Emergency BOI Reporting Requirements In 2021 Congress passed the Corporate Transparency Act aimed at reducing money laundering. It is a small business reporting requirement with potential penalties including prison for committing a felony by not reporting. Let me repeat that failing to fill out this form is a potential felony with two years of prison… Read More
2024 YEAR-END INCOME TAX PLANNING FOR BUSINESSES INTRODUCTION It’s hard to believe we are nearing the end of another year. Before we say goodbye to 2024, we believe it’s important to take a moment and review year-end tax planning opportunities. Examining your 2024 tax situation before year-end could lead to tax savings when you file… Read More
2024 YEAR-END INCOME TAX PLANNING FOR INDIVIDUALS INTRODUCTION It’s hard to believe we are nearing the end of another year. Before we say goodbye to 2024, we believe it’s important to take a moment and review year-end tax planning opportunities. Examining your 2024 tax situation before year-end could lead to tax savings when you file… Read More
The Corporate Transparency Act (signed into law on January 1, 2021) expanded anti-money laundering laws and created new reporting requirements for certain companies doing business in the US Beginning in 2024, many small businesses are required to report information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN) in an effort to create… Read More
2023 YEAR-END INCOME TAX PLANNING FOR BUSINESSES INTRODUCTION As we approach the beginning of a new year, it’s important to review 2023 for possible tax planning opportunities for your business. We believe a review of your 2023 tax situation could lead to tax savings when you file next year. To assist in your review, we’ve… Read More
2023 YEAR-END INCOME TAX PLANNING FOR BUSINESSES INTRODUCTION As we approach the beginning of a new year, it’s important to review 2023 for possible tax planning opportunities for your business. We believe a review of your 2023 tax situation could lead to tax savings when you file next year. To assist in your review, we’ve… Read More
2023 YEAR-END INCOME TAX PLANNING FOR INDIVIDUALS INTRODUCTION As we approach the end of another year, we believe it’s important to take a moment to review 2023 for year-end tax planning opportunities. Examining your 2023 tax situation before year-end could lead to tax savings when you file your tax returns in 2024. With that… Read More
2023 YEAR-END INCOME TAX PLANNING FOR INDIVIDUALS INTRODUCTION As we approach the end of another year, we believe it’s important to take a moment to review 2023 for year-end tax planning opportunities. Examining your 2023 tax situation before year-end could lead to tax savings when you file your tax returns in 2024. With that… Read More
While these changes won’t affect how you file in April, they may affect your financial decisions in 2023. Here are a few of the biggest changes: Standard Deduction: The 2023 standard deduction for married taxpayers filing jointly will be $27,700, an increase of $1,800 over 2022. Single filers and married people filing separately will get… Read More