Miah’s Tax Tips

12/30/2024

UPDATE: Welp! The injunction on BOI reporting has been reinstated 🤦🏽‍♀️😂 just a few days after the injunction was lifted.

Basically, as of December 27th, the BOI report is currently NOT mandatory.

CC for the article

12/24/2024

UPDATE: Injunction on the CTA has been lifted. Deadline for LLCs to file the BOI report has been extended to January 13, 2025.

If you still need your BOI report filed, DM me! I can help 🤗

12/20/2024

Remember those posts telling you to dissolve your LLC prior to January 1 if you're not using it or you'd owe $591/day and potentially face jail time? Well, all of that is on hold...for now.

The Corporate Transparency Act (CTA) was created in 2021 in an effort to prevent financial crimes by businesses like money laundering and tax evasion. It requires small businesses in the U.S. to submit a Beneficial Ownership Report (BOIR) providing information about your business and its owners which would then be logged in a federal database.

The problem is, the constitution delegates entity registration to the STATES, not to the Federal government. SO, as the result of one of several companies filing a lawsuit challenging the constitutionality of the CTA, a Texas court granted an order BLOCKING the CTA FOR NOW! This means that FOR NOW, you're not required to file a BOIR while this hold is in place.

Here's a video for more context and the most recent article from the Journal of Accountancy in the comments. Follow my page and stay up to date with the latest changes in this case.

The latest information on BOI Reporting Requirements and what to do now.Apply to become a client: https://mycpacoach.com/contact/ A Federal District Court in...

12/05/2024

Hey y’all 👋🏽. Welcome to my tax page!

I created this page, because I really hate click bait and fear tactics, ESPECIALLY when it comes to topics that can be difficult to understand. Like the one going around right now about dissolving your LLC if you haven’t been using it 🤦🏽‍♀️ with no explanation other than you could be charged $591/day if you don’t file a BOI report. But why? And what’s a BOI report? And what’s the process of doing that?

My goal is to help decode and give context to posts like that and simplify tax laws for individuals and small businesses. I’ll also be offering my services here, because sometimes you just need somebody to do the hard stuff for you.

So join me by liking and sharing this page as I continue this adventure of learning, growing, and mastering my knowledge of our country’s tax laws 😈💰!