BMSS Trending Issues

Understanding Your Buy-Sell Agreement – Part 4

Written by Dalton Hopper, CVA, CFE In our previous articles, we discussed items to consider including in your buy-sell agreement, as well as how to determine your business’ value, and

Alabama to Phase Out Minimum Business Privilege Tax Beginning in 2023

By Ashley G. White, JD, CPA Governor Kay Ivey recently signed into law Act No. 2022-252, amending the law regarding the minimum business privilege tax to be paid by small

Proposed Regulations Take Aim at Estate and Gift Basic Exclusion

Written by Dalton Bradshaw, CPA In 2017, the passage of the Tax Cuts and Jobs Act (TCJA) brought about numerous provisions aimed at benefiting taxpayers, including within the estate and

Understanding Your Buy-Sell Agreement – Part 3

Written by Dalton Hopper, CVA, CFE As mentioned in our previous articles in this series, we discussed what should be outlined in the buy-sell agreement as well as how the

LIFO Election – Is It Right for Your Business?

Written by Ryan Carter, CPA LIFO Reserve Over the past two years, we have all felt the impact of the current market inflation. From our personal lives to the businesses

Understanding Your Buy-Sell Agreement – Part 2

Written by Dalton Hopper, CVA, CFE Recently, we kicked off a series discussing buy-sell agreements and what business owners and business advisors should know when it comes to valuation. In

Newly Released Proposed Regulations Regarding Post-Death Distributions from Inherited IRAs and Retirement Plans

Written by Ashley G. White, JD, CPA The SECURE Act (the “Act”) became law effective January 1, 2020, and made significant changes to the rules regarding required minimum distributions (RMDs)

Understanding Your Buy-Sell Agreement – Part 1

Written by Dalton Hopper, CFE, CVA We are starting a short series on how business owners and their advisors can prepare an exit strategy by understanding their buy-sell agreement. Our

Package of Tax Provisions?

With the prospects of a comprehensive U.S. tax legislative package unlikely, one possible path for Congress is the consideration of smaller, more targeted pieces of legislation. One possibility of such targeted

Significant Amendment to the Alabama Accountability Act

Written by Steve Smith, JD, CPA On April 14th, Governor Ivey signed Senate Bill 261 (SB261) into law, raising the current cap on contributions under the Alabama Accountability Act (AAA).

Fraud in the Workplace, Can You Spot the Warning Signs?

Written by Dalton Hopper, CFE, CVA Recently, the American Institute of Certified Public Accountants (AICPA) FLS Fraud Task Force released its Eye on Fraud. This publication discusses some of the

Tax Considerations for Private Equity Funds and Investors

Written by Jeff Bilsky and Verenda Graham. The federal income tax rules that apply to private equity funds and investors have been the subject of much debate, mainly due to

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