Tax Tips

Retirement Savings for Small business owners

Maximizing Retirement Savings as a Small Business Owner

Introduction As a small business owner, you dedicate endless hours and hard work to make your entrepreneurial dreams a reality. However, amidst the hustle and bustle of running your business, it’s crucial not to overlook one critical aspect of your financial future: retirement planning. Building a substantial nest egg is essential to ensure a comfortable

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FinCEN is presenting regulations regarding the access to beneficial ownership information.

FinCEN is presenting regulations regarding the access to beneficial ownership information.

According to the Treasury’s FinCEN, a company’s beneficial owners refer to the individuals who have ultimate ownership or control over the company. In its Notice of Proposed Rulemaking (NPRM) issued in December, FinCEN stated that sharing information about these owners will aid in the prevention and detection of money laundering, terrorist financing, tax fraud, and

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Three Intelligent Approaches to Prepare for Next Year's Taxes in Advance

Three Intelligent Approaches to Prepare for Next Year’s Taxes in Advance

KEY TAKEAWAYS Financial experts emphasize the importance of preparing for next year’s taxes early, especially if you encountered unexpected tax bills this season. Consider the following three smart strategies: reviewing your 2022 filing, assessing your withholdings, and reevaluating your portfolio. If you were taken by surprise with a tax bill this year, it’s never too

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The Florida legislative body, has passed a tax relief package worth 1.4 billion dollars

The Florida legislative body, has passed a tax relief package worth 1.4 billion dollars

Here is what you need to know about the tax relief package by Florida House. On Thursday, the Florida House passed a comprehensive $1.4 billion tax package, which includes a long list of benefits for consumers and businesses. This relief package, which is now heading to the Senate for final approval, provides over $200 million

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Are you confident that your Partnership or LLC is ready for a possible audit?

On September 1, 2020, the Internal Revenue Service (IRS) added a new section called the BBA Centralized Partnership Audit Regime to its website, IRS.GOV. The step was taken as part of its objective to increase partnership audits in 2021. Prior to January 1, 2018, when the IRS audited a partnership, tax, interest, or penalties owed

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The Secure Act 2.0 and the Importance of Retirement Savings

Retirement is an important part of every individual’s financial life, and the recently passed bipartisan budget bill includes provisions that aim to increase access to retirement savings for all Americans. In this article, we will explore the key elements of the retirement savings package and how it will benefit individuals and families. The SECURE 2.0

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