The Corporate Transparency Act (CTA), passed in 2021 and which became effective on January 1, 2024, establishes a new reporting requirement for many US domestic companies as well as foreign companies registered to do business in the US.

A limited liability company (LLC) with two or more members is defaultly treated as a Partnership for tax purposes.

When you form a new business, you will amass a collection of different business formation documents. Be sure to store the original documents in a safe place and keep copies so you have the documents readily available.

Tax season for the 2021 tax year is right around the corner!

When starting a new business, small business owners need to consider the type of business entity to form.