Prosperl CPA | Accounting Blog

It’s anyone’s guess as to how political events will unfold this year. One thing is certain, though. The outcome will have long-lasting effects on tax policy and will affect you and your business. Some proposed amendments are currently before the House Ways and Means Committee which, if passed, could affect your bottom line. They include proposals: To amend the Internal Revenue Code of 1986 to repeal the estate and generation-skipping… Read More

[et_pb_section fb_built=”1″ _builder_version=”4.16″ global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on” da_disable_devices=”off|off|off”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.24.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″] It seems business leaders aren’t worried about recession anymore. At least that’s what the annual World Economic Forum decided last week.  Economic experts and business leaders are saying that we’re not likely to see a U.S. recession in 2024. The… Read More

“Save more” is a new year goal a lot of people put on their list, but it’s proven to be a difficult one to reach the last few years. In your Atlanta business, it’s likely some of your employees fall in this category — especially for those in lower income brackets.  Thanks to the Secure Act 2.0, there are ways you can help support your employees in building an emergency… Read More

If Fiscal AND Physical fitness are your resolutions for 2024, think about establishing a business gym for your employees on your business premises, or in a separate building, to create a tax deduction.  Not only can this provide you with a tax deduction, but it also gives tax-free benefits to your employees. If you have no employees, you don’t qualify for the tax-free fringe gym benefit—and no, you cannot deduct… Read More

Dual U.S. Citizenship is ever more common due to our global economy and the lure of attractive investment, acquisition and employment in the United States and elsewhere. This leads to special tax circumstances such as the possibility of double taxation for dual citizens who need to consider how to avoid two governments dipping into your income along with tax residency, foreign account reporting and wealth transfers. If you are a… Read More

If you use an LLC to own a rental property or operate a business, you likely face the new filing requirement by the Department of the Treasury’s financial intelligence unit. Financial Crimes Enforcement Network (FinCEN). Businesses and Rentals existing on January 1, 2024, will trigger the FinCEN filing requirements. The individuals who ultimately own or control the company are known as Beneficial Owners.  A Beneficial Owner is everyone with 25% or… Read More