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Business Personal Property Tax – Looking Forward
It’s that time of year again, Business Personal Property Tax Returns are quickly approaching! Take a look below at some of the things to start thinking about in the coming
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I-9 Compliance: Navigating the Updated Form and Remote Verifications
Written by Rebecca Tipton, SHRM-SCP, BMSS HR Services The I-9 form is one of the main cornerstones of compliance for onboarding so that employers can demonstrate their employees’ eligibility to work
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Maximize Your Tax Savings and Make a Positive Impact: Work Opportunity Tax Credit
Written by Sarah Shirley Ever since the world seemingly stopped during the COVID-19 pandemic, people everywhere have started placing greater importance on making a positive impact in the world and
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IRS Increases Oversight of ERC Program
Last week, the IRS issued an important news release, IR-2023-135 (click green link to read full release), announcing their heightened scrutiny of claims for the Employee Retention Credit (ERC) with
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Independent Contractor (Self-Employed) or Employee?
Labor classification splits workers into two categories: Employees and Independent Contractors. Proper classification of workers is an important part of paying for labor and there are several pieces to consider
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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
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Maximizing Tax Benefits of Transaction Costs
Whether related to an acquisition, merger, restructuring, reorganization, initial public offering or spin-off, the costs paid by companies to service providers such as investment bankers, attorneys, accountants and consultants to
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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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Steven N. Smith Appointed to the Alabama State Board of Public Accountancy
BOARD MEMBER SPOTLIGHT: STEVEN N. SMITH The Alabama State Board of Public Accountancy welcomes its newest Board member, Steven N. Smith of BMSS, LLC. Mr. Smith was appointed by Governor
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2023 Social Security Wage Base Update
As we approach the end of the year, it is important to remain aware of changes that may affect your payroll software. One of the changes will be to the
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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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Federal 941 Payroll Tax Lookback Procedures
Do you pay Federal 941 payroll taxes on a monthly deposit schedule? If so, it may wise to perform an annual checkup to find out if you are required to
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