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So far Victor Garrido, CPA, EA has created 226 blog entries.
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IRS begins audits of corporate jet usage

Yesterday, the IRS released IR-2024-46 indicating that will put more focus on the audits of corporate jets. There is plenty of post over social media from the full deduction of corporate jets even on the last day of the year and other claims, which might not be applicable to every case. The IRS sends a

By |2024-02-22T16:40:33+00:00February 22nd, 2024|Categories: Business|Tags: , , , |

IRS still finalizing some forms for e-file acceptance

At the present time, the IRS is still finalizing some forms for the e-file acceptance. As a result, there could be rejections or errors on the e-file in certain forms or schedules are e-filed as part of the tax return. The U.S. Government Accountability Office GAO "...  provides fact-based, nonpartisan information to Congress. Often called

By |2024-02-19T04:26:10+00:00February 19th, 2024|Categories: Business, Individuals|Tags: , , , , , , , , , , , , , |

NJ Thrives – Small Business taxes & BOI updates RECORDED WEBINAR LINK

The NJ SBDC posted our webinar related to the Small business taxes and BOI (Beneficial Ownership Interest) updates. They have an extremely curated website where there are over 100 videos for subjects relevant to any business owner, check it out - NJ Thrives NJ SBDC. Link for the WEBINAR (Around minute 53 educational example to

By |2024-02-15T18:40:58+00:00February 15th, 2024|Categories: Business, Individuals|Tags: , , , , , , , |

HDBA Grant program up to $10k for certain PA businesses

Today, we have received a communication from PIDC that shared a new grant program that is available to certain businesses in PA. See below more details, like priority businesses and eligibility requirements, and the link to the application at the bottom of this post. "...In partnership with the Pennsylvania Department of Community and Economic Development,

By |2024-02-13T16:50:59+00:00February 13th, 2024|Categories: Business|Tags: , , , , , , , , |

Small Business Taxes & BOI Updates: Stay Compliant, Stay Informed – Webinar NJSBDC

Join us this Thursday at 12 PM for our next event, "2024 Small Business Taxes & BOI Updates: Stay Compliant, Stay Informed." 💸 Navigate the 2024 tax landscape with confidence! Join our webinar for 2024 tax updates, red flags, and insights on the new BOI requirement. 🌐 In this informative session, Victor Garrido, Managing Member

By |2024-02-06T19:57:07+00:00February 6th, 2024|Categories: Business|Tags: , , , , , , , , , |

Beneficial Ownership Interest (BOI) – General information and filing guidance (webinar link)

If you are a small business owner with an EIN or State registration, you are probably required to file identifying information about the individuals who directly or indirectly own or control your company with the Financial Crimes Enforcement Network in order to satisfy requirements under the Corporate Transparency Act. The Beneficial Ownership Information Reporting Rule

NJEDA – Additional programs for business owners

There are several programs currently available with NJEDA - Refer to the information below and the links for further details. Small Business improvement grant  The Small Business Improvement Grant provides reimbursement for costs associated with making building improvements or purchasing new furniture, fixtures, and equipment. Award Size - Reimbursement of up to 50% of total

By |2024-02-02T19:10:25+00:00February 1st, 2024|Categories: Business|Tags: , , , , , , |

NJ businesses purchasing manufacturing equipm up to $250k NJEDA award

The NJEDA program called New Jersey Manufacturing Voucher Program can be an excellent opportunity for businesses in the manufacturing industry that are planning on investing in equipment. The program will accept applications on February 12th, 2024.  For more details on the program, read below or go to the link at the bottom.  "... The New

By |2024-02-01T20:29:19+00:00February 1st, 2024|Categories: Business|Tags: , , , , , , |

BOI (Beneficial Ownership Interest) penalties increased to $591

Yesterday, Victor Garrido, CPA, EA, had a zoom call presentation about the "Beneficial Ownership Information (BOI) Report to avoid criminal and civil penalties" for the Greater Philadelphia Chamber of Commerce and his members. As we mentioned in our presentation, there are items that will keep changing regarding the Corporate Transparency Act passed in 2021. One

By |2024-01-26T15:58:13+00:00January 26th, 2024|Categories: Business|Tags: , , , , , |

The IRS to implement the Simple Notice Initiative

On January 23rd, the IRS released communication IR-2024-19 which provide more details on their Simple Notice Initiative. The IRS releases around 170 million notices / letters each year to taxpayers and the IRS wants to make it easier for the taxpayer to understand them, and hopefully reduce the number of follow up calls and communications

By |2024-01-24T18:18:21+00:00January 24th, 2024|Categories: Business, Individuals|Tags: , , , |
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