If you own or run a business, there’s an important compliance deadline you’ll want to mark on your calendar: submitting your Beneficial Ownership Information (BOI) report to FinCEN, the Financial Crimes Enforcement Network under the U.S. Department of Treasury. Why the BOI Report Matters This requirement comes from the Corporate Transparency Act (CTA), which aims to crack down on financial
Understanding the key terms you will encounter as an LLC member (owner, but we’ll get to that shortly) will make it easier to navigate the legal and operational aspects of your business. In this post, we’ll break down some essential LLC terminology in simple, professional key terms to help you feel confident about setting up, managing, and growing your LLC.
Starting your LLC is a huge step—congratulations! But let’s be real: the paperwork doesn’t stop once you’ve got that shiny new LLC certificate in hand. Setting yourself up for long-term success means taking a few important steps right out of the gate. Here are three essential to-dos to tackle after you form your LLC. 1. File Your Business Ownership Information
Starting your own business is an exciting endeavor, and one of the first decisions you’ll need to make is choosing the right business structure. One popular option for many small businesses is the Limited Liability Company (LLC). An LLC combines the benefits of a sole proprietorship/partnership with the liability protection of a corporation. In this guide, we’ll walk you through
Par value is a financial term that refers to the minimum price at which a company can issue its shares. It is a legal requirement for most companies to have a par value for their shares. The par value of a share is usually a small fraction of its actual market value, and it does not reflect the actual worth
If you’re a small business owner, you may have heard of the term “S-Corp.” But what exactly is an S-Corp, and how does it differ from other business entities? An S-Corp is a type of corporation that is treated as a pass-through entity for tax purposes. This means that the corporation’s profits, losses, and deductions are passed through to the
When starting a new business, one of the biggest decisions you’ll have to make is choosing the legal structure for your company. Two of the most popular options are the limited liability company (LLC) and the corporation. While both structures offer liability protection and tax benefits, there are some key differences to consider. Liability Protection One of the main benefits
