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.