BMSS Trending Issues

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

Biden’s Student Loan Forgiveness Program

Written by Dalton Bradshaw, CPA Since the 1980s, the cost of a college education has continued to increase exponentially, nearly tripling, even after factoring for inflation. The continual cost increase

Preparing for W-2 and 1099 Season

The holidays are around the corner, and before we know it, January 2023 will be here! Let’s take a look at what we can do now to make the preparation

ERC Sharks Continue to Strike

By Cooper Melvin, J.D., CPA In a news release today, the IRS warned employers to be wary of third parties who are advising them to claim the Employee Retention Credit

Business Personal Property Tax Filings are Due December 31

It’s that time of year again and Business Personal Property Tax Returns are quickly approaching! What is the Business Personal Property Tax (Ad Valorem)? The Business Personal Property tax is

Changes to Form 1099-K Reporting for 2022

Written by Cooper Melvin, J.D., CPA Form 1099-K was first introduced in the 2011 calendar year. The 2011 form, titled Merchant Card and Third-Party Payments, was required to be filed

Your Alabama Unclaimed Property Report is Due November 1, 2022

If your company or organization holds unclaimed property with situs in Alabama, you must file an annual report with the State of Alabama Treasurer’s Office. This report covers property that is deemed

IRS Offers Late Portability Election Relief to Estates

By Dalton Bradshaw, CPA On July 8, 2022, in a taxpayer-friendly move, the IRS announced relief for estates making a late portability election for a deceased spousal unused exclusion (DSUE)

As IRS Woes Continue, What Can You Do?

If you’ve been listening to the news over the past couple of years, you’re aware that the IRS is facing serious challenges. And, while the IRS’ issues cannot solely be

Daniel Brock Earns the Certified Construction Industry Financial Professional (CCIFP) Designation

Daniel Brock, CPA, CVA, CCIFP is now among the most highly qualified construction financial professionals in the industry, having recently earned the Certified Construction Industry Financial Professional (CCIFP) designation. According

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