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Navigating the Corporate Transparency Act
Manage episode 400975706 series 3529284
Innehåll tillhandahållet av Kelly Rohrs and Bilal Mehanna, Kelly Rohrs, and Bilal Mehanna. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av Kelly Rohrs and Bilal Mehanna, Kelly Rohrs, and Bilal Mehanna eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.
In this episode, we explore the latest compliance requirements for businesses under the Corporate Transparency Act and dissect the new FinCEN Form 114, delving into filing requirements, exemption thresholds, and deadlines. We also dive into the value of compliance to avoid hefty penalties.
We know the challenges of talent retention in the accounting industry. The key for us has been using premium fees to thrive. Whether it's outsourcing legal work to larger firms or weighing the pros and cons of offering premium services, we've got your back! We present our differing approaches to charging premiums for tax preparation services, sharing insights on education and disclaimers in engagement letters.
It's truly significant to offer premium, white-glove services to clients while navigating the filing fees for LLCs, tune in to learn how we've done just that!
What you'll hear in this episode:
[0:00] New corporate transparency act requirements.
[5:00] Filing fees for LLCs and the value of white glove service.
[9:55] Outsourcing legal work to firms.
[13:35] Filing FinCEN Form 114 for businesses.
[18:25] 1099 filing penalties and compliance.
Connect with Kelly https://www.linkedin.com/in/kellyrohrs/
Connect with Bilal https://www.linkedin.com/in/bmehanna/
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