BREAKING NEWS

BMF Named a 2021 Best of the Best Firm!

We have again been named to the IPA’s 2021 Best of the Best Firms list, which recognizes the highest-performing firms within the accounting profession.

Articles & Publications

Bipartisan Budget Act of 2018 Extends Many Expired Tax Provisions Through 2017

The Bipartisan Budget Act of 2018 (The Act) was passed by the House and Senate in the early morning hours of February 9, 2018, and President Trump signed the bill later that day. There were 32 tax “extenders” (constantly. Read More >>

Benefit Plan Insights: 5 Common ERISA Red Flags

Any size retirement plan can run into serious trouble when sponsors aren’t careful. With some reasonable planning, your qualified retirement plan doesn’t have to be the target of the Employee Retirement Income Security Act (ERISA) litigation. Below we have. Read More >>

Tax Reform Series#1: Qualified Business Income Deduction

As you are aware, The Tax Cuts and Jobs Act was signed by the President on December 22nd “simplifying” taxes. As you may also be aware, the new tax law is more complex than it appears. We will be. Read More >>

Tis’ The Season For Gifting: 5 Reasons to Consider Filing a Gift Tax Return

Gift Tax is one of the most misunderstood taxes for individuals. Most people think since they will never exceed the lifetime gift exemption ($5,490,000 for 2017) that they do not need to file a gift tax return, but there. Read More >>

Trump’s Tax Reform: What’s in the Final Version?

On December 19, 2017, with a vote of 227-203, the House passed the final tax reform bill and the Senate followed with a vote of 51-48.  Due to a technicality on the bill, on December 20 the House re-voted. Read More >>

Will Tax Reform Be the Nation’s Gift This Holiday Season?

The Senate passed its “Tax Cuts and Jobs Act” bill in the wee hours of the morning Saturday, December 2nd. Will this be our biggest holiday gift (or a lump of coal) this year? That is yet to be. Read More >>

2017 Year End Tax Planning Moves for Businesses and Individuals

As 2017 starts to wind down, you may want to consider some strategic planning moves that may help lower your tax bill for this year and possibly next. Of course, significantly compounding the planning challenge this year is the. Read More >>

Senate Finance Committee Unveils Tax Reform Plan

  On November 9, the Senate Finance Committee released a draft of its tax reform bill. Although the bill is not expected to pass in its current form, it provides insight into what certain Republican Senators on this committee. Read More >>

GOP Leaders Reveal Tax Reform Bill

On Nov. 2nd, Kevin Brady, Chairman of the House Ways and Means Committee, introduced the “Tax Cuts and Jobs Act” (H.R. 1) which would overhaul and “simplify” the tax code.  We have summarized below some of the more prevalent. Read More >>

2018 Cost-of-Living Adjustments

October 20, 2017 Tax Advisor

  The IRS recently announced the 2018 cost-of-living adjustments (COLAs) that impact retirement plans and the Social Security Wage Base (SSWB). After the largest increase in 20 years in the SSWB from 2016 to 2017, the SSWB increased by. Read More >>