Business - BMSS, LLC

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

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

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

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

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

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

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

The IRS’ Ever-Growing Backlog and Suspension of Selected Automated Notices

By Dalton Bradshaw, CPA In our Beyond the Bottom Line Newsletter on January, 26, 2022, we summarized the annual report of the Taxpayer Advocate Service to Congress. The report noted

Positive Pay

By Cooper Melvin, CPA, JD Due to a recent checking account fraud scheme in the local news, as a business owner or checking account holder, you may be wondering how

Business License Renewal Information

City of Birmingham Any person or entity desiring to conduct trade or provide services within the city limits of Birmingham is required to register with the City of Birmingham. The

BMSS’ 2021 Year-end Tax Planning Letter

2021 has been a year filled with recovery from the pandemic and economic hardships of 2020. As many of the tax breaks legislators provided during the pandemic come to an

Business Personal Property Tax Reminder

It’s time for Business Personal Property Tax Returns! Keep an eye on your mail for the 2022 tax year return from your county, and your OPPAL pin for online filing.

Alabama to Phase Out Minimum Business Privilege Tax Beginning in 2023

Alabama to Phase Out Minimum Business Privilege Tax Beginning in 2023

Understanding Your Buy-Sell Agreement – Part 2

Understanding Your Buy-Sell Agreement – Part 1

Package of Tax Provisions?

2022 Alabama Unemployment Tax Rate Notices

New Form 7203

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

The IRS’ Ever-Growing Backlog and Suspension of Selected Automated Notices

Positive Pay

Business License Renewal Information

BMSS’ 2021 Year-end Tax Planning Letter

Business Personal Property Tax Reminder

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