Episode 79: Intense Penalties for not Following new Corporate Transparency Act

In this episode:

• Overview of tax and other benefits from having a Health Savings Account (HSA) health plan for medical expenses.
• The IRS is cracking down on the misuse of the fuel credit.
• Software development may be used to qualify an entity for the Research and Development Credit.
• The Social Security Wage Base makes another jump.
• The IRS has released the current tax-gap numbers.
• The IRS is allowing Employee Retention Tax Credit claims to be withdrawn if you feel you filed erroneously. 

We also hear from Kelly Manchester, President and CEO of Corp 1.  She speaks with us about the importance of taking care of your team, how incorporating services can benefit a business, and the necessity of good client experience.  She also fills us in on the Corporate Transparency Act.  This new Act will involve costly penalties for those who don't conform timely.  We highly encourage you to listen and educate yourselves and your business!