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Advance Child Tax Credit Update and Bipartisan Infrastructure
In the last Beyond the Bottom Line newsletter, BMSS briefly discussed the Advance Child Tax Credit under the American Rescue Plan enacted in March 2021. The IRS will pay half
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The Advanced 2021 Child Tax Credit
Many of you may have received a letter from the IRS regarding the Advanced 2021 Child Tax Credit. As part of the American Rescue Plan Act, an increase in the
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Treasury’s Green Book Provides Details on the Administration’s Tax Proposals
On Friday, May 28, 2021, the Treasury Department issued the “General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals.” Also known as the “Green Book,” the 114-page document is
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“What’s My Business Worth?” A Business Valuation Can Help With the Answer
Written by BMSS Supervisor Dalton Hopper, CFE One of the most commonly asked questions from clients is, “What’s my business worth?” Whether you are planning to buy or sell a business,
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Tax Credits for COVID-19 Shots
In March, the Biden Administration signed the American Rescue Plan Act of 2021 (ARP), extending the availability of the Emergency Paid Sick Leave (EPSL) tax credit and the Emergency Family
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President Biden Introduces the American Jobs Plan
One week ago, President Biden outlined a massive $2 trillion infrastructure proposal to address some of the issues that his administration consider to be the country’s most pressing problems, including
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Alabama Electing Pass-Through Entity Tax Act
In a previous Beyond the Bottom Line, BMSS briefly highlighted certain Alabama legislation passed earlier this year and signed into law by Governor Ivey. One provision that passed deserves additional
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PPP Update for Schedule C Filers
The SBA announced changes late on March 3rd to the PPP in the attached interim final rule that can impact schedule C filers. These borrowers may now receive, on new
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BMSS Presents: Year-End Planning and Post-Election Tax Updates Webinar Recording & PowerPoint Slides
On Tuesday, December 1 we hosted the webinar, BMSS Presents: Year-End Planning and Post-Election Tax Updates. We were also fortunate to have Bradley Partners Bruce Ely and William T. Thistle, II
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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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Notice of Annual Renewal of Alabama Tax Licenses
Beginning November 1, 2020, taxpayers will be required to renew the State of Alabama Tax License annually. The My Alabama Taxes (MAT) website will provide the ability for the business
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13th Annual Credit Union Roundtable
Credit unions are part of a highly regulated and constantly changing industry. How do you keep up with all of the developments? Join our Credit Union professionals as they provide
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