Important Reminder: Register Your Business on FinCEN.gov by 1/1/2025
This is a reminder that any of you that have businesses that are C-Corps, S-Corps, Partnerships, LLC's, Single Member LLC's, Sole Proprietors registered as DBA with the secretary of state, which were formed before 1/1/2024 you need to register them by 1/1/2025 on the fincen.gov/boi website (Nonprofits are exempt)
Taxes and accounting done right!
Taxes
It's never too late to organize your taxes! I can help you with personal income, your small business, non-profits and more!
Accounting
Whether it's setting up payroll, organizing your books, or al a carte accounting, I'll help you get all your ducks in a row!
About Belinda
Belinda Kent Tax & Accounting was started in 2006 to help individuals and small businesses owners with their tax and accounting needs. My goal is to enable and empower small businesses and individuals to put their whole energy into running their businesses and lives and not worry about the details and organization of accounting and taxes which can be overwhelming.I offer bookkeeping and accounting services to help you manage your business. I also offer tax services for small businesses and individuals.I, Belinda Kent, the owner became an Enrolled Agent eligible to practice before the IRS on June 21, 2012. With this credential I can not only prepare tax returns but can also assist you with questions you have about notices you receive from the IRS, and I can also represent clients at various IRS hearings, as well as assist clients with various things that are considered practicing before the IRS.
Let's talk!
Send your questions:
SERVICES
Taxes
I specialize in the following returns:
- 1040 Personal Income Tax Return
- Clergy returns and proper reporting of parsonage allowance
- Schedule C & E for sole proprietors and rental business
- 2555 forms for missionaries and others working overseas
- 1065 Partnership Returns for small partnerships
- 1120S Corporate Returns for small S Corps
- 1120C Corporate Returns for small C Corps
- 990 returns for small non-profits.
- Quarterly estimated tax payments
Accounting
Payroll Services – I can get you setup to do your own payroll, or do it for you, and take care of all the monthly and quarterly payroll filings. I will set you up with all the tax liability reporting agencies so you will never fall behind in payroll tax again.Monthly Bookkeeping Services – including bank reconciliation, monthly reporting, and financial statements that keep you on top of your business’s finances.QuickBooks Proficiency – I can set you up with either QuickBooks Desktop accounting or QuickBooks Online Accounting service and teach you how to use it or do it for you.Clean Up Services – Have you fallen behind on your books? I can get you up to date.Sales/Use Tax Reporting – I can help track your sales tax due – and set reminders for due dates.Al a Carte Accounting – I will help you as much as you want i.e. do all your date entry and accounting, or do just the pieces you need such as payroll liability payments etc., or show you how to do everything on your own and be there as a support for you.
Link to off-site portal where you can securely upload and download your tax files.
TAX UPDATES
Below is a list of resources to help you organize your records and understand tax laws.
ID.me Setup
As the 2024 tax season quickly approaches, I am advising all clients to set up an ID.me account now with the IRS. It is a trusted technology provider of the IRS that provides secure identity verification for its digital services. Setting up an ID.me account is quick and easy. It requires uploading a picture of your driver’s license or passport and taking a live selfie to confirm your identity.
Need help?
Below is a link to a setup guide that will walk you through the steps of setting up this account. Once you have an account, you will have access to view and confirm key tax information such as stimulus payments you have received (EIP), advanced child tax credit payments received, estimated tax payments you have made, tax return transcripts, copies of W-2’s and 1099’s, etc.It is vitally important and urgent this tax season to have the correct information on the amount of EIP and advance child tax credit payments received. If the amount claimed on the tax return does not match your online account, there will be a very long processing delay of your refund by the IRS.
I look forward to working with you more in the coming weeks.
Please let me know if you have any questions.
FBAR
Foreign Bank and Financial Accounts Info
Go to Financial Crimes Enforcement Network
Go to Bank Secrecy Act Filing System
October FBAR extension deadline nears for foreign bank and financial account holdersThe Internal Revenue Service today reminds U.S. citizens, resident aliens and domestic legal entities that the extension deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is Oct. 15. For additional information about filing deadlines, filers should look to Financial Crimes Enforcement Network’s (FinCEN) website.Filers who missed the April 15 annual due date earlier this year received an automatic extension until Oct. 15, 2022, to file the FBAR. They did not need to request the extension. See FinCEN’s website for further information.Who needs to file?
The Bank Secrecy Act requires U.S. persons to file an FBAR if:1. They have a financial interest in or signature or other authority over one or more accounts, such as a bank account, brokerage account, mutual fund or other financial account located outside the United States, and2. The aggregate value of all foreign financial accounts exceeds $10,000 at any time during the calendar year 2021.Because of this threshold, the IRS encourages U.S. persons with foreign accounts, even relatively small ones, to check if this filing requirement applies to them. A U.S. person is a citizen or resident of the United States or a domestic legal entity such as a partnership, corporation, limited liability company, estate or trust.How to file
Filers do not file the FBAR with their federal income tax return. The 2021 FBAR must be filed electronically with FinCEN and is only available through the BSA E-Filing System website. Individuals who are unable to e-file their FBAR must contact FinCEN at 800-949-2732 or FRC@fincen.gov to request an alternative filing method. Callers from outside the U.S. can contact the helpline at 703-905-3975.Avoid penalties
Those who don't file an accurate FBAR when required may be subject to significant civil and criminal penalties that can result in a fine and/or imprisonment, depending on the facts and circumstances.
Go to Financial Crimes Enforcement Network
Go to Bank Secrecy Act Filing System
Contact
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