Eric Joern
1 min read
DOL Rescinds 80/20 Rule
.png?width=30&name=HP%20profile%20(2).png){kind=small}
Heather Palermo : | March 06, 2019
The U.s. department of labor recently issued an update bulletin rescinding prior guidance known as the "80/20 rule". Since 2009, this...
As we close Q1 we wanted to provide an update on this new reporting requirement as required by FINRA.
Recently, a federal district court in Alabama ruled that the Corporate Transparency Act is unconstitutional. While this could be a sign for the future of this act, this ruling only affects the involved plaintiffs – not all businesses that have this requirement. The Department of Justice has already appealed the decision.
What does this mean for me?
Our position on this program hasn’t changed. We still recommend that you wait until Q3 to address reporting requirements for entities established before January 1st, 2024. The filing deadline for those entities is 1/1/2025.
If you established a new entity this year, you have 90 days to file your report with FinCEN—so new businesses, don't delay.
What is BOI reporting?
Want a more in-depth look at BOI? We discussed BOI in detail in our blog Demystifying BOI: A Guide to Beneficial Ownership Information Reporting, as well as in this video.
At Kaizen, we are developing a soon-to-be-released program to help our clients with BOI reporting. If you're looking for help and guidance with accounting for your business, please click the 'Let's Chat' button below and let's see if we're a good fit for your business.
1 min read
Papers, Papers & More Papers, Oh My!
Heather Palermo : | December 02, 2015
Suggested Record Retention Guide for Businesses Isn’t it such a great feeling heading into the new year being prepared? All the clutter is cleaned...
3 min read
How to Grow Your Small Business Through Mergers and Acquisitions
Eric Joern : | August 29, 2022
As part of our continuing series on how to grow your small business the right way, today we look at mergers and acquisitions. Acquisitions can be a...