The new BOI reporting requirements The new BOI reporting requirements, effective January 1, 2024, apply to domestic and foreign companies created or registered to do business in the US by filing a document with the Secretary of State (or similar office). While...
How Streamlined Payment Processing Simplifies Accounting for Small Businesses Running a small business means wearing many hats, and managing finances can often be one of the most challenging tasks. Accurate bookkeeping, reconciling transactions, and preparing for...
End of Year Bonuses With the end of the year fast approaching, many companies issue bonuses at the end of the year to their employees. Please keep in mind that bonuses to employees are treated as payroll and taxes must be withheld. Also keep in mind that bonuses to...
What is a lame duck and what does it have to do with Congress? We’ll have some political lame ducks this year, and Congress will convene a lame duck session after the November election. A quick reminder about lame ducks: A member of Congress who lost his or her bid...
Identify Shares you are Selling You can often manage the size of your gain or loss when you decide to sell some, but not all, of a particular stock or mutual fund. To do this, you must have kept good records of the date and the price for each share purchase. By...
Make sure you make your RMDs! Reminder: Required minimum distributions (RMDs) must be taken by December 31. RMDs are mandatory withdrawals from certain retirement accounts, generally after you reach age 70½. You must take a withdrawal by December 31 if the rules...
