The Corporate Transparency Act (CTA)

National Tax Advisory Group | Prager Metis | Feb 02, 2024

Commencing on January 1, 2024, the federal Corporate Transparency Act (CT) may require many domestic and foreign entities with less than $5,000,000 of annual gross receipts and fewer than 20 employees to file an informational statement with the federal Financial Crimes Enforcement Network (FinCEN).  Violations of reporting requirements may include criminal penalties of up to $10,000 and/or possible imprisonment of up to two years, and civil penalties of not more than $500 per day.  Click here to read more


Top Ten Year-End Tax Planning Checklist

As the year draws to a close, taking proactive steps in your financial planning can significantly impact your tax liability. This checklist provides a guide to key strategies that individuals can consider before the end of the year to potentially decrease their income tax. By strategically managing income, deductions, and investments, you can optimize your tax situation and position yourself for a more tax-efficient financial future.

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