The Fifth Circuit Court of Appeals reinstated the CTA injunction on December 26th. This follows a reinstatement of the CTA filing deadline on December 23rd. So, as of December 26th, the filing requirement is on hold. The following alert was issued by FinCEN via their website: In light of a recent federal court order, reporting companies…
Read More

As retirement approaches, maximizing your savings becomes crucial. For individuals aged 50 or older, catch-up contributions to 401(k) and IRA accounts offer a valuable opportunity to boost retirement funds and reduce current tax liability. Understanding Catch-Up Contributions Catch-up contributions are additional amounts you can contribute to your retirement accounts beyond the standard annual limits. For…
Read More

A number of federal tax provisions included in the 2017 Tax Cuts and Jobs Act (TCJA) are set to expire after December 31, 2025.  Many of these provisions were designed to reduce taxes in order to stimulate economic growth but included sunset clauses that will automatically revert back to the pre-TCJA rules unless Congress takes…
Read More

Dent Moses is committed to keeping you informed of the latest tax-saving strategies. We are sharing our AG-YE_YR Tax Planning Guide-2024_DM. The guide highlights some key considerations, but keep in mind that this resource is intended to provide broad suggestions only. There is no substitute for the guidance of an advisor who understands your specific…
Read More

When selling capital assets like stocks, real estate, or mutual funds, understanding how capital gains taxes are applied can help maximize your returns. Understanding the distinctions between short- and long-term capital gains, federal and state tax rates can help you manage your tax liability effectively and optimize your financial outcomes. Capital gains tax is imposed…
Read More

Earlier this year, we wrote about beneficial ownership information (“BOI”) reporting requirements of the Corporate Transparency Act (“CTA”) signed in to law in January 2021.  Click this link to see the original post. In Q4 of 2023 and Q1 of 2024, congressional leaders and professional associations made efforts to extend the deadline to make the…
Read More

On July 19, 2024, the IRS issued new regulations clarifying the rules surrounding inherited IRAs, providing essential guidance for beneficiaries and financial planners. These updates primarily focus on implementing the SECURE Act’s provisions and the adjustments beneficiaries must make to comply with the new requirements. Key Clarifications on the 10-Year Rule The SECURE Act’s 10-year…
Read More