New Federal Reporting Requirements for Some Companies This letter is to make you aware of reporting requirements that went into effect on Jan. 1, 2024, that may require a business entity to report its beneficial ownership information (BOI) to the federal government. Beginning Jan. 1, 2024, many companies in the United States will have to…… Read More

Storing tax records: How long is long enough? Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the “three-year law” and leads many people to believe they’re safe provided they retain their documents for this period of time. However, if the IRS believes you…… Read More

Managing household employees can be a rewarding experience, but it also comes with responsibilities. Particularly when it comes to understanding and complying with IRS rules. When you hire a household employee, you become an employer and are responsible for filing Schedule H and remitting payroll taxes on behalf of your employees. You may have never…… Read More

We’re more than halfway through 2023, and there has already been a great deal of tax news coming out of Washington, DC. Keeping up with the changes can be time-consuming. That’s why we’ve assembled this newsletter, which includes brief explanations of the top tax changes that may impact you or your businesses. Feel free to…… Read More