Posts Tagged ‘HOME’
March 21, 2025 New Deadline for BOI Reporting!
BOI reporting requirements are once again reinstated! Financial Crimes Enforcement Network (FinCEN) announced today, Wednesday February 19th, that a federal district court lifted the last remaining nationwide injunction from BOI Reporting filing requirements. The multitude of legal challenges has delayed, but not prevented, FinCEN from requiring BOI Reporting. FinCEN has extended the BOI Report filing deadline…
Read MoreShould Individuals Consider BOI Reporting Requirements?
The Beneficial Ownership Information (BOI) reporting requirements are aimed at combating illicit activities like money laundering and fraud. Effective January 1, 2024, most small entities (ie- corporations and LLCs) must file a report with the Financial Crimes Enforcement Network (FinCEN). It is easy to assume that this only applies to active businesses, but that is…
Read MoreThe New BOI (Beneficial Ownership Information) Reporting Requirements
UPDATE… Texas Federal Court issued a temporary nationwide injunction suspending BOI reporting requirements ( link to article ). The injunction is no longer in place. UPDATE… 5th District US Federal Court REINSTATED the BOI reporting requirements on December 23, 2024 (link to article). Please review the article below to help assess your situation and filing needs.…
Read More5 Tips When Calling the IRS – How to Talk to a Real Person
If you need to call the IRS and talk to a person to get help, you most likely are already frustrated and stressed. Placing the call doesn’t help your anxiety level because it is easy to get lost in the myriad of automated responses… “Choose 1 for this”, “Choose 2 for that”, etc. Sometimes…
Read MoreReduce Taxes Now! Take Steps Before Dec. 31st!
If you wait until April 15th to try and reduce your income tax, there will be very few things you can do. Now, before December 31st, review your situation and take action to minimize your current income tax. There is some uncertainty in which tax provisions Congress may decide to extend, but the majority…
Read More“Of Course They’re Tax Deductible” Part 1
I have a client who farms… and produces fish… and writes books… and does a bit of almost everything. He is smart and witty. At tax time, our review of income and “deductible” expenses can be very entertaining. He surprised me a few years ago by including a whole chapter in his new book dedicated…
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