BMSS Trending Issues

Important Update for Nonprofit Organizations – Calendar-Year Returns & Tax Payments

BMSS Advisors & CPAs will begin processing extensions for calendar, year-end federal information returns (Form 990, Form 990-EZ, and Form 990-PF) in March 2026. Our firm policy is to file

Strait of Hormuz Tensions Threaten Global Oil Supply and Fuel Prices

In Summary: Rising geopolitical tensions involving Iran have heightened concerns about potential disruptions in the Strait of Hormuz, a critical chokepoint that handles about 20% of global oil supply. Any

How Tariff Uncertainty and Supply Chain Disruptions Are Reshaping Manufacturing Strategy in 2026

In Summary: Manufacturers in 2026 are navigating an increasingly complex environment shaped by evolving tariff policies and ongoing global supply chain disruptions. To remain competitive, companies must adopt more sophisticated

Can the Right KPIs Help Manufacturers Navigate Rising Costs in 2026?

As manufacturing companies head into 2026, the ability to track and control expenses has become more critical than ever. With tariff-related cost pressures continuing to affect margins and input costs

Is Your Manufacturing Company Doing Enough to Prevent Cyber Attacks?

Manufacturing companies face a growing reality: cyber-attacks are no longer a question of “if” but “when.” According to recent cybersecurity research, ransomware attacks on manufacturers accounted for over half of

100% Expensing for Qualified Production Property (QPP): What Manufacturers Need to Know

In summary: The One Big Beautiful Bill Act introduced a powerful new tax incentive for manufacturers: 100% first-year depreciation for Qualified Production Property (QPP) under IRC Section 168(n). This allows

Outlook for the Oil & Gas Industry Following Venezuela & Maduro

In Summary: Despite holding the world’s largest proven crude oil reserves, Venezuela currently produces less than 1% of global oil supply due to decades of nationalization, mismanagement, and political interference.

City Business License Renewal Deadlines Are Approaching

If you are an organization that conducts business within a city’s limits, depending on the nature of your business, you may be required to obtain a business license from the

Alabama Rural Hospital Investment Tax Credit (2026-2028) – Planning Opportunity Starting in 2026

Alabama has enacted a Rural Hospital Investment Tax Credit that can provide a dollar-for-dollar Alabama tax credit for cash donations to Board-approved, eligible rural hospitals or certain approved third-party entities

BMSS Family of Companies Takes Top Spot Among Large Companies – Best Companies to Work for in Alabama

Each year, Business Alabama, in partnership with the Best Companies Group, conducts a comprehensive employee survey to identify the best places to work across the state. This year, forty organizations

Building Tomorrow’s Accounting Leaders: Why Young CPAs Need Strong Mentorship Programs

The accounting profession is undergoing a transformation. As artificial intelligence (AI) automates routine tasks and clients increasingly expect proactive, strategic guidance, the firms that will thrive are those investing in

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