Austin, TX Businesses: Here’s what to know now about the CTA, BOI and FinCEN
The Corporate Transparency Act may require certain U.S. companies to disclose beneficial ownership information to FinCEN to combat financial crimes. While a Texas federal district court’s preliminary injunction puts this requirement on hold, many experts expect that to be overturned. In that event, failure to file could lead to fines of $500 per day, up to a maximum of $10,000, and possible criminal penalties. However, filing your Beneficial Ownership Information (BOI) report will help you avoid fines
Protect Your Small Business With These Smart Financial Moves
As a small business owner, staying on top of financial decisions is essential for success. There are a number of ways to ensure your business finances are in order, from developing basic financial literacy to implementing PDF tools that can help manage your most important paperwork. The Lake Travis Chamber of Commerce has put together several tips on how to get started.Learn Financial Literacy Having an understanding of basic accounting principles such as balance sheets, income statements, and cash flows
