As 2025 begins, we at Wouch Maloney are continually grateful for the opportunity to serve you. We hope that you enjoyed the holiday season and had a chance to spend time with family and friends. As always, as your trusted business advisors, we are here to assist you with navigating the ever-changing tax laws. Items […]
The 2025 tax filing season will begin on Monday, January 27, 2025. In order to help you prepare for tax season, we have a few reminders and tips to help streamline processes. Verify and Update Identification Numbers Prior to sending your tax information to us, please be certain to verify and update the following information: […]
The online portal for Pennsylvania business owners to file an annual report opened on January 6th. Most domestic and foreign filing associations are required to file an annual report in 2025. Details of the filing requirement are below. For additional information, please visit the Commonwealth of Pennsylvania website at dos.pa.gov/AnnualReports or call 717-787-1057 for more […]
On December 27, 2024, FinCEN published an update on the impact of ongoing litigation regarding BOI Reporting and the filing deadline dates reported in our December 26, 2024, WM Wisdom. As of December 27, 2024, reporting companies may voluntarily submit BOI reports as there is now a deadline stay due to a recent federal court […]
SEE 12/30/2024 UPDATE REGARDING BOI REPORTING ON HOLD: Click here. Due to a federal Court of Appeals decision made on December 23, 2024, reporting companies are once again required to file beneficial ownership information (BOI) with FinCEN. The new deadline for most firms is January 13, 2025. The Department of the Treasury has recognized that […]
With the final weeks of 2024 fast approaching we would like to offer the following reminders to help reduce or eliminate errors while you complete year-end payroll processing. Year-end Payroll Processing Checklist Holiday Impacts If your check date falls on either of the following dates, you should adjust it to avoid delaying your employees’ payroll […]
In the November/December issue of our Valuation and Litigation Briefing, we provide information on business interruption claims, the valuation of corporate-owned life insurance (COLI) for estate tax purposes, the denial of a debtor’s discharge during bankruptcy and more. Articles in this issue: As always, if you have questions or currently in need of business valuation […]
We are pleased to announce the November/December 2024 issue of Contractor is available online. In this issue, we provide 10 tips to consider when laying the foundation for accounts receivable management, areas of a contract to pay attention to during fast-tracked construction projects, and more. Articles include: As always, if you have questions on any […]
As we reported in our July 31, 2024 Wednesday Wisdom, domestic and foreign reporting companies that are created or registered by filing documents with the secretary of state (SOS) or similar office are subject to the Beneficial Ownership Information (BOI) Reporting requirements. This includes a corporation, an LLC, or any other entity type. The deadline to […]
The Internal Revenue Service announced the annual inflation adjustments for tax year 2025. Detailed information on adjustments and changes to more than 60 tax provisions that will impact taxpayers when they file their returns in 2026 may be found on the IRS website in Revenue Procedure 2024-40. Changes for tax year 2025 According to the […]
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