tax - BMSS, LLC

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

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

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

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.

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

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

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

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

“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,

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

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

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

The Importance of Retaining Tax Records

The Importance of Retaining Tax Records

Business Personal Property Tax (Ad Valorem) – Looking Forward

Update on the Biden Administration’s Tax Proposals

Expectation of Increasing IRS Audits in the Future

Update on Infrastructure Legislation and Budget Blueprint

Advance Child Tax Credit Update and Bipartisan Infrastructure

The Advanced 2021 Child Tax Credit

Treasury’s Green Book Provides Details on the Administration’s Tax Proposals

“What’s My Business Worth?” A Business Valuation Can Help With the Answer

Tax Credits for COVID-19 Shots

President Biden Introduces the American Jobs Plan

Alabama Electing Pass-Through Entity Tax Act

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