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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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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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GASB Simplifies Accounting for Capitalized Interest
By Susan Friend, CPA The Governmental Accounting Standards Board (GASB) Statement No. 89 (Statement), Accounting for Interest Cost Incurred before the End of a Construction Period, which is effective for
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