R. Candace Poling, CPA

12/24/2024

To BOI or not BOI? That is the question!🤦‍♀️
Right now, this is the answer. Could it change? Definitely.

12/05/2024

After all the hoopla this has caused, now we may not be required to file? Stay tuned!

Finding the Corporate Transparency Act “likely unconstitutional,” a federal district court prohibited its enforcement and the enforcement of its accompanying regulations.

10/03/2024

We lucked out in Botetourt/Roanoke so we don't get to delay our filing. Kinda glad although the couple of weeks are going to be INSANE!

VA-2024-01, Oct. 1, 2024 — The Internal Revenue Service announced today tax relief for individuals and businesses in parts of Virginia that were affected by Post-tropical Cyclone Helene that began on Sept. 25, 2024. These taxpayers now have until May 1, 2025, to file various federal individual and...

07/26/2024

This is highly disturbing and most Americans have absolutely NO CLUE!

76% of all personal income tax last month went to servicing the $34 trillion national debt.

How did we get here?

Two men: FDR and Richard Nixon.

Together, they broke the dollar. And put the American people into debt slavery.

01/03/2024

‼️URGENT INFORMATION FOR SMALL BUSINESS OWNERS‼️

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a new requirement beginning January 1, 2024 that will affect MOST small businesses. This registration is for all new required businesses (reporting companies) created on 1/1/24 or after to register on the FINCEN website within 90 days of organization, and for required businesses created before 1/1/2024 to register before 1/1/2025. Unfortunately, most CPA liability insurers are refusing to cover the preparation of this online form under our policies so we are limited in our ability to assist you, but most who have processed these report them to be fairly simple so it should be an easy DIY process.

For more information, go to

12/06/2023

If you're going to set up a new business, you might want to do it before December 31st. This sounds like a hacker's dream!

Starting January 1, 2024, many companies will be required to report information to the U.S. government about who ultimately owns and controls them.

02/08/2023

Charities are hurting. This is not good for America.

The IRS $300 above-the-line universal donation tax deduction expired, & is not active for 2022 or 2023. Here's all the details.

12/23/2022

Thank goodness!

IR-2022-226, December 23, 2022 — The Internal Revenue Service today announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season.

06/24/2022

FYI - and make sure to track your mileage separately from January-June and July-December so it can be calculated properly on your tax return.

IR-2022-124, June 9, 2022 — The Internal Revenue Service today announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain oth...