New rule requires disclosure of beneficial owners when opening a bank account.
The Treasury Department is pursuing methods of increasing financial transparency of legal entities. The goal is to bring the U.S. in line with a global trend against secrecy in financial dealings. To...
View ArticlePrivate Placements: What happens if you fail to file Form D (or file it late)?
Form D is a document that the SEC requires a company to file when it issues securities in a private placement under Regulation D. It must be filed with the SEC within 15 days of the first sale of a...
View ArticleThe Only Three Reasons Entrepreneurs Need Accounting and Finance
Observing finance and accounting professionals – or the way academics at most business schools train them – might lead you to believe that finance and accounting is a complex and arcane language...
View ArticleWhat does it mean to incorporate?
Incorporating a business means turning your sole proprietorship or general partnership into a company formally recognized by your state of incorporation. When a company incorporates, it becomes its own...
View ArticleTax group releases state-by-state rankings
A string of low-tax states top the list for best business climates in the country, according to a new study from the Tax Foundation. Wyoming, South Dakota, Nevada, Alaska and Florida have the top five...
View ArticleThink You Can Save Big by Incorporating in Nevada or Delaware? Think Again
Don’t listen to anyone trying to sell you on the idea of incorporating out-of-state in Nevada or Delaware. More than likely, it’s a scam. As a tax lawyer advising clients across the country, I meet...
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C or S Corporation Choice is Critical for Small Business
When an individual outgrew a proprietorship, a corporation used to be the norm. Today, limited liability companies (LLCs) are the new normal. See IRS: Forming a Limited Liability Company. But if you...
View ArticleProposed regs. would require taxpayers that received EINs to update information
On Wednesday, the IRS issued proposed regulations that would require taxpayers that obtain employer identification numbers (EINs) to update their information with the IRS (REG-135491-10). The IRS...
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