At this point, you have likely heard about the Corporate Transparency Act. And, you probably know its basic requirements - leaving me little room to educate you on what it is. The bigger question you should be asking is - how?
The real challenges for law firms and other business advisors will be the changes to processes, procedures, and service offerings that stem from the enactment of the Corporate Transparency Act.
But, perhaps the most immediate challenge will be notifying clients. To save you some time, I have put together this sample video which, if you are willing, I am happy to white label for you. How do you get white labeling? By purchasing my upcoming course, to launch the week after Thanksgiving, on creating an organizational gameplan for the Corporate Transparency Act.
With the course, you will also get a sample written deliverable you can customize, along with a checklist of internal decisions to consider.
If you want an update when the course goes live, the best way to be notified is by subscribing to my newsletter (if you have not already done so) at https://lnkd.in/gWXQcc6e.
In the meantime, even if you have no interest in the course, I hope this video adds value for you and your clients.
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If you are starting fresh with the Corporate Transparency Act, this video should help you to understand the basics. I don't get into the weeds on fringe issues, but this video should prepare you to competently discuss the CTA with clients.
After getting up to speed, if you are ready for a deeper dive - not on fringe issues but on hidden ways the CTA can affect an attorney's or advisor's services, processes, procedures, communications, and even marketing, check out my "freemium" course at https://lnkd.in/gNTyuVhs#estateplanning#trustsandestates#tax
Is your business prepared for the Corporate Transparency Act's new beneficial ownership reporting requirements? Learn about the key aspects and implications of this critical regulation, set to take effect on January 1, 2024 here: https://lnkd.in/d7E_qE7g#molentax#taxprofesionals#taxfirm
In 2024, as the #PillarTwo Model Rules continue to take effect throughout the world and nations ramp up their adoption of this sweeping tax reform, corporations and tax authorities alike will need to get ready for the risks and compliance burden it will bring. FORVIS has the details.
Executive Partner and M&A Attorney at Faegre Drinker
5moThanks for the opportunity to share insights on this topic!