December 28, 2023
Starting from January 1st, 2024, new reporting rules are coming into play. If you have ownership stakes exceeding 25% in any entities where you wield substantial control, it's time to step into the spotlight.
If you're a publicly held company or a larger entity, you might be exempt from these changes. But for the smaller businesses, mom-and-pop shops, and family-owned ventures, brace yourselves. You're about to get up close and personal with some serious paperwork.
Details needed for reporting include entity information and beneficial owners holding more than a 25% stake. Existing entities have until January 1st, 2025 to report, new entities formed in 2024 have a 90-day window. After 2024, only 30 days to report beneficial ownership for newly formed entities.
Uncertainty on who can help navigate these requirements, updates will be provided. Remember, knowledge is power in staying compliant with business regulations.
Stay tuned as we navigate these new regulations together. We'll explore our options, understand the changes, and ensure our campground businesses continue to thrive amidst the ever-changing landscape of business regulations. Ready to turn your grand vision into a thriving reality? Let's dive in!
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Donna Bordeaux, CPA with Campground Accounting
Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly, and knowledgeable can be a part of your relationship with your CPA, as demonstrated by Donna and Chad Bordeaux. They have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help businesses earn many times more profit than the average business in the same industry and are passionate about helping industries that help families build great memories.