Recent News

The Year Ahead in Hospitality: Embracing Opportunities, Mitigating Risk

Three years after the onset of the coronavirus pandemic, the hospitality industry, like others, is still recovering. Though 2022 saw some significant growth with a public eager to travel for

Changes to the 2023 Form 5500

The Department of Labor (DOL) released the final changes to Form 5500 relating to the September 2021 notice of proposed form revisions (NPFR) to amend Form 5500. The changes fall

Whistleblower Programs and Compliance: Enhancing Transparency and Accountability through Forensic Accounting

Written by Dalton Hopper, CFE, CVA Whistleblower programs and compliance initiatives have gained significant importance in recent years as organizations and governments strive to enhance transparency, ethical behavior, and accountability.

New Tax Tools for Giving: IRA Charity Rollover Gift Annuity

By: Cooper Melvin, CPA, JD In late 2022, Congress authorized a new tool to lower Required Minimum Distributions (“RMDs”) and increase charitable giving. Effective as of now, taxpayers over age

FedNow – Instant Payments to Launch July 2023

Written by Luke Arnett, CPA In this day and age, businesses and consumers want everything at the click of a button, including the ability to receive and send payments. The

BMSS Culture – What Is It Like to Be an Accountant at BMSS During “Success Season?”

In the Fall, the HR Team starts planning all the fun events that will make the firm’s busiest time of year as manageable as possible for professionals at BMSS. In

Final Paychecks: What is Required When an Employee Separates from Employment?

What are Alabama’s rules surrounding final paychecks? Alabama does not provide regulations on when a final check must be issued, so employers are required by the Fair Labor and Standards

New Employment Protections for New and Expecting Mothers

Written by Rebecca Tipton, SHRM-SCP BMSS HR Advisory Putting the “Resource” in Human Resource Consulting With new legislation protecting new and expecting mothers’ employment, employers need to be cognizant of

Preparing to Sell Your Business

Written by Mark Underhill, CPA, CM&AA, CVGA If you’re a business owner thinking about selling your business, congratulations! You’re about to embark on an exciting journey that could potentially bring

Succession Planning: Preparing for the Inevitable

BMSS HR Advisory Putting the “Resource” in Human Resource Consulting Written by Rebecca Tipton, SHRM-SCP Nearly all companies face turnover at some point, which can hurt businesses with lag times

What’s Your Ideal Life?

Beyond Financial Planning and Investment Advice Written by Chase Boardman, BMSS Wesson Wealth Solutions Picture this. You sign up for a bodybuilding competition a few months from now. To prepare,

Employee Benefit Plan Audits: Common Deficiencies and Keys to Success

Written by Emily Riles, CPA After the tax and audit deadlines in April, many companies begin to prepare for their Employee Benefit Plan (EBP) Audit for their 401(k) plan, 403(b)