Prosperl CPA | Accounting Blog

Owners of most existing corporations, limited liability companies, limited partnerships, or other business entities are about to encounter the Corporate Transparency Act (CTA). The CTA is scheduled to go into effect for small businesses that exist on January 1, 2024. Reporting for such businesses must be completed before January 1, 2025. Failure to comply with this new filing requirement can result in hefty monetary penalties and up to two years… Read More

The short answer is: Yes. Firstly, he or she is bound by The American Institute of Certified Public Accountants (AICPA) codes of professional conduct. The codes emphasize confidentiality but acknowledge the responsibility to act in the public interest. If you are engaged in fraud or other illegal activities that could harm the integrity of the tax system, there is an ethical duty to disclose this information, particularly if that professional’s… Read More

Now that we’re a week into the new year, all of last year’s broken things in your Atlanta biz have likely smacked you in the face a few times. Sadly, they didn’t magically get fixed while you were cleaning up wrapping paper and sneaking another sugar cookie. But it’s a new year, so why not make plans now to fix a few of those pain points? I’ve seen some pretty… Read More

  Making New Year’s resolutions seems like a waste of time. Sure, we might start with the best of intentions, but by February most of us have quit the gym, returned to normal eating habits, and left books unread on our bedside tables.  But something I do believe in making at the start of the year are goals — both personally and professionally, short- and long-term. I keep in mind… Read More

The delayed, 2026 effective date for changes to Designated Roth Accounts looms large…and not everyone will welcome the rather drastic change. The delayed effective date is good news and gives planners some time to figure out how to make it work. While the option is probably a good one for higher-income employees, it does not mitigate the administrative hassles. Nonetheless, if you operate a 401(k) plan for employees, you are… Read More

By the time you actually get to reading this, there is a very good chance that you’re reading a voice from the past. I make it a practice to prepare my Atlanta clients and friends a few days in advance, and RIGHT NOW, it is still 2023. But 2024 is beckoning and is probably already here for YOU. The thing to celebrate is that your Fulton County business made it… Read More