As you prepare to dive into your goal and budget planning for 2024, remember that legal planning isn't just a sideline item on your to-do list – it's a strategic cornerstone for your business's success. In a world where entrepreneurship moves at lightning speed, failing to plan can indeed be planning to fail. So, as you chart your course for the year ahead, make sure legal planning is firmly integrated into your annual strategy. It's not just about avoiding problems; it's about proactively seizing opportunities, aligning with your goals, ensuring compliance, and securing your business's long-term sustainability. Embrace legal planning as a key ingredient for your business's growth and protection in 2024.
The Corporate Transparency Act (CTA) is a federal law enacted as part of the Anti-Money Laundering Act of 2020 meant to reduce financial crime in small businesses across the United States. Specifically, the CTA requires that smaller, otherwise unregulated, companies file a report with the US Department of Treasury’s Financial Crimes Enforcement Network within their new Beneficial Ownership Secure System (BOSS), which the network may share with other government agencies and financial institutions who request it. The Act will come into effect on January 1st, 2024, for newly formed companies and on January 1st, 2025, for already existing companies.
Over the years, companies both large and small — from FedEx and Microsoft to the local gym — have found themselves in deep water due to the misclassification of contractors. They use contractors as “part-time” or “overflow” workers, and those workers don’t meet the criteria to be classified as contractors. This past year, Google has... View Article
Regardless of how careful we are, conflicts arise in business. Conflicts among owners, among employees, and with vendors and customers are common. Generally speaking, we try to resolve these conflicts quickly with minimal risk and cost but sometimes they spiral out of control. As a business owner, it’s essential that you know what tools are... View Article
