News
Unpacking the CTA, BOI and FinCEN for Business Owners in Wylie, TX
The Corporate Transparency Act may require certain U.S. companies to disclose beneficial ownership information to FinCEN to combat financial crimes. While a Texas federal district court’s preliminary injunction puts this requirement on hold, many experts expect that to be overturned. In that event, failure to file could lead to fines of $500 per day, up to a maximum of $10,000, and possible criminal penalties. However, filing your Beneficial Ownership Information (BOI) report will help you avoid fines
Financial Mistakes Wylie Small Business Owners Should Avoid at All Costs
Did you know that 82% of small businesses fail because of poor financial management? As a small business owner, it's crucial that you avoid making any financial mistakes that could jeopardize the health of your company. From poor budgeting to inefficient invoicing to hiring the wrong people, there are a number of pitfalls that can trip you up. In this article, the Wylie Chamber of Commerce explores seven of the most common financial mistakes small business owners make — and how you can avoid them.1.