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Preparing for W-2 and 1099 Season
The holidays are around the corner, and before we know it, January 2025 will be here! Let’s take a look at what we can do now to make the preparation
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Corporate Transparency Act – Beneficial Ownership Information Reporting Requirement
Dear Valued BMSS Client: Corporate Transparency Act — Beneficial Ownership Information Reporting Requirement Many businesses are now required to comply with the Corporate Transparency Act (CTA) that became effective on
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Schedule Your Tax Planning Meeting Today
Dear Clients and Friends, As we approach the end of the year, we would like to offer our services to provide year-end tax projections and explore tax planning opportunities for
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When State or Local Minimum Wage Requirements Exceed Federal Prevailing Wages—Are Government Contractors Entitled to Reimbursement Through the REA Process?
The Civilian Board of Contract Appeals (“CBCA”) decided April 23, 2024 against a federal services contractor seeking compensatory relief through a request for equitable adjustment (“REA”) for increased costs arising
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FLSA Salary Exemption
Written by Rebecca Tipton, SHRM-SCP BMSS HR AdvisoryPutting the “Resource” in Human Resource Consulting Three months have passed since the first update to the FLSA exemption salary thresholds for the
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Business Personal Property Tax – Looking Forward
It’s that time of year again, Alabama Business Personal Property Tax Returns are quickly approaching! Take a look below at some of the things to start thinking about in the
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Business License Requirements – Alabama
October is almost here, marking the start of the Alabama State and County Business Privilege license season. What is a Business Privilege License? Business Privilege Licenses are exactly what they
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Employee Retention Credit Update
Written by Christi Frassrand For the third time in as many months, the IRS recently gave another update on the processing of Employee Retention Credit (ERC) claims and announced that
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Estate Exemption Sunset Reminder
By Cooper Melvin, JD, CPA In 2026, the increased estate tax exemption is expected to revert to its pre-2018 amount of $5 million adjusted for inflation. It is expected to
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Update on the DOL’s FLSA Minimum Salary Rule
Article provided by Payroll & Benefit Solutions (PBS) Update: The U.S. District Court for the Northern District of Texas on July 1 declined to block the new overtime rule nationwide.
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Intuit Payroll Updated Payroll Tax Withdrawals & Terms of Service
What’s changing?Intuit is changing how they handle payroll taxes for customers with taxes automatically paid and filed by QuickBooks. Instead of withdrawing them when due, they’ll withdraw them every time
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Fortifying Futures: How the U.S. Supreme Court Changes the Way We Navigate Life Insurance and Buy-Sell Agreements
Written by Dalton Hopper, CFE, CVA Two brothers, Michael and Thomas Connelly, were owners of Crown C Supply, a building supply company in St. Louis, Missouri. The two brothers entered
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