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Business Structure Starting a brand-new business can be both exciting and challenging. One of the decisions an entrepreneur ought to make is choosing the right business structure. This decision not only can impact your tax obligations. But it can also influence the effects in your liabilities and the overall management of your business. It additionally can also play a huge role, in safeguarding your own business. This is why understanding the business structures is essential as it allows you to

The Corporate Transparency Act is a law that has been developed to increase transparency inside the business world. This Act requires that companies disclose information about their beneficial owners, who are individuals with huge control or ownership in the company. In order to prevent issues, this Act would help give a clearer understanding on who is reporting. In order to clarify reporting rules, FinCEN has provided a published guideline on beneficial owners, potential fines, and reporting requirements. Those who are

On January 1, 2021, Congress enacted the Corporate Transparency Act (CTA). As the CTA’s reporting mandate–which begins on January 1, 2024–gets closer, business owners need to be aware of this new law and the broad, ongoing implications it will have for their organizations. The CTA requires the Financial Crimes Enforcement Network (FinCEN), a division of the U.S. Department of Treasury, to establish a national database of beneficial ownership information (BOI) for nearly every business organization in America. The law primarily

Starting or expanding a business is an exciting journey filled with countless decisions, but perhaps one of the most crucial choices entrepreneurs face is selecting the right business structure, such as “Which Business Structure is Best for Tax Purposes.” Your legal framework not only impacts how your business operates, but it also has important tax implications. A basic understanding of the tax features of different business structures can save much-needed capital, improve your financial stability, and enhance your likelihood of

Whether you are a real estate investor or business owner, if you have assets, they are worth protecting. You owe it to yourself and your beneficiaries to implement an asset protection plan that will safeguard your assets in the event that something goes wrong. When considering how to best protect your assets, you should be aware of some of the most popular asset protection planning tools available to you. Cardon Law is a Pleasant Grove real estate and business law