Yesterday, a judge in the U.S. District Court for the Eastern District of Texas issued a preliminary injunction, effectively blocking the U.S. Department of Treasury from enforcing the CTA’s beneficial
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As we approach the end of 2024, it’s essential to plan ahead to ensure that you are well-prepared for the upcoming tax season. Whether you’re an individual, a business owner,
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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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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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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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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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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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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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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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While a legal framework for employee stock ownership plans (ESOPs) was established by the Employee Retirement Income Security Act of 1974 (ERISA), formal guidance for determining the fair market value
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Intuit has announced several product updates coming up over the next year or so. If you use QuickBooks Desktop, this may impact you! Intuit made a decision that after September
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Emerging technology and artificial intelligence present exciting opportunities in virtually every industry and field. From automating time-consuming, manual processes to generating information from a simple line of text, the potential
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