As you may know, the Corporate Transparency Act (“CTA”) is set to take effect on January 1, 2024, impacting many privately held corporations, limited partnerships, statutory trusts, limited liability companies, and other similar entities. The goal of the CTA and its Beneficial Ownership Information Regulations (“BOI”) is to penetrate through layers of intermediate entities, and
Never Ignore an IRS Identity Verification Letter!
We have had many clients contact us regarding letters from the IRS requesting “identity verification.” Scammers often use stolen Social Security numbers to file fraudulent tax returns and collect refunds. To prevent this, the IRS scans every tax return for signs of fraud. If a suspicious tax return is found, the IRS reviews the return
IRS Alerts Taxpayers of Suspected Identity Theft
GOT MAIL? Scammers often use stolen Social Security numbers to file fraudulent tax returns and collect refunds. To prevent this, the IRS scans every tax return for signs of fraud. If a suspicious tax return is found, the IRS reviews the return and sends a letter to the taxpayer letting them know about the potential
ULTIMATE BUSINESS CONTINUITY AND DISASTER PLANNING GUIDE
ULTIMATE BUSINESS CONTINUITY AND DISASTER PLANNING GUIDE It is essential for business owners to be proactive in preparing for pandemics, hurricanes and other unpredictable disasters. Everything from severe winter storms, to a flood or wildfire, a supply chain failure, a serious SARS or flu epidemic, even an act of terrorism can put your business at
Best Way To Repay Your 401k
Rule #1 – don’t panic! Develop a repayment plan for your 401(k). If you tapped your 401(k) due to the pandemic, even if you are not ready to replace the funds, it’s not a bad idea to start to develop a plan to get back on track and saving again. Folks who took a coronavirus-related
Is Bankruptcy The Best Choice In Bad Economic Times
According to the American Bankruptcy Institute, commercial Chapter 11 bankruptcy filings for the first quarter of 2020 increased 14% over last year. Overall business bankruptcy filings increased 4%. Consumer filings are expected to start rising in early Summer. Given the pandemic and recession on the horizon, many businesses, large and small, are struggling to stay
Moving to Escape State Tax? Could You Pass the “Teddy Bear” Test?
Moving to Escape State Tax? Could You Pass the “Teddy Bear” Test? Are you a Northerner looking to flee to Florida to soak up sunshine and beat state income tax? Tax reform in the New York tri-state area hit high-earning residents with a new $10,000 cap on the federal tax deduction for state and local
Is Your Commercial Policy Up To PAR
Interested in a Life Insurance Policy Audit and Review? Contact Us.