An update on the BOI

Last week, I went live on Facebook to share an important topic. In the last couple of months, I’ve talked a lot about the Corporate Transparency Act and the Business Ownership Interest (BOI) reporting deadline. The deadline was Jan. 1, 2025. 

Until now. 

A Texas judge has issued an injunction and said the BOI law is unconstitutional.
If you have not filed, I would hold up and wait to see what happens. If you’ve already filed, it didn’t take long and was easy, so there really is no harm. 

Other experts are suggesting as well that you do not file. There is some hope that it will be figured out before the deadline, but I’m not a lawyer and can’t comment about that. 

Unfortunately, many small business owners are just now hearing about the BOI. I started talking about it in my newsletter last spring, but it seems that most who know about it are lawyers and accountants. If you want to learn more about the BOI and how to file if it becomes necessary, visit the official website.

I will try to keep everyone updated on the BOI and what happens with the court hearings. Check out my newsletter and social media for more details!