Inside Out Legal, LLC的动态

A new federal law went into effect and likely will affect many business entities in Wisconsin and the United States, and in particular, many small businesses that may not even be aware of the new law. The Corporate Transparency Act (CTA) was enacted on January 1, 2021, as part of the Anti-Money Laundering Act of... Continue Reading #wisconsinlawyer #wisconsinlaw #wislawnow

FYI – (BOI) Beneficial Owner Information Statements deadline was YESTERDAY, Jan 13, 2025* The Corporate Transparency Act encourages businesses to file Beneficial Ownership Information (BOI) reports with FinCEN. While the January 13, 2025, deadline is the last publicly stated filing date, the legal requirement is currently under review. As we have learned, enforcement changes quickly, leaving businesses relying on a potentially tight and uncertain grace period. Filing your BOI report today demonstrates good faith, peace of mind, and compliance, helping your business avoid potential risks if the filing requirement is upheld. Non-compliance could result in significant penalties, including fines of up to $591 per day and even criminal charges. File Today to Demonstrate Good Faith Compliance: www.FinCen.gov/BOI If you need assistance, our team is available to discuss and/or help. The Schlichting Group 5580 Peterson Lane, Ste 100 Dallas, TX 75240 972-385-8182

Struggling to understand if the #Corporate #Transparency Act and #BOI reporting apply to your business? We break down key court decisions, deadlines, and what you need to do to stay compliant. https://lnkd.in/gCM2ww9d

New Beneficial Ownership Reporting Requirements: Are You Compliant? The Corporate Transparency Act (CTA) is transforming the corporate realm, compelling businesses to divulge beneficial ownership details to FinCEN. Enacted by Congress in 2021, this mandates both domestic and foreign companies to provide extensive data about their owners and company applicants. Non-compliance with the CTA carries severe consequences, such as substantial fines and possible incarceration. Ensuring your business adheres to these new regulations is paramount. #BeneficialOwnership #Compliance #CorporateTransparency #CTA #FinCEN #Regulations

*Update - As of 12/3/24, the CTA and reporting requirements have been enjoined nationwide by a TX Court pending the outcome of litigation. Per FinCEN, reporting of beneficial owner information is currently voluntary.* Attention Small Business Owners and Real Estate Investors: The Corporate Transparency Act is now in effect, bringing new reporting requirements that could impact your business. Likewise, a similar law, the New York LLC Transparency Act will be in effect in 2026. These laws require disclosure of the individuals who own and control businesses, including LLCs and real estate holding companies. Understanding these changes is crucial to staying compliant. Learn how these laws could impact your businesses including 1031 exchange transactions and more. Stay informed, protect your business and read our article below. #1031exchange #corporate #CorporateTransparencyAct #cta #realestate

??BOI Report Update?? Business Owners In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports. More information is available on our website (https://www.fincen.gov/boi). #BOIReporting #business #businessowner #smallbusinesssupportingsmallbusiness #report #FinCEN #FinancialPlanning

The Alert linked below has been updated to reflect the latest legal developments with regard to the constitutionality and enforcement of the Corporate Transparency Act (CTA). Stay tuned for further updates, but for now FinCEN has indicated that reporting companies are not currently required to file beneficial ownership information and are not subject to liability if they fail to do so?until the pending litigation has been resolved. #CTA #BOIreporting #FinCEN

To all my fellow small business owners, The Corporate Transparency Act filling is due by January 1, 2025. You must report by 12/31/2024. The Corporate Transparency Act (CTA) is?a federal law that requires certain entities to report information about their owners and controllers to the Financial Crimes Enforcement Network (FinCEN) of the United States Department of the Treasury.?The CTA's purpose is to help prevent money laundering, terrorist financing, corruption, and tax fraud. It takes about 15 minutes and you’ll need basic information on your entity including EIN#. Easy to do. If you can’t do it now, I suggest you place it in your calendar to do as this is important. Civil penalties are $591 per day. Criminal penalties are a $10, 000 fine, two years imprisonment, or both. To file your report, click here: https://fincen.gov/boi

Did you know that Limited Liability Protection shields owners from legal claims? One of the greatest advantages of forming a Limited Liability Company (LLC) is its robust protection against legal claims. But what does this really mean for business owners? Limited liability protection ensures that the personal assets of the LLC's owners (members) are safeguarded from the company’s debts and legal obligations. This means that if the company faces a lawsuit, only the company's assets are at risk—not the personal assets of the owners. Why does this matter? ?? Asset Protection: Your personal wealth remains secure, even if your business faces significant legal challenges. ??Business Continuity: You can focus on running and growing your business without the fear of personal financial loss due to business liabilities. ??Encourages Risk-Taking: Knowing that your personal assets are protected, you're more likely to pursue innovative and bold business strategies. ?? While LLCs provide significant protection, it's crucial to understand that they do not shield businesses from the consequences of fraud or illegal activities. However, for industries with higher inherent risks, entrepreneurs can greatly benefit from the protection that an LLC offers against legitimate business-related legal claims. --- Hi! We are St. Vincent Trust & Escrow We provide insights on: ? Offshore Financial Services in SVG ? Asset Protection and Wealth Management Strategies ? Opportunities for Business Incorporation and Growth in SVG ?? Follow us! ?? Repost and join us in spreading the benefits of SVG's offshore services. #llcformation #saintvincentandthegrenadines #offshorecompany

The requirement to file Beneficial Ownership Information (BOI) Reports under the Corporate Transparency Act (CTA) has been temporarily paused. A nationwide injunction has ruled the law unconstitutional, putting the January 1, 2025, deadline on hold. The Corporate Transparency Act required businesses to report key details about ownership and control, but exemptions applied to certain large or regulated entities. Lanak & Hanna is keeping a close eye on this development. Stay tuned for updates as the situation evolves! https://loom.ly/6GgT1LA