Let’s talk tariffs. Yep—those taxes on imported goods that made headlines a few years ago during the Trump administration. While they may sound like a topic reserved for economists and politicians, tariffs have had some very real, very tangible effects on everyday Americans—and could still be contributing to broader economic uncertainty today. Wait—Remind Me What…
Continue reading…Category: Entrepreneurs
Another Update on the BOI/CTA Fiasco…
Latest update as of March 3, 2025: On March 2, 2025, the US Treasury Department announced that not only will it not impose penalties or fines under the current regulatory deadlines, but it will also not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take…
Continue reading…Urgent Update – Corporate Transparency Act (CTA) Reporting Requirements BACK in EFFECT (for now…)
⚠️ CTA Reporting Rule Update – Legal Battle & New Deadlines! ⚠️ The Corporate Transparency Act (CTA) Beneficial Ownership Information (BOI) Reporting Rule is back in play, but the legal fight isn’t over. Here’s what business owners need to know: What Does This Mean? 📅 Key Dates to Watch: ⚖️ Potential Legislative Changes 🚨 Take Action: This situation is evolving—stay tuned for…
Continue reading…(Another) Update – The CTA Saga Continues…
This week brought further developments related to the legal challenge to the Corporate Transparency Act (“CTA”) and its Beneficial Ownership Information Report (“BOIR”) filing obligations. We understand how confusing and frustrating this back-and-forth can be for business owners and their advisors, and we’re committed to keeping you informed. Per FinCEN Alert, 01/02/2025: “In light of…
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CTA + BOI: Does my company qualify for the “Inactive Entity” Exemption??
At the beginning of the year, we discussed the new federal Corporate Transparency Act (“CTA”) that took effect on January 1st, 2024. (Check out that blog here!) In short, many small businesses and its owners were impacted and are required to submit Beneficial Ownership Information (“BOI”) reports. Noncompliance with the CTA may result in steep fines ($500/day + $10,000 for criminal fines), plus a…
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Recent Supreme Court Decision Changes the Game for Small Business Succession Plans…
Has your small business purchased life insurance on its owners as a succession strategy? It may be time to check the company’s buy-sell agreements and plan next steps with your advisors to avoid unexpected estate taxes! A common succession strategy for small closely-held businesses is for the company to buy life insurance policies on the life of…
Continue reading…PB Law’s Guide to the Corporate Transparency Act – CTA + BOI Reporting
The Corporate Transparency Act (“CTA”) took effect on January 1st, 2024. This new federal law likely affects you if: ❓ Not sure if this applies to you? Don’t know where to start? ❓ Check out PB Law’s Guide to the CTA + BOI to see if you’re impacted + what you need to do! 🚩👇 PB…
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NEW SERIES! Are your gifts causing more harm than good? When generosity backfires…
As an estate planner, I deal with lots of generous, kind folks with very big hearts (and sometimes, big wallets to match). That’s not always the case- sometimes clients have a more modest estate that belies their generous spirits. In this series, I’m offering a weekly Q&A to outlines some mistakes I’ve seen my generous clients…
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PB Law Weekly Round Up! | What to Do (Today!) to Sell Your Business “Someday”…
Even if you’re nowhere close to thinking about retirement, there are things you can implement in your business right now to prepare for way down the road… * Bonus- for Law Firm Owners: building your firm with a goal to sell it someday
Continue reading…What the $2T Coronavirus Aid Package Could Mean for U.S. Small Businesses
Great breakdown on the details of the stimulus package for Small Businesses! Link to Post