RAY SILVERSTEIN’s Post

NEW LAW REQUIRES S-CORPS TO FILE WITH GOV'T The Corporate Transparency Act of 2024 is a New Law that requires S-Corps, Family Businesses, and LLC’s to file by year end. Attend a Free, one-hour program to learn if you are an exception or what you must do to stay out of trouble. PRO, President’s Organization and Rock, Fusco & Connelly, LLC Law Firm are bringing you this information session Tuesday, September 24 at 1:00 pm, CDT.  Register to learn if you are excluded or what you have to do. Invest one hour and avoid hours of work and potential fines from the Department of Treasury. CLICK the LINK to register for this event >>> https://lnkd.in/evBNv54r Our Resource, Gregory Frezados, Lawyer and Partner at Rock, Fusco & Connelly, will simply explain what to do and how to do it. This Requirement is for Real! PRO, President’s mission is to help small business leaders “Get Where They Want to Get”! This is accomplished by creating and facilitating Business Leader Peer Advisory Boards and Small Business Round Tables to cultivate unique thoughts and also solutions for business issues. Business leaders, today, must be aware of the impact and concepts of change in order to survive, succeed, and thrive. Being Alone at the Top is Difficult! PRO, Peer Boards provide solutions. All of US are Smarter than One of Us. Ray Silverstein Cultivating Business Success PRO, President’s Resource Org. Business Owner Peer boards [email protected] www.peeradvisoryboard.com Call/Text 312 593-5133 Author: Best Secrets of Great Small Businesses & The Small Business Survival Guide Ray Silverstein, President and Founder, PRO, President’s Resource Organization: Ray, an entrepreneur, author and speaker, facilitates in-person and virtual peer advisory boards for small business owners. A former CEO twice over, he is respected for his ability to communicate meaningful, practical business concepts and is instrumental in creating breakthrough moments for executives wrestling with organizational issues. He is experienced in Merger & Acquisitions, has bought and sold personal companies, and has been a member of the Board of Directors of Commercial Bank for over 25 years. Gregory A. Frezados has practiced law in Illinois since 1994, after graduating from Tulane University School of Law. His practice includes trust and estate planning, corporate and exempt organization formation, as well as corporate financing and employment agreements. Greg designs estate planning strategies, including family business succession, income tax planning, philanthropy and asset protection plans, for wealthy individuals including executives, philanthropists and professional athletes, families, family offices, and other family enterprises. 

NEW LAW REQUIRES S-CORPS TO FILE WITH GOV'T The Corporate Transparency Act of 2024 is a New Law that requires S-Corps, Family Businesses, and LLC’s to file by year end. Attend a Free, one-hour program to learn if you are an exception or what you must do to stay out of trouble. PRO, President’s Organization and Rock, Fusco & Connelly, LLC Law Firm are bringing you this information session Tuesday, September 24 at 1:00 pm, CDT. Register to learn if you are excluded or what you have to do. Invest one hour and avoid hours of work and potential fines from the Department of Treasury. CLICK the LINK to register for this event >>> https://lnkd.in/euuRxjVm Our Resource, Gregory Frezados, Lawyer and Partner at Rock, Fusco & Connelly, will simply explain what to do and how to do it. This Requirement is for Real! PRO, President’s mission is to help small business leaders “Get Where They Want to Get”! This is accomplished by creating and facilitating Business Leader Peer Advisory Boards and Small Business Round Tables to cultivate unique thoughts and also solutions for business issues. Business leaders, today, must be aware of the impact and concepts of change in order to survive, succeed, and thrive. Being Alone at the Top is Difficult! PRO, Peer Boards provide solutions. All of US are Smarter than One of Us. Ray Silverstein Cultivating Business Success PRO, President’s Resource Org. Business Owner Peer boards [email protected] www.peeradvisoryboard.com Call/Text 312 593-5133 Author: Best Secrets of Great Small Businesses & The Small Business Survival Guide Ray Silverstein, President and Founder, PRO, President’s Resource Organization: Ray, an entrepreneur, author and speaker, facilitates in-person and virtual peer advisory boards for small business owners. A former CEO twice over, he is respected for his ability to communicate meaningful, practical business concepts and is instrumental in creating breakthrough moments for executives wrestling with organizational issues. He is experienced in Merger & Acquisitions, has bought and sold personal companies, and has been a member of the Board of Directors of Commercial Bank for over 25 years. Gregory A. Frezados has practiced law in Illinois since 1994, after graduating from Tulane University School of Law. His practice includes trust and estate planning, corporate and exempt organization formation, as well as corporate financing and employment agreements. Greg designs estate planning strategies, including family business succession, income tax planning, philanthropy and asset protection plans, for wealthy individuals including executives, philanthropists and professional athletes, families, family offices, and other family enterprises.

NEW LAW REQUIRES S-CORPS TO FILE WITH GOV'T The Corporate Transparency Act of 2024 is a New Law that requires S-Corps, Family Businesses, and LLC’s to file by year end. Attend a Free, one-hour program to learn if you are an exception or what you must do to stay out of trouble. PRO, President’s Organization and Rock, Fusco & Connelly, LLC Law Firm are bringing you this information session Tuesday, September 24 at 1:00 pm, CDT. Register to learn if you are excluded or what you have to do. Invest one hour and avoid hours of work and potential fines from the Department of Treasury. CLICK the LINK to register for this event >>> https://lnkd.in/eed7_P5P Our Resource, Gregory Frezados, Lawyer and Partner at Rock, Fusco & Connelly, will simply explain what to do and how to do it. This Requirement is for Real! PRO, President’s mission is to help small business leaders “Get Where They Want to Get”! This is accomplished by creating and facilitating Business Leader Peer Advisory Boards and Small Business Round Tables to cultivate unique thoughts and also solutions for business issues. Business leaders, today, must be aware of the impact and concepts of change in order to survive, succeed, and thrive. Being Alone at the Top is Difficult! PRO, Peer Boards provide solutions. All of US are Smarter than One of Us. Ray Silverstein Cultivating Business Success PRO, President’s Resource Org. Business Owner Peer boards [email protected] www.peeradvisoryboard.com Call/Text 312 593-5133 Author: Best Secrets of Great Small Businesses & The Small Business Survival Guide Ray Silverstein, President and Founder, PRO, President’s Resource Organization: Ray, an entrepreneur, author and speaker, facilitates in-person and virtual peer advisory boards for small business owners. A former CEO twice over, he is respected for his ability to communicate meaningful, practical business concepts and is instrumental in creating breakthrough moments for executives wrestling with organizational issues. He is experienced in Merger & Acquisitions, has bought and sold personal companies, and has been a member of the Board of Directors of Commercial Bank for over 25 years. Gregory A. Frezados has practiced law in Illinois since 1994, after graduating from Tulane University School of Law. His practice includes trust and estate planning, corporate and exempt organization formation, as well as corporate financing and employment agreements. Greg designs estate planning strategies, including family business succession, income tax planning, philanthropy and asset protection plans, for wealthy individuals including executives, philanthropists and professional athletes, families, family offices, and other family enterprises.

The Corporate Transparency Act represents a significant shift in how businesses will report ownership information and is a critical step toward transparency in corporate governance. As we approach January 1, 2024, small and medium-sized business owners need to take proactive steps to understand and comply with this new law. Failing to do so could result in hefty fines or even jail time, making awareness and action more important than ever. By staying informed and prepared, business owners can navigate these changes and continue to thrive in an evolving regulatory environment. The time to act is now—don't let your business fall victim to ignorance. However, it’s important to note that this new requirement is not as simple as just listing the owners of the company. The law specifies additional categories of individuals who must be disclosed as “beneficial owners,” even if they do not own any equity in the business. This could include individuals who have significant control over the company or those who have the ability to influence decisions, making compliance more complex than it may initially appear. Fortunately, services like BOI have emerged to assist businesses in navigating these requirements. They help clients determine exactly who in their company must be disclosed, taking the guesswork out of the process. boially.com Backed by Tommy Fuller and the Fuller Law Group PLLC.

Time is ticking on Corporate Transparency Act compliance! Romano Law PLLC has been busy helping our U.S. clients meet their BOI filing obligations ahead of the January 1, 2025, deadline. If your business hasn't filed yet, don't delay! These requirements affect virtually every small business in America. Learn more about your obligations under the CTA in my colleague Jari Wilson's recent article. #CorporateTransparencyAct #BusinessLaw #Compliance #SmallBusiness #FinCEN

In today's fast-paced business world, it's easy to overlook the importance of corporate formalities. However, failing to adhere to these essential practices can have consequences for your company. Read more about the significance of corporate formalities and why they matter in our latest blog post by commercial law expert, Victoria Spellman. #legalprotection #legaladvice

Delaware vs. California corporate law: Key differences every business owner should know. https://lnkd.in/eAZ-iUzT

The Di Martino Law Group is a legal entity specializing in corporate law. It’s devoted to helping numerous executives and business proprietors. Corporate law presents various advantages to entities and individuals engaged in corporate endeavors: 👉 Legal Framework: Corporate law furnishes a well-defined legal framework for businesses, defining their rights, duties, and accountabilities, thereby ensuring order and clarity in operational processes. 👉 Limited Liability: A paramount advantage is the provision of limited liability protection for shareholders, safeguarding their personal assets from corporate debts and liabilities, thus mitigating financial risks. 👉 Capital Accessibility: Corporations have easier access to capital through various channels, such as issuing stocks, bonds, or seeking investments, enabling them to procure funds for expansion, innovation, or strategic initiatives. 👉 Tax Advantages: Corporations often reap tax benefits, including deductions for business expenditures, preferential tax rates for specific income categories, and the option to defer taxes on retained profits. 👉 Distinct Legal Entity: A corporation functions as a distinct legal entity apart from its owners, empowering it to engage in contracts, own assets, litigate or be litigated against, and conduct business autonomously from its shareholders. 👉 Perpetual Continuation: In contrast to sole proprietorships or partnerships, corporations enjoy perpetual existence, allowing them to sustain operations notwithstanding changes in shareholder composition or demise. 👉 Credibility and Reliability: The corporate structure enhances credibility and reliability among stakeholders, including customers, suppliers, investors, and collaborators, by signaling commitment to legal adherence and corporate governance. 👉 Employee Perquisites: Corporations can offer enticing benefits to employees, such as health coverage, retirement schemes, stock incentives, and other perks, thereby enhancing talent acquisition and retention. READY TO DISCUSS? https://lnkd.in/duAwp_Ei  #Law #Attorney #Legalservice #Lawyer

👉 Uncertainty is bad for business. This simple statement explains why Delaware is one of the leading states among corporations in the US. Most corporations in the US end up incorporating in Delaware. Although one of the smallest states in the country, some 60% of the Fortune 500 were registered in Delaware, as of mid-2023. When we look at the reasons, it tends to make sense: 1️⃣ DE has some of the most well-formed corporation laws in the US. Investors and companies like the idea of predictable, long-established principles. Helps to keep things from getting messy. 2️⃣ DE law allows for increased flexibility with respect to Board composition and corporate admin matters. This flexibility is usually welcomed by investors and founders. 3️⃣ Finally, most corporate attorneys in the US have some familiarity with the laws of Delaware. Remarkably, many other states have drawn inspiration over the decades from Delaware law! Because attorneys are familiar with these laws, it influences how they provide legal advice to clients. Bottom line - uncertainty is bad for business.

In this Corporate Counsel article, Kevin Shepherd discusses the Corporate Transparency Act and reporting requirements for businesses. #CorporateLaw