Did You KNOW?

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  Hello everybody get ready for Tax Day 2024 with these eight essential tips. Learn what taxes are, the tax brackets for 2024, and more.  Here is a link to check for the new laws as following (https://www.schwab.com/learn/story/taxes-things-to-know-now). This information is available for research at http://www.irs.gov
2024 standard mileage rates – Beginning January 1, 2024, the standard mileage rates used to calculate the deductible costs of operating a car (also vans, pickups or panel trucks) are 65.5 cents per mile for business use. For details, see IRS issues standard mileage rates for 2024; business use increases 3 cents per mile.

   For 2024, federal guidelines are mandating all companies file a BOI Report (Beneficial Ownership Information Report). This document shows proof of ownership of your business. Additionally, if this report is not file no later than January 1, 2025, penalties are possible. Please see the link below for additional information. (https://www.irs.gov/individuals/international-taxpayers/beneficial-owners) 

Please see the following link to file your report (https://boiefiling.fincen.gov/fileboir).