We’ve made it to the 2024 finish line. For my final blog of the year, I want to focus on something that will help frame your mindset for 2025. But before I do, let me give you YET ANOTHER UPDATE on the ever-flip-flopping BOI reporting requirements.
The BOI reporting deadline was declared null earlier this month when an injunction was placed on the Corporate Transparency Act requirement. Then, in a sneaky pre-Christmas move on December 23, the injunction was removed and the original reporting requirement was resurrected — this time with a new deadline of January 13, 2025 for most reporting companies.
But then… the Fifth Court of Appeals reinstituted the injunction on the BOI reporting requirement on December 26. Anyone else getting whiplash? Or just confused? Yeah, there’s a lot of back and forth on this one.
What you need to know right now is that… at least for now… all BOI reporting is voluntary. No more worry about the penalties (591 dollars/day, possible criminal penalties up to 10k, or 2 years in prison) for not filing.
However, because we’ve seen so much back and forth, my recommendation here is still to be cautious about your next steps. Keep your reporting ducks in a row. Look over my previous writing about the BOI reporting situation for more on how you can be prepared.
If you need help navigating this, or just knowing what’s actually going on with what the government requires of you, give my office a call:
(786) 693-9358
My team and I do not want to see you start the new year unprepared for what could come. But before I get ahead of myself, I’d like to take a moment to savor 2024.
This week – that Twilight-zone lull between the holidays and the new year – is good for more than just holiday leftover concoctions and toy and furniture assembly (with or without the instruction guide).
No, there’s actually an opportunity here for you as a local Southeastern FL business owner.
An opportunity to pause (a rare moment, indeed). Because you’ve been navigating the inflation crisis, supply chain woes, the busy holiday season, the stress that Q4 often brings with it… let’s just say, owning a business involves a lot of moving parts and a wide range of emotions connected to this time of year.
So before getting swept up in the hustle of another new year, let’s not miss this opportunity to… Stop. Breathe. Remember all the good 2024 held. Because when we remember the good, it provokes us toward gratitude.
Now, if you want more than my recommendation, listen to the research: giving thanks makes you happier…
“In one study, they asked all participants to write a few sentences each week, focusing on particular topics.
One group wrote about things they were grateful for that had occurred during the week. A second group wrote about daily irritations or things that had displeased them, and the third wrote about events that had affected them (with no emphasis on them being positive or negative).
After 10 weeks, those who wrote about gratitude were more optimistic and felt better about their lives. Surprisingly, they also exercised more and had fewer visits to physicians than those who focused on sources of aggravation.”
If it worked for them, it’ll work for you and me too. So, let’s try it this week. As you savor the momentary respite, take a little time to offer thanks for TANGIBLE things in your life — people or things that you can actually name… not just some abstract idea of “being thankful” that doesn’t hold any meaning in your daily life.
I know, it sounds cliche. But people talk about it over and over again because it really does bring a measure of peace and contentment.
So, as my team and I gear up for the new year, here are the concrete and real things in 2024 that I’m grateful for. First and most important among them are the amazing Miami Metropolitan clients I get to work with. Somewhere along the journey, you chose to trust us with your business.
That is no small choice, and I don’t take it lightly. On behalf of the Heyer Inc. team, we give you our thanks for that.
Owning a business comes with so many risks — I still remember the exhilarating-but-nerve-wracking experience of going out “on my own.” I’m grateful for the friends and other business owners who helped me along the way. No one wants to go at it alone — especially when dealing with a well-equipped IRS and a shaky economy.
That’s why I’m here. In the midst of the crazy, I get to be (I hope) a steady, reliable source for YOU.
And that’s why I’m proud of what we’ve been able to create around here at Heyer Inc.. I was once the ambitious business owner hoping to pursue my dream. Now, I get to be the one helping YOU pursue YOUR dream.
So, as we prepare for 2025, I wanted to take a moment — as a business owner… and hopefully, as your trusted friend — to express our thanks to you for putting your business in our hands, as well as giving us the honor of serving you. It’s a joy.
As for next week, I’ll be back with another insightful strategy note for you.
Until then… What are some of those tangible things in your life you feel grateful for?
Shoot me a reply with what jumps to mind. Let’s encourage each other this week, as we take some time to slow down and reflect.
With our thanks,
Ralf Heyer