Navigating the Corporate Transparency Act with Fricke & Associates

Published by William T. Fricke at February 8, 2024

About Us

The Corporate Transparency Act (CTA) has introduced new reporting requirements for businesses across the United States, particularly affecting companies near Peachtree Corners and the greater Atlanta area. Fricke & Associates, a leading CPA firm in Peachtree Corners, GA, is at the forefront of assisting businesses in complying with these regulations.

Who Needs to Report?

All domestic and foreign entities registered with a U.S. State must adhere to these new mandates.

Timely Compliance is Key

For companies in Peachtree Corners Ga and the surrounding Atlanta areas, Fricke & Associates provides client accounting services and tax filing services to ensure timely compliance. New entities registered in 2024 must file within 90 days, and those in 2025 within 30 days. Existing entities have a deadline of January 1, 2025, to comply.

Reporting Essentials

Each company must report various details, such as legal names, business addresses, and identification numbers. For financial planning companies in Atlanta, GA, including those providing services like law firm accounting in Peachtree Corners, this means ensuring that all beneficial ownership information is accurate and up to date.

Defining Beneficial Ownership

Understanding who qualifies as a beneficial owner is critical. Fricke & Associates can help clarify these definitions for their clients.

Penalties for Noncompliance

Businesses must be aware of the civil and criminal penalties for failing to comply, including fines and imprisonment. As an experienced CPA near Atlanta, GA, Fricke & Associates is equipped to advise businesses on how to avoid these penalties.

Proactive Measures

For start-up services, tax planning, and preparation services in Marietta, GA, Fricke & Associates recommends proactive measures. This includes verifying registration with the State and conducting due diligence on all financial reporting.

Expert Guidance

With a tax consultant in Atlanta, GA, businesses can navigate these reporting requirements confidently. Fricke & Associates charges a competitive fee for this filing, ensuring that businesses receive expert guidance at a fair price.

The CTA represents a significant change in how businesses report ownership information. With Fricke & Associates’ expertise in bookkeeping services in Peachtree Corners, GA, and their role as a trusted business accountant, your company can achieve compliance with ease and security.

For more details on navigating the CTA or to schedule a consultation, visit Fricke & Associates’ website or contact them directly.

Explore Our Blog

We have set ourselves up as leaders in the industry to educate our audience on relevant topics in the accounting world.

Tax Resolution Services

May 1, 2024 by John Holmes

Navigating the complexities of tax issues can be daunting. This…

Read more

In the Court of the Surge in Tax Identity Theft: An Observation by Fricke & Associates

April 1, 2024 by John Holmes

In 2024, the IRS reported a significant 30% rise in…

Three Things to Look For When Hiring A Tax Professional

April 1, 2024 by William T. Fricke

When it comes to managing your taxes, the guidance of…

We can help

If you need a bookkeeping professional for Small businesses in Atlanta, GA, Fricke & Associates, LLC. We have the expertise and experience to understand your needs, analyze your financial data, promote your growth, and ensure your financial future is set on a successful path. Additionally, we are a leader in developing and implementing the latest technology for optimizing accounting, tax, and financial planning solutions.

Join Our Email List

Enter your email address to stay up-to-date on recent tax laws and receive helpful tips!