Today is the end of the third quarter of 2023. For the federal government, it’s the start of its 2024 fiscal year. For small businesses, it’s the time to start planning for Q1 2024. Start developing a budget, factoring in continued inflation. For example, it’s projected that compensation for U.S. employees will rise on average by 3.8% in 2024. Get your health coverage and employee benefits lined up. Continue to monitor economic indicators for signs of a recession so you can respond promptly. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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BOI reporting cont'd. But this isn’t the end of the story. The government filed a notice of appeal with the appellate court, and FinCEN says “deadline stay—voluntary submission only” (https://bit.ly/3ZpKxwU Note: There are cases challenging CTA that are still pending.