Services
Our Specialties
About
Insights
Careers
Contact

Notice of Data Breach

608-356-7733

Client Hub

Portal

Notice of Data Breach

Services
Our Specialties
About
Insights
Careers
Contact

Category: Individual Tax

Whether you’re researching best practices or the latest tax news to minimize your individual income tax liability. We have the resources to help you maximize your return.

Protect Your Family’s Wealth Now

Agriculture & Forestry Industry, All News, Individual Tax, Real Estate Industry, Retirement & Financial PlanningSally CollingsLeave a comment

Have you inherited land from a loved one? If so, you might know the challenges of co-owning property with multiple…

Leave a comment

Why Investing Throughout Your Life is the Ultimate Retirement Gift

All News, Individual Tax, Retirement & Financial Planning, Tax Alerts & UpdatesMBE CPAsLeave a comment

Tax strategies are always available to help you make the most of your investment, regardless of age. Find out how…

Leave a comment

Proactive Tax Planning for Overtime Earnings

All News, Individual Tax, Tax Alerts & UpdatesMBE CPAsLeave a comment

Are we unknowingly putting a dent in our earnings by way of taxes? Let's find out how overtime earnings impact…

Leave a comment

Do You Have A Child? Here’s A Tax Credit You Can Claim!

Individual Tax, Tax Alerts & UpdatesMBE CPAsLeave a comment

The Child Tax Credit (CTC) is a tax relief that families can claim to support the costs of raising a…

Leave a comment

The Art of Giving: Tax Savings on Charitable Contributions

All News, General Business, Individual Tax, Nonprofit Industry, Professional Services Industry, Tax Alerts & UpdatesMBE CPAsLeave a comment

One of the ways to reduce your taxable income, and in turn, your tax liability, is to claim a deduction…

Leave a comment

Medical and Dental Expenses: What Can You Deduct?

All News, Healthcare Industry, Individual Tax, Professional Services Industry, Tax Alerts & UpdatesMBE CPAsLeave a comment

The strain that healthcare can have on your pockets can be minimized by writing off medical and dental care expenses…

Leave a comment

5 Tax Advantages of 529 Plans

All News, Individual Tax, Tax Alerts & UpdatesMBE CPAsLeave a comment

Save for college and get tax breaks! Learn about 529 plans and how they can help you grow your child's…

Leave a comment

Search

Search for:

Client Account

We are clients of the RSM Professional Services+ Practice. As a client, we have access to the Professional Services+ Collaborative, a globally connected community that provides access to an ecosystem of capabilities, collaboration and camaraderie to help professional services firms grow and thrive in a rapidly changing business environment. As a participant in the PS+ Collaborative, we have the opportunity to interact and share best practices with other professional services firms across the U.S. and Canada.

New Updates on the Corporate Transparency Act (CTA)

On December 3, 2024, a federal district court in the state of Texas has issued a nationwide injunction against the enforcement of the Corporate Transparency Act and its Beneficial Ownership Information (BOI) reporting requirement labeling it as “unconstitutional” (Texas Top Cop Shop v. Garland). At this moment, fines and penalties are not enforceable for not completing the BOI filing by the initial 1/1/25 deadline and reporting companies need not comply with the deadline until further order of the court. On December 5, 2024, the U.S. government filed an appeal against the preliminary injunction. It is still encouraged to file the BOI reports, or at a minimum, be ready to file at a moment’s notice. If the injunction is overturned, reporting companies will still need to file the BOI reports to stay in compliance and avoid penalties. If you have already completed your BOI filing, you are viewed as being in good standing with the Financial Crime Enforcement Network (FinCEN). We will update you with more information from the court case when it is provided.