Are you an entrepreneur with a brilliant business idea? Or perhaps you’re a seasoned business owner looking to expand your ventures? No matter where you are in your business journey, proper formation and compliance are crucial for your success. At Housh Tax Law, we routinely guide businesses through entity selection, formation, and ongoing compliance.
Choosing the right business entity type is the cornerstone of your business’s legal structure. Our experienced attorneys will break down the complexities of various options, including Limited Liability Companies (LLCs), Corporations, Partnerships, and more. We’ll help you understand the implications of each entity type on liability, taxes, management, and ownership so that you can make an informed decision aligned with your business goals.
Staying compliant with legal requirements is an ongoing commitment that ensures the smooth operation of your business. Our dedicated team will navigate you through the labyrinth of regulations, providing proactive advice on how to maintain compliance. From annual State and Local reporting obligations to meeting tax filing and payment deadlines, we’ve got you covered.
The Corporate Transparency Act (CTA) is a landmark legislation passed in the United States as a part of the National Defense Authorization Act for Fiscal Year 2021, aimed at preventing money laundering, tax evasion, and other illicit activities by enhancing transparency in the ownership of corporations and limited liability companies (LLCs). We can provide advice on the reporting requirements, help in the identification of beneficial owners, and assist in the completion and submission of the necessary forms to the Financial Crimes Enforcement Network (FinCEN). Furthermore, we offer guidance on how to maintain compliance with the CTA while minimizing disruptions to the day-to-day operations of your business.
Note: Businesses formed prior to January 1, 2024, have until December 31, 2024, for initial CTA disclosures. Businesses formed after January 1, 2024, have 30 days from the end of their first quarter to file initial CTA disclosures. Beginning 2025, February 14 is the deadline for annual disclosure.
In situations where a business entity has been suspended by the Franchise Tax Board (FTB) due to non-compliance, we can guide the business owners through the process of reviving a suspended entity, ensuring all necessary steps are taken to reinstate the business’s good standing with the state. With a deep understanding of the legal stakes and deadlines involved, we expedite the revival process and mitigate potential legal complications, enabling businesses to swiftly regain their active status and continue their operations uninterrupted.
Your business’s success is our priority. With Housh Tax Law’s Business and Compliance Practice, you can focus on what you do best—building and growing your business—while we handle the legal and tax work for you.
Ready to embark on a journey of compliant and sustainable business growth? Contact us today to schedule a consultation with one of our experienced attorneys. Let’s pave the way for your business’s success, together.