Owners of LLCs and corporations, if not exempt, must timely complete Beneficial Ownership Information (BOI) reporting with FinCEN (my blog explains this reporting). Certain parties, such as financial institutions, can gain access to this information under the BOI Access Rule. If you want to comment on these rules, you have until August 22, 2024. Note: There are bills in Congress now that would repeal the Corporate Transparency Act which created BOI reporting, so monitor developments. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."
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It's important to take care of ourselves and take steps to nourish ourselves--body, mind and soul. We may have to do this in different and creative ways now that many of us are staying at home. It's still important that we take time for ourselves. #selfcare #Health