Attention business owners! A significant regulatory change is on the horizon, and it’s one you can’t afford to ignore. Starting January 1, 2024, nearly all businesses operating in the United States will be required to file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network (FinCEN). What is Beneficial Ownership? Simply put, …
Tag Archives: tax complexity
US Local Income Taxes: A Primer
When it comes to filing taxes in the United States, we usually hear about federal income taxes and state income taxes, but we rarely hear about local income taxes. Compounding the problem is the fact that most tax preparation software and even some professional accountants rarely focus on local income taxes, which may lead to …