EP13 | FinCEN Beneficial Owner Information (BOI) Reporting Requirement and How to Avoid $500 Fines Per Day!

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Beyond the Receipts (Small Business Tax & Finances)

Hope Brown, The Tax Minded Bookkeeper

28 episodes

1 week ago

So you've always wanted to be an entrepreneur, but no one told you that tax and bookkeeping were going to be part of running your own business. Well, fear not. I'm Hope Brown, and this is Beyond the Receipts, a podcast for small business owners who are in the early stages of building their business but need a little help with the financial part. We'll be breaking down financial topics like taxes, bookkeeping, and more, in plain English so that you can learn what you need to run your business and stay compliant. So are you ready? Stay tuned!

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Entrepreneurship

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EP13 | FinCEN Beneficial Owner Information (BOI) Reporting Requirement and How to Avoid $500 Fines Per Day!

Beyond the Receipts (Small Business Tax & Finances)

12 minutes 11 seconds

1 year ago

EP13 | FinCEN Beneficial Owner Information (BOI) Reporting Requirement and How to Avoid $500 Fines Per Day!

Dive into the latest episode of Beyond the Receipt that unravels the pivotal shifts in business regulations! Come 2024, LLCs and various entities are poised for a transformative change: they must now unveil crucial beneficial ownership information details to FinCEN. But here's the catch: overlooking this mandate could fetch hefty fines, soaring up to $500 daily, or even lead to unforeseen legal repercussions. This is an episode you don’t want to miss as you embark on another year in business, or if you’re planning to start one.

Links:

Follow The Tax Minded Bookkeeper on Instagram: https://www.instagram.com/taxmindedbookkeeper/
Follow The Tax Minded Bookkeeper on Facebook: https://www.facebook.com/bbizsolution
Check out the website: https://bbizsolution.com/
Tax Resources & Free Downloads: https://bbizsolution.com/resources
The Tax Minded Bookkeeper CEO Tax & Bookkeeping Membership: https://bbizsolution.com/membership
Visit the FinCEN website: https://www.fincen.gov/