 2023. In 2024 the tax will be lowered to 2%, but it is contingent on the projections for the Education Trust Fund raising by 3.5% for 2025.
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4 TAX CHALLENGES YOU MAY ENCOUNTER IF YOU’RE RETIRING SOON

Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and financial issues you may contend with when you retire:
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How to Battle Back Against “Brandjacking”

As individuals, we’re warned repeatedly about the dangers of online identity theft. Well, as a business owner, you’re in double jeopardy because a hacker might not only steal your personal identity, but also — or alternatively — hijack your company’s brand.
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The IRS has just announced 2024 amounts for Health Savings Accounts

The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs).
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USE THE TAX CODE TO MAKE BUSINESS LOSS LESS PAINFUL

The tax rules regarding business losses are complex, especially when accounting for how NOLs can interact with other potential tax breaks. Read this article to learn more.
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Strengthen Strategic Planning with Competitive Intelligence

Business owners: Strategic planning is undeniably important, but you may be missing a savvy move if you aren’t using competitive intelligence to refine your game plan.
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2022 Gift Tax Return Deadline is Coming Soon

The income tax return deadline is April 18 this year. But it’s also the deadline for filing a gift tax return if you made large gifts last year. Find out if you’re required to file a 2022 gift tax return and why you may want to file one anyway.
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TaxCaddy FAQs

HOW TO USE TAX CADDY | TIPS AND RESOURCES Q: Which internet browser works best with TaxCaddy? …

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TaxCaddy Tips & Resources

HOW TO USE TAX CADDY | TAXCADDY FAQ's TaxCaddy’s Photo-Scan Feature Instead of using the…

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How to use TaxCaddy

TIPS AND RESOURCES | TAXCADDY FAQ's Filing your income tax return can be a time-consuming…

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nonprofit taxes

Nonprofits Tax Burdens & Types Explained – What You Need to Know

Estimated Reading Time: < 5 Minutes If you’re about to embark on a nonprofit mission…

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Gift Tax & The Holiday Season – Limits, Exceptions, & More

Estimated Reading Time: < 4 minutes A gift—no matter how large or small—can have a…

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Employee Retention Tax Credit 101 – Are you Eligible?

Estimated Reading Time: < 4 minutes As an employer, your payroll costs make up a…

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Child Tax Credit 101 – What You Need to Know

Thanks to the American Rescue Plan Act of 2021, the child tax credit has been…

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Top Tips for Lowering or Limiting Your Property Taxes

The joys of commercial or residential property ownership cannot be overstated. From a financial standpoint,…

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Leaving the Most for Loved Ones – Estate Planning Tips

Considering a future for our families beyond our own lifespans can lead to some of…

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Save the Most Now For Later – Maximizing your 401(k)

Few financial topics are discussed as endlessly as retirement savings—and for good reason. Getting it…

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How Much is a Business Worth? – Top Valuation Factors

Every business starts out as someone’s dream. But while dreams may be priceless, businesses require…

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Top 5 Accounting Tips for New Startups

The idea has been building for years, and now you’re finally making it happen. Your…

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From Groceries to Garments – What CPAs Do for Retail

Retail Business Accounting Your retail business is a complex entity offering a myriad of products…

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Don’t Wait to Apply for PPP Loan Forgiveness

The SBA is currently accepting second draw PPP loan applications from participating lenders during a…

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The CARES Act

Watch to review a brief overview of the income tax provisions of the CARES Act…

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Tax Depreciation 101

I am going to be discussing the basics of tax depreciation, and what can be…

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IRAs and the Related CARES and SECURE Act Provisions

In this video we will talk about Traditional Individual Retirement Arrangements, or IRAs and the…

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Estate and Gift Tax Changes

A lot of times when people hear the words estate and gift, they assume the…

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Annual Renewal REQUIRED of Alabama Tax Licenses

Beginning Sunday, November 1, 2020, taxpayers will be required to renew the State of Alabama…

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Top three IT solutions you need to keep your systems updated and secure

In today’s world, where so many people are working from home, and data threats are…

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financial forensics experts

Protect Your Small Business from Internal Financial Fraud

It’s a small business owner’s worst nightmare: internal financial fraud. If you’re running a small…

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Accounting Software for Restaurant Owners

Aldridge Borden and Co. Has the Recipe for Restaurant Accounting Success

If you’re a restaurant owner, you know that success requires maintaining a delicate balance between…

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Business Tax Strategies Made Easy at Aldridge, Borden & Company

If you own a small business, you know how confusing, complicated, and scary it can…

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Onesource - by Aldridge Borden & Company

Three reasons the OneSource solution keeps you IN your biz and OUT of accounting

If you’re a small business owner, you are clearly a subject matter expert in your…

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ANSWERS TO YOUR QUESTIONS ABOUT 2020 INDIVIDUAL TAX LIMITS

Right now, you may be more concerned about your 2019 tax bill than you are…

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CFO to Chair Audit Committee of the Board for River Region United Way

We would like to honor and congratulate our very own CFO, Ashley Lough, on her…

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Business Entity Selection After the TCJA: Post-Death Considerations

By Rhonda L. Sibley, CPA, AEP The law known as the Tax Cuts and Jobs…

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IRA Charitable Donations are an Alternative to Taxable Required Distributions

Are you charitably minded and have a significant amount of money in an IRA? If…

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