Is the government’s latest reporting requirement about to crash and burn, or is it just getting warmed up? Grab your coffee, because this rollercoaster isn’t over yet.
If you’re a business owner, you’ve probably got enough on your plate—running the show, keeping profits up, and, let’s face it, staying one step ahead of Uncle Sam’s never-ending demands. Then along comes the Beneficial Ownership Interest (BOI) requirement, a shiny new regulation set to kick in January 1st, 2025, like an uninvited guest at your holiday dinner. But wait—there’s a plot twist.
Just when it seemed like business owners across the country would be hit with yet another to-do list item, a Texas judge stepped in and said, “Not so fast.” Yep, as of December 3rd, BOI reporting has been put on hold. Constitutional? Unconstitutional? Who knows at this point—but for now, you can breathe a little easier.
Let’s break it down: the government expected 42 million reports to flood in by January 1st, but as of mid-November, only six million had been filed. You don’t need a calculator to know those numbers aren’t adding up, and clearly, there’s a lot of head-scratching going on in Washington. Will they fix it? Appeal it? Make it worse? Stay tuned, because this story is still being written.
So, what does this mean for you? Well, for starters, you don’t need to file that BOI report just yet. For now, stand down, enjoy your sanity, and let the legal wrangling play out. But—and this is a big but—you’ll want to keep an eye on things. The folks at Calculated Moves have you covered, with updates on their website and Facebook page as soon as new info rolls in.
At the end of the day, you’ve got better things to do than stress over government red tape. Whether it’s growing your business, boosting profits, or actually enjoying your free time, the pros at Calculated Moves will make sure you’re prepared for whatever comes next. Because let’s be real: strategic planning beats last-minute panic every single time.
So, is BOI dead? Not quite. It’s more like a zombie shuffling through the court system—still alive, but questionable at best.
Want the latest updates without lifting a finger? Head over to calculatedmoves.com/BOI and follow us on Facebook. We’ll keep you informed while you focus on what really matters: running your business, making great decisions, and leaving the headaches to the pros. 🚀
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Donna Bordeaux, CPA with Calculated Moves
Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly, and knowledgeable can be a part of your relationship with your CPA, as demonstrated by Donna and Chad Bordeaux. They have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help businesses earn many times more profit than the average business in the same industry and are passionate about helping industries that help families build great memories.