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What if non-compliance could cost your business more than just money? Daniel, founder of Bookkeeping for Painters, and Richard, the advising director, tackle the critical necessity of filing your FinCEN Beneficial Ownership Information (BOI) Reports before the looming deadline of December 31st, 2024. With the specter of $591 daily penalties and even potential jail time, this episode isn't just a casual chat—it's a vital public service announcement for all LLCs and corporations. Learn how to sidestep these pitfalls with practical guidance on the straightforward filing process, easily accessible on the FinCEN website. We shed light on the 80% of businesses yet to file, emphasizing the need for urgent action to protect your business.
Get ready to navigate the complexities of BOI filing with our comprehensive breakdown and expert insights. Whether you choose to handle it independently or seek help from a lawyer or the supportive community in our Facebook group, "Grow your Painting Business," we’ve got you covered. As the holidays approach, don't let the dread of looming deadlines overshadow your festivities. Tune in to ensure your company remains compliant, and brace yourself for forthcoming episodes featuring more uplifting content. Join us in making compliance a breeze, so you can enjoy peace of mind and a penalty-free future.