The path can get foggy sometimes…
a guide can help.
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Tax Implications of Shutting Down Sole Proprietorship or Single-member LLC
As you consider shutting down your sole proprietorship or your single-member LLC treated as a sole proprietorship for tax purposes, it’s crucial to understand the tax implications of this decision.
The Corporate Transparency Act (CTA) goes into effect on January 1, 2024
For existing businesses, the Corporate Transparency Act (CTA) goes into effect on January 1, 2024, and imposes a brand-new federal filing requirement on most corporations, limited liability companies, and limited partnerships and on certain other business entities.
The first stage of the Corporate Transparency Act (CTA)
The first stage of the Corporate Transparency Act (CTA) goes into effect on January 1, 2024. It imposes a new federal filing requirement for most corporations and limited liability companies (LLCs) formed in 2024 and later.