Considerations for the Employee Retention Credit

Created and introduced as part of the CARES Act in 2020, the Employee Retention Credit (Credit) was implemented to encourage employers to keep their employees on the payroll during the

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Inflation Reduction Act of 2022

By Dalton Bradshaw, CPA On July 27, 2022, Senate Majority Leader Charles Schumer and Senator Joe Manchin struck a deal to revive a Democratic reconciliation bill. The deal, coined  “The

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Have You Been Referred to Alliantgroup?

Alliantgroup is a national management and tax consulting firm that works with CPA firms and their business clients to identify and claim federal and state government tax credits. Started approximately

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BMSS Presents: A Government Contracting Summit

Register now for our in-person event! Register Seven (7) hours of CPE will be awarded for attending the whole day.  

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IRS Dirty Dozen List and Other Audit Triggers

Earlier this year, the IRS released its 2022 Dirty Dozen, the top twelve scams or potentially abusive transactions that could trigger an audit. This list is not exclusive and is

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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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