Beneficial Ownership Information Reporting Requirements? February 2025 UPDATE

As we prepare for 2027, now is the ideal time to take a fresh look at your tax situation and begin planning for the opportunities and challenges that may lie ahead. While every taxpayer’s circumstances are unique, a proactive approach can help identify potential tax liabilities, reduce surprises, and position you to make informed financial decisions throughout the year.

September is a good time for a fresh start.
Summer is winding down, routines are getting back to normal, and businesses are settling into the final stretch of the year.
It is also a good time to remind yourself and your employees to be careful with financial information.

Falling behind on your taxes can feel overwhelming, but addressing the issue promptly is the best way to minimize additional penalties and interest. Ignoring unpaid taxes rarely makes the problem go away, and the IRS offers several options to help taxpayers resolve their balances. At Senter CPA, we work with individuals and business owners to develop practical solutions and navigate the IRS resolution process with confidence.

If you’ve ever spent hours researching your fantasy football draft only to watch your first-round pick get injured, you’ve experienced something every business owner understands: Even the best plans sometimes get sacked.

Taxpayers have the right to request tax transcripts from the IRS. These may be needed if you do not have a copy of your tax return.

I can think of worse ways to help local kids than spending a Thursday night eating, drinking, bidding on stuff you probably do not need, and hanging out with 350 to 450 of your favorite Clarkston friends.

Even in the middle of tax season, it’s not too late to make moves that can save your business money and headaches down the line. Many business owners get caught up in the day-to-day and wait until the very end to think about taxes. The truth is, a few small steps now can make a big difference later.

Business owners understand that receipts are everywhere and also can seemingly end up nowhere to be found.

As household expenses continue to rise, identifying unnecessary recurring charges is a practical way to improve cash flow without making significant lifestyle changes. Many consumers unknowingly pay for subscriptions they no longer use, forgot to cancel after a free trial, or no longer find valuable. While individual charges may seem insignificant, the combined annual cost can amount to hundreds of dollars.

December has a way of making tax planning feel urgent—but by December, you’re already behind the strategy and some of the best planning opportunities could have already passed you.