Beneficial Ownership Reporting (BOI) requirements have changed again. This time the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule. Per FinCen’s website the ruling is as follows: In that interim final rule, FinCEN revises the definition of “reporting company” in its implementing regulations to mean only those entities that are formed under the […]
Archives for March 2025
To Pivot or Not to Pivot?
Should you pivot your business and what exactly is a pivot? There are right ways and wrong ways to pivot. Pivot Defined A pivot is a change in the direction of your business. It can relate to the type of services you offer, clients/customers served, your role, and the overall business model. Right Way to […]
Easy IRS Red Flag to Avoid
The last thing anyone wants is to be audited by the IRS. One simple way to avoid waving a red flag at the IRS is to be aware of this . . . Information Matching The IRS receives a significant number of informational returns from businesses that are required to report payments they made to […]
Personal Financial Planning for Business Owners in 3 Steps
Financial planning for business owners differs from regular W-2 employees and should be handled differently. These are 3 steps business owners should take: Step 1: Plan for Volatile Earnings This is especially true if you operate a business that ebbs and flows with economic cycles, such as construction and real estate. However, company specific changes […]