Articles & Advice

The Financial Crimes Enforcement Network (FinCEN) is tightening regulations to improve transparency in business ownership, primarily through the implementation of Beneficial Ownership Information (BOI) reporting requirements. These requirements are aimed at helping combat illicit financial activities by ensuring that accurate and current ownership information is available to law enforcement and other authorities. If you own 25% or more of a company or have significant control over it, it’s essential to understand how the new BOI reporting requirements apply to you, particularly if your business was established before January 1, 2024, or is a new venture launched in 2024.

As summer draws to a close, small business owners balance numerous responsibilities—wrapping up seasonal sales, reflecting on the past few months, and preparing for the busy fall ahead. Amid all this, one crucial task that shouldn’t be overlooked is tax planning. The end of summer is an ideal time for small businesses to review their tax strategies. By taking proactive measures now, you can set the stage for significant savings and ensure a seamless transition into the year-end tax season.

In recent years, many workers have become engaged in the “gig” economy. You may think of gig workers as those who deliver take-out restaurant meals,...

The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA fundamentals An HSA is a...

Many businesses use independent contractors to help keep their costs down — especially in these times of staff shortages and inflationary pressures....

Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications....