Update as of 1/6/25:The Merit Panel of the Fifth Circuit Appeals Court has reinstated the injuction against the BOI. The Beneficial Ownership Interest reports are again on hold until further notice. The Department of Justice took the case to the US Supreme Court several days ago. While that case is pending, businesses are not required …
Monthly Archives: December 2024
Increased Mileage Reimbursement Rates for 2025
Effective January 1, 2025, the IRS has increased the reimbursement rate for mileage deductions and reimbursements. According to the new rules, taxpayers will be able to claim: Please note that you must keep careful track of mileage for these purposes. We recommend a simple notebook, kept in the glove compartment of your vehicle, or using …
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BOI Scam Alert
From our Director of Taxation, Joseph Kim, CPA/MST: The U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an alert on December 18, 2024, to raise awareness of fraud schemes abusing FinCEN’s name, insignia, and authorities. Please note that these fraud schemes include scams which exploit Beneficial Ownership Information (BOI) reporting. The scammers may convince …
Company Christmas Blessings
On Friday, December 13, 2024, Phyllis treated the Ludwig staff to a Christmas celebration, with a brunch at Santiago’s Family Restaurant in Horsham, PA. Between discussing our plans for the holidays and our gratitude for the wonderful people we know through our client base. New to our team this year are Erin McManus-Varallo (third from …