Our Services

  • Effective January 1, 2024, millions of entities are required to report information to FinCEN about the individuals who ultimately own or control them under the Corporate Transparency Act.

    We help you navigate this new reporting requirement and ensure compliance.

  • We offer assistance with critical business legal needs, from formation to exit.

    Our approach is practical, built upon in depth financial and accounting knowledge.

  • We represent you before the IRS and help you ensure the best tax position.

    We guide you through the complex web of the U.S. tax code.

  • We partner with you to create a legacy that reflects your values and aspirations.

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Beneficial Ownership Information (BOI) Reporting

New 2024 Federal Reporting Requirement - CTA BOI

The Corporate Transparency Act requirement is now fully in effect. Under the CTA, millions of small entities must file a beneficial owner information report with the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).

  • Beneficial ownership information refers to identifying information about the individuals who directly or indirectly own or control a company.

  • Companies required to report are called reporting companies. There are two categories of reporting companies:

    (1) Domestic - A corporation, a limited liability company (LLC), or was otherwise created in the U.S. by filing a document with a secretary of state or any similar office under the law of a state or Indian tribe ; or,

    (2) Foreign - A foreign company and was registered to do business in any U.S. state or Indian tribe by such a filing.

    Almost all small businesses would fall into the category of reporting companies.

    LLCs, corporations, limited partnerships, and limited liability partnerships must check if they are reporting entities.

    A trust may also be subject to the BOI reporting requirement if it holds ownership or substantial control of a reporting company. Such trust may need to report information of its trustees, beneficiaries, or settlors.

    Because of the law’s far-reaching applicability and substantial penalties, every entity must ensure its compliance each year.

  • Twenty-three types of entities are exempt from the beneficial ownership information reporting requirements. These entities include publicly traded companies, nonprofits, and certain large operating companies.

  • Reporting companies will have to report beneficial ownership information electronically through FinCEN’s website.

  • Reports will be accepted starting on January 1, 2024.

    Due January 1, 2025 - if a reporting company was created or registered prior to January 1, 2024

    Within 90 calendar days for a reporting company created or registered on or after January 1, 2024, and before January 1, 2025. The 90-day count starts after the company receives actual or public notice that the company is created or registration is effective, whichever is earlier.

    Within 30 calendar days for a reporting company that is created or registered on or after January 1, 2025. The 30-day count starts after the company’s receipt of actual or public notice that its creation or registration is effective.

    Within 30 calendar days for any updates or corrections to beneficial ownership information that was previously filed with FinCEN.

  • Failure to comply or the provision of false or fraudulent reports may result in civil fines of $500 a day for as long as the reports remain inaccurate. Failure to comply may also subject the violators to the criminal penalties of a $10,000 fine or 2 years in jail.

Business

Business Formation

At the start of a business, there are a number of critical legal documents and considerations.

Choice of Entity

We help you navigate different entity choices, such as LLC, S corporation, C corporation, partnership, and determine the best structure for your business.

Formation & Start-up

We assist with a variety of business formation and start-up legals:

  • LLC Operating Agreement

  • Bylaws, Shareholder Agreement

  • Partnership Agreement

  • Structuring consulting

  • Entity Conversion/Restructuring

Employees and Contractors

  • Employees / Contractor classification

  • Payroll tax consulting

  • Employment/Contractor agreement

  • Policies and procedures

  • Compensation agreement

Business Maintenance

We assist with various legal needs arising over the course of business:

  • Documentation of business decisions, meetings, votings

  • Changes of entity

  • Business management : nondisclosure, noncompete, management agreements

Business Operation

  • Business manament : nondisclosure, noncompete, management agreements

  • Consent to Use Testimonial

  • Liability Waiver

  • Privacy Policy

  • Payment demand letter

End of Business Cycle

  • Exit / Succession planning

  • M&A consulting

  • LLC / Corporation Dissolution

Tax -

Tax Controversy, Consulting and International tax

We untangle the knots of unfiled taxes, bridge the cultural divides of international reporting, and craft a defense as fierce as it is meticulous. We stand as your advocate, a shield forged from experience and legal excellence.

  • Tax Audit Representation: We assist individuals and businesses in IRS, District of Columbia, and Maryland Comptroller's audits, minimizing tax liabilities and penalties.

  • Tax Controversy Resolution: We assist clients to resolve tax disputes, appeals, and collection actions.

  • Tax Planning & Consulting: We assist individuals and entities in crafting optimal tax strategies, including pass-thru entity tax planning, retirement planning, business entity selection and more.

  • International Tax Planning: We help clients navigate the complexities of cross-border transactions and international taxation for individuals and businesses with international ties.

  • Estate & Gift Tax Planning: We help with tax planning and compliance on estates and trusts, and optimizing gifting strategies for individuals and families.

Estate Planning

Life is a tapestry woven with moments, memories, and the enduring love for those we hold most dear. We believe your legacy deserves the same thoughtful craftsmanship. Estate planning is a critical part of that process.

Estate Planning Considerations

Below are some of the common estate planning items.

  • Wills: Determines how your assets are distributed after your death.

  • Trusts: Hold assets for beneficiaries according to your wishes, potentially minimizing taxes and managing incapacity.

  • Powers of Attorney: Grant trusted individuals authority to act on your behalf for financial or medical decisions if you become incapacitated.

  • Healthcare Advance Directives: Specify your wishes for medical treatment if you are unable to communicate them yourself.

  • Tax Planning: Minimize estate taxes and maximize tax benefits through trusts, gifting strategies, and other techniques.

  • International Estate Planning: Addresses the complexities of estate planning for individuals with assets or family members in multiple countries.

We are here to help.

If you want to explore more on your estate planning, please do not hesitate to contact us.