retirement - BMSS, LLC

New Requirement to Cover Long-Term Part-Time Employees in 401(k) Plans Enters Into Effect

The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act of 2019) and the SECURE 2.0 Act of 2022 (collectively, SECURE) enacted a new mandate that, starting

The Looming Social Security Shortfall: Why Saving for Retirement is More Crucial Than Ever

Written by Drew Nicol, CPA Social Security has been a staple of financial security for millions of Americans since 1937 providing essential support during retirement, disability, and other life-altering circumstances.

Retirement Plan Changes for 2023 and Beyond

Written by Ashley G. White, JD, CPA The Securing a Strong Retirement Act of 2022, known as SECURE 2.0 Act, made significant changes to retirement savings rules for both the employer and employee. Some of these changes

New Tax Tools for Giving: IRA Charity Rollover Gift Annuity

By: Cooper Melvin, CPA, JD In late 2022, Congress authorized a new tool to lower Required Minimum Distributions (“RMDs”) and increase charitable giving. Effective as of now, taxpayers over age

Succession Planning: Preparing for the Inevitable

BMSS HR Advisory Putting the “Resource” in Human Resource Consulting Written by Rebecca Tipton, SHRM-SCP Nearly all companies face turnover at some point, which can hurt businesses with lag times

BMSS Member, Steven N. Smith, Retires After 28 Years with the Firm

BMSS Advisors & CPAs would like to recognize all of the efforts and contributions that Steve gave to BMSS over the past 28 years. Steve joined BMSS in 1994 and

Update on Post-Death Distributions from Inherited IRAs and Retirement Plans

By Ashley G. White, JD, CPA The SECURE Act of 2019 was signed into law late in 2019 and largely overhauled the existing rules regarding taking mandatory distributions from retirement

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

Newly Released Proposed Regulations Regarding Post-Death Distributions from Inherited IRAs and Retirement Plans

Written by Ashley G. White, JD, CPA The SECURE Act (the “Act”) became law effective January 1, 2020, and made significant changes to the rules regarding required minimum distributions (RMDs)

Update on the Biden Administration’s Tax Proposals

By Cooper Melvin, J.D. In June, we provided a summary of the Green Book proposals, a glimpse into the Biden administration’s tax plan. On Monday, House Committee members made a

New Legislation That May Impact Your 2019 Year-End Tax Planning

In the days before going on recess for the holidays, Congress pushed through significant tax legislation as part of the year-end spending bill. As you wrap up your 2019 year-end

New Requirement to Cover Long-Term Part-Time Employees in 401(k) Plans Enters Into Effect

New Requirement to Cover Long-Term Part-Time Employees in 401(k) Plans Enters Into Effect

The Looming Social Security Shortfall: Why Saving for Retirement is More Crucial Than Ever

Retirement Plan Changes for 2023 and Beyond

New Tax Tools for Giving: IRA Charity Rollover Gift Annuity

Succession Planning: Preparing for the Inevitable

BMSS Member, Steven N. Smith, Retires After 28 Years with the Firm

Update on Post-Death Distributions from Inherited IRAs and Retirement Plans

Alabama Retirees to See Tax Cut in 2023

Newly Released Proposed Regulations Regarding Post-Death Distributions from Inherited IRAs and Retirement Plans

Update on the Biden Administration’s Tax Proposals

New Legislation That May Impact Your 2019 Year-End Tax Planning

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