A.C.T. Services, Inc.

Reconciliation isn’t just a box to tick—it’s the foundation of financial accuracy. Matching your bank statements to your books ensures no surprises come tax time.
Outsourced Controllers can help you stay audit-ready year-round.

The staff at A.C.T. Services have participated in a pumpkin painting competition. We ask for you to click the link below and cast your vote for your favorite pumpkin!

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The Internal Revenue Service (IRS) will send a notice or a letter for any number of reasons. It may be about a specific issue on your federal tax return or account, or may tell you about changes to your account, ask you for more information, or request a payment. If you need help understanding we are here to help!

At A.C.T. Services, we specialize in helping small business owners during tax season:

- Ensure compliance with all tax laws and regulations.
- Maximize deductions that you might miss on your own.
- Save time by handling your bookkeeping, tax planning, and filing.
- Provide year-round support for ongoing financial strategy and planning.

Our team is here to guide you through every step of the process, ensuring you’re fully prepared for tax season and beyond. Whether you need help organizing your finances or a complete tax strategy, we’re here to support you.

Are you ready for tax season?

1. Review Last Year’s Return

2. Organize and Categorize Your Expenses

3. Reconcile Your Accounts Regularly

4. Review and Organize Your Tax Documents

5. Set Aside Money for Taxes

Important Update: BOI Reporting Requirements Now Voluntary

As of December 26, 2024, the injunction issued by the district court in Texas Top Cop Shop, Inc. v. Garland is in effect and reporting companies are not currently required to file beneficial ownership information with FinCEN.

As a result of this ruling, the filing of the BOI report is now considered voluntary, temporarily relieving the compliance obligations that were previously mandated by the Financial Crimes Enforcement Network (FinCEN). However, if the reporting requirements are reinstated, there may be an immediate deadline required to do the last-minute filings.

If you have any questions or need assistance regarding the BOI report or its implications for your business, please don’t hesitate to reach out!

We took a few minutes this week to get together in the office and share some holiday spirit. No contest this time, but enjoy our creations.

FP&A services involve budgeting, forecasting, and analyzing a company's financial performance. These services help organizations make informed decisions, aligning financial strategy with business goals.

5 Key Benefits of FP&A Services:

1. Enhanced Decision-Making: FP&A provides timely data and insights, enabling management to make informed strategic decisions.

2. Improved Financial Forecasting: Accurate forecasting helps businesses anticipate future financial conditions, allowing for proactive planning.

3. Resource Allocation: By analyzing costs and revenues, FP&A services optimize resource allocation, ensuring that investments yield the best returns.

4. Risk Management: FP&A services identify financial risks, helping organizations develop strategies to mitigate them.

5. Performance Measurement: Regular analysis of financial performance against benchmarks helps organizations stay on track and adjust strategies as needed.

In today’s dynamic business environment, leveraging FP&A services can significantly enhance your clients’ financial strategies and outcomes. If you'd like to learn more about how FP&A can benefit your business or your clients, I invite you to reach out and schedule a 30-minute call.

Unclaimed funds refer to financial assets that have remained inactive and unclaimed by the owner for a specified period, typically five years.

Reporting Requirement: If no activity occurs within that time frame, businesses must report the unclaimed funds to the Indiana Department of Revenue.

Types of Unclaimed Funds: Common examples include uncashed checks, inactive bank accounts, and unclaimed insurance benefits.

Submission Deadline: The deadline for submitting unclaimed funds is November 1st of each year. Timely reporting is essential to avoid penalties.

Record Keeping: Maintain thorough documentation of all unclaimed funds, including the last known address of the owner and any attempts made to contact them.

This post serves as a heads-up for all businesses to ensure compliance with Indiana’s unclaimed funds regulations. With the rise in audits, it’s crucial to stay ahead of potential issues.

If you have questions or would like to discuss how these rules might impact your business, please don’t hesitate to reach out. We are here to assist you!