Posted on December 6, 2024

On December 3, 2024, a Texas Federal District Court ruled that the Corporate Transparency Act (CTA) and its associated regulations are unconstitutional. The court’s decision was based on the argument that Congress exceeded its powers under the Commerce Clause by enacting the CTA, which requires certain business entities to report their beneficial owners.  The court… read more

Posted on December 5, 2024

  There is so much to think about when a couple decides to divorce, and frequently emotions take over and prevent the couple from considering important details. Estate planning is one item that frequently falls through the cracks. To be fair, even though estate planning is something everyone should do, many people put it off… read more

Posted on December 4, 2024

Few numbers are as important to mortgage lenders as your FICO credit score. This score measures how well you’ve paid your bills and managed your credit. The higher your FICO score, the more likely it is that lenders will approve you for a new mortgage or refinance. FICO scores range from 300 to 850. FICO… read more

Posted on December 1, 2024

From all of us at Triplett & Carothers, we send our best wishes for the holidays and the new year to our clients and colleagues, family and friends.    

Posted on November 3, 2024

As of Jan. 1 this year and extending until Jan. 1 next year, a yearlong requirement will be imposed on many small businesses. The owners of these small businesses must file a beneficial ownership information report with FinCEN, including personal identifiable information as the owners of said businesses. Companies that form during this time period… read more

Posted on November 2, 2024

Let’s start with the basics: What is capital gains tax? It is a type of tax on profits earned from the sale of assets like stock or real estate. When these are sold for more than they cost to purchase, the IRS taxes the gain. In real estate, capital gains are calculated by taking the… read more

Posted on November 1, 2024

Planning a trip is always important, especially for senior travelers with accessibility concerns while traveling. Call your airline carrier’s customer service line to discuss what forms of assistance or accommodations are available to you. If you need to be boarded early, please let the agent at the gate know. Gather all the important documents you… read more

Posted on October 25, 2024

Understanding how the Corporate Transparency Act (CTA) applies to your business and what you must do to comply can introduce new burdens that you may have scarce resources to address. Terms like “beneficial owner” and “substantial control” may seem vague and confusing, further complicating compliance efforts. But compliance is critical for business owners who want… read more

Posted on October 2, 2024

Taxpayers in areas affected by Hurricane Helene now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments. Among other things, this includes 2024 individual and business returns normally due during March and April 2025, 2023 individual and corporate returns with valid extensions and quarterly estimated tax… read more

Posted on October 2, 2024

A blended family often brings joy — there are more people to love and be loved by. As your family expands, you will want to provide for each child, whether from the previous or current marriage, and create safeguards to avoid future disagreements and potential unfair treatment. You can create an estate plan that accounts… read more