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Inside the Loophole – February Important Tax Updates, Business Advisory Insights, and Key Deadlines for 2025

Corporate Transparency Act & BOI Reporting Update The Corporate Transparency Act (CTA) and Beneficial Ownership Information (BOI) Reporting requirements are back on after a temporary halt. However, the reporting is currently voluntary as the 5th Circuit Court considers its constitutionality. Businesses should prepare to comply with BOI reporting in case the ruling upholds the

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Inside the Loophole – CTA Injunction

The Corporate Transparency Act Has Been Halted: Decision Time is Now for BOIR Filing Just weeks before the Corporate Transparency Act (CTA) and its associated reporting requirements were set to be due at year end, a US District Court in Texas has issued an injunction against the CTA. The immediate effect is to invalidate

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Inside the Loophole – Thanksgiving 2024

Thank You for Your Business and Your Trust! During this time of the year, we tend to focus on what we are thankful for, and the Evident Pros team would like to extend a thank you to all of our clients. Your trust and support make our operations possible, and we’re looking forward to

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Inside the Loophole – November 2024 – Have You Filed Your BOI?

Have you Filed your BOI? The Deadline is Quickly Approaching! Contact us TODAY if you Need us to Help. (713) 878-4357 In accordance with the Corporate Transparency Act – which went into effect on January 1, 2024 – many business entities are required to file a Beneficial Owner Information (BOI) report with the Financial

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Inside the Loophole – September 2024 – Leadership and Company Culture

Building a Strong Culture A strong company culture will improve a company’s business reputation among customers and stakeholders, including employees. Though difficult to quantify and predict, a strong company culture can lead to better employee retention and productivity. There is an established formula to improving a company’s culture that is simple enough for any

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Inside the Loophole – Education Savings and Planning – August 2024

Education Savings Plan Planning and saving for higher education can be daunting for many families given the rising cost of college. According to The College Board, the average per year cost of an in-state public university is $28,840. That’s more than $100,000 for a typical four-year education. However, there are tools available to families

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Inside the Loophole – Starting a Business – June 2024

How to Start a Business No two businesses follow the exact same path from start to launch. However, the following steps are important considerations when determining how to start a business: Developing a business concept Performing market and competitor analysis Securing funding for the business Choosing an entity structure Establishing bank accounts for the

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Employee or Independent Contractor: Determining Worker Status and Taxation Rules
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Employee or Independent Contractor: Determining Worker Status and Taxation Rules

As businesses expand their operations and workforce, they may rely on a combination of employees and independent contractors to carry out day-to-day tasks. And depending on how workers are classified, their relationship to the business is treated differently. Taxation is also handled differently, so it’s important for companies to classify their workers appropriately. Unsure

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Divorce and Taxes: Tax and Alimony Considerations
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Divorce and Taxes: Tax and Alimony Considerations

Divorce and Taxes: Alimony and Tax Implications Divorce is a challenge for the vast majority of couples, and it’s made more complex by financial entanglement and the presence of dependents. When a marriage is dissolved, assets must be allocated, finances must be separated, and support payments – either alimony, child support or both –

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