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 …
Category Archives: Consulting
UPDATED: Beneficial Ownership Information (BOI): Do You Need to Act?
UPDATE (12/05/2024): Today, a federal court in Texas issued an injunction applying to taxpayers nationwide, where they state that small businesses affected by BOI reporting deadline of January 1, 2025, do not need to comply with the filing deadline. However, the AICPA recommends that CPAs assisting their clients with the BOI continue to gather the …
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Forecasting: Financial not Weather
As many of us have found out in the last years, there is a lot of uncertainty in the world. This applies to business too. It is important to have a trusted firm to handle your financial forecasting. Someone who knows the most up to date technologies and is looking to see what is coming. …
Work Smarter, Not Harder: Improving Employee Productivity
The CEO of Wayfair and Co-founder Niraj Shah recently came under fire for a year-end message to the company’s employees: “Working long hours, being responsive, blending work and life, is not anything to shy away from,” and stated that he believes his employees should work longer hours. However, longer hours do not equate to greater …
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Which Business Structure is Right for You?
A lot of people want to work for themselves. That’s one of the conclusions of the September 2023 report The Global Entrepreneurship Monitor, an annual study by Babson College. They found that 19% of adults—nearly one in five—have founded a business in the past three and a half years, or in the process of founding …
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Paycheck Protection Program Loan Relief Calculator: Maximizing & Tracking Your Loan Forgiveness
Many of our clients are beginning to feel a sense of relief as funds from the Paycheck Protection Program are finally starting to appear in their bank accounts. Unfortunately, some companies are still waiting to be approved for the second round of funding that was just passed earlier this week. In either case, getting the …