Ten40 Solutions

03/04/2025

Meet Mrs. Turner. She treats all of our clients like family. Her passion for people has helped us sustain for 20 years. Book with Mrs. Turner to get the experience and the wisdom. Link in Bio!

03/04/2025

Schedule Your Tax Consult with Ashley! Link in Bio!

12/04/2024

On Dec. 3, a federal court in Texas ruled to halt the implementation of the beneficial ownership information (BOI) filing requirement that was part of the Corporate Transparency Act (CTA).

The court said that the CTA is likely unconstitutional and issued a preliminary injunction barring enforcement of the CTA and its reporting requirements.

The ruling states that "reporting companies need not comply with the CTA's January 1, 2025, BOI reporting deadline pending further order of the Court."

https://natlawreview.com/article/texas-federal-court-blocks-corporate-transparency-act-halts-nationwide-enforcement?amp

11/06/2024

Many business owners are questioning if BOI reporting is mandatory and the answer is YES!

We have a listed the details below:

✅ What it is BOI? BOI is information about the people who directly or indirectly own or control a business. This includes their names, addresses, dates of birth, and a unique identifier from an acceptable ID document.

✅ Who must report? Businesses formed on or after January 1, 2024 must report BOI.

✅Are there penalties if the BOI report isn’t filed by January 1, 2025? Yes, failure to file can result in penalties of up to $500 per day.

A person who willfully violates the BOI reporting requirements may also be subject to criminal penalties of up to two years imprisonment and a fine of up to $10,000.

✅ Where to report? BOI reports are filed online.

Click here to file before January 1, 2025: https://secure.boi-efile.com/form/ten40solutions

✅ How it's used? BOI is stored in a secure database and can be used by law enforcement, government agencies, and financial institutions. It's not available to the public.

✅ Why it's important? BOI helps to establish trust with businesses, understand risk exposure, and identify when a relationship should be ended.

06/23/2023

A million taxpayers are donating their refunds to the federal government in July. The total donation could exceed $1 BILLION. Don't let it be your money.

The IRS disclosed there will be more than $1.4 billion in federal tax refunds forfeited this year if taxpayers don't claim them by July 17.

06/21/2023

Now is the time to reduce your business tax obligations. Here are some ideas. Plus the pros and cons of loyalty programs.

Now is the time to reduce your business tax obligation. There are many new laws and great ideas outlined in this month's letter. Many businesses offer loyalty programs to retain existing customers and attract new ones. In this month’s newsletter, explore the rewards as well as challenges of pr...

06/16/2023

Increasing interest rates bring tax savings back into focus. Here's how.

With rising interest rates, there are tax advantaged and tax free alternatives. Here is what you should know.

06/09/2023

Reminder: Second quarter estimated taxes are due Thursday, June 15th.

If you have not already done so, please plan to make your second quarter estimated tax payment. The due date is Thursday, June 15th.

06/07/2023

You should never face an IRS audit alone. Here's why. Plus great ideas for summer tax breaks.

Summertime offers unique tax and money saving opportunities for the whole family. In this month’s newsletter, find out how day camps for your kids may be tax deductible, if you know the rules! And summer is a time when household expenses creep up, so there is an article identifying common caus...

06/02/2023

Here are five things to do, if the newly staffed IRS audits you.

Getting audited is no one's idea of a good time, yet you can get through it if you take the right approach.