G&G Income Tax的动态

This is an update from my last post regarding the Corporate Transparency Act and this BOI reporting. Who knew? You better figure out if you need to comply or pay a Federal penalty... If you are smart enough and can do this yourself, great, go to https://fincen.gov/boi. Or, if your tax adviser or lawyer will help you, also good.. but if none of those work for you, go to this firm who can help you be compliant.... Get this done by 12.31.24... https://lnkd.in/gbsKdUg3 #smallbusiness

If you have ownership in a LLC, partnership, or a corporation, have revenue under $5,000,000 and/or under 20 employees YOU NEED TO PAY ATTENTION TO THIS! IT IS NOT OPTIONAL! If your company was formed prior to December 31st, 2023 you have until December 31, 2024 to file 2 reports with the U.S Department of the Treasury. 1 report for the company and 1 report, including a copy of the IDs, for each owner having equal to or over 25% beneficial ownership and/or who exercises substantial control over the company. If you don't make this deadline (the major downside) you will be fined $500/day up to $10,000 and possibly 2 years in prison. If you formed after December 31, 2023 you only have 90 DAYS!! Every group I have presented, have not heard of this new requirement. So, you can text me at [email protected] if you need help(after tax season) or call your tax professional or call an attorney. Certainly go to the Treasury website at https://www.fincen.gov/boi for more information. Please spread the word about this new requirement. Charlie Schwarz Kansas Tax Pros LLC

**IRS Tax Deadlines for Disaster-Affected Areas ?????** As we enter 2025, here’s an important update for taxpayers impacted by severe weather and natural disasters: The IRS has extended tax filing and payment deadlines for the 2023 tax year in multiple states. **Key Extensions** ?? **February 3, 2025** – Taxpayers in parts of 14 states, Puerto Rico, and the U.S. Virgin Islands. ?? **May 1, 2025** – For those affected by Hurricanes Helene and Milton. **Who Benefits** ? Individuals and businesses in designated disaster areas ? Taxpayers with records in affected regions ? Automatic relief for qualifying addresses—no need to apply This extension provides much-needed time for recovery and financial planning. Check your eligibility and make use of this extended timeline to manage your tax obligations. For more details, visit the IRS website or consult with a trusted tax professional. #IRS #TaxRelief #NaturalDisaster #TaxFilingExtension #FinancialPlanning https://lnkd.in/gqCjytdj

2022, 2023 and 2024 Florida Hurricanes- New Tax Bill provides relief Such natural disasters include Hurricanes Ian, Idalia, Nicole, Fiona, Debby, Helene, and Milton. The act would also allow Americans who faced losses from eligible disasters to claim such losses without itemizing such deductions for tax purposes. Moreover, such losses would not have to exceed 10% of a claimant’s adjusted gross income, as is currently the case, to qualify https://lnkd.in/eNkdrU8A

The IRS issued amended tax deadlines for areas affected by disasters. Included are individuals and businesses in the entire states of North Carolina and Georgia, which now have the deadline of May 1, 2025, for the 2023 and 2024 tax years. However, the update does note: "For extension filers, payments on the 2023 tax year returns are not eligible for the additional time because they were originally due last spring before any of these disasters occurred." #taxupdate #hurricanehelene

DISASTER RECOVERY We talked about getting prepared for a natural disaster, but what about after? Here are some steps that you can take to recover more quickly. PRIORITY LIST ?Expenses- Look at your bills and decide what can be put off or eliminated and what must be taken care of immediately. The roof over your head and the food on your table are the most important priorities. ?Debts- Stay in contact with your creditors as you prioritize payments. There is a lot they can do to help, but you have to ask for the help. ?Insurance- File your claim with your supporting documentation as soon as possible. The longer you wait, the longer it will take as their list of claims grows. ?Belongings- Decide what needs to be replaced first and what can be put off for later. Ask the question: "What is the worst thing that will happen if I don't replace this right now?" FINANCES ?Research tax breaks for losses related to the disaster. (See www.irs.gov or consult with a tax professional for more information.) ?Your insurance costs may increase after a disaster. Review your insurance to make sure you are getting the best coverage for the best price with the best company that you can. ?Go to www.disasterassistance.gov for federal assistance in recovery. I hope that you will never need these tips, but be prepared and smooth the path of recovery for you and your family. Cal Coast Credit Union offers a free Financial Fitness Service that can help you in case of financial stress. To schedule your appointment, please email [email protected] or call us directly at (858) 636-1630.??A Spanish speaker is available.

IRS assistance available to disaster victims of Hurricanes Helene and Milton; May 1 deadline for affected individuals and businesses The IRS reassured victims today that it is prepared to offer the?tax-related assistance?they require to recover from the devastating hurricanes that have ravaged Florida and the Southeast in recent weeks. The IRS automatically gives taxpayers whose address of record is in a disaster-area locality more time to file returns and pay taxes. Currently, taxpayers in the entire states of?Alabama,?Florida,?Georgia,?North Carolina?and?South Carolina, and parts of?Tennessee?and?Virginia, who received extensions to file their 2023 returns have until May 1, 2025, to file. Tax-year 2023 tax payments are not eligible for this extension. In addition, May 1 is also the deadline for filing 2024 returns and paying any tax due. In the wake of a disaster, victims can find a wealth of information on IRS.gov to assist them in navigating common situations. Disaster victims can call the agency’s disaster hotline at?866-562-5227. The hotline is reserved for taxpayers with questions about disasters. Additionally, the IRS encourages affected taxpayers to review all federal disaster relief at?DisasterAssistance.gov.

From the Internal Revenue Service: The Internal Revenue Service today announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina and South Carolina and parts of Florida, Tennessee and Virginia. Taxpayers in these areas now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments. Among other things, this includes 2024 individual and business returns normally due during March and April 2025, 2023 individual and corporate returns with valid extensions and quarterly estimated tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). Besides all of Alabama, Georgia, North Carolina and South Carolina, this currently includes 41 counties in Florida, eight counties in Tennessee and six counties and one city in Virginia. Individuals and households that reside or have a business in any one of these localities qualify for tax relief. The same relief will be available to other states and localities that receive FEMA disaster declarations related to Hurricane Helene. The current list of eligible localities is always available on the Tax relief in disaster situations page on IRS.gov. The Disaster assistance and emergency relief for individuals and businesses page has details on other returns, payments and tax-related actions qualifying for relief during the postponement period. https://lnkd.in/eKD53ah If you have further questions, please reach out to your local Virginia Small Business Development Center for assistance once you are in a position to do so. https://lnkd.in/eRfXA5u

The Federal Disaster Tax Relief Act of 2023 has finally been signed into law—what does it mean for victims of recent hurricanes? We’ve got the latest! #tax #disasterrelief

The Federal Disaster Tax Relief Act of 2023 has finally been signed into law—what does it mean for victims of recent hurricanes? We’ve got the latest! #tax #disasterrelief