Client Login
Pay Bill
SuraLink
Five FAQs about Embedded Leases
#1: What is an Embedded Agreement? According to ASC 842, a contract contains a lease if, “the contract conveys the right to control the use of identified property, plant, or equipment
Read More
The Difference One Word Makes
Written by Dalton Hopper, CFE, CVA There are few situations in which one word can make all the difference. In this example, we’re examining the difference between fair market value
Read More
OFCCP Compliance Reviews for Government Contractors: Do You Know What to Expect?
Rebecca Tipton, SHRM-SCP BMSS HR Advisory Putting the “Resource” in Human Resource Consulting With the OFCCP’s recent release of its 2023 Corporate Scheduling Announcement List (CSAL), many government contractors may
Read More Reporting a Change in Responsible Party: What It Means for Your Tax-exempt Organization
Written by Whitney Roberson, CPA IRS regulations require any entity with an EIN to update responsible party information within 60 days of any change by using Form 8822-B. You may
Read More
Potential Tax Benefits of Distributions in 2023 for Trusts and Estates
By Dalton Bradshaw, CPA As the 2023 filing season has arrived, taxpayers may be considering options to reduce their tax liabilities. Due to the compressed tax brackets for trusts and
Read More
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
Read More
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
Read More
Setting New Year’s Resolutions: Is Your Business Ready for 2023?
As we kick off a new calendar year, now is the time that people tend to evaluate the past year, scrutinize where they are now and set goals for the
Read More
2023 Alabama Unemployment Tax Rate Notices
What’s happening? The Alabama Department of Revenue has started releasing 2023 Tax Rate Notices. Alabama no longer mails paper copies of these notices, so employers who are subject to Alabama
Read More
BMSS Member, Steven N. Smith, Retires After 28 Years with the Firm
BMSS Advisors & CPAs would like to recognize all of the efforts and contributions that Steve gave to BMSS over the past 28 years. Steve joined BMSS in 1994 and
Read More
Update on Post-Death Distributions from Inherited IRAs and Retirement Plans
By Ashley G. White, JD, CPA The SECURE Act of 2019 was signed into law late in 2019 and largely overhauled the existing rules regarding taking mandatory distributions from retirement
Read More
RxDC Report Due December 27, 2022
Rebecca Tipton, SHRM-SCP The RxDC, or Prescription Drug Data Collection, Report is a new ERISA requirement under the Consolidation Appropriations Act of 2021 designed to bring more transparency to healthcare
Read More