Blog Placeholder Image

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

Read More
Blog Placeholder Image

City Business License Renewal Deadlines Are Approaching

If you are an organization that conducts business within a city’s limits, depending on the nature of your business, you may be required to obtain a business license from the

Read More
Blog Placeholder Image

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

Read More
Blog Placeholder Image

As 2025 Approaches, Uncertainty Lingers Over Enforcement of the Corporate Transparency Act

The drama surrounding the beneficial ownership information (BOI) reporting under the Corporate Transparency Act (CTA) has not taken a pause for the holidays and seems to be building for an

Read More
Blog Placeholder Image

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

Read More
Blog Placeholder Image

Nationwide Injunction Issued Against the Corporate Transparency Act (CTA) Affecting the Beneficial Ownership Information (BOI) Reporting Requirement

Yesterday, a judge in the U.S. District Court for the Eastern District of Texas issued a preliminary injunction, effectively blocking the U.S. Department of Treasury from enforcing the CTA’s beneficial

Read More
Blog Placeholder Image

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,

Read More
Blog Placeholder Image

Preparing for W-2 and 1099 Season

The holidays are around the corner, and before we know it, January 2025 will be here! Let’s take a look at what we can do now to make the preparation

Read More
Blog Placeholder Image

Corporate Transparency Act – Beneficial Ownership Information Reporting Requirement

Dear Valued BMSS Client: Corporate Transparency Act — Beneficial Ownership Information Reporting Requirement Many businesses are now required to comply with the Corporate Transparency Act (CTA) that became effective on

Read More
Blog Placeholder Image

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

Read More
Blog Placeholder Image

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

Read More
Blog Placeholder Image

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

Read More

Local Firm. National Knowledge. Global Reach.

Get In Touch