Jana Walker, CPA

12/09/2024

BOI Update from a reliable source!

12/09/2024

‼️BOI Reporting Update‼️They are still fighting it out in court, I always say better to be safe than sorry!

From the AICPA:

"The AICPA understands the confusion and anxiety that business owners have struggled with regarding the BOI reporting requirement. We believe that the injunction … is applicable nationwide to all small businesses. While we are still awaiting formal guidance from FinCEN, if this injunction is applicable as we believe, many small businesses would receive the much-needed BOI reporting relief. The AICPA will continue an open dialogue with FinCEN in the hopes that our questions and concerns will be addressed, and we will continue to advocate on behalf of small businesses for clarity and relief."

Finding the Corporate Transparency Act “likely unconstitutional,” a federal district court prohibited its enforcement and the enforcement of its accompanying regulations.

11/19/2024

Tune in!🤩

🚨Today at NOON🎙️

Lunch Break Podcast Ep. 001 with Jana Walker on Facebook Live. Tell your buddies!

Jana Walker, CPA
Walker Mercantile Company
Walker's Western Store

10/17/2024

‼️I feel the need to put out a PSA based on recent facebook post regarding the BOI reporting. Yes!! there are some stiff penalties for not filing. NO please to be scared, it's super easy, ask basic information (name, address, ID) and you can do it online. See the link below, it takes about 10 minutes to complete.

✅Required by the Financial Crimes Enforcement Network (Not the IRS)

✅ Applied to most U.S. Businesses (If you don't have a business, don't worry about it! This is just for entities that have been registered with the Secretary of State)

✅Deadline for filing is January 1st, 2025

✅ Failure to file can result in penalties of up to $500 per day

There is no cost to file with this, if you do it directly online yourself.

Here is the link to complete your filing:

08/04/2023

🥳It's tax free weekend in Oklahoma! *Reminder Small Business Owners- Restrictions do apply, all items are NOT eligible for exemption.

‼️ Must be sales clothing or footwear that has a sales price under $100. Specialty items DO NOT qualify. ‼️

Here's a link to more information:

https://oklahoma.gov/content/dam/ok/en/tax/documents/resources/publications/infographics/SalesTaxHoliday.pdf

Be sure to apply the rules properly to stay in compliance this month!

07/16/2023

‼️ Position available in Enid and Woodward location ‼️ Looking to add a qualified staff member with accounting experience to my team!

Full-time or part-time position

Pay depends on experience

Email resume: [email protected]

03/22/2023

‼️ Business Owners ‼️ I have received a TON of questions about credits this season, especially with a lot of scam artists pushing these credits to make a quick buck! Reminder, some truly do qualify for the credit, but there is also a significant amount of abuse occurring. The IRS continues to issue warnings about improperly claiming these credits. I would imagine many audits of these credits will occur in the coming months and years as they catch up....and if you read the language that many of these "pop up" companies are putting in their disclaimers. They will NOT be helping you during that time, they have already collected their fee.

IR-2023-40, March 7, 2023 — The Internal Revenue Service today issued a renewed warning urging people to carefully review the Employee Retention Credit (ERC) guidelines before trying to claim the credit as promoters continue pushing ineligible people to file.

01/24/2023

‼️ Filing Season is now OPEN. However, businesses still have until January 31st to postmark their 1099s and W-2s for delivery. To avoid delays make sure you have received ALL of your documents before filing. Even with an increase in staff, I don't think we are still caught up before Pre-COVID days and you could experience delays. Here are a few tips for a smooth filing season:

IR-2023-11, January 23, 2023 — The Internal Revenue Service kicked off the 2023 tax filing season with a focus on improving service and a reminder to taxpayers to file electronically with direct deposit to speed refunds and avoid delays.