Blogs

Business and Financial Services

GovCon M&A Update: How New SBA Final Rule’s Ticking Clock and Other Changes May Reset the Market for Small Business Contractors

After issuing proposed regulations earlier this year and soliciting extensive public comment, the U.S. Small Business Administration (SBA) issued a final rule on December 17, 2024 introducing significant changes to certain of the regulations applicable to small business contractors planning for or actively pursuing merger and acquisition (M&A) transactions. Set to take effect on January…

January 14, 2025

Business and Financial Services

UPDATE – 12/31/24 Wait…Forget “Never Mind”…The Fifth Circuit Vacates its Stay of its CTA Preliminary Injunction, Puts CTA Reporting Requirements on Hold

On December 26, 2024, the on-again, off-again saga of the reporting requirements for most small business owners under the Corporate Transparency Act (CTA) took another twist when the U.S. Court of Appeals for the Fifth Circuit decided to completely reverse direction. The Fifth Circuit vacated its December 23, 2024, Order that blocked the trial court’s…

December 31, 2024

Business and Financial Services

UPDATE – 12/27/24 Never Mind…CTA Reporting Requirements are Back Again!

We have written regularly on the requirements of most business owners, subject to limited exceptions, to file disclosure documentation as required by the Corporate Transparency Act. We also updated you with the news that a Texas District Court had entered a nationwide injunction blocking the act on December 3, 2024. Now the latest…never mind, the…

December 27, 2024

Business and Financial Services

LLC Ownership Structures Explained

Choosing the right ownership structure for your Limited Liability Company (LLC) can have a significant impact on how your business operates, its tax obligations, and its growth potential. LLCs are known for their flexibility compared to other business structures, which is why they’re popular among entrepreneurs and established business owners alike. But with this flexibility…

December 27, 2024

Business and Financial Services

Corporate Transparency Act is Blocked by Texas Federal Court

UPDATE – 12/10/24 After initial publication and contrary to the information below, FinCEN has now updated their website indicating reporting companies were not required to file at this time and that entities will not be subject to liability for failure to report during the injunction. The relevant section states: While this litigation is ongoing, FinCEN…

December 5, 2024

Business and Financial Services

The Corporate Transparency Act is Still Alive and Community Associations May Need to File

As we have previously discussed, despite some pieces of litigation challenging the Corporate Transparency Act (CTA), the CTA is still in place for now and companies and organizations need to grapple with compliance. The CTA reporting requirements may be on the chopping block for the incoming Trump administration, but for now they are still in…

November 11, 2024

Business and Financial Services

Corporate Transparency Act Reporting Deadlines Are Here!

With the passage of the Corporate Transparency Act (CTA), there are a ton of questions. Most companies must file a Beneficial Owner Information Report (BOIR). Here are some of the main points: When do I need to file my BOIR? For companies formed prior to 1/1/2024, the deadline for filing the BOIR is 12/31/24. As…

October 16, 2024

Business and Financial Services

Phantom Stock Plans for LLCs

Attracting and retaining top talent often requires innovative compensation strategies. Multi-member LLCs are flexible but can also be complex. Founders and executives often wish to reward high-performing employees with upside value tied to the success of the company, but avoid the complexity of adding additional members to the LLC Operating Agreement. One such strategy is…

October 9, 2024

Business and Financial Services

Business Owners: Yes You Still Need to Disclose Who Owns Your Company

Reminder that ALL “Reporting Companies” must file their Beneficial Owner Information Report (“BOIR”) by 12/31/24. The Corporate Transparency Act (“CTA”) is a broad new law requiring filing a BOIR with FinCen for many different Reporting Companies. There are harsh criminal and civil penalties for failure to comply. The civil penalties are potentially $591/day up to…

October 8, 2024

Business and Financial Services

Operational and Logistical Considerations in a Business Divorce

Navigating the operational and logistical challenges of a business divorce can be as complex as the legal and financial aspects. Properly managing these elements is crucial to ensure a smooth transition and maintain business continuity. This fifth blog in our eight-part series delves into the key operational and logistical considerations you need to address during…

August 29, 2024