BMD Professional Consulting CPAs

01/05/2025

Our team recently concluded a refreshing and inspiring year-end retreat in the Bahamas, where we celebrated achievements and prepared for the year ahead. We're delighted to share moments from this experience through pictures and videos, as we step into 2025 reinvigorated and ready to serve you with renewed passion and excellence!

12/27/2024

Another great review from one our clients - thank you Dr. Tyler-Cross

12/27/2024

Another great review from one of our clients ...

12/27/2024

What our clients are saying about our services ...

12/16/2024

At the Ethio-American Society of Financial Professionals (https://www.facebook.com/EthiopianSocietyofCPAs) , we had an incredible evening with phenomenal guest speakers from the banking and space industries. 🌟

The presenters behind the establishment of the first-ever African bank on U.S. soil delivered a historic and empowering message. 🇪🇹🇺🇸

We were also deeply inspired by Dr. Berhanu Bulcha, a NASA award winner recognized for his groundbreaking work in locating water on the moon. [https://www.bbc.com/news/world-africa-62768438]🚀🌕 His dedication to building the next generation of innovators through his nonprofit, Brighter Generation, is truly commendable. Learn more about his impactful work here: https://brightergeneration.info.

A huge thank you to all who attended and contributed to this unforgettable event! 🙌✨

11/27/2024

From all of us at BMDPC,

11/17/2024

We are thrilled to have attended Corporation's holiday party, celebrating an incredible year of achievements in 2024. Kreative embodies agility, skill, and a commitment to innovation, consistently delivering efficient and cost-effective solutions.
It has been an honor to be a part of Kreative's growth journey as a boutique business. We look forward to many more successful years ahead together. Congratulations, Kreative Corporation!

11/02/2024

Our team spent an Evening on Potomac River, business meeting organized by Bank of America. We spent quality time with fellow finance professionals and investors.

10/23/2024

🔑 Need Help with Filing Your BOIR Form and Closing Out Inactive LLCs?

** The Beneficial Ownership Information Report (BOIR) is a new requirement under the Corporate Transparency Act (CTA) for most U.S. businesses.

** Failing to file the BOIR by the deadline can result in penalties of up to $500 per day.

At BMD, we make the filing process quick, easy, and stress-free and assist with closing inactive LLCs.

📍 Serving:

09/10/2024

The increased competition between global powers for access to African markets is ultimately beneficial for African nations. It gives African leaders the ability to negotiate better terms, ensuring investments that align with their long-term development goals.

African countries stand to benefit significantly by partnering with the U.S. under its new trade and investment programs, rather than relying solely on Chinese investments and loans. The United States, through initiative...

09/05/2024

As the world grays, Africa blooms with youth.

Africa stands on the brink of a transformative era, driven by its rapidly growing youthful population.

By 2050, the continent’s population is set to nearly double, making up a significant share of the global workforce and offering immense opportunities.

This demographic shift will not only reshape Africa's economies but also redefine its relationships with global powers. Governments and businesses are positioning themselves to capitalize on Africa's youthful energy, rapid urbanization, and expanding consumer base.

Global powers are actively competing for access to Africa's fast-growing markets, with major initiatives like the Forum on China-Africa Cooperation, the Tokyo International Conference on African Development, and the Russia-Africa Summit reflecting this strategic interest. The United States, through its Prosper Africa initiative, is also stepping up efforts to enhance trade and investment ties, reinforcing its role in supporting Africa’s economic growth and shared prosperity.

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Africa is on the cusp of a remarkable transformation driven by its youthful population. With its population set to nearly double by 2050, Africa will account for a significant share of the global workforce and young popu...

07/18/2024

Each year, BMD team proudly support the annual conference of the National Council on Problem Gambling. This year, the conference is being held in San Diego, CA from July 17-19, and features world class presenters delivering powerful and insightful messages on problem gambling and responsible gambling. The conference will delve deeply into the various issue within the gambling industry, including the use of AI and Machine learning to collect and analyze big data to mitigate problem gambling.

07/04/2024

Happy Independence Day! Today, we celebrate freedom, unity, and the American spirit. Enjoy the festivities and have a safe and joyful holiday!

06/25/2024

IRS Tax Regulation on Excessive Executive Compensation for Nonprofits

🏁 Nonprofit organizations with highly compensated employees or those giving large retirement payouts may face an IRS tax on "excess executive compensation," requiring them to report and pay the additional tax due.

🏁 The tax targets Applicable Tax-Exempt Organizations (ATEOs) including nonprofits, cooperatives, utility companies, and political entities, focusing not just on executives but on the five highest-paid employees.

🏁 Compensation subject to this excise tax includes all wages reported for tax purposes, benefits like first-class travel, and payments from related organizations, calculated using the calendar year within the organization's fiscal year.
🏁 "Excess compensation" occurs when remuneration exceeds $1 million, or an "excess parachute payment" is made, defined as a payment over three times an employee's average salary from the last five years.

🏁 The excise tax, calculated using Form 4720 at a rate of 21%, is due by the organization's tax return deadline; organizations should review compensation packages that may trigger this tax.

If your nonprofit is subject to excess executive compensation, you will need to comply with additional requirements to report and pay the amount due.

06/25/2024

IRS Regulation on Excessive Executive Compensation for Nonprofits

🏁 Nonprofit organizations with highly compensated employees or those giving large retirement payouts may face an IRS tax on "excess executive compensation," requiring them to report and pay the additional tax due.

🏁 The tax targets Applicable Tax-Exempt Organizations (ATEOs) including nonprofits, cooperatives, utility companies, and political entities, focusing not just on executives but on the five highest-paid employees.

🏁 Compensation subject to this excise tax includes all wages reported for tax purposes, benefits like first-class travel, and payments from related organizations, calculated using the calendar year within the organization's fiscal year.
🏁 "Excess compensation" occurs when remuneration exceeds $1 million, or an "excess parachute payment" is made, defined as a payment over three times an employee's average salary from the last five years.

🏁 The excise tax, calculated using Form 4720 at a rate of 21%, is due by the organization's tax return deadline; organizations should review compensation packages that may trigger this tax.

https://www.marcumllp.com/insights/understanding-the-irs-tax-on-excessive-executive-compensation-for-nonprofits?utm_campaign=Nonprofit%2FSocial%20Sector&utm_medium=email&_hsmi=312979299&utm_content=312979299&utm_source=hs_email

06/19/2024

Happy Juneteenth! We celebrate freedom, strength, and unity.

Picture: curtesy of ChatGPT

06/07/2024

Today SBA Administrator Isabel Casillas Guzman signed an extension of the 8(a) Business Development Bona Fide Place of Business Requirement Moratorium which increases the opportunity for small and disadvantaged businesses to expand and grow.

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