Last year I wrote about the new FinCEN reporting requirement that would go into effect in 2024. Now, companies are required to report information pertaining to the individuals who own or control them, both actual owners and beneficial owners. There are exemptions, but those are primarily for companies that already report financial and other information such as banks, securities brokers and dealers, insurance companies, and certain large operating companies. The reporting requirement applies to corporations, LLCs, and other business entities.

Effective September 1, 2024, Texas will have a new court system for resolving certain business disputes.  The goal of the enabling legislation is to have specialized trial and appellate courts to determine large and complex business disputes with the hope of expediting proceedings, have the disputes resolved by judges with expertise, and deliver more predictable outcomes for businesses.

This article discusses two more scams and frauds that all business owners should protect against.

A couple of weeks ago, I wrote about the various types of scams targeting businesses, and tips to avoid them. This morning I received some documentation on a real estate deal that I have been working on, and it came with a wire fraud warning that I thought was worth passing on. While the alert references real estate transactions, it is applicable to any transaction that requires wiring funds.

There has been a lot in the news lately about scammers targeting the elderly and others, but did you know that scammers are actively targeting smaller businesses to try to separate you from your money?  The truth of the matter is that scammers will look for any weak opening through which they can steal money, and once they have the money there is virtually no way to recover it.  The following is a list of common scams targeting smaller businesses and tips on how to avoid them.