Misinformation, misinterpretations, and catastrophizing – much has been written these past few months about BOI (Beneficial Ownership Information), all coming from a range of voices, from tax professionals to politicians. There have been dire predictions of small business owners being ushered to jail for failing to file and fears of tax professionals rounded up for the unauthorized practice of law (UPL). Then there are those who mistakenly say BOI has been ruled unconstitutional and who reject any need to worry about it. That is profoundly wrong. Let’s look at the facts and put an end to all of this fearmongering.
This Is The Only Other Year-End Tax Tip Guide You Need
Peter J Reilly CPA
So as I did last year, I have reviewed a multitude of year-end tax tips articles. One of them is a real standout that you should be sure to check out. If you missed it, you should definitely roll back to the November 15 edition and go over Dominique Molina’s piece, which focuses on what you need to do sooner rather than later in response to OBBBA. It provides more detailed, relevant, actionable advice that you won’t see anywhere else than any of the multitude of pieces I have reviewed. As for the rest, I will give you a basic rundown of what I call the SOSO (same old, same old) and a few suggestions that stand out as different that I will get into a little more along with some thoughts of my own.
