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September 18, 2017

Personal Finance Series

Starting this week, BCS is hosting a six-week seminar series at Summit Leadership in Johnson City. This series will cover budgeting, credit and loans, insurance, investing, retirement and estate planning. While this series is geared toward young professionals, anyone is welcome. If you or anyone you know is interested, more information can be found at […]
September 5, 2017

CONSTRUCTION CONTRACTORS: UNDERSTANDING YOUR MONETARY LIMIT

By Jeremy Wright Back in August of 2016, BCS wrote a blog on how to obtain your contractor’s license. Today, we would like to discuss a contractor’s licensed monetary limit. What is a Monetary Limit? The Construction Contractor Application Package for the State of Tennessee describes the monetary limit as “the total dollar amount per […]
August 31, 2017

TNTAP – LOGIN NOW REQUIRED

By Amy Culler There is an important change to the TNTAP website effective September 1, 2017 that will affect anyone filing their monthly sales tax returns online without creating a login. Effective September 1, 2017, the TNTAP website will no longer offer the option to file without creating a login. There are instructions and demos […]
July 24, 2017

How to Pay Federal Tax Payments Online

By Jill Bickford IRS DIRECT PAY Link: https://www.irs.gov/payments/direct-pay Using this method, the taxpayer will be asked to verify their identity by using a prior year tax return (Filing status, name, social, date of birth and address used on the tax return). Example: Verification year is 2016 – taxpayer will use 2016 information filed on that […]
June 20, 2017

WHAT IS BASIS?

By Sarah Presnell WHAT IS COST BASIS AND WHY DOES IT MATTER? Determining basis can be confusing whether the transaction is simple or complex. It is easier to determine basis when an asset is first acquired rather than determining basis at the time the asset is sold. Therefore, the purpose of this article is to […]
April 3, 2017

Nonprofit Risk Assessment

By Kevin Peters In a previous blog post, Siena Rambo provided insight on fraud risk assessment and the importance of implementation of such a plan. This is such a critical component of sound board oversight and organizational control we wanted to provide another follow-up specific to nonprofit organizations.  An article published by the AICPA-Not-for-Profit Section […]
March 22, 2017

Accounting Today Ranks BCS as 16th in the Southeast

By Tommy Greer We are pleased to announce Accounting Today ranked BCS 16th in the Southeast Region in their annual review of the top accounting, tax and consulting firms. We have watched this ranking for the last 10 years and are excited to finally make the list considering the region/states covered. We are thankful for […]
March 17, 2017

Update on TNTAP Sales Tax Filing

By Sherri Dugger What if you don’t have all of the information to set up your TNTAP account before the due date of the Sales Tax Return? There is a short-term solution, but please be aware that this option is only available for the February and March 2017 filing periods. On the TNTAP website homepage, […]
March 14, 2017

How to Setup your Tennessee Taxpayer Access Point Account

By Teresa Adams Reminder: The filing due date for the February Sales Tax Return is March 20th, so now is the time to set up your new account on TNTAP. The Tennessee Department of Revenue has launched a new website called TNTAP or Tennessee Taxpayer Access Point. TNTAP is a free website that will make […]
February 3, 2017

Form 5500 – Is Your Health and Welfare Plan Compliant?

By Tara Fenner Given all of the recent changes to healthcare compliance requirements, it is not surprising that keeping up with the newest rules is challenging for some employers. However, we are seeing a rising number of issues with regard to a tax return filing requirement specific to insurance plans that isn’t new. In fact, […]