Diane Kennedy CPA
@dianekennedycpa.bsky.social
CPA (tax), writer, wife/mom/grandma, beekeeper, gardener, swimmer
BOI filing requirements back on for businesses. The Dept of Treasury is giving a 30 day delay in filing requirements. www.journalofaccountancy.com/news/2025/fe...
BOI injunction lifted; FinCEN promises 30-day filing delay
A court ruling means that millions of small businesses need to be prepared to file beneficial ownership information reports.
www.journalofaccountancy.com
February 19, 2025 at 1:43 AM
BOI filing requirements back on for businesses. The Dept of Treasury is giving a 30 day delay in filing requirements. www.journalofaccountancy.com/news/2025/fe...
If you're a business owner who just got news SCOTUS overturned the stay against BOI reporting, make sure you get the WHOLE story. There were two stays. Only one was overturned. Even FinCen (the govt agency overseeing the BOI reporting) says that it's not required.
January 24, 2025 at 5:27 PM
If you're a business owner who just got news SCOTUS overturned the stay against BOI reporting, make sure you get the WHOLE story. There were two stays. Only one was overturned. Even FinCen (the govt agency overseeing the BOI reporting) says that it's not required.
Special rules for your W-2 if you have an S Corp and want to take the deduction for medical insurance. Don't miss this or you'll give up a deduction!
www.ustaxaid.com/blog/s-corpo...
www.ustaxaid.com/blog/s-corpo...
S Corporation Medical Insurance for 2024 | USTaxAid
Don’t miss this in January. If you have an S Corp, you’re going to need this information before you finalize your W-2s. The IRS has a weird rule regarding S Corporations, its owners and medical insura...
www.ustaxaid.com
January 18, 2025 at 9:52 PM
Special rules for your W-2 if you have an S Corp and want to take the deduction for medical insurance. Don't miss this or you'll give up a deduction!
www.ustaxaid.com/blog/s-corpo...
www.ustaxaid.com/blog/s-corpo...
Here's a unique tax strategy: combining the capital gain exclusion with the like kind exchange roll over.
www.ustaxaid.com/blog/selling...
www.ustaxaid.com/blog/selling...
Selling a Home That Was Both a Primary Residence & Rental | USTaxAid
This is a favorite topic at Get a Tax Answer. When can you use the capital gains exclusion to avoid tax when you sell your primary home? The rules are pretty straightforward but then there are a lot o...
www.ustaxaid.com
January 16, 2025 at 5:41 PM
Here's a unique tax strategy: combining the capital gain exclusion with the like kind exchange roll over.
www.ustaxaid.com/blog/selling...
www.ustaxaid.com/blog/selling...
If you have an S Corporation, don't forget this weird IRS requirement. Miss it and you can lose the deduction.
www.ustaxaid.com/blog/s-corpo...
www.ustaxaid.com/blog/s-corpo...
S Corporation Medical Insurance for 2024 | USTaxAid
Don’t miss this in January. If you have an S Corp, you’re going to need this information before you finalize your W-2s. The IRS has a weird rule regarding S Corporations, its owners and medical insura...
www.ustaxaid.com
January 14, 2025 at 3:07 PM
If you have an S Corporation, don't forget this weird IRS requirement. Miss it and you can lose the deduction.
www.ustaxaid.com/blog/s-corpo...
www.ustaxaid.com/blog/s-corpo...
New Form 1099-K requirements mean a whole lot of people are going to get these for the first time this month.
Form 1040, Schedule 1, has a new line asking for the amount reported to the taxpayer on Form(s) 1099-K that was included in error or for personal items which the taxpayer sold at a loss.
Form 1040, Schedule 1, has a new line asking for the amount reported to the taxpayer on Form(s) 1099-K that was included in error or for personal items which the taxpayer sold at a loss.
January 13, 2025 at 5:32 PM
New Form 1099-K requirements mean a whole lot of people are going to get these for the first time this month.
Form 1040, Schedule 1, has a new line asking for the amount reported to the taxpayer on Form(s) 1099-K that was included in error or for personal items which the taxpayer sold at a loss.
Form 1040, Schedule 1, has a new line asking for the amount reported to the taxpayer on Form(s) 1099-K that was included in error or for personal items which the taxpayer sold at a loss.
I needed a cute picture after all the pictures of SoCal destruction.
January 9, 2025 at 11:01 PM
I needed a cute picture after all the pictures of SoCal destruction.
What a great idea! What New Year traditions do you have?
January 1, 2025 at 1:24 AM
What a great idea! What New Year traditions do you have?
The ongoing Corporate Transparency Act BOI filing:
On December 26, 2024, the 5th Circuit Court of Appeals again issued a nationwide stay against the BOI report.
There was a stay.
Then there wasn't & BOI reports were due 12/31/2024.
Then the BOI reports were due 1/13/2025.
NOW the stay is back.
On December 26, 2024, the 5th Circuit Court of Appeals again issued a nationwide stay against the BOI report.
There was a stay.
Then there wasn't & BOI reports were due 12/31/2024.
Then the BOI reports were due 1/13/2025.
NOW the stay is back.
December 27, 2024 at 9:16 PM
The ongoing Corporate Transparency Act BOI filing:
On December 26, 2024, the 5th Circuit Court of Appeals again issued a nationwide stay against the BOI report.
There was a stay.
Then there wasn't & BOI reports were due 12/31/2024.
Then the BOI reports were due 1/13/2025.
NOW the stay is back.
On December 26, 2024, the 5th Circuit Court of Appeals again issued a nationwide stay against the BOI report.
There was a stay.
Then there wasn't & BOI reports were due 12/31/2024.
Then the BOI reports were due 1/13/2025.
NOW the stay is back.
Tax and accounting clients were surprised by this message today at Bench. Bench was a cheaper accounting software that offered tax services.
As of this date (12/27/2024), you cannot access your data. They state that it will be available on 12/30/2024 until the beginning of March 2025.
As of this date (12/27/2024), you cannot access your data. They state that it will be available on 12/30/2024 until the beginning of March 2025.
December 27, 2024 at 8:54 PM
Tax and accounting clients were surprised by this message today at Bench. Bench was a cheaper accounting software that offered tax services.
As of this date (12/27/2024), you cannot access your data. They state that it will be available on 12/30/2024 until the beginning of March 2025.
As of this date (12/27/2024), you cannot access your data. They state that it will be available on 12/30/2024 until the beginning of March 2025.
IMMEDIATE ACTION NEEDED!
On December 23, 2024, the Fifth Circuit reinstated the CTA (BOI) reporting requirements mandating businesses to disclose beneficial ownership information to FinCEN. All non-exempt entities must comply by January 1, 2025, or face $591/day penalties.
Please repost.
On December 23, 2024, the Fifth Circuit reinstated the CTA (BOI) reporting requirements mandating businesses to disclose beneficial ownership information to FinCEN. All non-exempt entities must comply by January 1, 2025, or face $591/day penalties.
Please repost.
December 23, 2024 at 10:49 PM
IMMEDIATE ACTION NEEDED!
On December 23, 2024, the Fifth Circuit reinstated the CTA (BOI) reporting requirements mandating businesses to disclose beneficial ownership information to FinCEN. All non-exempt entities must comply by January 1, 2025, or face $591/day penalties.
Please repost.
On December 23, 2024, the Fifth Circuit reinstated the CTA (BOI) reporting requirements mandating businesses to disclose beneficial ownership information to FinCEN. All non-exempt entities must comply by January 1, 2025, or face $591/day penalties.
Please repost.
New form required for partners!
Separate Form 7217 required with the partner’s return for each date that the partner received property. If the partner received distributed properties on different days during the tax year, a separate Form 7217 are required.
More tax info at USTaxAid.com
Separate Form 7217 required with the partner’s return for each date that the partner received property. If the partner received distributed properties on different days during the tax year, a separate Form 7217 are required.
More tax info at USTaxAid.com
December 16, 2024 at 4:01 AM
New form required for partners!
Separate Form 7217 required with the partner’s return for each date that the partner received property. If the partner received distributed properties on different days during the tax year, a separate Form 7217 are required.
More tax info at USTaxAid.com
Separate Form 7217 required with the partner’s return for each date that the partner received property. If the partner received distributed properties on different days during the tax year, a separate Form 7217 are required.
More tax info at USTaxAid.com
If you live in the western US, get this app now! You get alerts faster than almost any other service, plus very useful info for evacuations and shelters.
It's free and it works!
It's free and it works!
Do you live in Hawaii or the western US? You've probably had scary run-ins with wildfires. Grab the free Watch Duty app for fire info and alerts. Shameless plug as a volunteer who also runs an indy fire+emergency FB group.
(We're also working on eastward expansion!)
(We're also working on eastward expansion!)
Watch Duty - Wildfire Maps & Alerts
Watch Duty, a 501(c)(3) nonprofit, alerts you of nearby wildfires and firefighting efforts in real-time.
www.watchduty.org
December 16, 2024 at 2:39 AM
If you live in the western US, get this app now! You get alerts faster than almost any other service, plus very useful info for evacuations and shelters.
It's free and it works!
It's free and it works!
If you have a US entity such as an LLC, S Corp, etc, you have to file a BOIR with the Dept of Treasury. You have until 12/31/2024 to file or penalty is up to $591/day. BOIR.org for more info. (If you formed entity in 2024, you have to file within 90 days)
BOIR File Online | Beneficial Ownership Information E-Filing
BOIR filing made simple! Discover everything about BOIR requirements under the Corporate Transparency Act. Ensure your Beneficial Ownership Information Report is compliant with deadlines and avoid pen...
BOIR.org
December 2, 2024 at 7:01 PM
If you have a US entity such as an LLC, S Corp, etc, you have to file a BOIR with the Dept of Treasury. You have until 12/31/2024 to file or penalty is up to $591/day. BOIR.org for more info. (If you formed entity in 2024, you have to file within 90 days)
One of my tax clients got a $0.01 refund from the IRS after they recomputed the 2023 tax return.
The IRS mailed the check.
The IRS mailed the check.
December 2, 2024 at 3:04 PM
One of my tax clients got a $0.01 refund from the IRS after they recomputed the 2023 tax return.
The IRS mailed the check.
The IRS mailed the check.
I remember loading up Lotus 1-2-3 (spreadsheet program) on one floppy disk and having my spreadsheets on another floppy.
I could make a cup of coffee and leisurely walk back to my computer and it still wasn't loaded up yet.
Oh, how things have changed.
I could make a cup of coffee and leisurely walk back to my computer and it still wasn't loaded up yet.
Oh, how things have changed.
How many old floppy disks would you need for Windows 11 today? When Microsoft first launched Windows in November of 1985, it came on 2, 5.25" Floppy Diskettes (Disks). Today, Windows 11 would ship with 3,639 3.5" floppys, if technology hadn't changed #Windows #Microsoft #Windows11 #vfx.
December 2, 2024 at 2:37 AM
I remember loading up Lotus 1-2-3 (spreadsheet program) on one floppy disk and having my spreadsheets on another floppy.
I could make a cup of coffee and leisurely walk back to my computer and it still wasn't loaded up yet.
Oh, how things have changed.
I could make a cup of coffee and leisurely walk back to my computer and it still wasn't loaded up yet.
Oh, how things have changed.
Reposted by Diane Kennedy CPA
Home insurance in areas hit by repetitive disasters is going to be the number one housing affordability issue over the next 4 years. And possibly going into the midterms.
More so than interest rates. Florida in particular is going to have huge problems.
More so than interest rates. Florida in particular is going to have huge problems.
Here in Florida we have a housing crisis of our own - developers are building affordable homes all around, but many are sitting empty because people can't afford the necessary home insurance.
December 1, 2024 at 10:18 PM
Home insurance in areas hit by repetitive disasters is going to be the number one housing affordability issue over the next 4 years. And possibly going into the midterms.
More so than interest rates. Florida in particular is going to have huge problems.
More so than interest rates. Florida in particular is going to have huge problems.
"Honey fraud" is sadly prevalent around the world. As a beekeeper, I'm pretty sure I can spot raw, pure honey. Most of the stuff that is touted as such is not. One sure sign is whether it hardens in a few months.
All raw, pure honey will become solid.
All raw, pure honey will become solid.
Apimondia - the International Federation of Beekeepers’ Associations - said in a statement that the change was "necessitated by the inability to have honey fully tested for adulteration".
www.bbc.co.uk/news/article...
www.bbc.co.uk/news/article...
World Beekeeping Awards axe honey prize due to fraud
A report found that 46% of sampled honey products had likely been bulked out with cheaper sugar syrups.
www.bbc.co.uk
December 1, 2024 at 10:51 AM
"Honey fraud" is sadly prevalent around the world. As a beekeeper, I'm pretty sure I can spot raw, pure honey. Most of the stuff that is touted as such is not. One sure sign is whether it hardens in a few months.
All raw, pure honey will become solid.
All raw, pure honey will become solid.
Reposted by Diane Kennedy CPA
From Charif Shanahan's book, Trace Evidence: bookshop.org/a/862/978195...
#books #poem #poetry #charifshanahan #writers
#books #poem #poetry #charifshanahan #writers
November 30, 2024 at 2:16 PM
From Charif Shanahan's book, Trace Evidence: bookshop.org/a/862/978195...
#books #poem #poetry #charifshanahan #writers
#books #poem #poetry #charifshanahan #writers
Me encantaría encontrar algunos grupos en español en Bluesky, especialmente sobre historia, arqueología o apicultura de Latin America.
I would love to find some Spanish language groups on Bluesky, especially if the focus is on Latin American history, archaeology or beekeeping.
Any suggestions?
I would love to find some Spanish language groups on Bluesky, especially if the focus is on Latin American history, archaeology or beekeeping.
Any suggestions?
November 28, 2024 at 3:49 PM
Me encantaría encontrar algunos grupos en español en Bluesky, especialmente sobre historia, arqueología o apicultura de Latin America.
I would love to find some Spanish language groups on Bluesky, especially if the focus is on Latin American history, archaeology or beekeeping.
Any suggestions?
I would love to find some Spanish language groups on Bluesky, especially if the focus is on Latin American history, archaeology or beekeeping.
Any suggestions?
Reposted by Diane Kennedy CPA
Ray Bradbury's "Fahrenheit 451" is about book burning and censorship, but the topic hasn't saved the novel from its own exposure to controversy and censorship. Several words and phrases (for example, "hell" and "damn") in the book have been deemed inappropriate and/or objectionable.
November 27, 2024 at 9:06 PM
Ray Bradbury's "Fahrenheit 451" is about book burning and censorship, but the topic hasn't saved the novel from its own exposure to controversy and censorship. Several words and phrases (for example, "hell" and "damn") in the book have been deemed inappropriate and/or objectionable.
Reposted by Diane Kennedy CPA
This is maddening if you use MS word to write books. Opt out to stop them using your writing to train A.I. Please share.
How to turn off MS Word scraping your writing to train its AI medium.com/illumination...
MS Word is Using You to Train AI
How to turn off AI-scraping from your Word documents
medium.com
November 21, 2024 at 2:02 PM
This is maddening if you use MS word to write books. Opt out to stop them using your writing to train A.I. Please share.
Reposted by Diane Kennedy CPA
Remember new users are coming on daily, unsure of engagement. The more posts you like and reply to, the strong the platform becomes !
November 26, 2024 at 3:21 PM
Remember new users are coming on daily, unsure of engagement. The more posts you like and reply to, the strong the platform becomes !
Goal is to finish first draft on this book by the end of the month.
November 25, 2024 at 5:29 AM
Goal is to finish first draft on this book by the end of the month.