BMSS News

2014 Year-End Tax Planning Letter

As 2014 draws to a close, year-end tax planning considerations should be starting to take shape.

We are still awaiting legislation regarding the possible renewal of fifty-seven individual and business tax provisions that expired at the end of 2013. These popular tax breaks were last extended by the American Taxpayer Relief Act of 2012. New legislation that would extend expired individual and business tax breaks has yet to be passed, making it more difficult to plan than in previous years. If negotiations break down between now and the end of the year, we may not have clarity until the new Congress convenes in January.

BMSS can help you navigate through the uncertainties of changing legislation and plan a year-end strategy that incorporates traditional and newer strategies to possibly help minimize your federal tax liability. We understand that the complexity of the law can make year-end tax planning overwhelming, but it is a necessity.

This letter covered some of the year-end planning opportunities and challenges for individuals and businesses regarding federal tax, but there are many more strategies that can possibly help reduce your tax liability over a period of time.  Also, state taxes should also be considered since the tax laws of many states do not follow the federal tax laws.

Based upon all that is new and all that expired in 2013, most businesses and individuals can benefit from a fresh assessment of how year-end tax planning can help reduce their overall tax liability for 2014.

Contact your BMSS CPA or call (205) 982-5500 if you have any questions regarding the opportunities presented in this letter or would like a more customized analysis of steps you or your business may take to minimize taxes and maximize overall tax opportunities. At BMSS, we also take this opportunity to provide a holistic planning/strategy session for you and your business beyond just tax planning.

We look forward to serving you in the future and discussing your year-end planning.

Read the 2014 Year-End Tax Planning Letter...

Please note our offices will be closed Thursday, November 27 and Friday, November 28.

Thanksgiving Holiday Office Closing

Our office will be closed Thursday, November 27 and Friday, November 28 to allow our employees time to spend with their families.

Happy Thanksgiving!

Careers at BMSS

At Barfield, Murphy, Shank & Smith we are always looking to create a better environment for our employees.

Barfield, Murphy, Shank & Smith is not like other accounting firms. Here, you can have a growing, fulfilling career - plus a life outside of work. We have created a workplace that encourages a LIFE / WORK balance.

Watch a video about what some of our Members have to say about the "Better Environment" we have at BMSS or check out some employee testimonials.

Read about our unique BMSS culture and the cool perks we offer employees beyond the standard benefits.  Two of our employees enjoy working at BMSS so much they created a rap video, "The History of BMSS".

CAREER OPPORTUNITY: BMSS is looking for an accountant with 1-2 years of experience. 

Sound like your kind of place to work? If so, mail your resume to:

Emily Dunlap
Barfield, Murphy, Shank & Smith
1121 Riverchase Office Road
Birmingham, AL 35244
edunlap@bmss.com

Birmingham Business Journal Best Places to Work     Wall Street Journal Top Small Workplaces 

Wall Street Journal Top Small Workplace

Winning Workplaces Sloan Award for Business Excellence in Workplace Flexibility

 

Personal Use of Company Auto

According to IRS regulations, the personal usage of company cars by employees must be treated as taxable compensation income (and is subject to normal payroll taxes).

In valuing this compensation, the general rule is that the employee's income is equal to what it would cost in a regular transaction to lease a comparable vehicle for the time used for personal purposes.

If you would like for BMSS to prepare this calculation for the dates of January 1, 2014 through December 31, 2014, please sign this letter and fill out the attached form for each employee who had personal use of an automobile owned by the business.

Fax the completed forms to the attention of James McGriff at (205) 982-5528 or e-mail it to jmcgriff@bmss.com.

In order for the calculations to be timely completed, all information must be returned no later than Friday, December 12, 2014.

If you have any questions, please give us a call at (205) 982-5528.

 

 

Business Personal Property Tax Returns (Ad Valorems) Due 12/31

We would like to take this opportunity to remind you that 2015 Alabama county business personal property tax returns (ad valorems) are due December 31, 2014. 

Business personal property owned as of October 1, 2014 must be reported to the county where the property is located on October 1, 2014.

Personal property assets or equipment necessary to operate your business include:

  • Furniture
  • Fixtures
  • Computer Equipment
  • Machinery & Equipment
  • Software
  • Vehicles or trailers which do NOT have tags

BMSS provides this service for a fee of $520 per filing per Alabama county and/or $200 for each "zero return". 

If you have business property located outside of Alabama and would like assistance filing in states other than Alabama, please make a specific inquiry at BMSS regarding this situation. The assessment dates and filing deadlines may vary by state, but we can help you determine those details.

If you have not been contacted previously and would like for us to provide this service for you, please contact Brad Brown at (205) 271-5472 or bbrown@bmss.com by November 14, 2014.  You will need to sign and complete this attached letter and worksheet and include the preprinted form provided by the county taxing official.

Alabama Taxpayer Identification Protection Program

The Alabama Department of Revenue (ADOR) has implemented a new identity protection program to protect taxpayers from criminals who use stolen information to file fraudulent tax returns.  In 2013, over 1.6 million Alabamians were victims of identity theft and tax refund crimes.

When ADOR receives a tax return it will be processed using new tools intended to detect possible fraud.

Selected taxpayers will receive a letter from ADOR asking them to complete a short confirmation quiz (either online or by phone) used to confirm identity. The request does not mean the individual is suspected of identity theft or has done anything wrong but is used to confirm the person's identity has not been stolen and used to file a false return.

Once the quiz has been completed the return will be processed.

If you receive a letter from the ADOR, please do not hesitate to contact your BMSS CPA.

Read a sample letter from the ADOR...

 

Beyond the Bottom Line October 2014

New Services from Payroll & Benefit Solutions

Going beyond the role of your outsourced payroll provider, Payroll & Benefit Solutions (sister company to BMSS) now offers expanded benefits and HR services designed to help you save time and money with the ability to scale and customize the options to suit your specific needs.

HR Support Services

Do you spend valuable time researching employment laws? Want access to advanced HR knowledge? Would you like to offer customizable HR benefits?

With different levels of service, Payroll & Benefit Solutions (PBS) can provide you with HR services including:

  • HR Professional as a dedicated point of contact
  • Benefit liaison - health insurance options for Health Care Reform
  • Online access to HR knowledge management system
  • HR audit & review – Employee files, FLSA, handbook, etc.
  • Employee onboarding
  • Claims/charges assistance
  • Secure document storage in the cloud
  • Management training

Benefit Options

Would you like to offer retirement and insurance benefits to your employees at a low cost? Confused about health care insurance options?  PBS is here to help you navigate your benefit options.

Supplemental Benefits

  • Aflac (Short-Term Disability, Hospital Advantage,Accident Indemnity, Cancer Care, Whole & Term Life)
  • No cost to employer
  • PBS handles all deductions and invoicing
  • PBS dedicated customer service/claims line

Small Business 401(k)

  • Open Multiple Employer Plan (MEP) - each company has its own policy
  • No size limitations
  • Lower administrative fees than traditional plans
  • More investment options
  • Shifted fiduciary responsibility

Contact your BMSS CPA to schedule a free consultation with PBS or call (205) 271-5400.

Alabama Unclaimed Property Report Due November 1

The Alabama Unclaimed Property Report is due November 1, 2014.  If your company or organization holds unclaimed property with situs in Alabama, you must file an annual report with the State of Alabama Treasurer’s Office. This report covers property that is deemed to be unclaimed as of June 30, 2014.  You may also have unclaimed property filing requirements with other states. Filing requirements and due dates vary by state. Read more about unclaimed property...

Beware Fake IRS Phone Calls

Be alert for telephone scams of callers that claim to be with the IRS. The scammers often demand money to pay taxes. Some may try to con you by saying that you are due a refund. The refund is a fake lure so you will give them your banking or other private financial information.

These con artists can sound convincing and may even know personal information about you. They may alter the caller ID to make it look like the IRS is calling and use bogus IRS badge numbers. If you do not answer, they often leave an “urgent” callback request.

Here are five things the scammers often do but the IRS will not do and are a sign of a scam:

  1. Call you about taxes you owe without first mailing you an official notice;
  2. Demand that you pay taxes without giving you the chance to question or appeal the amount;
  3. Require you to use a certain payment method for your taxes, such as a prepaid debit card;
  4. Ask for credit or debit card numbers over the phone;
  5. Threaten to bring in local police or other law-enforcement to have you arrested for not paying.

If you get a phone call from someone claiming to be from the IRS and asking for money:

  • Contact your BMSS CPA.
  • If you know you owe taxes or think you might owe, call the IRS at 1-800-829-1040 to talk about payment options. You also may be able to set up a payment plan online at IRS.gov.
  • If you know you don’t owe taxes or have no reason to believe that you do, report the incident to Treasury Inspector General for Tax Administration at 1-800-366-4484.
  • If phone scammers target you, contact the Federal Trade Commission. Use their “FTC Complaint Assistant” to report the scam and add "IRS Telephone Scam" to the comments of your complaint.

Additionally, the IRS currently does not use unsolicited email, text messages or any social media to discuss your personal tax issues.  

October Holds Many Celebrations

BMSS serves clients across numerous industries and provides a wide-range of accounting, auditing, tax and consulting services.  During the month of October, there were many national celebrations and honors we recognized to show support for our clients.

Per Diem Rates Remain Unchanged

The per diem rates to reimburse employees for expenses incurred during business travel beginning October 1, 2014 until September 30, 2015 remain unchanged from the rates used in 2013 - 2014.  The standard lodging per diem rate remains at $83 and the meals and incidental expense tiers also remain unchanged range from $46 to $71. The rate for the incidental expenses only deduction also did not change and is $5 per day. Read more about per diem rates...

BMSS & Employee News

Welcome! BMSS welcomes Brad Brown, CPA as a Senior Accountant and Robby Lilly as Staff Accountant. Hannah Avery returns as a Staff Accountant after previously interning with BMSS.

Abacus IT Solutions, sister company to BMSS, welcomes Randy Clark, Michael Spradling and Lee Kennedy as Network Services Technicians.

Patrick Bowman, CPA was inducted into the Troy University Accounting Hall of Honor.  Patrick holds a Bachelor's and Master's degree in Accounting from Troy University

BMSS was designated as an INSIDE Public Accounting (IPA) 200 firm. The IPA 200 lists the largest accounting firms in the U.S. This is the second year in a row that BMSS was named to this list.
 

 

Questions about this newsletter or how BMSS can help you?           Back to top of page           More News & Alerts

Alabama Unclaimed Property Report Due November 1

The Alabama Unclaimed Property Report is due November 1, 2014.

If your company or organization holds unclaimed property with situs in Alabama, you must file an annual report with the State of Alabama Treasurer’s Office. This report covers property that is deemed to be unclaimed as of June 30, 2014.  Alabama does not require negative reporting; that is, if you hold no unclaimed property as of June 30, 2014, a report is not required. You may also have unclaimed property filing requirements with other states. Filing requirements and due dates vary by state.

How Do You Know If You Have Unclaimed Property?

The links below will help you to determine if your business has reportable unclaimed property:

How Do You File Your Unclaimed Property Reports?

If you have reportable unclaimed property, the second link, "Reporting Forms and Instructions" will assist you in filing and remitted monies electronically.

What Do I Do If I Want BMSS to Prepare My Unclaimed Property Reports?

If you have reportable unclaimed property and you would like us to prepare the annual report for you, please contact Ross Mendheim. If you request that we prepare your unclaimed property report(s), our fees will be based on the standard hourly rates for the actual time incurred. If engaged, we will email you a schedule for completion and the unclaimed property reports will be prepared based on the information provided to us by you.

If you have any questions, please contact Ross Mendheim, one of our State & Local Tax Services professionals or call our office at (205) 982-5500.

New Services from Payroll & Benefit Solutions

Going beyond the role of your outsourced payroll provider, Payroll & Benefit Solutions (sister company to BMSS) now offers expanded benefits and HR services designed to help you save time and money with the ability to scale and customize the options to suit your specific needs.

HR Support Services

Do you spend valuable time researching employment laws? Want access to advanced HR knowledge? Would you like to offer customizable HR benefits?

With different option levels of service, PBS can provide you with HR services including:

  • HR Professional as a dedicated point of contact
  • Benefit liaison - health insurance options for Health Care Reform
  • Online access to HR knowledge management system
  • HR audit & review – Employee files, FLSA, handbook, etc.
  • Employee onboarding
  • Claims/charges assistance
  • Secure document storage in the cloud
  • Management training
  • Develop HR tools

Benefit Options

Would you like to offer retirement and insurance benefits to your employees at a low cost? Confused about health care insurance options?

PBS is here to help you navigate your benefit options.

Supplemental Benefits

  • Aflac
    • Short-Term Disability
    • Hospital Advantage
    • Accident Indemnity
    • Cancer Care
    • Whole & Term Life
  • No cost to employer
  • PBS handles all deductions and invoicing
  • PBS dedicated customer service/claims line

Small Business 401(k)

  • Open Multiple Employer Plan (MEP) - each company has its own policy
  • No size limitations
  • Lower administrative fees than traditional plans
  • More investment options
  • Shifted fiduciary responsibility

Contact your BMSS CPA to schedule a free consultation with Payroll & Benefit Solutions or call (205) 271-5400.

Welcome New Employees and BMSS Employee Honors & Recognitions

BMSS welcomes Brad Brown, CPA as a Senior Accountant and Robby Lilly as Staff Accountant.  Hannah Avery returns as a Staff Accountant after previously interning with BMSS. 

Abacus IT Solutions, sister company to BMSS, welcomes Randy Clark as Network Services Technician.

Keith Barfield, CPA, CITP wrote an article for the ASCPA magazine giving his insights into the Gartner Group's Top Strategic Technology Trends for 2014.

Derrel Curry, CPA presented at the 2014 CPAs in Business and Industry Conference sponsored by South Carolina Association of CPAs on the new Financial Reporting Framework for Small and Midsized Entities.

Patrick Bowman, CPA was inducted into the Troy University Accounting Hall of Honor.  Patrick holds a Bachelor's and Master's degree in Accounting from Troy University.

BMSS Named to IPA 200 List

BMSS was designated as an INSIDE Public Accounting (IPA) 200 firm. The IPA 200 lists the largest accounting firms in the U.S.  This is the second year in a row that BMSS was named to this list.

 

Beware Fake IRS Phone Calls

The IRS continues to warn the public to be alert for telephone scams and offers five tell-tale warning signs to tip you off if you get such a call.

These callers claim to be with the IRS. The scammers often demand money to pay taxes. Some may try to con you by saying that you’re due a refund. The refund is a fake lure so you’ll give them your banking or other private financial information.

These con artists can sound convincing when they call. They may even know a lot about you. They may alter the caller ID to make it look like the IRS is calling. They use fake names and bogus IRS badge numbers. If you don’t answer, they often leave an “urgent” callback request.

The IRS respects taxpayer rights when working out payment of your taxes. So, it’s pretty easy to tell when a supposed IRS caller is a fake. Here are five things the scammers often do but the IRS will not do. Any one of these five things is a sign of a scam.

The IRS will never:

  1. Call you about taxes you owe without first mailing you an official notice.
  2. Demand that you pay taxes without giving you the chance to question or appeal the amount they say you owe.
  3. Require you to use a certain payment method for your taxes, such as a prepaid debit card.
  4. Ask for credit or debit card numbers over the phone.
  5. Threaten to bring in local police or other law-enforcement to have you arrested for not paying.

If you get a phone call from someone claiming to be from the IRS and asking for money, here’s what to do:

  • Contact your BMSS CPA
  • If you know you owe taxes or think you might owe, call the IRS at 800-829-1040 to talk about payment options. You also may be able to set up a payment plan online at IRS.gov.
  • If you know you don’t owe taxes or have no reason to believe that you do, report the incident to TIGTA at 1.800.366.4484 or at www.tigta.gov.
  • If phone scammers target you, also contact the Federal Trade Commission at FTC.gov. Use their “FTC Complaint Assistant” to report the scam. Please add "IRS Telephone Scam" to the comments of your complaint.


Remember, the IRS currently does not use unsolicited email, text messages or any social media to discuss your personal tax issues.  
 

BMSS Staff Promotions 2014

BMSS is proud to announce recent staff promotions in our firm!

Kim Tarnakow, CPA was promoted to Senior Manager. Kim joined BMSS in 2005 and works in all areas of taxation, but specializes in mergers and acquisitions, research & development (R&D) tax credits and state and local taxes.

Promoted to Supervisor was Kate Fluker and John Schenk. Kate Fluker, CPA began at BMSS as an intern in 2009 and provides tax compliance, planning and advisory services along with business consulting and accounting services. She is actively involved in employee recruitment and training new employees on tax practices, standards and software. John Schenk, CPA, joined BMSS in 2012 after working with an international public accounting firm for 3 years and in a property and casualty insurance internal audit department. He specializes in providing accounting and auditing solutions to credit unions and financial institutions and currently serves as the Secretary for the Birmingham Young CPAs.

Caroline Cockrell and John Haggard were promoted to Senior Accountant and Luke Arnett, Conner Jones and Jennifer Mayfield were promoted to Staff Accountant B.
 

New Revenue Recognition Standard

The Financial Accounting Standards Board and the International Accounting Standards Board issued Revenue from Contracts with Customers in late May 2014. The new revenue recognition standard is principles-based, which is a big shift from and eliminates the industry-specific guidance under U.S. Generally Accepted Auditing Principles (GAAP) we have today. The revenue standard’s core principle is built on the contract between a vendor and a customer for the provision of goods and services. It attempts to depict the exchange of rights and obligations between the parties in the pattern of revenue recognition based on the consideration to which the vendor is entitled.

To accomplish this objective, the standard requires five basic steps:

(i) identify the contract with the customer,
(ii) identify the performance obligations in the contract,
(iii) determine the transaction price,
(iv) allocate the transaction price to the performance obligations in the contract, and
(v) recognize revenue when (or as) the entity satisfies a performance obligation.

Every entity’s daily accounting and the way it executes contracts with customers might be affected. Entities will generally be required to make more estimates and use more judgment than under current guidance, which will be highlighted for users through increased disclosure requirements.

What is the timeframe for implementation? Non-public entities are required to apply the revenue recognition standard for annual reporting periods beginning December 15, 2017, and interim periods within annual periods beginning December 15, 2018. Non-public entities can early adopt for annual reporting periods beginning December 15, 2016.

Although the required implementation date for non-public entities is more than three years away, companies should start to prepare for this change soon to choose the most appropriate transition method.

Three basic transition methods are available:

  • Full retrospective
  • Retrospective with certain practical expedients
  • Cumulative effect approach

Under the third alternative, an entity would apply the new revenue standard only to contracts that are incomplete under legacy U.S. GAAP at the date of initial application (e.g., January 1, 2017) and recognize the cumulative effect of the new standard as an adjustment to the opening balance of retained earnings. That is, prior years would not be restated and additional disclosures would be required to enable users of the financial statements to understand the impact of adopting the new standard in the current year compared to prior years that are presented under legacy U.S. GAAP.

Each transition option has pros and cons. It might be beneficial for your business to move from U.S. GAAP to the new Financial Reporting Framework for Small & Medium-Sized Entities.

In preparation for this change, the American Institute for Certified Public Accountants (AICPA) has established multiple industry-based task forces to develop new accounting guides containing helpful tips and illustrative examples for applying the new revenue recognition standard across various industries.

The AICPA Construction Contractors Revenue Recognition Task Force is one of the first groups to discuss the implementation issues and concerns they foresee. Here are their top 12 concerns for contractors so far:

  1. Disclosures and More Disclosures: Many new and potentially complex disclosures, such as more disaggregation of revenue, remaining performance obligations (i.e., deliverables) and contract balances, will be necessary.
  2. Accounting for Contract Modifications: Significant judgments in the accounting for change orders and claims will increase over the existing prescriptive accounting guidance.
  3. Training: The amount of training and time required to embed the new standard in every facet of the business will be significant, especially for project managers and other non-financial personnel who know GAAP as “how the system works.”
  4. Transition: Companies will face costly transitions, from determining opening balances and dual tracking for retrospective adoption, to system changes and key stakeholder education.
  5. Contract Value vs. Transaction Price: The new standard introduces the term “Transaction Price” which will need to be reconciled both conceptually and in value to the current and well understood term of “Contract Value.” Consideration will also need to be given to how variable amounts (e.g., award fees, liquidated damages, etc.) are factored into the determination of the transaction price.
  6. Systems Modifications: Significant system modifications will be needed to capture the additional information required under the new standard, including disclosures, tracking performance obligations and contract balances.
  7. Redevelopment of specific company policies: Most companies have well established and documented accounting policies under current GAAP; those policies will have to be revisited and changed based on the new guidance.
  8. Accounts Receivable: Philosophical changes may be required from the current practice of transferring amounts from “unbilled accounts receivable” to “billed accounts receivable” when an invoice is submitted to a client, to transferring amounts from “contract assets” to “accounts receivable” when a right to payment occurs, which may be unrelated to the timing of the invoice.
  9. Audit Requirements: Enhanced audit requirements will be necessary around the use of estimates in a financial statement audit and to understand and validate changes in internal controls and related processes.
  10. Key Metrics: Changes will likely be made to key financial performance metrics. Compensation, benefit arrangements, pre-qualification requirements and bonding/surety capacity may be affected.
  11. Tax Accounting: New differences between book accounting and tax accounting are likely to result from implementation of the new standard, as corresponding changes to the tax laws are not expected.
  12. Uncertainty: Since this standard affects a wide array of stakeholders, we will have to wait and see how the views of other regulatory bodies impact the application of these principles.
     

Talk with your BMSS CPA about how these new standards will affect your company.

 

Welcome New BMSS Employees

Welcome!

Wendy Mason joined BMSS as an administrative assistant in our estate and trust area.

Meredith Payne returned to BMSS as a Senior Accountant after serving two years as an accountant for the International Missions Board. Meredith previously worked at BMSS from 2010 – 2012. 

Payroll & Benefit Solutions, BMSS sister company, welcomed Jane Barnett as a Business Development Representative and James Randall as a Payroll Specialist.

BMSS Named a Corporate Citizen of the Year

BMSS is proud to have been recognized as a "Corporate Citizen of the Year" from the Birmingham Business Journal

Community service nurtures character, one of our core values.

Many opportunities to be involved present themselves to us and it just seems right to give back.  Many of the programs and events we've supported help bring camaraderie amongst our people.  The spirit of giving back has become second nature at BMSS and for that we are thankful.  Our firm believes that giving back and expecting nothing in return is an invaluable reward for us both personally and professionally.

We would like to take this opportunity to bring awareness to some of the organizations we are involved with - either as firm service projects, employee volunteer efforts or employees serving on their boards. 

Please take a moment to learn more about these organizations and their needs:

 

BMSS Named a Best Place to Work

BMSS was named a "Best Place to Work" for 2014 by the Birmingham Business Journal. We ranked #3 in the Medium Size Company category.  

The award was based on feedback from confidential employee surveys. Read the full article at the Birmingham Business Journal.

This is the seventh year in a row we are named a Best Place to Work. In 2010, we ranked #1! Read past award articles from 2007, 2008, 2009, 2010, 2011, 2012 and 2013.

Best Places to Work

Video: The History of BMSS

BMSS employees tell the story of how and why BMSS was founded and what it is like to work here.

 

 

Video lyrics:
(1991...The Pre-BMSS Era)
Been spending most my life
Wishing for a corporate 9 to 5
Come busy season time
Candles burn at both ends every night

Been spending most our years
Wishing we had picked diff-rent careers
It's not the job that brings the tears
It's the work that piles up to our ears

(Motivation for Formation)
Occupation
Oh Frustration
Gotta get out
You can use my Basement
First things first you can ask my wife
Gotta get back to less work more life
Shank says Barfield
Let's get Murphy
Sick of family life being such a worry
Escape the rat race of the hurry scurry
Something's gotta improve
Let's make a move
We'll do audits
And tax Projects
In a basement office
Baby, Let's make the move

(The BMSS WAY)
Alright stop,
Evaluate our mission
Family life with a lot less tension
Business - is picking up nicely
Enough to keep us busy daily and nightly
Will it ever stop yo, I don't know
It's 5 o'clock though, so let's go
To the extreme I run a tape, like a real boss
Family at home, more important than the gain or loss
Work Life Balance

(Taxes Up, Taxes In?)
Taxes Up Taxes In
Once we began
So much tax work
That we felt it's a sin
We needed some backup
other guys don't stack up
They called up Steve Smith
So the whole firm could rack up
He's taking it down
We're king of this town
Come join the best
Cause work abounds

(Ain't Nothin' but the Benefits)
1, 2, 3, and to the 4
Our reputation's more than just the name that's on the door
Ready to make an entrance and step it on up
Cause you know we're bout to change work up
Give me the chance to show you all that our standards aren't double
Working with some balance, now you know that ain't subtle
Ain't nothing but some benefits baby
To keep our CPA firm from going crazy
BMSS is the firm that pays me
Unbeatable with benefits for days, Ha!

(Baby Got Bingo)
I bill my time and I cannot lie
Most of the time it would make me cry
But when I bill for a bingo and 250 worth of singles
I get a big smile on my face
I get paid

(The Real Keith Barfield)
Ya'll act like ya'll ain't never seen a bald person before
jaws drop to the floor
cause you see my name on the door
Rocking a mustache (like you've never seen) before
Lookin like the guy from Austria that started a war
What's going on? oh wait, no wait you gotta be kidding he didn't just say what I think he did, did he?
And what I'm gonna do? Nothin my buddies, i find it funny and I think those staches are money
We just want to be like Keith, but one thing you should know, you can try to imitate but you will never duplicate cuz...
I'm Keith Barfield
Yes I'm the
real Barfield
All you other Keith Barfields are just imitating
So won't the real Keith....

(Concierge)
I'm gonna call our valet, they can get my dry cleanin',
they'll make bouquets, for my other half.....
they're the greatest concierge that's why they get paid,
No more errands left to run, now I got it made
And if it's downtown baby, I need to be dropped off
It's "yes" not "maybe", my cup is overflowin
It gives me the peace of mind, to know that I'm OK
No stress when it is mother's day my gifts on layaway

(Volunteer Days)
Habitat house, let us work it
put the frame up backwards let's reverse it
got 3 volunteering days left
got 3 volunteering days left
Got a soup kitchen, let me work it
Cut the carrots up, season it and stir it
got 2 volunteering days left
got 2 volunteering days left
Animal Shelter, let me work it
Clean the kitty litter, kennels, make it perfect
got 1 volunteering day left
got 1 volunteering day left
Got a bare wall, let me paint it
If it's wood panel, you know i can stain it
Got no volunteering days left
got no volunteering days left

(You can find me in Paris)
Go Vacay and still get paid yea
Cuz after ten years you can have a hay day
For a whole month PTO'n with your baybay
If you go to Florida, tell my gramps I say hey
You'll find me in Paris (par-eee)
With my family
I'm gonna take a month
Sabbatical for me
At the Eifel tower
Takin' a selfie
European holiday -- ten year anniversary

New Employees & Employee News February 2014

BMSS welcomes Laurie Holt in the newly created position of Guest Services Specialist!  Dianne Nance joined BMSS as a Bookkeeper.

John Shank, one of the founders of BMSS, was elected to serve as the American Institute of Certified Public Accountants (AICPA) council representative for Alabama.

BMSS Announces Three New Members

Barfield, Murphy, Shank & Smith is proud to announce that Scott Stevens and Patrick Bowman became Members on January 1, 2014. 

Scott Stevens, his wife, Shelley, and their son, Owen, enjoy travelling and spending time outdoors. Scott is a member at Haven Field Community Church, where he serves as Treasurer. 

Scott began his career in public accounting in 1997 and joined BMSS in 2000. He graduated from Stephen F. Austin State University with Bachelor’s and Master’s degrees in Accountancy. He is part of the firm’s Accounting & Auditing quality control team, is actively involved in the firm’s employee recruiting, serves on UAB’s Accounting Advisory Board and participates with the League of Southeastern Credit Unions.

Scott provides audit and consulting services for clients in the financial services industry, including credit unions, community banks and insurance companies, as well as manufacturers and businesses in the health care industry. Scott has taught training courses on credit union accounting and auditing including topics such as board literacy, NCUA regulations, and mergers and acquisitions. He also regularly meets with management and boards to discuss audit results and opportunities for improvement.

Patrick Bowman and his wife, Bennett, have two sons - Sam and Jack. Patrick lives in Hoover and enjoys fishing and traveling to the beach. His family is a member of Bluff Park United Methodist Church.

Patrick has worked in public accounting since 1999 and joined BMSS in 2001. He holds a Bachelor's and Master's degree in Accounting from Troy University. Patrick provides audit, review and compilation services as well as internal control reviews to clients primarily in the construction, manufacturing, governmental and not-for-profit industries. He has assisted clients during mergers and acquisitions, debt restructuring, strategic planning and has consulted clients regarding financial and operational issues and regularly presents financial statements and other reports to business owners and boards of directors.

Patrick is responsible for overseeing continuing education efforts for our governmental and not-for-profit auditors and monitoring updates in audit techniques and pronouncements. He serves on the Board of Directors of the Alabama Association of Nonprofits and is a member of the Government Finance Officers Association of Alabama.

Additionally, Henry Denbo joined Barfield, Murphy, Shank & Smith as a Member.  Henry previously owned his own practice which he founded in 1986. He will provide accounting and auditing services to clients in the construction, manufacturing, distribution and not-for-profit industries. Henry is a licensed CPA in Alabama and California.