Frequently Asked Questions

The IRS changes thresholds yearly and it is difficult to keep up with. Please click below to see the 2023 cheat sheet!

Each year, the retirement and other benefit plan limits get adjusted by the IRS and Social Security Administration. Please click below to view the 2023 limitations.

Starting January 1, 2024, a significant number of businesses will be required to comply with the Corporate Transparency Act (“CTA). The CTA was enacted into law as part of the National Defense Act for Fiscal Year 2021. The CTA requires the disclosure of the beneficial ownership information (otherwise known as “BOI”) of certain entities from people who own or control a company. 

The intent of the BOI reporting requirement is to help US law enforcement combat money laundering, the financing of terrorism and other illicit activity.