Big news for small business owners and U.S.-based entities: As of March 21, 2025, the BOI (Beneficial Ownership Information) filing requirement no longer applies to U.S. companies or U.S. persons under the Corporate Transparency Act (CTA). The Treasury Department and FinCEN issued a new rule that officially narrows the BOI [...]
Important Update Regarding BOI Filing: As of February 19, 2025, filing a Beneficial Ownership Information (BOI) report is now mandatory. This change is due to ongoing legal proceedings, and the final court decision remains unclear for small businesses. Current due date for existing businesses: March 21, 2025 By choosing to submit your [...]
Florida business owners: Do you hate paying for an annual report filing service every year? You still have to pay Florida's fee, but you don't need a third-party filing service! The State of Florida's website, Sunbiz.org, is the only official government website for business renewals. If you own a business [...]
The 2024 tax filing season begins January 27th 2025! Every year, AFSG provides you with detailed checklists to help you stay organized and up to date on the current tax laws. Below are links to our 2024 checklists, worksheets, and virtual appointment options. TAX CHECKLISTS From your phone, tablet, or [...]
In light of the recent federally declared disasters, we want to extend our thoughts to those affected. The IRS has extended certain tax deadlines for individuals and businesses in impacted areas. If you’ve been affected, you may have more time to file your tax returns or make payments. Please check [...]
The Internal Revenue Service (IRS) has recently addressed some common misconceptions surrounding Form 1099-K, aiming to clear up confusion and assist taxpayers in understanding their obligations. With changes and myths circulating, it’s crucial to know the facts about receiving and reporting via Form 1099-K. In November 2023, the IRS [...]
In a decisive move to clamp down on tax evasion, the IRS has announced a new series of audits targeting the use of corporate jets by high-income individuals, large corporations, and partnerships. This initiative, backed by the Inflation Reduction Act, aims to dissect the allocation of aircraft usage between business [...]
Unlock Savings for Your Business with the Employer-Provided Childcare Tax Credit In today's competitive business environment, offering childcare to employees is not just a perk—it's a strategy. It's a way to attract and retain top talent, improve employee satisfaction, and enhance overall productivity. Recognizing the importance and the challenges of [...]
Understanding the 2023 Tax Changes for Your Business As we step into a new tax year, it's crucial for business owners to stay informed about the latest tax changes and adjustments. The 2023 tax year brings several significant updates, largely influenced by recent legislative acts such as the SECURE 2.0 [...]
Effective January 1, 2024 Attention small business owners! The landscape of corporate compliance in the United States is set to change significantly with the enforcement of the Corporate Transparency Act (CTA) starting January 1, 2024. This law mandates many U.S. companies to report their beneficial owners - the individuals who [...]
