Increasingly, you’ll hear about big companies using their profits for social good or to help the environment. Time listed the “best corporations” in 2023; the ranking included sustainability. Among these corporations were Microsoft, Apple, Alphabet (Google), Meta (Facebook), Accenture (in Ireland), Pfizer, and American Express. But you don’t have to be a giant corporation to […]
The post Ending the Confusion about Designations Do-Good Companies appeared first on Barbara Weltman.
The federal government recognizes that “illicit actors frequently use corporate structures such as shell and front companies to obfuscate their identities and launder their ill-gotten gains through the U.S. financial system.” To enable the government to catch and penalize these bad actors—drug dealers, money launderers, foreign operatives, and others—the Corporate Transparency Act (CTA) of 2021 imposes […]
The post Get Ready for the Beneficial Ownership Information Reporting Rule appeared first on Barbara Weltman.
If you asked most small business owners, they’d say that paperwork and red tape are the hallmarks of government and the bane of their existence. Well, it’s about to get worse. Starting January 1, 2024, a new reporting rule takes effect. What the rule is all about and what you need to do: Background Back in 2021, Congress passed the Corporate Transparency Act (CTA) to help the Treasury learn more about business owners as a way to prevent and combat money laundering, terrorist financing, corruption, tax fraud, and other illicit activities. Small businesses that are formed under state law—corporations, limited liability companies, […]
The post New Federal Reporting Requirement for Small Businesses appeared first on Barbara Weltman.
There’s tremendous partisanship reported regularly in the media. But in actuality, there’s considerable bipartisan action going on. Small business matters shouldn’t be partisan; issues need to be addressed. Fortunately, the Small Business Committee in the House has taken some steps to help small businesses. The following is a brief overview of current bi-partisan bills on small business matters that have passed the Committee. Be sure to communicate your support or disapproval with your representative in Congress…you can make a difference. Current bills on small business matters 7(a) Loan Agent Oversight Act The SBA’s 7(a) loan program is the most common […]
The post Small Biz Congressional Measures to Watch and What to Do appeared first on Barbara Weltman.
