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Beneficial Ownership Information (BOI) Reporting Update

If you’ve been paying attention to the news surrounding the beneficial ownership information (BOI) reporting requirement under the Corporate Transparency Act (CTA), then you know that it has undergone many

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How Executive Order 14173, “Ending Illegal Discrimination and Restoring Merit-Based Opportunity,” Affects Employer Responsibilities

Rebecca Tipton, SHRM-SCP, BMSS HR Advisory ServicesPutting the “Resource” in Human Resource Consulting Regardless of your particular political preference, I don’t think anyone could argue that these first few months

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Protecting Member Trust: Fortifying Credit Unions Against Cyber Threats

By Jonathan Perz (Abacus Technologies, Senior Security Analyst) In the evolving landscape of cybersecurity, credit unions are facing an unprecedented rise in cyberattacks, making it essential for them to bolster

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Leaving a Legacy for Future Generations

As the landscape of the professional services industry evolves, many private equity firms are investing in accounting and advisory firms and we want to take a moment to assure you

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Understanding SOC Reporting: A Beginner’s Guide

Written by Corbin Parker, CISA, Abacus Technologies Organizations are increasingly relying on third parties to handle financial transactions, customer data, and IT services. This reliance introduces the need for trust

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Using Data to Measure Morale

Written by Becca Riles, Business Intelligence Analyst, Abacus Technologies Did you know that using data to measure morale within a company is essential for several reasons? Morale refers to the

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BMSS Advisors & CPAs Welcomes Mobile, Alabama Office in Continued Growth Plan

As part of a planned growth strategy that will provide additional services and depth for firm clients, BMSS Advisors & CPAs is proud to expand into the Mobile and Eastern

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As 2025 Approaches, Uncertainty Lingers Over Enforcement of the Corporate Transparency Act

The drama surrounding the beneficial ownership information (BOI) reporting under the Corporate Transparency Act (CTA) has not taken a pause for the holidays and seems to be building for an

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Department of Justice Files Emergency Motion to Stay the Nationwide Injunction Issued Against the Corporate Transparency Act (CTA) Affecting the Beneficial Ownership Information (BOI) Reporting Requirement

Edit on December 23, 2024: The 5th Circuit Court of Appeals ruled today in favor of the US Government and has lifted the nationwide injunction that was ordered by a

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Changes to Form 1099-K Reporting

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 by Third-Party Settlement Organizations (TPSOs) only

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Nationwide Injunction Issued Against the Corporate Transparency Act (CTA) Affecting the Beneficial Ownership Information (BOI) Reporting Requirement

Yesterday, a judge in the U.S. District Court for the Eastern District of Texas issued a preliminary injunction, effectively blocking the U.S. Department of Treasury from enforcing the CTA’s beneficial

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2024 BMSS Year-End Tax Planning Letter

As we approach the end of 2024, 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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