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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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Another Opportunity to Receive PPP Funding is Now Available
The Paycheck Protection Program loan portal reopened at 9:30 a.m. CST today, April 27. If you have already worked with a lender but were not approved before the first allocation
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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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Important Update on the Loan Forgiveness Phase of the PPP
If you are participating in the Paycheck Protection Program (PPP) and have received your funding, it is likely you have questions about the second phase of the program – loan
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Good News for PPP Loan Recipients Regarding Deferral of Payroll Taxes
The IRS released FAQs on Sec 2302 of the CARES Act, Delay of Payment of Employer Payroll Taxes. This provision generally provides that employers may defer the deposit and payment
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Important Notice Regarding Legal Implications for Clients Who Have Applied for Loans from the PPP
The accounting, tax and general business implications of COVID-19 is a rapidly evolving situation. BMSS will provide an update and/or revised information as it becomes known to us and we
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IRS Issues Additional Relief Measures
Late Thursday afternoon (April 9), the IRS issued News Release 2020-66, in which they announced that Notice 2020-23 extends additional key tax deadlines for individuals and businesses. The notice, which
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IRS & ADOR Operations – Beyond the Postponement of Payments and Filing until July 15
Much attention has already been given to the postponement from April 15 to July 15 of certain payments of tax and filings. The Internal Revenue Service (IRS) announced this postponement in Notice
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