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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

Building a Strong Data Governance Framework for the Modern Audit

The importance of data governance cannot be overstated. With advanced technology and artificial intelligence relying on accurate, structured data to function effectively, strong controls around the way companies store and

Are You Preparing to Sell Your Business?

Selling a business is one of the most significant transitions a business owner can face. Unfortunately, many approach this milestone without the strategic planning needed to achieve their desired terms

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

Updating Responsible Party Information with the IRS

Organizations and businesses with an Employer Identification Number (EIN) are required to file Form 8822-B within 60 days of a change in their responsible party. This form is also used

HOW TO OVERCOME THE 5 BIGGEST FRUSTRATIONS BUSINESS OWNERS FACE

Written by Mike Kotsis, EOS Worldwide Freedom. Control of our own destiny. Making your mark on this planet. Financial wealth. Growth. More fun. These are a few of the many reasons why

BMSS Manager Testifies Before the IRS on Behalf of the NACVA

Written by Dalton Hopper, CFE, CVA, ABV Recently, I had the opportunity to testify before the IRS in Washington, D.C. as a Standards Board member of the National Association of

Protecting Member Trust: Fortifying Credit Unions Against Cyber Threats

By Jonathan Perz (Abacus Technologies, Senior Security Analyst) In the evolving landscape of cybersecurity, credit unions are facing an unprecedented rise in cyberattacks, making it essential for them to bolster

Leaving 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

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

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,

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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