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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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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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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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Employee Retention Credit – Timing of Qualified Wages Deduction Disallowance
By Steven N. Smith, CPA, JD Initially, the employee retention credit (ERC), enacted by the CARES Act, was not available to paycheck protection program (PPP) borrowers. The passage of the
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Qualified Business Income Deduction
The IRS released long-awaited guidance on new Code Sec 199A, commonly known as the “pass-through deduction” or the “qualified business income deduction.” Taxpayers can rely on these proposed regulations and a proposed revenue
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BMSS Video Series Part 7: Accounting Method Changes and Interest Expense Deduction Changes
With all the changes made in the recently enacted tax reform legislation, we are committed to keeping you informed while providing you peace of mind. That’s why we’ve created an
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BMSS Video Series Part 4: 20% Deduction for Pass-Through Entity QBI
With all the changes made in the recently enacted tax reform legislation, we are committed to keeping you informed while providing you peace of mind. That’s why we’ve created an
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