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Corporate Transparency Act: Answering The Important Questions

In an effort to combat money laundering, terrorism financing, and other illicit activities, Congress passed the Corporate Transparency Act (CTA) in 2021. Beginning in 2024, the CTA requires most small and medium sized entities to electronically file a report disclosing entity structure and ownership information, also known as “Beneficial Ownership Information” (BOI), of the respective entity.
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Why You Need Financial Reports More Than Once Per Year

When faced with the phrase “financial reports,” most business owners think of year-end statements presented to owners and shareholders, summarizing how the business performed over the last year. But a proactive business owner needs to get a pulse on operating results more than once per year, in order to make effective decisions during the year. You need interim financial statements.
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Tax. Wooden colorful alphabet blocks on blue background, flat lay, top view. Alabama Accountability Act

Tax Credit for Businesses Through the Alabama Accountability Act

The Alabama Accountability Act allows Alabama taxpayers and businesses to contribute to Scholarship Granting Organizations to claim a dollar-for-dollar tax credit for 100% of their Alabama tax liability. The limit to the credit for individuals is $100,000. Businesses can also reserve a tax credit for 100% of their total tax liability with no dollar limit.
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