Secretarily Yours

01/16/2025

08/23/2024

05/03/2024

BOI_Icon-3 image
Warning: Be on the lookout for service providers that will register your Beneficial Ownership Information (BOI) for a fee.

Self-registration through FinCen.gov is no cost. It is one-time enrollment until there are owner/corporate officer changes. Be clear on why you would:

Pay someone to perform this for your organization and
Be assured that privacy of the data is maintained.
It is a conscious choice to use a pay-for vendor that charges a significant fee. Using a vendor is not a mandatory requirement.

The Financial Crimes Enforcement Network (FinCEN) updated the FAQs on the Beneficial Ownership Information. To find out more about the reporting process, visit https://www.fincen.gov/boi

And we invite you to attend our free webinar on April 25, 2024, 1:00 PM. Advanced registration is required to receive the Zoom link.

Beneficial Ownership Information (BOI)

Free HISBDC webinar on April 25, 2024 with updated information by Ryan K. Hew

REGISTER CTA-BOI Webinar
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04/29/2024

Know Your 2024 Tax Deadlines with This Useful PDF Tax Calendar

04/28/2024

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Important Update: Navigating the New BOI Reporting Requirements

In light of recent legislative changes, you should stay informed about the Corporate Transparency Act (CTA) and how it impacts your business.

Effective January 1, 2024, the CTA mandates that most small and medium-sized businesses submit a Beneficial Ownership Information (BOI) report to FinCEN. Your business must likely comply despite a federal court ruling challenging its constitutionality for a specific group.

Why Should You Pay Attention?
The court ruling. A court found the CTA unconstitutional for two plaintiffs, but this doesn't exempt you unless you're directly involved. Compliance is expected for all others, with potential legal shifts ahead as the case proceeds through the courts.
Time-Sensitive Compliance. Existing businesses have until January 1, 2025, to file. Newly formed businesses in 2024 have a 90-day window post-formation. The landscape could change, but it's wise to prepare now.
New York's mandate. Regardless of federal rules, New York LLCs face state-specific BOI reporting laws. This dual layer of compliance underscores the complexity and importance of staying ahead.
For a deeper dive into these developments and their implications for businesses like yours, I highly recommend reading our latest article: BOI Reporting Unconstitutional for 65,000, but Likely Not You.


It's free. No obligation.

If you are not yet a subscriber, CLICK HERE. (https://email.bradfordtaxinstitute.com/t?r=6206&c=6555&l=11&ctl=CDD3:5D839DA562C414BA9373D0FF21D9AD5C9B3ECD4CF7DCB622&) You’ll get a no-obligation 7-day FREE trial during which you can read, not only the article I mentioned above, but all of our helpful tax-saving tips. This trial is absolutely free and there are no strings attached. That’s a personal promise.

If you're already a subscriber to the Tax Reduction Letter you’ll be prompted to log in when you CLICK HERE. https://email.bradfordtaxinstitute.com/t?r=6206&c=6555&l=11&ctl=CDD2:5D839DA562C414BA9373D0FF21D9AD5C9B3ECD4CF7DCB622&

Sincerely,

W. Murray Bradford, CPA
Publisher
Tax Reduction Letter

04/07/2024

The IRS Dirty Dozen List: More Than Just a Gimmick

03/29/2024

Stay safe from the latest scam tactics




5 tips to protect yourself:

Capital One, or any other financial institution, will never ask you to make payments for correcting fraud activity.
Never send money to anyone who claims your account is compromised or who threatens to cut off your services. Instead, call the company directly to discuss payment methods. A utility company will never request payments via Zelle®.
Be suspicious of people you don’t know contacting you via phone or text asking for payment. These scams aim to create a false sense of urgency in hopes you’ll send funds before verifying who you’re talking to. Make sure you’re sending payments to reputable companies and contacts you’ve validated from a trusted source.
Report any suspicious activity immediately by calling the phone number on the back of your Capital One debit or credit cards or by visiting our Report Fraud page. https://click-notification.capitalone.com/f/a/TKAijwzdZtfru3i7PxosXQ~~/AAAAAQA~/RgRn6Y4OP0RDaHR0cHM6Ly93d3cuY2FwaXRhbG9uZS5jb20vaGVscC1jZW50ZXIvZnJhdWQtZGlzcHV0ZXMvcmVwb3J0LWZyYXVkL1cGY2Fwb25lQgpmBg4JB2YB5wN2UhtzZWNyZXRhcmlseS55b3Vyc0BnbWFpbC5jb21YBAAAAAA~
Check out Capital One and Khan Academy’s free financial literacy course to learn about red flags to watch out for and more ways to protect yourself from new scams. https://click-notification.capitalone.com/f/a/zxmFQebAlo9OqAPrQ33P7A~~/AAAAAQA~/RgRn6Y4OP0ReaHR0cHM6Ly93d3cuY2FwaXRhbG9uZS5jb20vbGVhcm4tZ3Jvdy9tb25leS1tYW5hZ2VtZW50L2toYW4tYWNhZGVteS1maW5hbmNpYWwtbGl0ZXJhY3ktY291cnNlL1cGY2Fwb25lQgpmBg4JB2YB5wN2UhtzZWNyZXRhcmlseS55b3Vyc0BnbWFpbC5jb21YBAAAAAA~

03/25/2024

Small Businesses Invited to Mayor’s Town Halls

Mayor Rick Blangiardi is resuming his town hall meetings across Oʻahu to gain insight into the needs and aspirations of our communities.

Small businesses are welcome to attend to share their thoughts and questions with the Mayor and his leadership team.

The next two town halls will be:

Thursday, March 28, at 6:30 p.m. at Kailua Intermediate School.

Thursday, April 4, at Salt Lake District Park.

Download the Full Town Hall Schedule

03/22/2024

OAHU BUSINESS CONNECTOR

Funding for Small Businesses: Part 1

Our new YouTube series dives into all aspects of funding for local companies.

In part 1, Reid Chung, a vice president at HawaiiUSA FCU, shares his insights into capital from the lender’s perspective and how small businesses can overcome barriers to getting a bank or credit union loan.

These timecodes will help each small business find information that’s most important to them:

1:20 – Understanding capital for small businesses

1:39 – Capital for the business owner

1:51 – Capital from the lender’s viewpoint

2:10 – Barriers to securing capital

4:54 – Small business loans from the lender/bank viewpoint

5:48 – Overcoming barriers to get aimage.png

9:34 – Role of a lender/banker

This video series is part of the Cityʻs Oʻahu Business Connector program.

Watch the Video
https://revitalizeoahu.us2.list-manage.com/track/click?u=bdf6a62037d0289b5d30e0798&id=1c7cdcd9ca&e=2ba34bd684

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03/20/2024

Please read and take advantage!

Young Adults Should Take Advantage of IRAs

03/20/2024

We always love client input. Especially like this one from "Jazz"

"My only regret when it comes to this tax service business is that I wish I knew about them sooner. Very experienced and knowledgeable staff from the secretary to accounting to Bernice the consultant. Very friendly and they know a lot about how to file for and help you with your business taxes and personal taxes. With exceptional service, I highly recommend them to anyone who is just starting a business or just to see your return for the next year. Please feel free to say I referred you so I can get some referral discounts…."

Thank You, Jazz!!!

05/17/2023

One Ugly Rule for Owners of S Corporations Deducting Health Insurance