PLEASE READ THIS NEWSLETTER IN ITS ENTIRETY. THERE IS A STRONG LIKELIHOOD IT WILL APPLY TO YOUR SITUATION. December, 2023 THE CORPORATE TRANSPARENCY ACT On January 15, 2021, a new law was passed by Congress, the “Corporate Transparency Act” (hereafter referred to as CTA). It is intended to be a tool against money laundering, […]
Category: Business
Fair Wages and Healthy Families Act
Proposition 206, passed by Arizona’s legislature in November of 2016, mandates new rules for the issuing and use of paid sick leave for all Arizona employees with the exception of Arizona and Federal government employees. The following points should be considered and implemented: Employees begin accruing sick leave on July 1, 2017, or on their […]
Loans to Your Small Business
Loans between owners and the small businesses they own (shareholders of corporations and members of LLC’s) are subject to special scrutiny. If the loans are not documented correctly, the IRS will treat them in ways that may result in unfavorable tax consequences. These loans must meet certain minimum standards that include: There must be a […]
Proper Operation of an LLC
When the limited liability company first came into existence it was quickly adopted in the legal and financial world. This business entity offered several advantages over the other entities that were available at the time: C corporations, S Corporations, sole proprietorships, general partnerships and limited partnerships. An LLC offered the limited liability protection of a […]