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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
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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
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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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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
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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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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
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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
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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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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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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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Estate Exemption Sunset Reminder
By Cooper Melvin, JD, CPA In 2026, the increased estate tax exemption is expected to revert to its pre-2018 amount of $5 million adjusted for inflation. It is expected to
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Update on the DOL’s FLSA Minimum Salary Rule
Article provided by Payroll & Benefit Solutions (PBS) Update: The U.S. District Court for the Northern District of Texas on July 1 declined to block the new overtime rule nationwide.
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