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Articles Tagged with Small Business 2021

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CTA – Federal Reporting Requirements for Small Business

The paper work for many small businesses will be increasing.

Many small businesses with 20 or fewer employees and $5 million or less in gross receipts or sales will be subject to new federal reporting requirements under the Corporate Transparency Act (“CTA”), a section of the National Defense Authorization Act enacted on January 1. This will include both those formed in the U.S., whether through a state or an Indian nation, as well as those formed outside the U.S. but registered to do business here.

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How to Prepare for 2021

Wow, 2020 was a year to forget! I hesitate to say it was interesting because it was not. It was more like a nightmare as we coped with a public health crisis, an economic crisis, a political crisis, and a civil rights crisis. Let’s put 2020 in a lead box and drop it in the deepest part of the ocean!

Unfortunately, the pandemic has forced a number of businesses to close. Some businesses have actually thrived and others have adapted and are working diligently to succeed. Mostly, it has altered how businesses operate and tested our resilience. Some people have learned that working remotely is a viable alternative, while others have found themselves struggling to survive in a world which places demands on the use of technology to survive.