Check out our January newsletter!
NORTON NEWSLETTER
THE REAL ESTATE TAX PRO ™
NortonAccountingServices.com 985-690-4498 Info@NortonAccountingServices.com JANUARY 2024
EASE OF MIND • AVAILABILITY • FLEXIBILITY • INDIVIDUAL APPROACH • EXPERIENCE • TAX SAVINGS OPPORTUNITIES
Learn More About the Fed’s New Beneficial Ownership Information Requirements NEW REPORTING MANDATED FOR BUSINESS OWNERS
A new year always brings a certain amount of change with it. This year is no different. As of Jan. 1, the federal government has put a new requirement in place for many business owners resulting from the Corporate Transparency Act that became law with bipartisan support in 2021. Effective this month, the Financial Crimes Enforcement Network (FinCEN) mandates that business owners in America meet Beneficial Ownership Information requirements. For example, if you own an LLC or multiple LLCs, you must disclose all the beneficial owners of each company you own. In the same way, if you have an LLC that another LLC owns, you would need to identify all of the beneficial owners of both LLCs. One of the attractive advantages of having an LLC is the level of anonymity for the individual owners of an organization. This can potentially open the door to illegal activity — or make it much easier to hide. So, the government is using the new reporting requirement to uncover foreign owners of American companies and potential money laundering schemes. If you set up an LLC before Jan. 1, 2024, you have until the end of the calendar year 2024 to register your beneficial owners in the online database. Those setting up a new LLC after Jan. 1, 2024, will have 30 days to register beneficial owners in the database once the LLC is established and an EIN
has been received. As you complete your online registration, you must also provide personal information to verify your identity (such as a passport or driver’s license). You will be issued a FinCEN identification number to use with other LLCs you register online. There is no fee to register your information.
“The government is using the new reporting requirement to uncover foreign owners of American companies and potential money laundering schemes.”
Also, not every company must register. Exceptions include publicly traded companies meeting specified requirements, many nonprofits, and certain large operating companies. As with everything, the guidelines and rules are subject to change. You should keep several aspects of this requirement in mind. Theoretically, the company information database containing the information about beneficial owners won’t be open to the public. However, an attorney can get a subpoena and see all your companies. And the IRS will eventually be able to use this information to determine who should be paying tax on income reported on 1099s to LLCs. For more information about these new reporting rules, check out FINCEN. gov/boi . The site provides more information about the change and the new requirements. As always, we are your resource and encourage you to lean
on us through this new requirement. We’re here to help with reminders about the new rule and answer questions. As one of our clients, please email us and let us know when you set up a new company. We’ll remind you to complete your online FinCEN registration.
–Bob Norton
985-690-4498 • 1
You could easily miss a lot happening above our atmosphere if you didn’t stay up late or watch the news beforehand. Once the sun sets tonight, look up at the sky. As long as you’re not in an area with heavy light pollution, you should be able to see brilliant constellations. On some nights, you may even see more than you expected. No, we’re not talking about UFOs or little green men but about naturally occurring phenomena deep in outer space. Explore the Celestial Highlights of 2024 Keep Your Eyes to the Sky
In today’s fast-paced world, it’s easy to overlook the simple yet profound act of sharing a meal with family or friends. However, research suggests that eating together at least three times a week can significantly benefit overall health, particularly for children. Let’s delve into why this age-old tradition is more important than ever. Promotes Healthy Eating Habits One of the most immediate benefits of family meals is you generally eat better. Families sitting down to eat together are more likely to consume a balanced homemade meal rich in essential nutrients like calcium and fiber. This is especially beneficial for children in their formative years who need these nutrients for growth and development. Weight Management Eating together also helps in controlling weight more effectively. Home-prepared meals usually contain healthier ingredients and allow for better portion control. Mealtime structure also supports better eating habits, which can be a crucial factor in weight management for both adults and children. Positive Effects on Child Development Research suggests that eating dinner together positively affects child development. Children interact with adults and siblings, and conversations help them learn social skills, table manners, family values, and culture. Emotional Well-Being Family meals are not just about the food but also about spending quality time together. Enjoying a meal with loved ones allows family bonding and may even improve mental health. It contributes to fewer emotional problems and helps children feel loved, safe, and secure. Educational Benefits Mealtime conversations can be educational. Parents can discuss various topics, helping children expand their knowledge, vocabulary, and critical thinking skills. This intellectual stimulation can be particularly beneficial for school-aged children. Sharing meals with family or friends is not just a social custom but a healthful practice with numerous benefits. The advantages are numerous, especially for children. So, make it a point to gather around the table for a meal at least three times a week. Your body, mind, and soul will thank you. FOOD FOR THOUGHT— THE BENEFITS OF EATING AS A FAMILY
Several unique events take place in 2024. Here are the highlights you don’t want to miss!
Meteor Showers Seeing a shooting star is magical, but witnessing a meteor shower is awe-inspiring. Meteor showers occur when interstellar dust particles enter our planet’s atmosphere at high speeds. The first meteor shower of the year is the
Quadrantids Meteor Shower, which should take place a few days after New Year’s, but if you miss it, you won’t have to wait long to see another. April, May, July, August, October, and November should also have
meteor showers. Be aware that if the moon shines too brightly, you likely won’t be able to see the meteors.
Saturn Looking at other planets can be fascinating but not always possible, especially without a telescope. Thankfully, you won’t need a telescope to see Saturn and its rings on Sept. 8. Once the sun sets, head outside and look to the east. You should see a bright yellow star that’s not usually visible. That’s Saturn! Total Lunar Eclipse You won’t have to wait until night to see this rare occurrence. On April 8, the moon will pass perfectly between the Sun and Earth, creating an eclipse. Residents of Texas, Oklahoma, Arkansas, Missouri, Illinois, Kentucky, Indiana, Ohio, Pennsylvania, New York, Vermont, New Hampshire, and Maine will see a total eclipse for only a handful of minutes. The rest of the country will still see an eclipse, but it won’t be as extreme. The next total lunar eclipse won’t occur until August 2044, so get out there and see it this year! Just be sure to wear protective eyewear!
2 • NortonAccountingServices.com
KUPATA’S ROAD TO FAME
The Stray Dog Who Captured the World’s Heart
We often think dogs live the good life, as they seem to do nothing but play, eat, and sleep. Yet, some dogs are busy at work, some without being asked to do so! Take
belly shows just how loved he is. You’ll even see a massive painting of the beloved animal on a nearby building.
Kupata, the stray dog in Georgia, for example. This street-roaming pup takes it upon himself to guard a crosswalk all day, every day. In the town of Batumi, this stray stays by a single crosswalk and forces traffic to stop to allow pedestrians to cross the street. He’s especially protective of children! If Kupata sees a car isn’t slowing down, he’ll bark at the driver as they drive away and run to protect the person crossing the street. One local even shared that Kupata will cross the road with children and stay at the park to protect the youngsters. Kupata, which in English means “sausage,” has become a staple in the community due to his hard work, and locals all pitch in to care for and feed the stray dog. His consistently round
Now, after tireless days of guarding his street, Kupata has his own doghouse provided by the city with an accompanying star on the road with his name on it. Kupata’s dedication
made him go viral on social media, and now travelers from all over the world come to see Kupata. Don’t distract him, though. He’s busy at work!
Sadly, even though Kupata remains cherished by his community, thousands of stray dogs in the country need shelter, food, and companionship. According to activists, around 500,000 stray dogs and cats roam the streets of Georgia. While stray animals may get a bad reputation for being dangerous or unfriendly, Kupata proves that even these furry friends deserve love and recognition.
TAKE A BREAK
BAKED SALMON WITH GARLIC AND LEMON
Prepare to tantalize your taste buds with a zesty dish that combines salmon with the vibrant flavors of garlic and lemon!
Ingredients
• 2 lbs salmon fillets • 4 cloves garlic, minced • Juice of 2 lemons • 2 tbsp olive oil
• 1 tsp dried oregano • 1 tsp dried thyme • Salt and pepper, to taste
Directions
1. Preheat oven to 375 F. 2. Line a baking dish with parchment paper. Place the salmon fillets on the baking dish. 3. In a small bowl, mix together the garlic, lemon juice, olive oil, oregano, thyme, salt, and pepper. Pour the mixture over the salmon. 4. Bake for 15–20 minutes or until the salmon is cooked through. Serve and enjoy!
Boots Candles Carnation Furnace
Garnet Hockey Insulate Janus
Opposite Resolution
Skating Sweater
985-690-4498 • 3
Norton Accounting Services, LLC
THE REAL ESTATE TAX PRO ™
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
NortonAccountingServices.com 985-690-4498 Info@NortonAccountingServices.com
1527 Gause Blvd. Ste. 132 Slidell, LA 70458
INSIDE 1 How the New FinCEN Reporting Affects You
2
Why Eating Together Matters More Than You Think A Preview of 2024’s Best Celestial Events Meet Kupata, Georgia’s Street-Roaming Pup Hero Baked Salmon With Garlic and Lemon Transform Your Home With These 3 Smart Devices!
3
4
THE FUTURE OF HOME LIVING: Discover the Must-Have Smart Devices for Your Space
When we think of technological innovations, we may focus on things like smartphones and self- driving cars. But in today’s fast-paced and ever-advancing world, our homes are experiencing smart revolutions of their own.
Smart home devices are easy to operate and make our lives easier. So, if you’re looking to make a digital upgrade to your home, here are three devices we recommend you check out.
Voice-Activated Assistants Voice assistants, like Amazon’s Alexa, Google Home’s “Hey Google,” and Apple Homepod’s Siri, can be incredibly helpful around the house. With just a simple verbal command, they can set daily reminders for specific tasks, appointments, or medications; place outbound calls for emergencies; and even provide basic first-aid instructions when asked. Robot Vacuums On average, Americans spend six hours a week vacuuming their homes. While this task may seem simple, it can be quite physically demanding. Robot vacuums clean even the toughest spots (like under the couch!) all on their own, then return to their charging station. Smart Pet Feeders We love our furry friends, but feeding them at the same time every day can be a challenge. Not only that but feeding our four-legged friends requires a bit of bending, too. Luckily, smart pet feeders do all the work for you! They distribute food and water automatically and on a consistent schedule.
4 • NortonAccountingServices.com
Published by Newsletter Pro • www.NewsletterPro.com
Page 1 Page 2 Page 3 Page 4www.nortonaccountingservices.com
Made with FlippingBook Ebook Creator