For foreign investors seeking to establish a business presence in the United States, the Single Member Limited Liability Company (LLC) serves as an attractive and flexible option. Understanding the tax filing requirements for a foreign-owned Single Member LLC, classified as a disregarded entity by the Internal Revenue Service (IRS), is crucial to ensuring compliance [...] Read more
Beneficial Ownership Information Reporting (BOI) stands as a critical component in financial transparency, aiming to combat money laundering and illicit financial activities. Filing BOI reports with the Financial Crimes Enforcement Network (FinCEN) is a mandatory process for various entities, ensuring a clearer understanding of the individuals behind a company or entity. Below you can [...] Read more
With effects of Covid still impacting the economy, it’s not too soon to start looking forward to next year’s return as 2021 seems to be another tricky tax year, here’s what you can do to stay prepared. Stay On Top of Your Important Documents and Information Federal threshold for issuing the 1099-K will drop [...] Read more