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Employer Benefit Compliance: Are You Covered?
Written by Rebecca Tipton, SHRM-SCP BMSS HR Advisory Services Many people might not realize, but April 6th is National Employee Benefits Day, a day to celebrate and embrace the
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Update on Post-Death Distributions from Inherited IRAs and Retirement Plans
By Ashley G. White, JD, CPA The SECURE Act of 2019 was signed into law late in 2019 and largely overhauled the existing rules regarding taking mandatory distributions from retirement
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Steven N. Smith Appointed to the Alabama State Board of Public Accountancy
BOARD MEMBER SPOTLIGHT: STEVEN N. SMITH The Alabama State Board of Public Accountancy welcomes its newest Board member, Steven N. Smith of BMSS, LLC. Mr. Smith was appointed by Governor
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New Lease Standard – How It Affects Contractors
Written by Daniel Brock, CPA, CVA In 2016, the Financial Accounting Standards Board (FASB) issued a new standard that will significantly change how businesses record and report their leases. The
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Architects & Engineers – How Will the New Tax Reform Affect Your Business?
Written by Bill Lorimer, CPA In the wake of the largest tax bill since the Tax Reform Act of 1986, business owners are trying to process the implications to the
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“Phantom Stock” Awards: What Are They and Would They Benefit Your Company?
Written by Daniel J. Brock, CPA, CVA If you are looking to reward and incentivize key members of your management team, you may want to consider a “phantom stock” award.
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Alabama Accountability Act – Tax Planning Opportunity for You
by Todd Hindsman, CPA Under the Alabama Accountability Act (AAA), taxpayers have the opportunity to receive a tax credit for up to half of their state tax liability (capped at
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Welcome to Our Newest Employees!
BMSS would like to welcome and introduce the newest members of our team. We are fortunate to have the opportunity to add these talented professionals to our rank of experienced
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Nonprofit Entities: New Reporting Rules Will Affect Your Financial Statements
Written by Patrick Bowman, CPA On August 8, 2016, the Financial Accounting Standards Board issued new rules for nonprofits, FASB Accounting Standards Update 2016-14, Presentation of Financial Statements of Nonprofit
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Irma, Maria Highlight Pharma’s Need to Balance Supply Chain
What Drug Manufacturers Should Watch in the Wake of Natural Disasters When it comes to natural disasters, it’s not about if your supply chain will be impacted, it’s when. For the life sciences industry,
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2017 Tax Planning Letter
Dear BMSS Clients and Friends, As the end of 2017 approaches, you are likely giving consideration to year-end tax planning strategies. For the last several years, we have faced uncertainty
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2017 Personal Use of a Company Automobile
Dear Clients, According to IRS regulations, the personal usage of company cars by employees must be treated as taxable compensation income (and is subject to normal payroll taxes). In valuing
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