Updated as of March 27, 2025: The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an interim final rule that narrows reporting obligations under the Corporate Transparency Act (CTA). As of March 21, 2025, U.S. companies and U.S. persons are exempt from reporting beneficial ownership information (BOI) to FinCEN. Entities formed under […]

The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has extended the deadline for many small businesses to file beneficial ownership information (BOI) reports to January 13, 2025. This comes after a federal appeals court recently granted a motion to lift an injunction put in place by a district court ruling. How We Got Here Under […]

 Watch our interview with Partner Katie Deutschler as she discusses how a strong internal control environment can help protect your company’s future.

New beneficial ownership information (BOI) reporting requirements that many small businesses were required to comply with by January 1, 2025, have been suspended nationwide under a new court ruling. However, businesses can still voluntarily submit BOI reports, according to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). How we got here Under the Corporate Transparency […]

Many service organizations can become overwhelmed by the various security-related compliance requests from their customers. A service organization may consider adopting a new framework to maintain continued credibility, gain new market share or stem the volume of compliance-related requests. The good news is that many frameworks have overlapping control objectives and requirements. However, most service […]

A federal district court judge has struck down the Biden administration’s new rule regarding the salary threshold for determining whether certain employees are exempt from federal overtime pay requirements. The first phase of the rule took effect for most employers in July 2024 and affects executive, administrative and professional (EAP) employees. With a Republican administration […]

As the end of the year draws near, savvy taxpayers look for ways to reduce their tax bills. This year, the sense of urgency is higher for many because of some critical factors. Indeed, many of the Tax Cuts and Jobs Act provisions are set to expire at the end of 2025, absent congressional action. […]

President-Elect Donald Trump will return to the White House in 2025 — a year that already was expected to see significant activity on the federal tax front. A projected unified GOP Congress is poised to help him notch early legislative tax victories. The most obvious legislative win will likely be the extension and expansion of […]

The outcome of the November 5 election is likely to significantly impact taxes. Many provisions in President-elect Donald Trump’s signature tax legislation from his first time in the White House, the Tax Cuts and Jobs Act (TCJA), are scheduled to expire at the end of 2025. Now, there’s a better chance that most provisions will be […]

In today’s world, business owners face increasing challenges in protecting their company’s assets. The headaches business owners deal with can include anything from cyberattacks, natural disasters, theft of money, inventory theft, or worse, theft of trade secrets. What is a trade secret? A trade secret can be any proprietary information (e.g., customer lists, business plans, […]