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Monthly Archives: November 2024

Florida Changes Rules for Equitable Distribution of Closely Held Business Interests in Divorces by Sandra Perez, CPA/ABV/CFF, CFE, and Dylan Stone, CPA, CVA


Posted on November 26, 2024 by Sandi Perez

On July 1, 2024, the State of Florida added Fla. Sta. §61.075(6)(a)1.f, which specifies how trial courts value a marital interest in closely held businesses for the purposes of equitable distribution in divorce proceedings. Significantly, the new law, also referred to as House Bill 521 (HB521), addresses the valuation of marital interests in closely held […]

UPDATED – Corporate Transparency Act Reporting Deadline Looms for Law Firms and Their Corporate Clients by Dan Hughes, CPA/CFF, CGMA, CVA


Posted on November 05, 2024 by Daniel Hughes

UPDATE – On December 3, 2024, a federal court in Texas ruled that the CTA is likely unconstitutional and prohibited its enforcement. As of this ruling, companies are no longer required to report by the end of the year.    This may change based on the government’s next steps. We will keep you apprised.    […]

IRS Compliance Efforts Target Pass-Through Entities, Expand Use of AI in Tax Audits by Joseph Leocata, JD, CPA, MBA


Posted on November 01, 2024 by Joseph Leocata

The IRS recently launched a new unit committed to enforcing U.S. tax laws among pass-through entities, such as S corporations, partnerships and trusts, whose income passes from the business to its owner’s individual tax returns where taxes are due at the owners’ marginal income tax rates. The move is part of the agency’s broader focus […]