Recent News

A Cloudy Sunset – TCJA Set To Expire in 2026

Written by Russell Goodman Uncertainty looming in Washington has CPAs and taxpayers across the country wondering the same thing. What will happen if the Tax Cuts and Jobs Act (TCJA)

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

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

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

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

BMSS Announces the Promotion of Laura Hanks, Wendy Lacey, Maura McDevitt and Trae Zablan to Member

BMSS Advisors & CPAs is proud to announce the promotion of Laura Hanks, CPA; Wendy Lacey, CPA; Maura McDevitt, CPA, MBA, CNAP, CGMA; and Trae Zablan, CPA, CGMA, CM&AA to

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

Department of Justice Files Emergency Motion to Stay the Nationwide Injunction Issued Against the Corporate Transparency Act (CTA) Affecting the Beneficial Ownership Information (BOI) Reporting Requirement

Edit on December 23, 2024: The 5th Circuit Court of Appeals ruled today in favor of the US Government and has lifted the nationwide injunction that was ordered by a

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

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

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,