Entries by Megan McDonald

The Corporate Transparency Act’s Beneficial Ownership Information (BOI) Report

In 2021, the Corporate Transparency Act (CTA) was enacted by Congress to help thwart the illicit activities of shell companies. Effective January 1, 2024, the CTA requires certain companies to report information on their beneficial owners. The Beneficial Ownership Information (BOI) report must be filed through the Financial Crimes Enforcement Network (FinCEN) with the due […]

Bonus Depreciation Phase Out Begins 1/1/2023

The bonus depreciation phase out officially launched in January — what does it mean for your business? Under the Tax Cuts and Jobs Act (TCJA), many businesses have benefited from a 100% bonus depreciation deduction on qualifying property acquired between September 27, 2017, and January 1, 2023. Leveraging 100% bonus depreciation has been a powerful tool […]