If you are a US citizen or resident alien (i.e. green card holder), then, you are suppose to file taxes with the United States authorities, especially at the Federal level (IRS) even if you do not live in the United States. The United States (and Eritrea, only two countries in the World) taxes its citizens
In this year so far, we have published several posts regarding the Beneficial Ownership Information (BOI) enforced by Financial Crimes Enforcement Network (FinCen). The latest BOI related post titled " When in doubt, keep filing BOI reports" from March 2024 expressed our recommendation to keep filing the BOI as the unconstitutional declaration by the U.S.
As mentioned in previous posts, we highly recommend to keep filing BOI post as needed even after the unconstitutional declaration by the U.S. District Court, N.D. of Alabama. In a press release from FinCen, this organization will not enforce the Corporate Transparency Act (and BOI filing) against the plaintiffs, but everyone else is still required
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
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
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,
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
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
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
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
