Have You Considered Your Tax Planning Strategies?

Have You Considered Your Tax Planning Strategies?

As the end of 2019 approaches, you are likely giving consideration to year-end tax planning strategies. House Republicans and the Trump Administration are talking taxes, specifically a new tax cuts

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Federal 941 Payroll Tax Look-back Procedures

IRS Notice 931, Deposit Requirements for Employment Taxes, https://www.irs.gov/pub/irs-pdf/n931.pdf lists requirements for depositing payroll taxes such as withheld federal income tax, Social Security and Medicare tax. If your company is

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Tax Planning – What to Consider if You’re in the Construction Industry

(This article is based on our annual year-end tax planning letter but has been modified to include aspects pertaining specifically to the construction industry. For the full tax planning letter,

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5 Tips for Implementing the Lease Accounting Standard

Information is from the AICPA. Click here for full article.  When implementing the standard, private company CPAs should consider the following: 1. Companies will be required to record a lease

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2019 Personal Use of a Company Automobile

According to IRS regulations, the personal usage of company cars by employees must be treated as taxable compensation income (and is subject to normal payroll taxes). In valuing this compensation,

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Revenue Recognition and Leases Update

In the upcoming months and years, numerous changes will go into effect in regards to the implementation of revenue recognition and lease accounting standards. Do not let these changes overwhelm

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BMSS Welcomes Nationally Acclaimed Accounting Expert and Speaker, Michael Brand, CPA, CGMA to the Firm

BMSS, LLC is proud to welcome nationally acclaimed, accounting industry expert and speaker, Michael Brand, to the firm as its newest member. A resident of Athens, AL, Brand received his

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BMSS Continues Legacy of Giving Back to Local Communities

Employees from BMSS’ Birmingham locations have been “working” outside the office over the past few months. They have been serving hands-on throughout the city with several nonprofit organizations. Throughout October,

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Direct Deposit Fraud Alert

We are seeing an increase in compromised email accounts and hackers are using these compromised email accounts to submit fraudulent direct deposit requests to employers. The fraudulent direct deposit accounts

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BMSS Makes BBJ FastTrack 30

BMSS, LLC was recently named to the FastTrack 30 List of the fastest-growing companies in the Magic City. With an average growth rate of 29% and a three-year growth rate

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Guidance Released on Taxable Income from Parking and Other Fringe Benefit

By Marc Berger, CPA, JD, LLM The bill known as the Tax Cuts and Jobs Act, enacted in December 2017, added new Section 512(a)(7) to the Internal Revenue Code (IRC). 

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BMSS Named to INSIDE Public Accounting Top 200 Firms

Each year the publishers of INSIDE Public Accounting (IPA) release their annual financial performance analysis and ranking of the nation’s 400 largest public accounting firms. At number 159, BMSS was

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