File Your BOIR By March 21, 2025 12:00AM
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What Business Owners Need to Know

The CTA aims to combat financial crime and corruption by requiring businesses to report information about their beneficial owners – the individuals who ultimately control or benefit from the company.

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What Business Owners Need to Know

The CTA aims to combat financial crime and corruption by requiring businesses to report information about their beneficial owners – the individuals who ultimately control or benefit from the company.

Schedule a free consultation
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What is a Beneficial Owner?

A beneficial owner is not always the person listed on the company documents. It’s an individual who meets any of the following criteria: 

  • Owns 25% or more of the company’s shares
  • Exercises substantial control over the company, even without direct ownership
  • Receives substantial economic benefits from the company

What Does the CTA Mean for Your Business?

Over 30 million small businesses are expected to be impacted by the Corporate Transparency Act. If you own or manage a business registered in the United States, you may be required to file a Beneficial Ownership Information Report (BOI) with the Financial Crimes Enforcement Network (FinCEN).

Three professionals discussing work at a table, focused on a laptop screen.

What is a Beneficial Owner?

A beneficial owner is not always the person listed on the company documents. It’s an individual who meets any of the following criteria: 

  • Owns 25% or more of the company’s shares
  • Exercises substantial control over the company, even without direct ownership
  • Receives substantial economic benefits from the company

What Does the CTA Mean for Your Business?

Over 30 million small businesses are expected to be impacted by the Corporate Transparency Act. If you own or manage a business registered in the United States, you may be required to file a Beneficial Ownership Information Report (BOI) with the Financial Crimes Enforcement Network (FinCEN).

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Unlock Your R&D Tax Credits

You're already investing in groundbreaking work. Let us turn those investments into a significant financial return. We specialize in navigating the complexities of the R&D tax credit, making the process simple and rewarding for you. Our expert-led approach ensures you not only maximize your claim but also receive the robust documentation to back it up.
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Step 1: Discover Your Opportunity

Let's find out what you're owed—at no cost. In a brief, confidential consultation, we'll learn about your projects and goals. This allows us to identify your qualifying activities and calculate a reliable estimate of your potential tax savings.

Step 2: See the Full Picture

Using the information gathered, we’ll deliver a detailed Scope of Work that presents a clear strategy. It includes your refined credit benefit estimate, our precise methodology for the study, and a full breakdown of the project timeline and associated fees. No surprises, just a clear path forward.

Step 3: Secure Your Savings

We partner with your team to perform a thorough R&D study, documenting all qualifying activities and costs. The result is
an ironclad claim and a complete substantiation package designed for audit defense, allowing you to claim your credits with total confidence.

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When Do You Need to File the BOIR Form?

The deadlines for filing a BOIR Form under the CTA can vary depending on when your company was formed and whether you are updating the information. Here are some deadlines to remember:

  • Established before January 1st, 2024: You have until January 1, 2025, to file a BOIR.
  • Established after January 1st, 2024: You have 90 days from the date of formation to file a BOIR.

Updating Your BOIR Form: If there are any changes to your company’s beneficial ownership information, you must submit the update within one year of the change.

Ready to Estimate Your Savings?

Discover your potential savings with a free, no-obligation estimate. Our R&D questionnaire helps you determine how much your business could save.

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Learn About Partnering With Our Team

The Corporate Transparency Act is in effect. You can get started today by signing up to be notified for updates or by partnering with our team to proactively review your clients' business structures and tax planning strategies.

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FAQs

Unclear about our service? Dive into our FAQs for clarity and keep the questions coming.

Are there any exemptions to the Corporate Transparency Act reporting requirements?

Certain types of entities, like public companies and nonprofits, are exempt from the CTA.

Can I file the BOI Report myself?

Yes, but it can be complex. Consider consulting a qualified professional to ensure accuracy and timely compliance.

What happens if I don’t file or file inaccurately?

Penalties can include fines up to $10,000 and even criminal charges.

View Insights From Our Team

Explore our curated list of downloadable PDFs and other resources for more information. 

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