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BMSS’ 2022 Year-End Tax Planning Letter
As 2022 comes to a close, all eyes are on the midterm elections and potential year-end tax legislation and, as always, it is important to stay informed. Year-end tax planning
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How Does Your Compensation Look Under the Microscope and Why Should You Care?
Written by Rebecca Tipton, SHRM-SCP With the end of the year quickly approaching, many companies are in the middle of budget planning, which is the perfect time to conduct a
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Alabama Retirees to See Tax Cut in 2023
Written by Drew Nicol, CPA Earlier this year, Governor Kay Ivey signed HB162 into law which exempts the first $6,000 of retirement income received by individuals aged 65 and older
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Your Alabama Tax License Renewal is Due December 31, 2022
Beginning November 1, 2020, taxpayers are required to renew their State of Alabama Tax License annually. 2022 License Renewal Due Date: 12/31/2022 The My Alabama Taxes (MAT) website provides the
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Biden’s Student Loan Forgiveness Program
Written by Dalton Bradshaw, CPA Since the 1980s, the cost of a college education has continued to increase exponentially, nearly tripling, even after factoring for inflation. The continual cost increase
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ERC Sharks Continue to Strike
By Cooper Melvin, J.D., CPA In a news release today, the IRS warned employers to be wary of third parties who are advising them to claim the Employee Retention Credit
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Business Personal Property Tax Filings are Due December 31
It’s that time of year again and Business Personal Property Tax Returns are quickly approaching! What is the Business Personal Property Tax (Ad Valorem)? The Business Personal Property tax is
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Changes to Form 1099-K Reporting for 2022
Written by Cooper Melvin, J.D., CPA 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
Read More Your Alabama Unclaimed Property Report is Due November 1, 2022
If your company or organization holds unclaimed property with situs in Alabama, you must file an annual report with the State of Alabama Treasurer’s Office. This report covers property that is deemed
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Carpe Diem: Five Silver Lining Strategies for Recession
A confluence of rising inflation and interest rates, supply chain disruption and volatile consumer demand are setting the stage for an economic downturn. Many prominent business leaders and economists contend
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Ensure Your Organization is Prepared This Hurricane Season
Written by Dalton Hopper, CFE, CVA In our last BBL newsletter, we shared BDO’s Top 5 Tips when filing an insurance claim after a hurricane. Two months into the official
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Are You Prepared for Hurricane Season?
Top 5 Tips when Filing an Insurance Claim Hurricanes can have a devastating impact on businesses of all sizes. Employees’ safety is at risk, assets are vulnerable, and business can
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