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The EOS Process
At BMSS, we are honored to be able to help companies get on the same page with their Vision and help develop the discipline to achieve that Vision. EOS has
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Beneficial Ownership Interest (BOI) Challenged in Court
Written by Steven M. Platau, J.D., CPA The Corporate Transparency Act requires many newly formed entities in 2024 to make a Beneficial Ownership Interest (BOI) filing with the Treasury Department’s
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State Charitable Solicitation Registrations and Other Filing Requirements
Did you know that states have their own laws requiring charitable organizations to register or file financial information? Most charitable organizations are aware of charitable solicitation registration requirements but may
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New Requirement to Cover Long-Term Part-Time Employees in 401(k) Plans Enters Into Effect
The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act of 2019) and the SECURE 2.0 Act of 2022 (collectively, SECURE) enacted a new mandate that, starting
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E-Verify Reporting Requirements
What is E-Verify? E-Verify is an Internet-based system that allows employers to confirm newly hired employees are legally authorized to work in the United States. The E-Verify system compares information
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Two Pivotal IRS Programs Launched to Address Employee Retention Credit (ERC) Issues
In response to the increasing number of potentially ineligible Employee Retention Credit (ERC) claims, the IRS has recently launched two pivotal programs for businesses navigating the complexities of the ERC:
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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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