This month’s Business Bytes highlights the Corporate Transparency Act, employee checklists, and affluenza.
Corporate Transparency Act. Almost all small and medium size businesses (revenue under $5,000.00 and under 20 employees) and their owners (25% or more) must file Beneficial Ownership Information with the U.S Treasury’s Financial Crimes Enforcement Network by December 31, 2024. This one-time filing needs only to be updated if the required information reported changes. READ MORE.
Employee Checklist. Rapidly changing state, federal and local employment laws and regulations make it difficult for employers to keep their policies and procedures in compliance. A checklist identifying some required employment policy updates can help. READ MORE.
Affluenza. Children of affluent families that engage in bad conduct are sometimes deemed to have “affluenza,” a condition expressed by drug addiction, illegal actions, excessive hedonism, narcissistic behavior, and other conduct unacceptable to their parents. Besides addressing the immediate situation, hiring a criminal lawyer, providing counseling, and entering drug rehabilitation, good parenting may also require employing appropriate wealth and asset management strategies to help them become and remain full functioning and capable adults. READ MORE.
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