Year: 2024
On December 12, 2024, President Biden signed the Federal Disaster Tax Relief Act of 2023 into law, bringing good news to taxpayers who have suffered losses due to natural disasters. Here’s what you need to know about these changes and how they could impact your tax filings. Changes to Disaster...
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It’s inevitable. Sooner or later, you will part ways with this business. The one you’ve poured your heart and soul into — maybe even built from the ground up. When looking ahead to what’s next, you might have more questions than answers. What’s the best business exit strategy? Who will...
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On December 3, 2024, the United States District Court for the Eastern District of Texas issued a preliminary injunction against the Corporate Transparency Act (CTA) and its reporting rules. The judge ruled that the CTA likely constitutes an unconstitutional overreach by Congress. Consequently, the upcoming compliance deadline has been delayed...
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As we approach January 2025, a significant change is coming to Minnesota’s retail landscape. In May 2024, Governor Tim Walz signed a bill eliminating so-called “junk fees” from transactions. This legislation marks a vital step toward greater consumer pricing transparency and has important implications for businesses. Here’s what you need...
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The Corporate Transparency Act from 2021 (CTA) created new reporting requirements that will impact many businesses. Certain companies will need to disclose their beneficial owners through filings with the Financial Crimes Enforcement Network (FinCEN) beginning on January 1, 2024. The report will be filed through FinCEN’s website (https://www.fincen.gov/boi). Who is...
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