What could be more fun on a Saturday morning than to think about upcoming tax/legal requirements for your business entity? Well, there's a root canal, bamboo slivers under the fingernails, sticking your head in a blender... perhaps I exaggerate. But yes, as of 1/1/24 most entities will have a new reporting requirement to "FinCen" (aka US Financial Crimes Enforcement Network - designed to prevent money laundering, etc.) Short version and this is a broad generality at this point - if your business is required to register with the secretary of state it will be required to register with "FinCen." How to register? Stay tuned or go to https://www.fincen.gov/boi. Forms aren't available yet but it's a good thing of which to be aware. And feel free to give me a shout - much to learn as this evolves but I'll be glad to help!
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