Beyond the Bottom Line Newsletter
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Dear BMSS Clients and Friends,
Treasury's Green Book Provides Details on 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 included in the Biden administration’s fiscal year 2022 budget submission to Congress. The Green Book provides more details regarding the administration’s tax proposals previewed in the American Jobs Plan and the American Families Plan.

The revenue proposals are just that, at this point – proposals that are not yet part of any bill introduced into Congress. The likelihood of any of these proposals being included in a bill and ultimately being enacted into law is uncertain. These proposals if enacted, however, would make very significant changes in a number of areas affecting business income taxes, as well as...Read More 
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 amount of the child tax credit is being implemented for 2021. The Act raises the child tax credit to $3,000 per child (or $3,600 for a child under the age of 6) from the previous $2,000 per child, subject to income limitations.

What is significant, however, is that the Act allows half of the credit to be received in advance on a periodic basis beginning in July 2021. Per the Treasury, $300 payments (depending on eligibility and income limitations) will be deposited into eligible taxpayers’ accounts beginning...Read More
Selling Your Defense/Government Technology Services Business: Insights from Industry Professionals

The time to prepare your business for sale is months, often years, before you intend to sell. So many decisions and considerations come into play. Please join us, regardless of where you stand in the lifecycle of the business you’ve built, for a comprehensive overview that will help you make smart choices for your business and for your family.

Join us via Zoom for this virtual event hosted by Twickenham Advisors.

Tuesday, June 22, 2021
9:00 a.m. CST