owner

Beneficial Ownership information – Required FinCEN report for businesses
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Beneficial Ownership information – Required FinCEN report for businesses

Business

Beneficial Ownership information – Required FinCEN report for businesses

From January 1st, 2024, any new company (exemptions are listed below) will have 30 days to file their initial Beneficial Ownership information (BOI) report. For the companies already in business before that date, the BOI has to be filed before January 1st, 2025. Also, you should be reporting any changes in the BOI within the

By Victor Garrido, CPA, EA|2023-09-22T14:36:39+00:00September 22nd, 2023|Categories: Business|Tags: 2024, 2025, beneficial, BOI, business, FinCen, information, owner|

More and more States adding a Pass Through Entity Level tax
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More and more States adding a Pass Through Entity Level tax

Business, Individuals

More and more States adding a Pass Through Entity Level tax

Since Connecticut enacted the first Pass Through Entity (PTE) tax in April 2018, more States have enacted or proposed this tax tool. It was around 14 in June 2021, around 30 in January 2023 and at the date of this article is 36 States and one localty (NYC) according to the AICPA listing (link below).

By Victor Garrido, CPA, EA|2023-08-07T17:26:49+00:00August 10th, 2023|Categories: Business, Individuals|Tags: $10k, business, deduction, Entity, irs, owner, Pass, PTE, SALT, State, tax, through|

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