BPS wants to ensure you have a firm grasp on Employee Retention Tax Credits (ERTC), and make you aware of the recent IRS Notice regarding ERTC scams. In short, fraudulent claims are being made on behalf of businesses which will likely result in steep fines and penalties to taxpayers. To mitigate these issues, we advise…

Courtesy of the IRS The Internal Revenue Service today issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning Jan. 1, 2023, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:…

Courtesy Columbia Regional Business Report  A new $50 million investment from Borealis, a Canadian food technology company, will enable Saluda-based Palmetto Gourmet Foods to expand operations and increase its workforce to 650 employees over the next year. Palmetto Gourmet is a noodle-making plant that produces Chef Woo and Ramen Express instant ramen noodles sold throughout…

BPS is pleased to announce that Ben Lynch, CPA, will be elevated to the firm’s leadership team as a principal effective January 1, 2023. Ben joined BPS in 2008, proving growing your own leader works. He now assumes strategic and operational responsibilities for the South Carolina-based, award-winning accounting and tax consultancy firm, which serves clients…