How Contractors Can Safeguard Their Business Assets: A Guide to Business Succession Planning
Running a successful contracting business in California requires more than just skill and dedication to your craft. To truly safeguard your business assets, you must consider the future — not just for day-to-day operations, but for the long-term continuity of your business. Business succession planning is a critical tool to ensure your contracting business continues […]
Corporate Transparency Act Who Must File, When to File, How to File
The Corporate Transparency Act (“CTA”) came into effect on January 1, 2024, impacting numerous small businesses throughout the United States. The claimed objective of the CTA is to address the covert nature of corporate ownership, a facet exploited for various illicit activities such as money laundering, terrorism financing, and other financial wrongdoings. Under the newly enacted legislation, businesses meeting specific but common criteria are obligated to submit a Beneficial Ownership Information (“BOI”) Report to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”).
