The Corporate Transparency Act (CTA) created new reporting requirements for certain entities. Beginning in 2024, many small businesses are required to report beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN) to create a national database for use by national security and law enforcement agencies to prevent the use of shell companies for criminal activity.(view article)
We were notified by the Peer Review Committee Reporting Acceptance Body that our most recent triennial peer review report with a pass rating was accepted. A "pass" rating is the highest form of rating a CPA firm can receive.(view article)
The federal estate top tax rate is 40%. The Federal estate tax exemption is $12,920,000 for 2023. The exemption for 2024 is $13,610,000. The annual gift exclusion is $17,000 in 2023 and $18,000 in 2024.
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2024, 2023, and 2022 Pension Plan Limitations & Social Security Wage Base (view article)
For convenience purposes, we have listed below the current amounts of the Section 179 and bonus depreciation limits. As with all tax regulations, there are stipulations and exceptions. Please call us with any planning we can assist you with.(view article)
WASHINGTON —(view article)
President Signs Omnibus Bill; Including Secure 2.0 Act of 2022(view article)
President Signs Scaled Back Reconciliation Bill Into Law
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021(view article)
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