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Alabama Legislation Update
On Friday, February 12, Governor Kay Ivey signed three bills into law which include provisions that have a significant impact on businesses operating in Alabama, and also impact individual taxpayers
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Employee Retention Credit (ERC) Update
Employers that received a PPP loan and were previously prohibited from claiming the Employee Retention Credit (ERC) may now retroactively claim the ERC for 2020. Employers may use ERCs to offset
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Congress Agrees Upon New COVID-19 Relief Bill; Trump Signs Bill into Law
Late on December 20, 2020, Congress agreed upon a new COVID-19 relief package to aid businesses and individuals that are suffering financial hardship due to the ongoing pandemic. President Trump
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BMSS Listed on Forbes “America’s Best Tax and Accounting Firms” for Second Year in a Row
Forbes has partnered with market research company Statista to create a list of the most recommended firms for tax and accounting services in the U.S. based on surveys of tax
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BMSS Presents: Year-End Planning and Post-Election Tax Updates Webinar Recording & PowerPoint Slides
On Tuesday, December 1 we hosted the webinar, BMSS Presents: Year-End Planning and Post-Election Tax Updates. We were also fortunate to have Bradley Partners Bruce Ely and William T. Thistle, II
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IRS Issues Guidance for Deferral of Certain Employee Payroll Tax in Light of the Ongoing COVID-19 Pandemic
On Friday, August 28, 2020, the IRS issued a news release announcing that Notice 2020-65 had been issued to provide guidance to implement the Presidential Memorandum issued on August 8,
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10 Steps to Return to the Workplace
The below information was created by our friends at Ursa Group, LLC It’s going to be a gradual process getting back to 100% operation after being locked down and social
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BMSS Member Michael Brand Awarded 2019 AICPA Outstanding Facilitator
BMSS, LLC is proud to announce that Member Michael Brand, CPA, CGMA has been named as an AICPA Outstanding Facilitator for the 2019 CPE Year. Known as a nationally acclaimed,
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SBA Releases Long-Awaited PPP Forgiveness Application Form
On Friday, May 15 the Small Business Administration (SBA) released the long-awaited PPP Forgiveness Application Form. This application created a number of new safe harbors and changes that were not in
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An Answer to One of the Most-Asked PPP Loan Questions on Good-Faith Certification
There has been a great deal of discussion regarding the borrower’s good-faith certification required on the application for a PPP loan. The SBA released FAQ 46 this morning, May 13,
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BMSS Hosts Virtual Keep Corona Calm 5K and 1-Mile Fun Run
More than 250 BMSS employees and family members laced up their running shoes on Saturday, May 2 to rally together, while remaining at least six-feet apart, in the BMSS Presents:
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Provisions Affecting Retirement Plan Distributions and Loans in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
The recently enacted Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes several provisions affecting retirement plan distributions and loans related to the COVID-19 virus that are discussed below. Distributions: Eligible individuals
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