BOI Reporting 2024

BOI Reporting In 2021 Congress enacted the Corporate Transparency Act, creating the Beneficial Ownership Information (BOI) reporting system. The reason behind this new reporting system is to prevent citizens from hiding and laundering illegal funds using shell companies hiding their identity.  Who will this new reporting requirement effect? When are you required to file? The failure to file on time, …

Thanksgiving Insights & Charitable Contributions Update

The Team at Wisdom CPA would like to wish our clients, community, friends & family a happy Thanksgiving and safe travels over the holiday. As we approach the Thanksgiving & Christmas seasons (in the strangest year on record), we recognize many of you make monetary & food donation contributions to various organizations. In order for charitable contributions to be deductible, …