Don't Forget your BOI Report: Due January 1, 2025
If you own or manage a business, you’ve likely heard about the new federal BOI (Beneficial Ownership Information) reporting requirement. Designed to increase transparency, BOI reporting mandates that businesses disclose key information about their owners and decision-makers. This initiative aims to prevent illicit activities like money laundering and tax evasion while ensuring accountability in corporate structures. In this post, we’ll break down what BOI reporting entails, why it’s important, and the deadlines you need to meet to stay compliant. Let’s dive in and ensure your business is prepared!
