January 2024

Ethical Issues in Tax Planning: Conflicts of Interest

B2B, Blog, Business Strategies, Individual Strategies /

What does it look like to operate ethically in the world of tax planning? Fortunately, the Office of Professional Responsibility (OPR) provides guidance on key ethical questions. Their primary resource, known as Circular 230, covers “Regulations Governing Practice before the Internal Revenue Service.” Depending on your status and credentials, adhering to Circular 230 may even […]

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Ethical Issues in Tax Planning: Unauthorized Practice of Law and Competence

B2B, Blog, Business Strategies, Individual Strategies /

Behaving ethically should be a personal goal for every tax professional—but it is also required by law. To help guide you, the Office of Professional Responsibility (OPR) publishes a document called Circular 230 that covers “Regulations Governing Practice before the Internal Revenue Service.” Certain professionals, such as enrolled agents (EAs) and Annual Filing Season Program

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Amplifying Your Value to Small Business Tax Clients: Answering FAQs about the New Beneficial Ownership Information Requirement

B2B, Blog, Individual Strategies /

As 2024 kicks off, so do new legal requirements for small businesses. The Corporate Transparency Act took effect on January 1st, which means that many businesses will need to submit a Beneficial Ownership Information Report to the Financial Crimes Enforcement Network (FinCEN). These new regulations are intended to help the U.S. government identify small businesses

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Amplifying Your Value to Small Business Tax Clients: Advising on the New Beneficial Ownership Information Requirement

B2B, Blog, Individual Strategies /

In the rush to finish last year strong, small business owners may now find themselves caught off guard by the legal requirements awaiting them in 2024. This is where you can provide additional value to your tax clients, just by familiarizing them with the new beneficial ownership information requirement. This comes as part of the

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FAQs about the New Beneficial Ownership Information Reporting Requirement

B2C, Blog, Business Strategies, Individual Strategies /

The new year means new small business regulations—courtesy of the Corporate Transparency Act. Starting on January 1st, 2024, many small businesses now need to submit a Beneficial Ownership Information Report to the Financial Crimes Enforcement Network (FinCEN). Small businesses can unfortunately sometimes serve as a front for illicit business operations, such as money laundering. The

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Are You Ready for the New Beneficial Ownership Information Reporting Requirement?

B2C, Blog, Business Strategies, Individual Strategies /

As the new year begins, small business owners are likely focused on coming out of the gate strong, ready to tackle new revenue goals or even prepare for the 2024 tax season. Amid the hustle, the new reporting requirement from the Financial Crimes Enforcement Network (FinCEN) may come as a sudden surprise. The goal of

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