The Latest News from Santora CPA Group

11.15.2024 | Issue 175

Santora CPA Group's Weekly Newsletter!

You'll find links to the Alerts and Useful Info we've posted on our website, which includes time-sensitive information and any other issues that might impact you or your business, as well as any news from around our office.

Year-End Tax Planning

Now is the time to start tax planning! Click the link below for our updated Tax Planning Guide.

Tax Planning Guide

Your Weekly Catch-Up

Maximize Your Year-End Giving With Gifts That Offer Tax Benefits

As the end of the year approaches, many people start to think about their finances and tax strategies. One effective way to reduce potential estate taxes and show generosity to loved ones is by giving cash gifts before December 31st. Under tax law, you can gift a certain amount each year without incurring gift taxes or requiring a gift tax return. Taking advantage of this rule can help you reduce the size of your taxable estate while benefiting your family and friends.

Is Your Money-Losing Activity a Hobby or a Business?

Reminder: Prepare NOW for the 1099 Filing Deadline!

Firm News

Important Updates!

Beneficial Ownership Information (BOI) Reporting…Action Required by

January 1, 2025

The BOI reporting rules under the Corporate Transparency Act (CTA) that took effect on January 1, 2024 are here to stay. If your business can be defined as a “reporting company” under the CTA, you may need to comply with the new BOI reporting rules.

Read About the BOI Program Here

There are two very important updates regarding the BOI Reporting that have come up!

Read BOI Updates Here

Delaware's Paid Family and Medical Leave Program

Delaware’s Paid Family and Medical Leave (PFML) program will begin in January 2025. If you have 10 or more employees, it’s important that you register with the State's new online platform, LaborFirst, by December 1, 2024.

Our very own Linda Pappajohn, Director of Human Resources, outlines some simple steps to make sure your company is on track!

Read Linda's Breakdown Here