Tax Treatment of Research and Experimental Expenses During 2022

Written by Steven N. Smith, J.D., CPA The 2017 Tax Cuts and Jobs Act (TCJA) is the gift that keeps on giving, continuing to create significant challenges for taxpayers and

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Alabama Department of Revenue Opens Window for Making Late Pass-Through Entity Election for 2021

By Ashley G. White, JD, CPA As we have previously reported in our Beyond the Bottom Line newsletters, the Alabama Electing Pass-Through Entity Tax Act (Act 2021-1 and Act 2021-423)

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Penalty Abatement for ERC-related Tax

By Cooper Melvin, J.D., CPA It is no secret that the IRS is backlogged with Employee Retention Credit (ERC) filings and has yet to issue refunds to many businesses that

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Understanding Your Buy-Sell Agreement – Part 5

Written by Dalton Hopper, CVA, CFE This is the last article in our series discussing the valuation aspects of buy-sell agreements. We have discussed what is included in a buy-sell

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Understanding Your Buy-Sell Agreement – Part 4

Written by Dalton Hopper, CVA, CFE In our previous articles, we discussed items to consider including in your buy-sell agreement, as well as how to determine your business’ value, and

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Alabama to Phase Out Minimum Business Privilege Tax Beginning in 2023

By Ashley G. White, JD, CPA Governor Kay Ivey recently signed into law Act No. 2022-252, amending the law regarding the minimum business privilege tax to be paid by small

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Understanding Your Buy-Sell Agreement – Part 2

Written by Dalton Hopper, CVA, CFE Recently, we kicked off a series discussing buy-sell agreements and what business owners and business advisors should know when it comes to valuation. In

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Understanding Your Buy-Sell Agreement – Part 1

Written by Dalton Hopper, CFE, CVA We are starting a short series on how business owners and their advisors can prepare an exit strategy by understanding their buy-sell agreement. Our

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Package of Tax Provisions?

With the prospects of a comprehensive U.S. tax legislative package unlikely, one possible path for Congress is the consideration of smaller, more targeted pieces of legislation. One possibility of such targeted

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2022 Alabama Unemployment Tax Rate Notices

What’s happening? The Alabama Department of Revenue has started releasing 2022 Tax Rate Notices. Alabama no longer mails paper copies of these notices, so employers who are subject to Alabama

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New Form 7203

By Cooper Melvin, JD, CPA The IRS recently released the final version of the new Form 7203 to better document S corporation stock basis in connection with the income tax

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Update on the Alabama Electing Pass-Through Entity Tax Act Enacted During 2021

[The summary information below is not complete and is for informational purposes only. The information is not intended to be, nor should it be, construed or used as tax advice

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