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Update on the Corporate Transparency Act and Recent District Court Ruling

Co-Author: John Koechel The Corporate Transparency Act (“CTA”), passed in January 2021, aims to combat money laundering, terrorist financing, and other illicit activities by requiring certain companies to disclose specific information about their beneficial owners to the Financial Crimes Enforcement Network (“FinCEN”). In response to the passage of the CTA, the National Small Business Association … Continue Reading

Corporate Transparency Act: What is it and what should I know?

Co-Author: John Koechel INTRODUCTION In the ever-evolving landscape of legislative initiatives, the passage of new laws is a commonplace occurrence. The enactment of a new federal law often results in minimal impact on most individuals, typically not necessitating any specific actions on their part. The passage of the federal Corporate Transparency Act (“CTA”) is one … Continue Reading

Tax Guidance for New Businesses

Whether you are starting a new business or have a well-established one already in place, it is important to have experienced legal and tax counsel to provide ongoing guidance and advice. Business issues and legal documents can be confusing. Having a good attorney and the right legal documents in place can go a long way … Continue Reading

Tax Items for Divorce

If you are going through a divorce or separation, taxes may be the last thing on your mind. However, poor tax planning during this process can lead to huge headaches down the road. We have experience helping clients navigate the potential tax pitfalls that can negatively impact their marital estate. We can work alongside your divorce attorney to … Continue Reading

IRS Notice

Hopefully you never receive a dreaded IRS tax notice in the mail. IRS tax notices can be hard to interpret and even harder to know how to resolve. This is where we can help. We have over 20 years of experience dealing with the IRS and we can work with the IRS on your behalf … Continue Reading

IRS Audits

IRS Audits: The Probability and How to Survive One Fortunately, most taxpayers will never have to deal with the feared IRS audit (also called an examination). Historically, less than 1 percent of all individual tax returns are selected for audit each year. However, the likelihood of an audit increases based on several factors, including the … Continue Reading

IRS Notice for Small Businesses

After years of low examination rates, the IRS has recently announced that they are planning to increase audits of small businesses by about 50% during the 2021 tax year. They are even planning to hire more specialized auditors to strengthen their enforcement efforts in order to accomplish this increased audit rate. Although the possibility of … Continue Reading

Business Formation

Business Entity Selection Entity selection is one of the most important decisions a new business venture has to make.The choice you make about the structure of your business will affect how much you pay in taxes, the level of risk to your personal assets, and even your ability for funding. Our firm can help advise … Continue Reading

Operating Agreements Reminders

Important Reminders for Any Entity that requires an Operating Agreement. It is important to review each Operating Agreement each year; especially since there has been new rules that have been passed that affect certain aspects of the agreement. Below is a list of some items to help you review the agreement: Ensure that the new … Continue Reading

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