BMSS Blog

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

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

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

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

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

Steven N. Smith Appointed to the Alabama State Board of Public Accountancy

BOARD MEMBER SPOTLIGHT: STEVEN N. SMITH The Alabama State Board of Public Accountancy welcomes its newest Board member, Steven N. Smith of BMSS, LLC. Mr. Smith was appointed by Governor

2023 Social Security Wage Base Update

As we approach the end of the year, it is important to remain aware of changes that may affect your payroll software. One of the changes will be to the

Federal 941 Payroll Tax Lookback Procedures

Do you pay Federal 941 payroll taxes on a monthly deposit schedule? If so, it may wise to perform an annual checkup to find out if you are required to

How Does Your Compensation Look Under the Microscope and Why Should You Care?

Written by Rebecca Tipton, SHRM-SCP With the end of the year quickly approaching, many companies are in the middle of budget planning, which is the perfect time to conduct a

Alabama Retirees to See Tax Cut in 2023

Written by Drew Nicol, CPA Earlier this year, Governor Kay Ivey signed HB162 into law which exempts the first $6,000 of retirement income received by individuals aged 65 and older

Your Alabama Tax License Renewal is Due December 31, 2022

Beginning November 1, 2020, taxpayers are required to renew their State of Alabama Tax License annually. 2022 License Renewal Due Date: 12/31/2022 The My Alabama Taxes (MAT) website provides the

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