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When it comes to cybersecurity, the old way of doing things—including trusting anything inside your network—just doesn’t cut it anymore. Threats are smarter, faster, and always changing. That’s why more businesses are moving to a Zero Trust approach: trust nothing until it’s verified.

If you’re thinking about tightening up your security, here are a few key things to keep in mind:

Always verify identity.
Every time someone logs in, you need to know for sure it’s really them. Strong multi-factor authentication (MFA) isn’t a nice-to-have anymore—it’s a must.

Check the devices too.
It’s not just about the user. Every device trying to connect should meet your security standards. If a device isn’t up to date or secure, it’s a risk.

Limit access.
Only give people access to what they need to do their jobs. Nothing more. It’s one of the easiest ways to keep a breach from spreading.

Keep an eye on everything.
Zero Trust isn’t a set-it-and-forget-it model. You have to keep monitoring users, devices, and activity to catch anything unusual early.

Protect your data—everywhere.
Whether it’s sitting in storage, moving across your network, or being accessed remotely, your data should always be encrypted and secure.

Zero Trust sounds complicated, but it doesn’t have to be. If you’re not sure where to start, we can help. Let’s chat about what makes sense for your business—without the overwhelm.

Contact us today to learn how we can help. Call 267.381.2025 or reach us online.

The start of a new year brings fresh opportunities, but it also brings important financial and security considerations for you and your business. As we move through the first quarter of 2025, here are three updates you need to know.

BOI Reporting and PA Annual Report Filing

The enforcement of the Corporate Transparency Act’s Beneficial Ownership Information (BOI) reporting requirements is currently on hold due to a federal court ruling. This means businesses that have not yet filed do not need to act at this time. However, the situation remains fluid, and reporting requirements may be reinstated later in the year. Stay informed to ensure compliance. Read more.

Starting in 2025, Pennsylvania businesses must file an Annual Report to remain in good standing. This is a new requirement replacing the previous decennial filing system. Reports are due based on your business structure, so be sure to review your deadline and prepare accordingly. Learn more.

Paycheck Calculator—Share with Your Employees

Each tax season, we hear from business owners whose employees are caught off guard by unexpected tax bills. The most common culprit? Insufficient federal tax withholding. To prevent this issue, employees should be encouraged to use the IRS Paycheck Calculator to check their withholding and make any necessary W-4 adjustments. Doing this now can help employees avoid surprises at tax time. Please pass this information along to your team today.

Beware of Tax Season Scams

Tax season is a prime time for scammers looking to steal sensitive financial information. Fraudulent emails, phishing attempts, and fake IRS messages increase significantly this time of year.

Remember:

• Never click on links or open attachments from unknown senders.
• Verify any tax-related emails by contacting the sender directly.
• Be wary of urgent messages requesting sensitive information.

If something seems suspicious, trust your instincts and consult your IT team before taking any action.

Need assistance? We’re here to help. Call 215-723-4881 with any questions.

In keeping with the Department of Treasury’s communicated commitment to reduce regulatory burden on businesses, FinCEN announced on Thursday, February 27, 2025, that it will pause enforcement actions and not issue fines or penalties against companies for failing to file or update beneficial ownership information (BOI) reports. This is pursuant to the previously promulgated Corporate Transparency Act (CTA) reporting deadlines. Refer to the FinCEN announcement at FinCEN Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines | FinCEN.gov.

Given the recent legal and legislative developments and related confusion and uncertainty surrounding CTA/BOI reporting, FinCEN’s announcement pausing reporting deadline enforcement is welcome relief for reporting companies and professionals providing CTA/BOI-related services to reporting companies.

FinCEN noted its intent to issue an interim final rule by March 21, 2025, with updated guidance on extending BOI reporting deadlines. In addition, FinCEN stated it plans to seek public comment on potential revisions to existing BOI reporting requirements and will consider those comments as part of a notice of proposed rulemaking to be issued later this year to determine whether modifications to the reporting deadlines are warranted.

PA Annual Filing Update

It is very important to note that the Federal BOI announcement above is different than the new PA Annual Report Filing reports that are currently due. As a reminder, we cannot file these reports, so we encourage you to do so as soon as possible. For more information, see the following:

Here is a summary of the Annual Report filing requirement, providing extremely helpful information to answer questions and start the filing process.

Further help, with step-by-step instructions and screenshots, can be found at How to File an Annual Report (PDF).

As always, we will keep you informed on these and other topics affecting you and your business.

Beginning in 2025, most businesses will have to file a new annual report with the Commonwealth of Pennsylvania. Exceptions include general partnerships, authorities, fictitious names, financial institutions, and other very narrowly defined business types. There are no exceptions according to the size of the business entity.

Annual filing reports must be filed online, and there is a $7 fee (except for non-profits).

Filing deadlines are as follows:

• Corporations and non-profits: June 30, 2025
• Limited Liability Companies: September 30, 2025
• Limited Partnerships: December 31, 2025

The Pennsylvania Department of State is supposed to mail notices of reminders to file but will not be doing so until two months prior to each deadline. Knowing that mail is not always reliable, we would encourage you to file your annual report now.

Here is a summary of the Annual Report filing requirement, providing extremely helpful information to to answer questions and start the filing process.

Further help, with step-by-step instructions and screenshots, can be found at How to File an Annual Report (PDF).

The filing of this annual report is different from the filing requirement for the Beneficial Ownership Information (BOI) from the federal government. Many other states already have an annual report filing requirement, so we do not expect the court challenges or implementation issues that we have seen regarding BOI filing. We would encourage you to file this annual report with the Commonwealth of Pennsylvania now.

We want to provide a new update regarding the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA).

On January 23, 2025, the U.S. Supreme Court issued a stay of a nationwide injunction previously put in place by a district court in Texas (Texas Top Cop Shop, Inc. v. Garland No. 4:24-CV-478 (E.D. Texas 12/3/24)). Despite this development, it’s important to note that a separate injunction from another Texas court (Smith v. U.S. Department of Treasury (January 7, 2025) U.S. Dist. Court, Eastern Dist. of Texas, Case No. 6:24-CV-336)) remains in place.

The Financial Crimes Enforcement Network (FinCEN) announced on January 25, 2025, that reporting companies covered by the BOI reporting requirement do not have to file the reports (and cannot be penalized for not filing) while an injunction remains in place.

However, any small businesses that fall under the CTA may still choose to submit BOI reports voluntarily.

In legislative developments, two bills, HR 425 and S 100, have been introduced in Congress to repeal the Corporate Transparency Act.

As always, we will stay on top of the fast-changing status of this law and keep you informed of all developments as they occur.

We are hiring for multiple positions. Are you an experienced tax preparer, senior accountant, or manager looking to take your career to the next level? Are you looking for a flexible, collaborative team environment where you can manage your own client base, advance quickly, and be rewarded for your contributions? Are you looking for an extremely broad work and learning experience? If you have 2-10 years of experience in tax preparation and accounting, we have very exciting opportunities and positions for you. Sound like a perfect fit? Click here to learn more about the role and apply now.