Askin & Hooker, LLC

If you have been keeping up with the CTA Beneficial Ownership Information filing saga, you may have heard that the Financial Crimes Enforcement Network recently announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update BOI reports by the current deadlines. They also indicated that a forthcoming interim rule will become effective, which may limit the scope of who has to report and set new deadlines. While we will continue to monitor the status and send e-mail updates as information is released, please be aware that there is still a current filing requirement deadline in place. ?? Filing Deadline: March 21, 2025 ?? Who is Affected? Most entities, including LLCs and corporations To ensure that you are in compliance with your federal filing requirements and meet the filing deadlines, contact Nicole Verrilli at Askin & Hooker today.

???CTA Beneficial Ownership Reporting Deadline Update??? After multiple court decisions and appeals,?the CTA Beneficial Ownership reporting requirements are officially back in effect. For most entities, the new deadline is now?March 21, 2025. ?? Don’t risk unnecessary?late fees or penalties ?? Ensure your?federal filing compliance ?? Act now to avoid last-minute complications Is your business prepared??Contact?Nicole Verrilli at Askin & Hooker?today to make sure you meet your filing requirements. ?? Learn more and get the details here:?https://lnkd.in/e65d8eaD #CorporateCompliance #CTACompliance #LegalUpdate #BusinessLaw #AskinAndHooker

UPDATE! The filing requirements of the Financial Crimes Enforcement Network (FinCEN) and its Corporate Transparency Act (“CTA”) have been the subject of several litigations. The CTA requires filing Beneficial Ownership Information (“BOI”), which means that all entities subject to the CTA must file and identify their beneficial owner reports. This act has been the subject of litigation and several decisions throughout December 2024.? The litigation is ongoing, but two recent and conflicting January decisions have left this act in limbo.? This act remains in the Appellate Court, which is set to hear the merits of the CTA on an expedited schedule. As of now, the BOI filing requirement remains voluntary. However, given the competing decisions concerning this act, it is likely that the filing requirement may become effective again. If it does, there may only?be a short filing deadline extension, which may not leave owners much time to file.? We will keep you updated on the status but urge you to consult us without delay so you are not caught unprepared if the BOI filing requirement becomes effective again.?Contact Nicole Verrilli at Askin & Hooker to guarantee you comply with your federal filing requirement. https://lnkd.in/e65d8eaD

???Essential Contracts Every New Jersey Business Needs??? Contracts are the backbone of any successful business. Whether you're a startup, small business, or established company,?having the right legal agreements in place can protect your business from disputes, financial losses, and liability. Must-Have Contracts for Your Business: ??Operating Agreement?– Defines roles & responsibilities in LLCs ??Employment Contracts?– Clarifies expectations for employees ??Non-Disclosure Agreement (NDA)?– Protects sensitive business information ??Service Agreements?– Outlines terms with clients/customers ??Vendor Contracts?– Ensures clear terms with suppliers & partners Without proper contracts, your business is vulnerable to?legal risks and costly disputes. ?? Don't leave it to chance! Read the full guide here:?https://lnkd.in/eEy2GM8r ?? What contract has been the most valuable for your business? Share your thoughts in the comments!

???Partnership Disputes: How to Resolve Conflicts and Protect Your Business No one starts a business expecting conflict, but?partnership disputes?happen—even among the best teams. Whether it’s disagreements over finances, responsibilities, or business direction, unresolved conflicts can threaten your company’s future. So, how can you?prevent and resolve disputes?effectively? ???Have a clear partnership agreement??? – Define roles, decision-making authority, and exit strategies upfront. ???Prioritize open communication??? – Address issues early before they escalate. ???Consider mediation or legal guidance??? – A neutral third party can help find fair solutions. Read more insights here:?https://lnkd.in/eKSX-Xg2 ?? Have you faced a business partnership challenge? How did you handle it? Share your experience in the comments!

???Corporate Governance: Why It Matters for Your Business??? Strong corporate governance isn’t just for large corporations—it’s essential for businesses of all sizes. Whether you're leading a startup, managing an LLC, or running a well-established company, clear governance structures can help protect your business, enhance decision-making, and build stakeholder trust. ??Why it matters: ?? Ensures compliance with laws & regulations ?? ?? Defines leadership roles & responsibilities ??? ?? Reduces risk & enhances financial stability ?? ?? Builds credibility with investors & partners ?? Read about the key principles of corporate governance and why they are?critical for long-term success. https://lnkd.in/eqpR6g57 ?? What governance policies have you implemented in your business? Share your thoughts in the comments!

???Starting a Business in New Jersey? Here's How to Form an LLC or Corporation!??? If you're an entrepreneur or small business owner in New Jersey, choosing the right business structure is a critical step. Should you form an?LLC or a Corporation? ?? Each has different legal protections, tax benefits, and operational requirements. ??LLCs?offer flexibility and protection, ideal for small businesses. ??Corporations?provide strong liability protection and investor appeal. From?registering with the NJ Division of Revenue?to?obtaining an EIN, the process can feel overwhelming. But it doesn’t have to be! ?? We break down the entire process in a simple, step-by-step guide. If you're ready to protect your business and set it up for success, check out these expert insights here:?https://lnkd.in/ezJmGmSV ?? Have you recently formed an LLC or Corporation in NJ? What was your biggest challenge? Share your thoughts in the comments! ??

?? Do you have a plan in place for your assets, healthcare decisions, and loved ones? If not, now is the time to start. Estate planning isn’t just about wealth—it’s about ensuring your wishes are legally protected and your family is prepared for the future. A well-crafted plan includes: ? Wills & Trusts ? Power of Attorney ? Healthcare Directives ? Probate & Asset Protection Strategies At Askin & Hooker, we guide New Jersey residents through the complexities of estate planning, helping them make informed decisions that safeguard their legacy. ?? Read our comprehensive guide: https://lnkd.in/eNqWdXNJ What’s one estate planning concern you’ve been meaning to address? Let’s discuss in the comments. ?? #EstatePlanning #WealthProtection #NewJerseyLaw #AskinAndHooker

?? Avoid costly legal mistakes—ensure your business is built on a solid legal foundation. Whether launching a startup, managing contracts, or ensuring regulatory compliance, having the proper legal guidance is essential for long-term success. Askin & Hooker’s essential legal services for New Jersey businesses help entrepreneurs and business owners navigate key areas such as: ? Business formation & structuring ? Contract drafting & negotiations ? Compliance & risk management ? Dispute resolution & litigation Don’t wait until legal issues arise—set your business up for success today. Learn more: https://lnkd.in/e8NeVz96 What legal considerations have been most challenging for your business? Let’s discuss in the comments. ?? #BusinessLaw #NewJerseyBusiness #AskinAndHooker #Entrepreneurship

Navigating the Corporate Transparency Act (CTA): Stay Informed! The CTA requires businesses to disclose their beneficial owners, but recent legal challenges have created confusion. Here's what you need to know: December 3: Filing requirement paused. December 23: Pause lifted by Fifth Circuit Court. December 26: Pause reinstated, pending review. While the requirement is on hold, don’t wait! If the stay is lifted, deadlines may be short. ?? Contact Nicole Verrilli, Esq. today to ensure your business is prepared. Avoid penalties—let us guide you through the process. #CorporateTransparencyAct #BusinessCompliance #BusinessLaw