FinCEN Requires Bay City, MI Businesses to File BOI Reports by 01/01/2025: Avoid $500 Daily Fines
The Corporate Transparency Act (CTA) mandates that businesses in Bay City, MI, file Beneficial Ownership Information (BOI) reports with FinCEN by January 1, 2025, to enhance transparency and combat financial crimes. As of today, 11-26-2024, Bay City business owners have 36 calendar days (or 27 business days) left to submit their BOI reports to FinCEN—act now to avoid daily fines of $500. Steps to Ensure Compliance1. Determine If Your Business Must File Deadline: ASAPMost corporations, LLCs, and
Navigate Entrepreneurial Waters with a Business Bank Account for Your LLC
Starting an LLC is an exciting process full of critical decisions and opportunities. One of the key steps is opening a business bank account, a move that can significantly influence your company’s financial trajectory. This account becomes a central hub for managing finances, promoting growth, and maintaining operational efficiency. Though often overlooked, the decision to separate personal and business finances plays a major role in safeguarding the health of the business. A dedicated bank account
