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BMSS’ 2025 Year-end Tax Planning Letter Is Here!
As we approach the end of 2025, it’s essential to plan ahead so that you are well-prepared for the upcoming tax season. Whether you’re an individual, a business owner, or
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BMSS Presents: The OBBBA & Year-End Tax Planning – What Individuals Need to Know
As 2025 winds down, it’s crucial for individuals to understand the implications of recent legislative changes and how to optimize their tax strategies before year-end. Join us for a comprehensive
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Maximizing Legacies: Navigating Business Valuations for Estate and Gift Tax Purposes
Written by Dalton Hopper, CFE, CVA As part of the 2017 Tax Cuts and Jobs Act, the gift and estate lifetime exclusion amount was raised and is currently set to
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2023 BMSS Year-End Tax Planning Letter
As we approach the end of 2023, 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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Potential Tax Benefits of Distributions in 2023 for Trusts and Estates
By Dalton Bradshaw, CPA As the 2023 filing season has arrived, taxpayers may be considering options to reduce their tax liabilities. Due to the compressed tax brackets for trusts and
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BMSS Presents: Biden’s First 100 Days Webinar
Join us as we discuss the first 100 days of Biden’s administration. We are honored to have Phil Williams, Chief Policy Officer & General Counsel for the Alabama Policy Institute,
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Tax Implications of PPP Loans
Some small businesses may be hit with a surprise tax bill related to Paycheck Protection Program (PPP) loans unless Congress acts soon. If you have been following our emails and
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BMSS’ Year-End Tax Planning Letter
2020 has been a year filled with challenges and adversity like no other and has affected each and every one of us. The coronavirus global pandemic has resulted in economic
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Have You Considered Your Tax Planning Strategies?
As the end of 2019 approaches, you are likely giving consideration to year-end tax planning strategies. House Republicans and the Trump Administration are talking taxes, specifically a new tax cuts
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Federal 941 Payroll Tax Look-back Procedures
IRS Notice 931, Deposit Requirements for Employment Taxes, https://www.irs.gov/pub/irs-pdf/n931.pdf lists requirements for depositing payroll taxes such as withheld federal income tax, Social Security and Medicare tax. If your company is
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Tax Planning – What to Consider if You’re in the Construction Industry
(This article is based on our annual year-end tax planning letter but has been modified to include aspects pertaining specifically to the construction industry. For the full tax planning letter,
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2019 Personal Use of a Company Automobile
According to IRS regulations, the personal usage of company cars by employees must be treated as taxable compensation income (and is subject to normal payroll taxes). In valuing this compensation,
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