There has been , yet again, another significant update regarding Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). The Financial Crimes Enforcement Network (FinCEN) has issued an interim final rule that removes the requirement for U.S. companies and U.S. persons to report BOI to FinCEN.
Tax season is here, and if you’re preparing to file your 2024 return, you’ll want to be aware of recent tax law changes that could impact how much you owe or how much you get back in refunds. From adjustments in tax brackets to changes in deductions and credits, here’s a breakdown of key updates to consider when filing this year.
As a management member or board director of a nonprofit organization, you play a crucial role in overseeing its financial health and ensuring its sustainability. Understanding financial statements can seem daunting, but with the right approach, you can leverage them to make informed decisions and drive your mission forward. Here are some key tips and tricks for effectively reading, understanding, and analyzing financial statements.
As tax season approaches, many small business owners are leaving money on the table by overlooking valuable deductions. Staying informed about tax law changes and exploring lesser-known breaks can significantly reduce your taxable income. Here are some often-overlooked deductions to help you keep more of your hard-earned money: