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A Cloudy Sunset – TCJA Set To Expire in 2026
Written by Russell Goodman Uncertainty looming in Washington has CPAs and taxpayers across the country wondering the same thing. What will happen if the Tax Cuts and Jobs Act (TCJA)
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Tax Treatment of Research and Experimental Expenses For 2022 Tax Filings
Written by Sarah Shirley The 2017 Tax Cuts and Jobs Act (TCJA) is the gift that keeps on giving, continuing to create significant challenges for taxpayers and their advisors in
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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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Proposed Regulations Take Aim at Estate and Gift Basic Exclusion
Written by Dalton Bradshaw, CPA In 2017, the passage of the Tax Cuts and Jobs Act (TCJA) brought about numerous provisions aimed at benefiting taxpayers, including within the estate and
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Update on the Alabama Electing Pass-Through Entity Tax Act Enacted During 2021
[The summary information below is not complete and is for informational purposes only. The information is not intended to be, nor should it be, construed or used as tax advice
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BMSS’ 2021 Year-end Tax Planning Letter
2021 has been a year filled with recovery from the pandemic and economic hardships of 2020. As many of the tax breaks legislators provided during the pandemic come to an
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Understanding Excludable Fringe Benefits
By: Cooper Melvin J.D., Staff Accountant Recent news has brought a focus on employer-provided fringe benefits and the consequences to employees and businesses if accounting is improper. Compliance with accounting
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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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Have You Considered Your Tax Planning Strategies?
As the end of 2019 approaches, you are likely giving consideration to year-end tax planning strategies. House Republicans and the Trump Administration are talking taxes, specifically a new tax cuts
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Guidance Released on Taxable Income from Parking and Other Fringe Benefit
By Marc Berger, CPA, JD, LLM The bill known as the Tax Cuts and Jobs Act, enacted in December 2017, added new Section 512(a)(7) to the Internal Revenue Code (IRC).
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