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Leave a Legacy for Future Generations
As the landscape of the professional services industry evolves, many private equity firms are investing in accounting and advisory firms and we want to take a moment to assure you
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Changes to Form 1099-K Reporting
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 by Third-Party Settlement Organizations (TPSOs) only
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2024 BMSS Year-End Tax Planning Letter
As we approach the end of 2024, it’s essential to plan ahead to ensure that you are well-prepared for the upcoming tax season. Whether you’re an individual, a business owner,
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Personal Use of Company Auto
According to IRS regulations, the personal usage of company cars by employees must be treated as taxable compensation income (and is subject to normal payroll taxes). In valuing this compensation,
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Schedule Your Tax Planning Meeting Today
Dear Clients and Friends, As we approach the end of the year, we would like to offer our services to provide year-end tax projections and explore tax planning opportunities for
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When State or Local Minimum Wage Requirements Exceed Federal Prevailing Wages—Are Government Contractors Entitled to Reimbursement Through the REA Process?
The Civilian Board of Contract Appeals (“CBCA”) decided April 23, 2024 against a federal services contractor seeking compensatory relief through a request for equitable adjustment (“REA”) for increased costs arising
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Steven Eilders from BMSS Advisors & CPAs Selected to Attend AICPA’s 2024 Leadership Academy
Steven Eilders, CPA, was one of only 30 CPAs honored by the American Institute of CPAs (AICPA) as a member of the Leadership Academy’s 16th graduating class. Steven was selected
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FLSA Salary Exemption
Written by Rebecca Tipton, SHRM-SCP BMSS HR AdvisoryPutting the “Resource” in Human Resource Consulting Three months have passed since the first update to the FLSA exemption salary thresholds for the
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Business Personal Property Tax – Looking Forward
It’s that time of year again, Alabama Business Personal Property Tax Returns are quickly approaching! Take a look below at some of the things to start thinking about in the
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Business License Requirements – Alabama
October is almost here, marking the start of the Alabama State and County Business Privilege license season. What is a Business Privilege License? Business Privilege Licenses are exactly what they
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Employee Retention Credit Update
Written by Christi Frassrand For the third time in as many months, the IRS recently gave another update on the processing of Employee Retention Credit (ERC) claims and announced that
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Intuit Payroll Updated Payroll Tax Withdrawals & Terms of Service
What’s changing?Intuit is changing how they handle payroll taxes for customers with taxes automatically paid and filed by QuickBooks. Instead of withdrawing them when due, they’ll withdraw them every time
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