Cryptocurrency has become a big part of both personal finance and business transactions, but many people don’t realize the tax implications. The IRS treats crypto like property, meaning that buying, selling, or using digital currencies comes with tax responsibilities—just like stocks or real estate. Whether you’re an investor or a business owner, understanding how these rules apply can help you stay compliant and avoid penalties.

In a significant update under the Corporate Transparency Act (CTA), the Financial Crimes Enforcement Network (FinCEN) published an interim final rule on March 26, 2025, that reshapes the definition of a “reporting company.”

The Financial Crimes Enforcement Network (FinCEN) has announced that the Beneficial Ownership Information (BOI) reporting requirement under the Corporate Transparency Act (CTA) is once again mandatory for businesses.

To give businesses additional time to comply, FinCEN has extended the general deadline by 30 days from February 19, 2025. This means that most reporting companies now have until March 21, 2025, to file their BOI reports.

Many businesses see entertaining clients, customers, or employees as part of maintaining good relationships and conducting business effectively. Whether it’s a client lunch, team celebration, or networking event, these expenses can add up—but not all of them are deductible. Recent tax law changes have placed stricter limits on entertainment deductions while still allowing some meal expenses to qualify. Here’s what business owners need to know.

As we approach the end of the year, it's the perfect time to reflect on your financial situation and plan for the year ahead. At JHA, we understand that each client's needs are unique. Review your records, explore year-end tax strategies, set your financial goals, and stay informed about any relevant changes. These steps will help you kick off the new year with confidence and clarity.

Letter for Clients Regarding the Beneficial Ownership Information Report Filing

With the final tax deadline behind you, it might seem like the hard work is over. However, this post-deadline period is a valuable opportunity to prepare for future success.

The final deadline for personal income taxes looms for those who requested an extension. This is your last opportunity to finalize your 2023 tax obligations and start the new year with peace of mind, knowing that everything is in order.

As autumn settles in, bringing a fresh wave of energy and focus, it’s time for businesses that have taken advantage of tax extensions to finalize their 2023 tax obligations. The fall season symbolizes preparation for the end of the year, and for businesses, it’s also a time to ensure that financial records are squared away, and tax returns are filed.

Summer is a time for fun and relaxation, but it’s also a good opportunity to think about your taxes. Many summer activities can have an impact on your tax situation.

At JHA we want to ensure you stay informed about your tax obligations throughout the year. In the U.S., income taxes are collected on an ongoing basis, often through employer withholdings from each paycheck. However, if you earn income as a freelancer or receive certain types of nonwage income, you may need to pay "estimated quarterly taxes" to the IRS.

Effective January 1, 2024, many companies in the United States must report information about their Beneficial Owners - those who ultimately own or control the company. This information must be submitted to the Financial Crimes Enforcement Network (FinCEN).

As we embark on the new year, we are pleased to share noteworthy updates at JHA. Our dedication to optimizing your experience is reflected in recent enhancements to our digital presence.