FinCEN Mandates BOI Reporting for Cambridge, MA Businesses: File by 01/01/2025 or Face Penalties
The Corporate Transparency Act (CTA) requires Cambridge, MA businesses to submit Beneficial Ownership Information (BOI) to FinCEN by January 1, 2025, to combat financial crimes such as money laundering and tax evasion. As of today, 11-26-2024, Cambridge business owners have 36 calendar days (or 27 business days) left to file their BOI reports with FinCEN—failure to file may result in daily fines of $500. Steps for Cambridge Businesses to Stay Compliant1. Confirm Your Reporting
The Key to Home Business Success Lies in Legal Essentials
Launching a home-based business is an exciting step that more people are taking as they turn their homes into entrepreneurial hubs. While the opportunity brings a sense of freedom, it’s important to address the legal requirements that come with it. Establishing a solid foundation means ensuring you're compliant with regulations that protect both you and your customers. Whether it's acquiring permits or securing sensitive information, each legal step has a direct impact on your business’s stability.
