May 2025

Monthly Newsletter 

Business, Bookkeeping, and Taxes

Recent changes have removed Beneficial Ownership Information Reporting (BOIR) requirements for most U.S. companies and U.S. persons. This is great news for many small business owners, as it simplifies the compliance process.

However, the update also introduces new deadlines for foreign companies. If that applies to your business, it’s important to review the updated requirements and ensure you’re meeting the correct deadlines.

Although tax season is over, staying on top of your finances is a year-round priority. Now is a great time to organize your records. Be sure to keep receipts, tax documents, and financial statements for at least five years in case of an audit or for tracking long-term trends. Digitally scanning and storing your documents is an easy way to keep everything accessible and secure.

It’s also the perfect time to review your estimated tax payments. If you haven’t already, take the time to project and plan for the rest of the year with your CPA or tax accountant. Being proactive now can help you avoid penalties, and feel confident heading into the next tax season.


For those who filed an extension:

There are two key dates to keep in mind:

September 15 – Deadline for S corps and partnerships that filed for an extension

October 15 – Deadline for individuals and single-member LLCs that filed for an extension


I just want to take a moment to say thank you for an incredible tax season. To our clients, community, and supporters your trust means the world to us.

We had the opportunity to work with so many new business owners this season, many of whom came to us with their bookkeeping completely untouched. Being able to step in, support them, and help them get clarity was a huge win for us.

There's nothing better than when a business owner sees the value in what we do because we truly love what we do, and we genuinely enjoy supporting business owners like you.