Raisor, Zapp & Woods, PSC

Raisor, Zapp & Woods, PSC Raisor, Zapp & Woods, PSC is a full service certified public accounting firm providing audit, tax, accounting, and consulting services.

Raisor, Zapp & Woods, PSC was formed in 1976 in Carrollton, Kentucky. We are a full service certified public accounting firm providing audit, tax, accounting, and consulting services to a wide range of clients. Our goal is to provide the highest quality personalized service to all clients — large and small — at a reasonable cost. We are locally owned, family friendly, and business sensitive. We kn

ow our clients and we provide top notch service to all clients — large and small. We have over 100 years of combined accounting experience and we work as a team: you don’t receive just one head dedicated to your account, you get the vision of a whole team. We have a diverse range of clients including: Agri-businesses, farms, county and city governments, retail establishments, water and sewer districts, wholesalers, non-profits, Kentucky special districts, insurance companies, school districts, construction companies, service and professional businesses, real estate, and federal agencies and grants.

11/14/2024

BOI REPORTING

New in 2024 is the Beneficial Ownership Information reporting.

The reporting requirements were created as part of expanded anti-money laundering laws. Beginning in 2024, many small businesses are required to report information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN).

Who must file....A company is considered a reporting company if a document was filed with the Secretary of State to create or register the entity. This includes single member LLCs. There are some exceptions, but the exceptions are specific and individuals should be aware that the penalties for not complying are steep!

The good news is that this is a one time filing per entity unless you need to update any of your information. For entities created prior to 2024, the due date for this filing is 12/31/2024. For entities created after 2024, you will have 30 days following the filing of your entity with the secretary of state to comply with the BOI requirements.

Below is a link to the website where you can report the BOI information. FinCEN does not charge for the filing and if you are asked to submit information for payment you are likely on the wrong website!

The Beneficial Ownership Information can be reported for free using the FINCEN Website https://boiefiling.fincen.gov/ and clicking get started under the BOI section.

A quick reference guide to filing can be found herehttps://boiefiling.fincen.gov/resources/BOIR_E-File_Online_Quick_Reference_Guide.pdf

We have previously sent emails to clients regarding this information. If you are a current client of Raisor, Zapp & Woods, PSC and have not received an email regarding the BOI requirements please reach out to our office to make sure we have you on our newsletter email list!

03/14/2024

Public Service Announcement!

If you have a partnership or an S Corporation, the due date for those tax returns is tomorrow. The penalty for not filing an extension for these returns has increased to $220 per month per partner or shareholder. If you formed a new entity and haven’t told your CPA or tax professional….you should do that and have them file an extension for you to prevent penalties.

Also if you formed a new entity in 2024, you should be aware that the due date for filing BOI (Beneficial Ownership Information) is 90 days from the day of creation. The penalty for reporting violations is $591 per day. If your entity was created prior to 1/1/24 you have until 12/31/24. Contact your CPA or tax professional.

11/04/2021

Raisor, Zapp & Woods, PSC has positions available! We are looking for a well qualified administrative assistant and clerical staff. Full and part time positions available! Please reach out to me at [email protected] with your resume if you are interested!

Address

513 Highland Avenue
Carrollton, KY
41008

Opening Hours

Monday 8am - 4:30pm
Tuesday 8am - 4:30pm
Wednesday 8am - 4:30pm
Thursday 8am - 4:30pm
Friday 8am - 4:30pm

Telephone

(502) 732-6655

Website

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