Newsletter

Tax Basics – What All 20 and 30 Somethings Need to Know

Whether you prepare your tax return yourself or hire a professional, there are certain things you should know. Often it is not until a person reaches their mid- to late

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BMSS NEWS

Welcome to the BMSS Team! BMSS would like to welcome the newest members to our sister companies!  Caroline Raughley joined Abacus as a Business Development Representative and Michelle Ramage and

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Historic Tax Credits – Helping to Revitalize Alabama and Lower Your Taxes

In 2013, Alabama enacted the Historic Rehabilitation Tax Credit Program. The program provides developers with tax credits for rehabbing (as opposed to tearing down) historic properties. More than 30 states

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Firm News – January 2016

Happy New Year from all of us at BMSS. We’ve been busy as we kick off our 2016 tax season. To get you up to speed on the new items

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Tax Considerations When Delaying Social Security

The timing of when you take your Social Security can have a potentially significant impact on your overall tax strategy during retirement. While each person’s case is unique, delaying Social

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Deadline Extensions for Affordable Care Act Information

In Notice 2016-4, released on December 28, 2015, the Service extended the due dates for the Affordable Care Act (ACA) information reports that certain employers and coverage providers must issue

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Stock Market: The Impact of Higher Interest Rates

On Dec. 16, the Federal Open Market Committee of the Federal Reserve Board announced that it was raising the target range for the federal funds rate from 1/4 percent to

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How Behavioral Finance Impacts Personal Investing

Financial planning can be intimidating, but personal financial planning is more like a puzzle you have to work out. That’s because traditional finance assumes that markets are rational and that

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Noteworthy Tax Changes for the New Year

The tax extender bill has passed and been signed by the president, giving individuals and businesses resolution on many items that were set to expire. Unlike earlier tax extender bills,

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Investing in the Silver Dollar Generation

Baby boomers continue to be a driving force in economic growth and innovation in the United States and throughout the world. In fact, people age 50 and older (which technically

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Tip: Year-End Technology Purchases May Lower Your Tax Bill

Before year’s end, make sure you take advantage of tax deductions that are intended specifically to help reduce technology costs for small- and mid-sized businesses. Section 179 of the tax

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Are You Prepared for an Audit on Worker Classifications in Your Organization? 1099 vs. W-2

The Department of Labor and the IRS have started looking at worker classification with greater scrutiny.  This is coming in the form of specialized audits that are focusing on independent

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