Beneficial Ownership Information Requirement Update
What is BOI? Starting January 1, 2024, the Corporate Transparency Act (CTA) went into effect. The CTA requires the disclosure of the Beneficial Ownership Information (BOI) of certain entities from people who own or control a company. The CTA is not a part of the tax code, as the new BOI report is filed with the…
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MKA Announces Strategic Partner
To our valued clients, Moss Krusick & Associates, LLC (“MKA”) has a long history of adding resources and expertise to better serve our clients, employees and community. We are pleased and excited to announce the next step in our journey to accelerate our growth. MKA has a new capital partner to help fund investments in our people,…
The IRS Is Tackling Tax Evasion With AI
As the current tax season continues, the Internal Revenue Service (IRS) has ushered in a new era of tax enforcement thanks to the power of artificial intelligence (AI). AI tools have taken nearly every industry by storm recently, and even federal tax authorities have realized that these resources can be invaluable in catching tax evaders.…
New Employee vs Independent Contractor Rule Effective March 11
The U.S. Department of Labor (DOL) announced on Jan. 9, 2024, the issuance of its final rule regarding whether a worker is an employee or an independent contractor under the federal Fair Labor Standards Act (FLSA). The new rule, which becomes effective March 11, 2024, rescinds the 2021 independent contractor rule issued under former President Donald Trump…
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Rachel Brouwer, Mercedes Latulippe, & Angela Harr Promoted to Partners
We’re excited to announce a significant milestone here at Moss Krusick – the promotion of three outstanding individuals to Partners within our firm. Please join us in extending a warm congratulations to Mercedes Latulippe, Rachel Brouwer, and Angela Harr, who bring a wealth of talent, experience, and dedication to their new roles. Let’s take a…
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Common IRS Audit Triggers for Small Businesses: How to Avoid Them
As a small business owner, the word ‘audit’ can be a source of anxiety. However, understanding the common triggers for an IRS audit and taking proactive steps can significantly reduce the likelihood of facing one. This article explores the factors that could lead to an IRS audit for small and medium-sized businesses (SMBs) and provides…
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