Businesses: It's Time to Get Ready for the New Corporate Transparency Reporting Rules

Attention: Your business may soon have to meet new reporting requirements that take effect on January 1, 2024. Under the Corporate Transparency Act (CTA), which was enacted in 2021, certain companies are required to provide information related to their "beneficial owners"—the individuals who ultimately own or control the company—to the Financial Crimes Enforcement Network (FinCEN). Failure to do so may result in civil or criminal penalties or both.

Options for Overfunded or Unused 529 College Savings Accounts

Section 529 plans can be a tax-smart way to save for college and other qualified education...

Partnerships: Tax Considerations When Adding a New Partner

Are you considering inviting an employee or an outsider to participate in your existing...

Crypto: What Taxpayers Need to Know

Cryptocurrencies have gone mainstream. You can now invest in them and use them to buy and sell many...

Mobile Banking App Users: Beware Malware Scams

Mobile banking has been gaining in popularity, and the pandemic only intensified the interest. Many...

Federal Tax Obligations When a Business Shuts Down

Is it time to close your small business? Unfortunately, closing isn't as simple as handing over the...

Help Avoid Costly Mistakes with a Review of Plan Administration Basics

Once annual enrollment has come and gone, it's a good time to brush up on some basic employee...

Joint Ventures: How They Can Open New Doors

Joint ventures are common in the construction industry, especially with large long-term projects....

How to Curb Automotive Hacking

Automotive hacking is on the rise. The number of cyberattacks into vehicle computer systems...

What Are the Tax Implications of the New Lease Accounting Rules?

Private businesses implemented new lease accounting rules in 2022, resulting in a major shift in...

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