Beginning January 1, 2024, the Corporate Transparency Act (CTA) requires certain companies to provide information related to the company’s “beneficial owners”, individuals who own or control the company.

WHO is a BENEFICIAL OWNER: An individual who owns 25% or more of the company, or someone who exercises substantial control over the company, such as senior officers.

WHO must report: A corporation, limited liability company, or entity created in the United States that registered with a State’s Secretary of State (SOS), or a foreign company that registered with a State’s Secretary of State.  Schedule C sole proprietor LLCs, Schedule E rental LLCs and Schedule F farm LLCs are also required to report if they registered with the SOS.

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Important QuickBooks Desktop Product Line-up & Price Changes

QuickBooks announced important changes to Intuit QuickBooks Desktop that may impact you and many of our clients. 

After July 31, 2024, Intuit will no longer sell new subscriptions of the following Desktop products in the US:

  • QuickBooks Desktop Pro Plus
  • QuickBooks Desktop Premier Plus
  • QuickBooks Desktop Mac Plus
  • QuickBooks Desktop Enhanced Payroll

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Albright Crumbacker Moul & Itell (ACM&I) is a progressive accounting and business management firm, headquartered in the heart of the Mid-Atlantic region with our two office locations in Hagerstown, Maryland and Martinsburg, West Virginia. We are dedicated to providing unparallel services to our clients, with the main concentration being in the Tri-State area. At ACM&I, our belief is that the relationship between client and accountant is one of the most important extensions of trust in business and in life. By offering our expertise and vast resources, backed by a commitment to individualized attention and an unwavering dedication to meeting the highest business standards, we hope that we can assist you with finding the most beneficial solution for your specific situation. Bottom Banner

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