Tag: #cpa

  PPL CPA will not be responsible for advising you regarding the legal or regulatory aspects of your company’s compliance with the CTA, nor are we responsible for the preparation or submission of beneficial ownership information reports to FinCEN. Like initial BOI reports, updated or corrected BOI reports should be filed electronically through the secureRead more…

Is Your Company Ready? Effective January 1, 2024, many companies in the United States must report information about their beneficial owners—the individuals who ultimately own or control the company—to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.   Who Has To Report? A corporation, a limited liability companyRead more…

Who Should Get One? Small businesses can benefit from a business credit card to pay for products, services and to separate business expenses from personal expenses. Review the benefits below to see how this can have a positive impact on your small business. Business specific rewards and incentives Cash back, points, travel miles, office suppliesRead more…

Tax Credit Schemes To Be Aware Of The current social media buzz on tax credits is for the “Self Employment Tax Credit.”  Not that you or anyone else can actually take advantage of this because…..it does not exist. When researching for this article I did a google search, Self Employment Tax Credit and boy-oh-boy theyRead more…

  Final Rule Issued Effective July 1, 2024 What does this mean? The Fair Labor Standards Act final rule will take effect on July 1, 2024. Revisions include increases to the standard salary level and the highly compensated employee total annual compensation threshold and the timely updating of these earnings.   Salary thresholds will increaseRead more…

The Internal Revenue Service issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:   67 cents perRead more…

Knowing the tax changes that apply for the 2023 tax year will give you a step up in planning and can impact your bottom line. Proper tax planning requires an awareness of what’s new and changed from last year — and there are lots of tax law changes and updates for 2023 that you needRead more…

The IRS says health savings account (HSA) contribution amounts are going way up for 2024. Here’s what you need to know. Health savings accounts (HSAs) offer a tax-advantaged way to save money to pay for certain medical expenses. Your HSA contributions are tax-deductible, so they potentially help reduce your taxable income. But contributions to yourRead more…

Cost-of-living adjustments mean higher IRA and 401(k) contribution limits for 2024. IRA contribution limits for 2024 The contribution limits for a traditional or Roth IRA increased last year for the first time in four years, and the limits are going up again for 2024. You can contribute a maximum of $7,000 (up from $6,500 for 2023). Catch-upRead more…

With the height of hurricane season fast approaching and the ongoing threat of wildfires in many places, it is important that everyone develops an emergency preparedness plan Everyone, from individuals to organizations and businesses, can start now by: Securing and duplicating essential tax and financial documents. Creating lists of property. Knowing where to find informationRead more…