Are you really joing to jail?! Are $500/day penalties in your future??

You can breathe a deep breath and know you'll be home for the holidays this season. This is a pretty basic filing that you may be able to finish faster than your favorite latte.

In this episode, I provide an in-depth overview of the new Beneficial Ownership Information (BOI) reporting requirements effective from January 1, 2024. Learn who needs to file, deadlines, necessary information, and potential penalties. I also clarify common misconceptions and offer practical advice to ensure compliance. Perfect for small business owners and entrepreneurs looking to stay informed and compliant with the latest regulations.

If you want even more in-depth information, including a full video walk-thru of the BOI filing system, check out the Empowered Entrepreneur Network at:

Empowered Entrepreneur Network Site

This site contains downloads, links, and videos on BOI and other hot topics related to small business owners. And it's FREE!!

RESOURCES MENTIONED IN THE PODCAST:

FILE Your Report HERE

BOI Small Entity Compliance Guide

BOI Reporting FAQs

This is one episode that you won't want to miss!

Understand how the IRS defines deductible business expenses, which deductions entrepreneurs often miss, and which expenses aren't allowed, but may still be worth keeping as a part of your business plan.

I also share some red flags that could inadvertently put you on the IRS audit radar.

This episode is chock full of the do's and don'ts around small business deductions.

BONUS: Attached is the promised summary to help you remember the basics.

Business Expense Deductions

Many small business owners fail to make paying themselves a priority. Owner paychecks become the crumbs that are left over at the end of the month. And many times owners find themselves putting money into the business, rather than taking money out.

Let's turn that around and focus on how to create a business that pays you first and becomes a healthy, profit creating entity, rather than one that continues to take from you and your family.