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Alabama 2024 Annual Report Changes
For corporate entities registered with the Alabama Secretary of State (ALSOS), beginning January 1, 2024, the ALSOS Corporation Annual Report is no longer reported with the Annual Business Privilege Tax
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Implementing New Accounting Standards: Are You Prepared?
In today’s ever evolving world of accounting guidance and regulatory compliance, it’s more important than ever to stay on top of what standards have been issued by the Financial Accounting
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The Looming Social Security Shortfall: Why Saving for Retirement is More Crucial Than Ever
Written by Drew Nicol, CPA Social Security has been a staple of financial security for millions of Americans since 1937 providing essential support during retirement, disability, and other life-altering circumstances.
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BMSS Announces Promotions of Brad Brown and Brian Jackson to Member
Effective January 1, 2024, BMSS Advisors & CPAs proudly added two new Members to the firm bringing the total number to 34. This announcement follows an eventful close to 2023
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2024 Social Security Wage Base Update
The wage base limit is the maximum wage that is subject to Social Security tax for that year. In 2023, the Social Security Wage base was $160,200 and is increasing
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Maximizing Legacies: Navigating Business Valuations for Estate and Gift Tax Purposes
Written by Dalton Hopper, CFE, CVA As part of the 2017 Tax Cuts and Jobs Act, the gift and estate lifetime exclusion amount was raised and is currently set to
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Federal 941 Payroll Tax Lookback Procedures
IRS Notice 931, Deposit Requirements for Employment Taxes, https://www.irs.gov/pub/irs-pdf/n931.pdf list requirements for depositing payroll taxes such as federal income tax, social security and Medicare tax. If your company is currently
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Looking Ahead in Human Resources for a New Year
By Rebecca Tipton, SHRM-SCP HR Advisory Services We are officially in the final days of 2023, which is historically a time for celebration! However, before you break out your noisemakers
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City Business License Renewals
As the year draws to a close, it’s important to think about renewing your city business license. Depending on the nature of your business and its location, you may be
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Nonprofits: Are Your Processes Innovative or Merely Electronic? Leverage Technology the Right Way
Written by Gina McDonald, BDO, USA, P.C. Decades of innovation have transformed the finance office from a mindset of processing transactions to one of strategic financial management. But even with
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2023 BMSS Year-End Tax Planning Letter
As we approach the end of 2023, 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,
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Better Together: BMSS and Haddox Reid Merge Into One Firm, Effective December 1, 2023
Effective December 1, 2023, renowned Mississippi CPA and Advisory firm, Haddox Reid Eubank Betts PLLC (Haddox Reid), merged with top Alabama firm, BMSS Advisors & CPAs. Consolidated under the name
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