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Business License Renewal Information

City of Birmingham Any person or entity desiring to conduct trade or provide services within the city limits of Birmingham is required to register with the City of Birmingham. The

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Build Back Better Act’s Proposed Tax Changes on Indefinite Hold

A few days before Christmas, West Virginia Democratic Senator Joe Manchin announced on both Fox News Sunday and his website that he would not support the Build Back Better Act (BBBA), President

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Important Information Regarding 2021 Personal Income Tax Returns

IRS Issuing Information Letters to Advance Child Tax Credit Recipients and Recipients of the Third Round of Economic Impact Payments On December 22, 2021, the IRS announced that it will

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How Nonprofits Can Navigate the Great Resignation

By  Andrea Espinola Wilson Nonprofits are not exempt from the current labor market shortages associated with the “Great Resignation.” The pandemic, social and political events, and the relentlessness of navigating

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How to Repay Q4 Employee Retention Credit (ERC)

By Cooper Melvin, JD If you received an advance payment of the employee retention credit for the fourth calendar quarter of 2021, you might have to repay the amount received.

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Taxation of Employees’ Personal Use of Company Vehicles Simplified by 2020 and 2021 IRS Regulations and Guidance

Under IRS general rules, all use of a company car is considered personal use unless the employee documents the business use of the car. Personal use of a company vehicle

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Federal 941 Payroll Tax Lookback Procedures

IRS Notice 931, Deposit Requirements for Employment Taxes, lists requirements for depositing payroll taxes such as federal income, social security and Medicare taxes. If your company is currently paying Federal

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BMSS’ 2021 Year-end Tax Planning Letter

2021 has been a year filled with recovery from the pandemic and economic hardships of 2020. As many of the tax breaks legislators provided during the pandemic come to an

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Update on the Build Back Better Act

By Cooper Melvin, JD As discussed elsewhere in this Beyond the Bottom Line, the Infrastructure Investment and Jobs Act became law on Monday, November 15th. The other key component of

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Update on the Infrastructure Investment and Jobs Act

By Dalton Bradshaw, CPA After months of debates and concessions, the Infrastructure Investment and Jobs Act (the “Act”) was passed by Congress on November 5, 2021. On Monday of this

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Kate Fluker Earns the Certified Construction Industry Financial Professional (CCIFP) Designation

Congratulations to Kate Fluker for earning the Certified Construction Industry Financial Professional (CCIFP) Designation! Kate is now among the most highly qualified construction financial professionals in the industry and joins

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