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…
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Nov 24, 2020
News
Tag: tax planning
Nov 18, 2020
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…
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Dec 12, 2019
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,…
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Dec 11, 2019
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…
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Dec 11, 2019
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…
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Dec 04, 2019
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…
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Feb 27, 2018
BMSS Video Series Part 3: Individual Tax, Alabama Accountability Act and SGO Planning Idea
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….
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Feb 15, 2018
Architects & Engineers – How Will the New Tax Reform Affect Your Business?
Written by Bill Lorimer, CPA In the wake of the largest tax bill since the Tax Reform Act of 1986, business owners are trying to…
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Nov 22, 2017
2017 Tax Planning Letter
Dear BMSS Clients and Friends, As the end of 2017 approaches, you are likely giving consideration to year-end tax planning strategies. For the last several…
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Nov 09, 2016
2016 Year-End Tax Planning Letter
Dear BMSS Clients and Friends, As 2016 draws to a close, you should give consideration to year-end tax planning strategies. This letter highlights some of the…
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