BFSG Blog

Financial Resources & News

The Corporate Transparency Act: New Reporting Requirement for Small-Medium Sized Businesses

On January 1, 2024, the Corporate Transparency Act (“CTA”) comes into effect, requiring more than 30 million small and medium sized businesses to report ownership information to the Financial Crime Enforcement Network (a unit of the Department of Treasury, known as FinCEN). The CTA is designed to enhance transparency into entity structures and to fight money laundering, tax fraud, the financing...

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8 Exit Strategies for Business Owners

By:  Paul Horn, CFP®, CPWA®, Senior Financial Planner Small business owners are the backbone of our economy and employ 48% of today’s workforce. Being a business owner is difficult and finding the right help can be even more challenging. Every business owner at some point will need to carefully consider how they plan to exit the business. Below are the eight most common ways for an owner to exit...

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The Power of the Entrepreneur

Big businesses may dominate the stock market, but it is small businesses and startups that keep our economy moving. Find out how small businesses are the lifeblood of the U.S. economy and how BFSG can help business owners by watching this short video by clicking here.

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The 8 Exit Strategies for Business Owners

Do you have an business exit plan strategy? 1. Transfer the company to a family member(s) – This seems like the easiest choice for many owners but there are several considerations like potential family issues, children(s) ability to run the company and this exit strategy may not provide sufficient cash payouts in retirement. 2. Transfer to a key employee(s) – This exit strategy provides...

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