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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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Alabama Department of Revenue Opens Window for Making Late Pass-Through Entity Election for 2021
By Ashley G. White, JD, CPA As we have previously reported in our Beyond the Bottom Line newsletters, the Alabama Electing Pass-Through Entity Tax Act (Act 2021-1 and Act 2021-423)
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Penalty Abatement for ERC-related Tax
By Cooper Melvin, J.D., CPA It is no secret that the IRS is backlogged with Employee Retention Credit (ERC) filings and has yet to issue refunds to many businesses that
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Alabama to Phase Out Minimum Business Privilege Tax Beginning in 2023
By Ashley G. White, JD, CPA Governor Kay Ivey recently signed into law Act No. 2022-252, amending the law regarding the minimum business privilege tax to be paid by small
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Understanding Your Buy-Sell Agreement – Part 3
Written by Dalton Hopper, CVA, CFE As mentioned in our previous articles in this series, we discussed what should be outlined in the buy-sell agreement as well as how the
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BMSS Presents: A Washington D.C. Update with AICPA’s Mark Peterson
Join us on Thursday, June 16th as Mark Peterson, Executive VP of Advocacy at the American Institute of CPAs (AICPA), provides an update from Washington D.C. Peterson provides global advocacy
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LIFO Election – Is It Right for Your Business?
Written by Ryan Carter, CPA LIFO Reserve Over the past two years, we have all felt the impact of the current market inflation. From our personal lives to the businesses
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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)
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Package of Tax Provisions?
With the prospects of a comprehensive U.S. tax legislative package unlikely, one possible path for Congress is the consideration of smaller, more targeted pieces of legislation. One possibility of such targeted
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Tax Considerations for Private Equity Funds and Investors
Written by Jeff Bilsky and Verenda Graham. The federal income tax rules that apply to private equity funds and investors have been the subject of much debate, mainly due to
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2022 Alabama Unemployment Tax Rate Notices
What’s happening? The Alabama Department of Revenue has started releasing 2022 Tax Rate Notices. Alabama no longer mails paper copies of these notices, so employers who are subject to Alabama
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One of the many challenges in any deal negotiation is for the buyer and seller to reach an agreement on the purchase price. This is especially true during times of
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