Blogs

Business and Financial Services

Yes, Virginia, You Do Have to Respond to That Civil Investigative Demand

Receiving a Civil Investigative Demand (“CID”) from the Office of the Virginia Attorney General can be a jarring experience. Whether you are the target of an investigation or an innocent third party, receiving a CID can leave you feeling uncertain about your next steps. But let’s be clear: a CID is not something you can…

June 23, 2025

Business and Financial Services

What’s New in HUBZone? A 2025 Update on Program Changes and Compliance

In early 2022, we outlined the requirements for businesses seeking and maintaining HUBZone (Historically Underutilized Business Zone) certification. Since then, the Small Business Administration (SBA) has introduced a number of key regulatory changes and policy updates that materially affect HUBZone participants. From revised maps to clarified compliance standards, these changes are reshaping how small businesses…

June 23, 2025

Business and Financial Services

Building a Great Nonprofit Board: No Tourists, No Ghosts, No Dead Weight

There is a lot of mythology in the nonprofit world around what makes a great board of directors. Does it take prestige names or deep pockets? Some start by using friends or family. None of that matters if your board isn’t actively engaged, aligned on mission, vision, and values, and capable of respectfully challenging each…

June 9, 2025

Business and Financial Services

How to Stay Legally Compliant When Pivoting Your Restaurant

In recent years, the restaurant industry has undergone a dramatic transformation. Many restaurants, pressured by changing consumer habits, rising costs, and lingering effects of the pandemic, are turning to alternative service models such as ghost kitchens, catering operations, and delivery-only brands. These pivots offer growth opportunities, but they also introduce legal and compliance issues that…

June 6, 2025

Business and Financial Services

Aligning Business Succession Planning with Your Personal Estate Plan

Business owners invest significant time and resources into building their companies, yet many overlook the importance of a well-structured succession plan. Business succession planning is essential to ensuring the continuity of operations, protecting financial stability, and facilitating a seamless transition of ownership. A comprehensive succession plan should not exist in isolation, however. It must be…

April 23, 2025

Business and Financial Services

What DC Area Restaurant Owners Should Know Before Closing Their Doors: Legal Considerations Amid Lease and Business Challenges

A recent survey by the Restaurant Association of Metropolitan Washington revealed that 29% of respondents are at least somewhat likely to close their restaurants in 2025. That number rises to 44% for full-service casual establishments. [1] For many DC area restaurant owners, already grappling with high operational costs, staffing shortages, and shifting consumer habits, this…

April 15, 2025

Business and Financial Services

CTA Update (March 26, 2025): FinCEN Proposes to Relieve Reporting Companies from BOI Reporting Requirements Under the CTA

On March 26, 2025, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) published in the Federal Register an interim final rule that proposes to substantially narrow the existing beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA) to “require only entities previously defined as ‘foreign reporting companies’ to file a BOI report.…

April 3, 2025

Business and Financial Services

Series LLCs: Just Don’t Do It

Business owners often seek ways to structure their companies efficiently while protecting assets and limiting liability. One option that has gained attention in recent years is the Series LLC, a unique entity structure that allows for multiple “series” or compartments under a single LLC umbrella. Each series is intended to operate independently, with its own…

March 28, 2025

Business and Financial Services

CTA Update (March 2, 2025): Treasury Department Posts on X that CTA Filing Requirements No Longer Apply to U.S. Businesses

Many of us were looking for some additional clarity regarding the Corporate Transparency Act (CTA) in the wake of FinCEN’s February 28, 2025, Notice. We may have finally received that when the Treasury Department’s announced in posts on X on March 2, 2025, that it will not enforce any penalties or fines associated with the…

March 5, 2025

Business and Financial Services

Another Day, Another CTA Update: FinCEN Extends BOIR Deadline

Those following this blog will recall that FinCEN just announced ten days ago that Beneficial Ownership Information reporting (BOIR) requirements under the Corporate Transparency Act (CTA) were once again back in effect with the decision of U.S. District Court for the Eastern District Court of Texas, in Smith, et al. v. U.S. Department of the Treasury,…

February 28, 2025