Secretarily Yours

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Warning: Be on the lookout for service providers that will register your Beneficial Ownership Information (BOI) for a fee.

Self-registration through FinCen.gov is no cost. It is one-time enrollment until there are owner/corporate officer changes. Be clear on why you would:

Pay someone to perform this for your organization and
Be assured that privacy of the data is maintained.
It is a conscious choice to use a pay-for vendor that charges a significant fee. Using a vendor is not a mandatory requirement.

The Financial Crimes Enforcement Network (FinCEN) updated the FAQs on the Beneficial Ownership Information. To find out more about the reporting process, visit https://www.fincen.gov/boi

And we invite you to attend our free webinar on April 25, 2024, 1:00 PM. Advanced registration is required to receive the Zoom link.

Beneficial Ownership Information (BOI)

Free HISBDC webinar on April 25, 2024 with updated information by Ryan K. Hew

REGISTER CTA-BOI Webinar
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Important Update: Navigating the New BOI Reporting Requirements

In light of recent legislative changes, you should stay informed about the Corporate Transparency Act (CTA) and how it impacts your business.

Effective January 1, 2024, the CTA mandates that most small and medium-sized businesses submit a Beneficial Ownership Information (BOI) report to FinCEN. Your business must likely comply despite a federal court ruling challenging its constitutionality for a specific group.

Why Should You Pay Attention?
The court ruling. A court found the CTA unconstitutional for two plaintiffs, but this doesn't exempt you unless you're directly involved. Compliance is expected for all others, with potential legal shifts ahead as the case proceeds through the courts.
Time-Sensitive Compliance. Existing businesses have until January 1, 2025, to file. Newly formed businesses in 2024 have a 90-day window post-formation. The landscape could change, but it's wise to prepare now.
New York's mandate. Regardless of federal rules, New York LLCs face state-specific BOI reporting laws. This dual layer of compliance underscores the complexity and importance of staying ahead.
For a deeper dive into these developments and their implications for businesses like yours, I highly recommend reading our latest article: BOI Reporting Unconstitutional for 65,000, but Likely Not You.


It's free. No obligation.

If you are not yet a subscriber, CLICK HERE. (https://email.bradfordtaxinstitute.com/t?r=6206&c=6555&l=11&ctl=CDD3:5D839DA562C414BA9373D0FF21D9AD5C9B3ECD4CF7DCB622&) You’ll get a no-obligation 7-day FREE trial during which you can read, not only the article I mentioned above, but all of our helpful tax-saving tips. This trial is absolutely free and there are no strings attached. That’s a personal promise.

If you're already a subscriber to the Tax Reduction Letter you’ll be prompted to log in when you CLICK HERE. https://email.bradfordtaxinstitute.com/t?r=6206&c=6555&l=11&ctl=CDD2:5D839DA562C414BA9373D0FF21D9AD5C9B3ECD4CF7DCB622&

Sincerely,

W. Murray Bradford, CPA
Publisher
Tax Reduction Letter

Small Businesses Invited to Mayor’s Town Halls

Mayor Rick Blangiardi is resuming his town hall meetings across Oʻahu to gain insight into the needs and aspirations of our communities.

Small businesses are welcome to attend to share their thoughts and questions with the Mayor and his leadership team.

The next two town halls will be:

Thursday, March 28, at 6:30 p.m. at Kailua Intermediate School.

Thursday, April 4, at Salt Lake District Park.

Download the Full Town Hall Schedule

revitalizeoahu.us2.list-manage.com

Tax Reduction Letter - One Ugly Rule for Owners of S Corporations Deducting Health Insurance One Ugly Rule for Owners of S Corporations Deducting Health Insurance