Coastal Business Services, LLC

14/01/2025

Getting dizzy from all the recent BOI reporting changes? Here’s a quick recap (and what you need to focus on NOW):

On December 3rd, the original BOI reporting deadline – January 1, 2025 – was called off (thanks to the U.S. District Court for the Eastern District of Texas). The government appealed this decision, but the court upheld it. Not long after, the court reversed THAT decision – setting a new deadline of January 13th.

THEN, on December 27th, the reporting requirements were called off again. Got BOI whiplash by now?

So, the current status is: You DON’T need to file BOI reports. But DO stay informed, and keep your filing information handy in case of any sudden changes. And if you need any help with that, just give us a call.

13/01/2025

The IRS just announced the 2025 tax season official starting date: January 27. That's when they'll start accepting and processing tax returns.

Let's start getting you scheduled for your tax filing appointment. The sooner the better.

13/01/2025

Are you a fan of daylight savings? If you said yes, we have some concerns. (Not really).

Our new president apparently isn’t a fan. And the Trump administration could mean you’ll never have to change your clocks again.

https://apnews.com/article/trump-daylight-saving-time-36ccbf61bea70aaac0f5c43b8029957c

10/01/2025

Glad the holiday chaos is behind us? Apparently, the IRS is still in the holiday spirit, and they’ve got one final gift – 2.4 billion in Recovery Rebate Credits (with a max individual credit of 1.4k).

If you’re a recipient, the credit will appear automatically in your bank account late this month. Be on the lookout for a letter from Uncle Sam about this.

10/01/2025

Do you have disabled employees? If you do, are you really supporting them the way that THEY need? Practically, that can look like putting in ramps or handrails, making parking lot renovations, or installing assistive technologies.

If you make any of these changes (and more) to your business, you can qualify for The Disabled Access Credit or the Architectural Barrier Removal Tax Deduction.

What other ideas do you have to serve your disabled employees better this year?

08/01/2025

Making resolutions is easy, but actually STICKING TO them is the hard part. And right about now is when the new year's motivation starts to wear off.

Just a quick check-in: Have you stuck to your financial resolutions so far?

07/01/2025

Life tends to get away from you – there’s the kids’ basketball games, and the work deadlines that keep piling up, and so many loads of laundry. Suddenly it’s April 15th and Uncle Sam is knocking on your door. So, what can you do NOW for a less-stressful tax season?

The IRS hasn’t started processing forms yet (the exact date is still TBD), but you can get ahead by gathering these documents:

💰Income documents
🤑Deduction and credit records
🔏Personal information
📫IRS correspondence

Need help with the paper chase? Just give us a call.

06/01/2025

Dennis O'Brien 2024 Recap & Being Thankful For You

What will you cultivate this time of year as you look back on what 2024 brought? Some ways to move you toward being thankful.

06/01/2025

Name some simple financial goals that you'd recommend for anyone trying to improve their situation this year.

We've got thoughts, but we like to hear from you all too.

06/01/2025

5 Business Ideas for Entrepreneurs in 2025

Yes, you CAN start a business. Here's my list of business ideas for entrepreneurs anyone can do.

03/01/2025

Bench Accounting customers *thought* they were prepared for their 2024 tax filing, until a week ago when the company abruptly announced its closure, locking customers out of their account and giving them until March to transition all of their documentation to a new bookkeeping service.

Since then, Bench has been acquired by Employer.com and their site is back up, promising continuity of service and platform stability. Here's the latest press release: https://www.bench.co/press-release

If you are a Bench client who would like to make a switch to a local accounting firm, reach out. We can assist you in getting everything transitioned over to properly address your 2024 taxes with minimal disruption. DM or call us if you have any questions.

02/01/2025

AI scams are increasing, and it's predicted to get worse in 2025.

What to do? "Be wary of unexpected texts, emails, and calls that create urgency or pressure, especially those claiming to be from trusted organizations."
..among other things

https://www.forbes.com/sites/frankmckenna/2024/12/16/5-ai-scams-set-to-surge-in-2025-what-you-need-to-know/