October Insights Newsletter
Article | October 23, 2024
Authored by Johnson & Sheldon, PLLC
NEWS

Thank You!!!!
A big thank you to all of our clients, supporters and friends who voted for us this year! We are thrilled with this award, and we are so appreciative of all the great client relationships that we have as well as the best team of accountants in the region. We will continue to work to be the best Accounting Firm in Amarillo!
INSIGHTS
Important: Beneficial Ownership Information (BOI) Filing Requirements Reminder
We want to remind you about the new Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA) are still applicable. If your entity meets the criteria, you are required to file a BOI report with FinCEN, which report includes details of individuals who own and/or control the company.
These requirements are aimed at increasing transparency regarding ownership intended to address and guard against money laundering, terrorism financing and other illegal financing by small and medium size businesses, for which BOI filings for reporting companies are mandatory for compliance. Please let us know if you need assistance in determining whether your business must file or if you need help with the process.
BOI reports must be filed by December 31, 2024!
Penalties for failure to comply with reporting requirements may include (1) civil penalties of up to $500 per day, (2) a criminal fine of up to $10,000, and/or (3) imprisonment of up to two years.
For more information including how to engage Johnson & Sheldon to prepare and file your report please click here.

Key conversations to have with your CPA
Whether managing personal finances or running a business, this article provides essential questions to ask your CPA for informed decision-making. Discuss everything from tax planning to retirement and succession planning. Stay on top of your financial game by making your CPA meetings count.
Let's Talk!
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At Johnson & Sheldon, PLLC, we’re transforming the meaning of financial consulting by helping our clients achieve results-driven financial solutions.
Based in Amarillo, TX, and with additional locations in Hereford and Pampa, TX, we’re a leading accounting firm in the Texas Panhandle that combines over 30 years of industry experience. Our staff is affiliated with AICPA, the Texas Society of Certified Public Accountants, and we’re up to date with industry standards.
Whether you need help at tax time or year-round, we’re the firm that’s dedicated to helping you achieve financial security, stability, and long-term success.
For more information on how Johnson & Sheldon, PLLC can assist you, please contact us: Amarillo | Pampa | Hereford