by KWC CPAs | Feb 20, 2025 | Accounting
Current deadline to file BOI report: Businesses formed prior to 1/1/2024: 3/21/2025 Businesses formed after 1/1/2024: 30 days after formation The beneficial ownership information (BOI) filing was mandated by the Corporate Transparency Act (CTA) and impacts millions...
by KWC CPAs | Feb 13, 2025 | Accounting
Internal Revenue Code Section 179 potentially allows significant first-year depreciation deductions when your business places qualifying assets into service. You generally want to maximize current year depreciation write-offs for newly acquired business assets....
by KWC CPAs | Jan 17, 2025 | Accounting
KWC is proud to announce that the firm was named as one of the 2025 Best Places to Work in Virginia. The firm is a repeat winner of the award, based on satisfaction surveys completed by our employees. The annual list of the Best Places to Work in Virginia was created...
by KWC CPAs | Dec 6, 2024 | Accounting
The “kiddie tax” prevents parents from shifting income-producing assets to children to take advantage of their lower tax rate. It was introduced as part of the Tax Reform Act of 1986. Before this law, high-income parents and other family members could...
by KWC CPAs | Nov 1, 2024 | Accounting
KWC Certified Public Accountants (KWC) announced Millikan CPAs will be joining the firm’s Richmond, Virginia office. “We are excited to welcome Marian Millikan and her staff to our Richmond office,” said Connie Hammell, Managing Principal at KWC. “Their combined...
by KWC CPAs | Sep 23, 2024 | Accounting
Starting in 2024, U.S. and foreign entities doing business in the U.S. may be required to disclose information regarding their beneficial owners to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). This requirement is being implemented...
