Apr 23, 2024 | Business Planning, Closely Held Business, Tax News
Being a business owner often means filling out forms, and the IRS and Department of Labor aren’t the only government entities you have to work with. The Equal Employment Opportunity Commission wants information too — from companies with more than 100 employees....
Mar 28, 2024 | Business Planning, Closely Held Business
Let’s say you’re a small business that doesn’t have enough employees to warrant an entire human resources department. At the same time, the idea of manually doing payroll just doesn’t suit you. After all, who wants to tackle payroll when there...
Mar 12, 2024 | Business Planning, Closely Held Business, Tax News
Your recordkeeping system should include a summary of every transaction that takes place in your business’ name. Make sure you maintain and update a summary of all business transactions. How to log and track your business tax records It’s best if you allocate...
Mar 6, 2024 | Business Planning, Closely Held Business, Tax News
Reposted from The New York Times, March 3, 2024 news article. An Alabama judge barred the government from collecting certain company ownership data to help the Treasury Department identify money launderers, and called the effort a case of congressional overreach. In a...
Feb 29, 2024 | Business Planning, Closely Held Business, Tax News
As explained in a FinCEN release, the bipartisan Corporate Transparency Act, enacted in 2021 to curb illicit finance, requires many companies doing business in the United States to report information about the individuals who ultimately own or control them. Companies...
Feb 27, 2024 | Business Planning, Closely Held Business, Tax News
Any recordkeeping system that suits you and your company and clearly shows your income and expenses is OK with the IRS. It’s the business you’re in that affects the type of records you need to keep for federal tax purposes. How long should you keep...
