Businesses & Corporations

Wednesday, August 7, 2024

CTA + BOI: Does my company qualify for the "Inactive Entity" Exemption??

Do I have to file a BOI report if I'm not transacting business?  The Ins + Outs of Exemption #23, the “Inactive Entity” Exemption... 
The Good News:  If your LLC qualifies as an “inactive entity,” you may be exempt from having the hassle of submitting a “Beneficial Ownership Information” (BOI) Report to FinCEN.  
The Bad News:  In our experience, most dormant / unused companies don't actually qualify as "Inactive" under the CTA rules... 
Read on for 6 questions to figure out whether your company qualifies as "inactive" in this week's blog...

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Thursday, July 25, 2024

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!


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Tuesday, January 2, 2024

📌 PB Law's Guide to the Corporate Transparency Act - CTA + BOI Reporting

Check out this week's blog to find out what you need to know - now - about the Corporate Transparency Act ("CTA"), which is estimated to impact over 30 million - mostly small + mid-size - businesses.
This new federal law likely affects you if: 
  • Are a business owner;
  • Have beneficial ownership in a business (individually, or thru another company or trust); 
  • Have substantial control over a business 
The failure to comply with the CTA is not to be taken lightly, with steep fines ($500/day + $10,000 for criminal fines), plus a possibility of two years in jail! 
Read on for a link to our comprehensive guide to the CTA + BOI Reporting, to see if you're impacted  + what you need to do... 

Read more . . .


Wednesday, October 5, 2022

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...


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Friday, March 27, 2020

What the $2T Coronavirus Aid Package Could Mean for U.S. Small Businesses

On Friday, the president signed into law a coronavirus relief package that should help many small businesses reeling from coronavirus shutdowns and slowdowns

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Monday, March 23, 2020

Tax Update- 90-Day Reprieve on Income Tax Filings & Payments + PB Law Tax Cheat Sheets! (2020)

Federal Tax Deadline moved to July 15th... To help, Tiffany has  prepared two tax “cheat sheets” one for personal federal filings and geared to small businesses owners...

Read more . . .


Monday, March 16, 2020

Phillips Ballenger's Action Plan in Response to COVID-19

We write to you today to update you with Phillip Ballenger’s action plan in light of the escalating spread of the novel Coronavirus.  This post includes important updates for our clients as it relates to our ongoing business operations, important Court updates, and fact-based resources. 
We will continue to send further information on our procedures as this develops, all of which will also be posted on our blog, so please check back for updates. 

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Monday, March 16, 2020

Coronavirus Legal Advice: Get Your Business and Estate in Order Now (via Kiplinger)

Link to a timely Kiplinger article by article by H. Dennis Beaver on legal advice related to the Coronavirus situation...


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Sunday, March 15, 2020

Kiva's Message to Small Business Owners in the U.S.

Kiva lenders have shown their commitment to providing financial assistance to all by making 0% interest loans to U.S. entrepreneurs...

Read more . . .


Friday, October 11, 2019

Student Loan Debt: The Albatross of the Average College Student

Student loans have become a necessary evil for many college students.  The increase of college tuition along with the rise of college attendance creates the perfect storm for more student loan debt. 
Why is this happening and why is the term, "crisis" used when discussing the issues involving student loans?

Read more . . .


Thursday, August 29, 2019

This Labor Day, Think Like a Boss...

A recent report found that the US now has 27 Million Entrepreneurs!  
Which raises the question: Why are there so many individuals wanting to go into business for themselves when it would be far ‘easier’ to be employed?
As an entrepreneur myself, I can honestly say that it’s not just a personality type or functional reason, but also very much a trend to no longer follow in the footsteps of their forefathers as classic employees, regardless of the benefits...

Read more . . .


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