In 2021, Congress enacted the Corporate Transparency Act (CTA). This law requires the reporting of BOI directly to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). The CTA is an effort by Congress to prevent and combat money laundering, terrorist financing, and other illicit activity. It implications are far-reaching and will impact nearly every […]
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Why Should I Outsource My Business Bookkeeping To North Star Tax And Accounting
Fifty percent of all small businesses fail by their 5th year in business. That number is astounding! One of the main reasons small businesses fail is due to improper management, and allocation of resources. If you own a business that specializes in carpet cleaning, you as the owner know the carpet cleaning industry inside and […]