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Business Personal Property Tax Reminder
It’s time for Business Personal Property Tax Returns! Keep an eye on your mail for the 2022 tax year return from your county, and your OPPAL pin for online filing.
Read More Your Alabama Unclaimed Property Report is Due November 1, 2021
If your company or organization holds unclaimed property with situs in Alabama, you must file an annual report with the State of Alabama Treasurer’s Office. This report covers property that is
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IRS Program for Auditing Large Partnerships to Begin Soon
Last month the IRS released a revised Publication 5319, the Large Business and International (LB&I) Focus Guide for fiscal year 2022. In recent editions of Beyond the Bottom Line, we
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The Importance of Retaining Tax Records
By: Cooper Melvin, J.D. We discussed in a recent Beyond the Bottom Line that the Biden administration’s tax plans include significant funding increases for the IRS. Therefore, in the coming
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Business Personal Property Tax (Ad Valorem) – Looking Forward
Business Personal Property Tax Return deadlines are quickly approaching! Take a look below at some of the things to consider in the coming weeks. What is the Business Personal Property
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Update on the Biden Administration’s Tax Proposals
By Cooper Melvin, J.D. In June, we provided a summary of the Green Book proposals, a glimpse into the Biden administration’s tax plan. On Monday, House Committee members made a
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Expectation of Increasing IRS Audits in the Future
Our experience at BMSS over the last three to four years is that we have seen fewer examinations of taxpayers than we did in the years prior to that period.
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Update on Infrastructure Legislation and Budget Blueprint
In last week’s Beyond the Bottom Line, we presented an overview of the Infrastructure Investment and Jobs Act. The bill passed the Senate yesterday in a 69-30 vote and now
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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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