Financial Resources & News
BOI Filing Requirement Reinstated
The Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA) have been reinstated. Financial Crimes Enforcement Network (FinCEN) has announced March 21, 2025 as the revised deadline for most entities that are required to file. This announcement follows a series of legal challenges that briefly halted the filing requirement, only for the courts to lift the injunctions and revive the law. There are ongoing legal challenges and potential legislation that could alter the filing requirements. In addition, FinCEN is assessing its options for further modifying the filing deadlines. As of February 21, 2025, most reporting entities created prior to January 1, 2024 are required to file by March 21, 2025.
Beneficial Ownership Information (BOI) Reporting Requirement Currently Suspended Nationwide
On December 3rd, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction enjoining enforcement of the BOI reporting rules and has stayed the compliance deadline.
End-of-year tax strategies for individuals
As the year-end approaches, it’s time to for strategic tax planning. From assessing your current tax situation and understanding deductions to maximizing retirement contributions and managing investment gains, this guide offers valuable insights to help minimize your tax burden.
Smart year-end tax moves for businesses
As year-end approaches, small business owners face crucial tax planning decisions that can impact their financial health. From leveraging deductions and managing cash flow to understanding the intricacies of the QBI deduction, this article offers strategic insights to optimize your tax position before ringing in the new year.
2023 Year End Guide – Business Incentives & Tax Credits
There has been a lot of activity with tax incentives and credits for business in 2023. Following is a list of incentives discussed in this article.
2023 Year End Guide – Business Incentives & Tax Credits
The employee retention credit (ERC) is a refundable payroll tax credit for wages and health plan expenses paid or incurred by an employer (1) whose operations were either fully or partially suspended due to a COVID-19-related governmental order; or (2) that experienced a significant decline in gross receipts during the COVID-19 pandemic.
2023 YEAR-END TAX PLANNING FOR INDIVIDUALS
With rising interest rates, inflation and continuing market volatility, tax planning is as essential as ever for taxpayers looking to manage cash flow while paying the least amount of taxes possible over time.
2022 Year-End Tax Planning for Individuals
With rising interest rates, inflation and continuing market volatility, tax planning is as essential as ever for taxpayers looking to manage cash flow while paying the least amount of taxes possible over time. As we approach year end, now is the time for...
2022 Year-End Tax Planning for Businesses
U.S. businesses are facing pressure to drive revenue, manage costs and increase shareholder value, all while surrounded by economic and political uncertainties. Disruptions to supply chains brought about by the pandemic have continued into 2022. Inflation and...