W.E. Stevens P.C.

Business Taxes

Oh Boy, New BOI Reporting Requirements

January 18, 2024January 18, 2024

What is Beneficial Ownership Information Reporting? Beneficial Ownership Information (BOI) reporting is a federal requirement by the Corporate Transparency Act (CTA). BOI reports include information about all the company’s beneficial owners. Who is considered a Beneficial Owner? A

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Financial Planning

Make Smart Retirement Account Distributions

July 26, 2023

When it comes time to set up a retirement account, taxpayers may have questions about contribution limits and income thresholds, but many fail to consider how their distributions will be taxed. Instead, down the road when a taxpayer

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Business Taxes

Can a Mid Year Review Save Your Business Money?

June 23, 2023June 23, 2023

Before you get involved with other things, schedule a mid-year checkup. No, we’re not talking about the height/weight/blood pressure kind of checkup, we’re talking about the income statement/balance sheet/cash flow kind of checkup — a review of your

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New Reporting Law: Is It Unconstitutional?

What is BOI Reporting? Effective January 1, 2024, the Corporate Transparency Act (CTA) mandates many businesses must submit beneficial ownership information (BOI) to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). This led to the National

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April 18, 2024April 18, 20243 Min Reading

New Rule – Employee or Independent Contactor

New Rule – Employee or Independent Contactor Article Highlights: New U.S. Department of Labor Rule New Six Factor Test The Department of Labor (DOL) has a new rule defining whether a worker is an independent contractor or an

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March 8, 2024March 8, 20243 Min Reading

Oh Boy, New BOI Reporting Requirements

What is Beneficial Ownership Information Reporting? Beneficial Ownership Information (BOI) reporting is a federal requirement by the Corporate Transparency Act (CTA). BOI reports include information about all the company’s beneficial owners. Who is considered a Beneficial Owner? A

Read More

January 18, 2024January 18, 20243 Min Reading

Business Owners: Utilize Your Accountant!

Running a business is hard enough without adding the complexity of filing taxes each year. The key is to work with your accountant throughout the year, not just when you prepare your tax return. Making financial decisions without

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December 22, 2023December 18, 20234 Min Reading

2024 Payroll: Are You Prepared?

Handling employment taxes can be complicated, especially when you’re required to file important tax documents throughout the year. Here’s a quick recap of the most vital payroll tax forms and what you can do to make your payroll

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December 14, 2023December 14, 20232 Min Reading

Giving Gifts? Tax Tips to Help

Gift tax returns generally do not need to be filed unless you give someone, other than your spouse (if he or she is a U.S. citizen), money or property worth more than the gift tax annual exclusion for

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November 29, 20232 Min Reading

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