Since I know there are s-corp and LLC owners on this forum, be aware of the new BOI reporting requirements. Most existing corps and LLCs have another year before they need to comply but corps or LLCs created in 2024 will have 90 days to comply. Penalties are steep.
There are various exemptions but my understanding is many small businesses or rental property owners using an entity for tax or legal purposes will likely need to comply.
https://www.fincen.gov/boi-faqs
There are various exemptions but my understanding is many small businesses or rental property owners using an entity for tax or legal purposes will likely need to comply.
https://www.fincen.gov/boi-faqs
Statistics: Posted by SWYK — Fri Dec 22, 2023 12:41 am — Replies 0 — Views 17