Got Any Questions?
What is the Beneficial Ownership Information Report?
Beneficial ownership information refers to identifying information about the individuals who directly or indirectly own or control a company.

[Issued March 24, 2023]

In 2021, Congress passed the Corporate Transparency Act on a bipartisan basis. This law creates a new beneficial ownership information reporting requirement as part of the U.S. government’s efforts to make it harder for bad actors to hide or benefit from their ill-gotten gains through shell companies or other opaque ownership structures.

[Issued September 18, 2023]
When does a company have to report it's Beneficial Ownership Information to FinCEN?
A reporting company created or registered to do business before January 1, 2024, will have until January 1, 2025 to file its initial beneficial ownership information report.

FinCEN: Beneficial Ownership Information Reporting FAQs.
Who needs a 1099?
If you hire contractors, freelancers, or vendors and pay them more than $600 in business-related payments, then you’ll need to prepare and issue a Form 1099.

The form is due to recipients by January 31 and is to be filed with the IRS by February 28.
What is the correct way to prepare Form 1099?
Correct Form W-9s are the key to correct 1099s. To avoid possible matching notices with the IRS, it is important to ensure that the official name on the W-9 that corresponds with the Taxpayer Identification Number (TIN) matches exactly what is on file with the IRS.
What are the tax advantages of a 1031 Exchange?
• Since 1921, IRS allows 100% of realized gains from property sales in a trade or business to be deferred.

• If an investor sells a property and uses the proceeds to buy a similar property, they can defer capital gains and losses indefinitely or until they make a final sale of a property (For more information see blog post: 1031 Exchanges (Like-Kind): Opportunity Zones & Delaware Statutory Trusts (DSTs) to download ppt).