What Do the CTA, BOI and FinCEN Mean to Glastonbury, CT Business Owners?
The Corporate Transparency Act may require certain U.S. companies to disclose beneficial ownership information to FinCEN to combat financial crimes. While a Texas federal district court’s preliminary injunction puts this requirement on hold, many experts expect that to be overturned. In that event, failure to file could lead to fines of $500 per day, up to a maximum of $10,000, and possible criminal penalties. However, filing your Beneficial Ownership Information (BOI) report will help you avoid fines
Unseen Business Costs Every Entrepreneur Should Understand
The entrepreneurial journey merges the excitement of creating something new with the complexities of managing finances. Entrepreneurs quickly learn that success involves much more than just innovative ideas; it also demands a keen awareness of often-overlooked costs. As tempting as the prospect of success is, there are hidden expenses that can disrupt momentum if they’re not addressed early on. This insight reveals those overlooked financial pitfalls, helping entrepreneurs stay grounded as they build.
