BMSS Trending Issues

OBBBA on Overtime Wages and Tips

Overtime Wages Effective for tax years 2025 through 2028, individual taxpayers are eligible to deduct the premium portion of overtime (such as the “half” in “time-and-a-half”) for time worked beyond

Cybersecurity Alert: 16 Billion Records Compromised

A massive data leak of 16 billion records from 30 datasets—including Apple, Google, and Facebook—has been reported in the past few days. Researchers say the data is fresh and credentials

The Latest on Washington’s “Beautiful” Tax Bills

Written by Todd Martin, IV, Senior Manager and Jan Lewis, Member On May 22, Americans got their first look at a proposed tax legislation package under the new administration with

IRS Releases Updated FAQs to Provide Guidance on Employee Retention Credit (ERC) Taxability

With the deadline for submitting Employee Retention Credit (ERC) claims now closed, the IRS is working through approximately 597,000 outstanding claims. As a result, businesses are receiving either reimbursement payments

BMSS Advisors & CPAs Member, Jan Lewis, CPA, CGMA, Elected Vice Chair of the AICPA

BMSS Advisors & CPAs is proud to announce that longtime Member, Jan Lewis, CPA, CGMA, has been elected as Vice Chair of the Board of Directors of the American Institute

Navigating the First 100 Days: A Recap of Recent Tariff Actions

As President Trump marks his first 100 days in office, both domestic and global markets are grappling with the sweeping changes brought by his administration’s tariff policies. From newly imposed

The Importance of Portfolio Diversification

The recent tariffs announcement on April 2nd had a significant effect on the public U.S. stock market. However, other areas of the market were affected less severely, while some areas

How Tariffs Will Impact Crude Oil Prices and What This Means for Consumers

Written by Steven Eilders, CPA, BMSS Manager Gas prices are a hot topic in the news right now – but many consumers find themselves overwhelmed by all of the changing

Beneficial Ownership Information (BOI) Reporting Update

If you’ve been paying attention to the news surrounding the beneficial ownership information (BOI) reporting requirement under the Corporate Transparency Act (CTA), then you know that it has undergone many

How Executive Order 14173, “Ending Illegal Discrimination and Restoring Merit-Based Opportunity,” Affects Employer Responsibilities

Rebecca Tipton, SHRM-SCP, BMSS HR Advisory ServicesPutting the “Resource” in Human Resource Consulting Regardless of your particular political preference, I don’t think anyone could argue that these first few months

Understanding SOC Reporting: A Beginner’s Guide

Written by Corbin Parker, CISA, Abacus Technologies Organizations are increasingly relying on third parties to handle financial transactions, customer data, and IT services. This reliance introduces the need for trust

Using Data to Measure Morale

Written by Becca Riles, Business Intelligence Analyst, Abacus Technologies Did you know that using data to measure morale within a company is essential for several reasons? Morale refers to the

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