Enforcement of the CTA (Beneficial Ownership Information Reporting) is once again on hold The U.S. Court of Appeals for the Fifth Circuit vacated its prior order staying the nationwide injunction against the Corporate Transparency Act (CTA). This means that enforcement of the CTA (Beneficial Ownership Information Reporting) is once again on hold, pending further developments. Last Thursday’s alert regarding reporting obligations and deadline of January 13, 2025 is no longer applicable. You can learn more here: https://lnkd.in/g8NdEgxP We will keep you apprised of any changes as they occur.
Shannon & Associates, LLP
Accounting
Kent, WA 1,380 followers
We’re a full-service CPA firm partnering with you in achieving your financial and life goals.
About us
Shannon & Associates is a leading Seattle-area CPA firm serving businesses and individuals throughout the Puget Sound area from an office in South King County, just south of Seattle. The firm is well-known for its deep experience and expertise in serving manufacturers, wholesale distributors, construction, not-for-profit organizations, employee benefit plans, retailers, and high net worth individuals. The firm's approach is rooted in building strong and trusted business relationships that translate into faster growth, greater financial stability, and enhanced profitability for our clients. Shannon & Associates is a member firm of the HLB International network. HLB is a global network of independent advisory and accounting firms with over 38,000 professionals in over 150 countries. Formed in 1969, HLB services clients through their member firms. HLB is currently the 11th largest global network and was named the Network of the Year at the 2020 Digital Accountancy Awards. Specialties: Audit, state and local tax, international tax, business consulting and accounting services including manufacturer accounting, wholesale distributor accounting, construction accounting, retail accounting, not-for-profit accounting, employee benefit plan audits and administration, individual accounting and tax, small business bookkeeping, business valuations, wealth management, financial, retirement, and estate planning.
- Website
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http://www.Shannon-CPAs.com
External link for Shannon & Associates, LLP
- Industry
- Accounting
- Company size
- 11-50 employees
- Headquarters
- Kent, WA
- Type
- Privately Held
- Founded
- 1950
- Specialties
- Auditing, Tax - business, individuals, estates, trusts, international, Manufacturing, Distribution, Not for Profit, Fraud and Safety Hotline, Employee Benefit Plans, Accounting, Consulting, and Accounting Software -Quickbooks, Sage Mas 90, Microsoft Dynamics
Locations
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Primary
Get directions
1851 Central Place S #225
Kent, WA 98030, US
Employees at Shannon & Associates, LLP
Updates
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🔔 Important Update on BOI Reporting Requirements! On December 23, 2024, the 5th Circuit Court of Appeals reinstated the requirement for businesses to file the Beneficial Ownership Information (BOI) report. What does this mean? • The BOI reporting requirements are back in effect immediately. • To give businesses time to comply, FinCEN has extended the filing deadline to January 13, 2025. If you're one of the estimated 25 million businesses impacted, it's crucial to act now to meet the new deadline: https://lnkd.in/g8NdEgxP #BOIReporting #BusinessCompliance #FinCEN
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COMMITTED TO YOUR FINANCIAL AND BUSINESS SUCCESS We’re a full-service CPA firm partnering with you in achieving your financial and life goals. Talk to us TODAY... https://lnkd.in/e3wPidEU
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Want Expert Accounting in Manufacturing? ✅ From inventory management to cost tracking, our expert accountants understand the ins and outs of manufacturing accounting. ✅ Let Shannon & Associates help you streamline operations and boost your bottom line. https://lnkd.in/gPQM4s6E #CPA #Manufacturing #Accounting
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📈 Smart Tax Moves for Your Business Before 2024 Ends Business owners, it’s time to prepare! Strategic year-end planning, like deferring income or accelerating deductions, could mean big savings for your business this year and next. ➡️ See key actions to save: 2024 Year-End Tax Planning for Businesses https://lnkd.in/giS4HGYB #BusinessTaxTips #YearEndPlanning #SmallBusiness
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💰 Year-End Tax Planning Made Simple The year-end is near! Now’s the time to take action to lower your tax bill for 2024. Deferring income, accelerating deductions, and smart expense bunching could make a big difference. ➡️ Explore your list of actions: 2024 Year-End Tax Planning for Individuals https://buff.ly/41mytz7 #TaxPlanning #YearEndSavings #FinancialTips
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Important 2024 Year-End Tax Planning Actions for Businesses With the year-end quickly approaching, it is time to start thinking about moves that may help lower your business’s taxes for this year and next. Based on the results of the November election, it would appear that the standard year-end approach of deferring income and accelerating deductions to minimize taxes will continue to produce the best results for most small businesses, as will the bunching of deductible expenses into this year or next to maximize their tax value. A List of Actions to Help Your Business Save Tax Dollars... https://lnkd.in/giS4HGYB
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With the year-end quickly approaching, it is time to start thinking about moves that may help lower your tax bill for this year and next. Based on the results of the November election, it would appear that the standard year-end approach of deferring income and accelerating deductions to minimize taxes will continue to produce the best results for most taxpayers, as will the bunching of deductible expenses into this year or next to avoid restrictions and maximize deductions. Your List of Actions to Help You Save Tax Dollars https://lnkd.in/gyVnTCFw
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🚨 January 1 Deadline: Beneficial Ownership Reporting Don’t miss the Beneficial Ownership Information (BOI) reporting deadline under the Corporate Transparency Act (CTA)... https://buff.ly/4gg58uy #BeneficialOwnership #CorporateTransparency #BOIDeadline #StayCompliant
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🚨 January 1 Deadline: Beneficial Ownership Reporting Don’t miss the Beneficial Ownership Information (BOI) reporting deadline under the Corporate Transparency Act (CTA). Key points: Applies to most corporations, LLCs, and similar entities. Mandatory filing with FinCEN to combat money laundering and terrorism financing. Penalties for non-compliance include criminal and civil fines. https://lnkd.in/g8NdEgxP 📅 Act Now to stay compliant and avoid penalties. Have questions? We’re here to help! #BeneficialOwnership #CorporateTransparency #BOIDeadline #StayCompliant
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