SOURCE - 

Thomson Reuters 

Thank you FAVOB member Bob Dixon, Arete-Strategies

The Corporate Transparency Act (CTA), enacted in 2021, was passed to enhance transparency in entity structures and ownership to combat money laundering, tax fraud, and other illicit activities. It is designed to capture more information about the ownership of specific entities operating in or accessing the U.S. market.

The law was largely ignored by accounting professionals at first. However, the effective date of the Corporate Transparency Act is fast approaching on January 1, 2024, and people are starting to panic.

Companies are looking for more information on the Corporate Transparency Act, how it affects their operations, and what the details of the reporting requirements are. This presents a unique opportunity for accounting firms and tax accounting professionals to enhance their revenue streams by diversifying their service offerings.

Who does the Corporate Transparency Act affect?

According to a recent Small Business Administration report, 27,104,006 small businesses were termed “nonemployer firms” and had no employees. The Corporate Transparency Act is designed to improve business activity transparency through the reporting of Beneficial Ownership Information (BOI) and is particularly targeted to these smaller businesses.

Who needs to file?

Reporting companies are identified as either domestic or foreign:

Domestic reporting companies are corporations, LLPs, or any other entity created by the filing of a document with a secretary of state or any similar office under the law of a state or Indian tribe.

Foreign reporting companies are a corporation, LLCs, or other entity formed under the law of a foreign country that is registered to do business in any state or tribal jurisdiction by the filing of a document with a secretary of state or any similar office. Sole-proprietorships that don’t use a single-member LLC are not considered a reporting company.

Reporting companies typically include:

• Limited liability partnerships
• Limited liability limited partnerships
• Business trusts

Most limited partnerships, where entities are generally created by a filing with a secretary of state or similar office.

Exemptions include securities issuers, domestic governmental authorities, banks, and many more that don’t fall into the above categories.

Beneficial owners

A beneficial owner can fall into one of two categories defined as any individual who, directly or indirectly, either:

Exercises substantial control over a reporting company, or

Owns or controls at least 25% of the ownership interests of a reporting company.

Having two categories is designed to close any loopholes and ensure all owners are identified. The key difference is that beneficial ownership is categorized as those with ownership interests reflected through capital and profit interests in the company.

The beneficial owners must report to FinCEN their name, date of birth, address, and unique identifier number from a recognized issuing jurisdiction and a photo of that document. If an individual decides to file their information to FinCEN directly, they may be issued a “FinCEN identifier” which can be provided on a BOI report instead of the required information.

Company applicants

Company applicants can only be:

The individual who directly files the document that creates the entity, or the document that first registers the entity to do business in the United States.

The individual is primarily responsible for directing or controlling the filing of the relevant document by another.

This responsibility may fall under the scope of advisory services for an accounting professional. However, the report does not require information on the company applicant. This is an important consideration when defining the scope of engagement for advisory services with a client.

AVET project is hosting a 9-hole golf event to support services provided to Military and veteran families.

Will you join me?  

Live Local - Give Local

Catania's Holiday Party and 3rd Annual Charity Auction 

December 7th, 5-8PM.  2412 Irwin Street Melbourne, FL

Auction proceeds to benefit South Brevard Sharing Center

Featuring Local Bites and Brews from Hell 'N Blazes 

Music by Local Artist, Anja Conklin. 

https://cataniaenterprises.com/event/live-local-give-local-2023/

Come Join Us as we honor our military on Veterans Day and enjoy Brevard County’s “Hidden Jewel” The Brevard Veterans Memorial Center

400 S.Sykes Creek Pkwy, Merritt Island, behind the Merritt Square Mall

• Many Veteran Resources Available
• Tour the Awesome 3 Floor Military Museum

All Organizations Invited to participate

VENDORS WELCOME : If you wish to share your information with your neighbors and community, you are welcome to set up a table at the event, or want to volunteer to help out? Please contact Dorothy Walsh, Event Coordinator at dwalshusa@gmail.com or call/text (321) 426-6736

Come See the Beautiful “Gypsy Vanner” Dancing Horses from Tranquility Country Farms in Mims

Come Early, Come Hungry, and Come help us celebrate the protectors of our American Freedom. 

Events Nationwide Will Highlight Agency’s Efforts to Support Nearly 2 Million Veteran and Military Spouse-Owned Small Businesses

WASHINGTON – Today, Administrator Isabel Guzman, the head of the U.S. Small Business Administration (SBA) and voice in President Biden’s Cabinet for America’s more than 33 million small businesses, announced the SBA will celebrate the 10th annual National Veterans Small Business Week (NVSBW) from Oct. 30 to Nov. 3.

Throughout the week, the SBA, its resource partners, and local organizations across the country will host a series of virtual and in-person events to highlight the entrepreneurial journeys of veteran- and military spouse-owned small business owners and the agency’s support of this important community. Topics include transition assistance, entrepreneurial training, government contracting, disaster assistance, and access to capital. Currently, there are around 100 virtual events that are free and open to the public. View the full schedule and register at  sba.gov/nvsbw.

“For the last 10 years, the SBA has celebrated National Veterans Small Business Week to honor and highlight America’s nearly two million veteran entrepreneurs who have served our nation heroically in the military and now as leaders of their local communities,” said Administrator Guzman. “The Biden-Harris Administration is committed to supporting veterans in every facet of their lives once they return home, and the SBA stands ready to help thousands of transitioning service members, veterans and military spouses get access to opportunity and the American dream through the path of business ownership.”

In addition to its support for veteran-owned small businesses, the Biden-Harris Administration recently announced an executive order to support military spouses, under which the SBA will provide resources, capital and other specialized support to help get their businesses off the ground. The SBA has made a number of key changes in the past year to expand access to capital for veteran- and military spouse-owned small businesses, including:

• Implementing the SBA Veteran Business Certification program, which connects service-disabled veteran-owned small businesses with federal contracting opportunities through a more streamlined and user-friendly process.
• Expanding the Veteran Business Outreach Center (VBOC) program from 22 to 28 VBOCs across the country to provide more resources and support to active service members, veterans and military spouses.
• Overhauling its loan program to expand access to capital for veteran-owned small businesses.
• Launching its new Military Spouse Pathway to Business training program to help military spouses looking to start their entrepreneurial journey. 

Each year, veteran-owned businesses make significant contributions to the U.S. economy, employing over 5 million Americans and generating $1.3 trillion in total sales.

For more information about National Veterans Small Business Week, and to find events in your area, visit sba.gov/nvsbw. Sign up for an event and join the online conversation using the hashtag #NVSBW23. 

Register at https://runsignup.com/Race/FL/Casselberry/TheTrustcoBankVeteranActiveDutyRunForFreedom5K 

Place

95 Triplet Lake Drive
Casselberry, FL US 32707

Description

THE TRUSTCO BANK VETERAN & ACTIVE DUTY RUN FOR FREEDOM 5K
Come together with your friends and family to honor our active and retired Military Veterans on Veteran's Day weekend with a 5k Run or Walk.  This event is set to take place on Sunday, November 12, 2023 at Lake Concord Park in Casselberry, FL!  Participants can enjoy this celebration of Veterans Day as we come together to support our military with a beautiful run in the Casselberry community. The fun continues after the 5k race with a kids run, face painters, a bounce house, music, and recruiters from the ARMY and NAVY!

The 2nd Annual Trustco Bank Veteran & Active Duty Run for Freedom 5k will celebrate our commitment to supporting our military!  Proceeds from the run will benefit the below charities for 2023:

1.  JOSH – Just Our Soldiers’ Helpers. For more information on JOSH please visit their website at www.gojosh.org.
2.  Camaraderie Foundation - For more information on the Camaraderie Foundation, please visit their website at www.camaraderiefoundation.org .
3.  Florida Association of Veteran Owned Business - For more information on FAVOB, please visit their website at www.favob.net .

EVENT VENUE:
Lake Concord Park 
95 Triplet Lake Drive
Casselberry, FL 32707


EVENT PARKING:
Event parking will be located across the street from the venue inside the Petsmart parking lot (4510 S US Hwy 17 92, Casselberry, FL 32707).  Please look for Event Parking signs directing you into this parking lot.

EVENT TIMELINE:
6:30am – Race-day Registration and Packet Pickup opens
8:00am – 5K Run/Walk begins
9:00am -  Race Awards
9:15am – Kids’ Dashes begin

5K RACE AMENTIES INCLUDE:
- A Tech t-shirt for all 5K Run/Walk participants
- Awards for the top 3 overall finishers [male & female]
- Finisher Medal for all 5K participants
- Finisher Swag
- Water and post-race snacks
- Mission BBQ will be serving all participants a FREE breakfast sandwich!
- Bounce houses for the Kids
-  Face painters for the Kids
- Sponsor/Vendor booths

5K RUN / WALK REGISTRATION FEES - 13 & OLDER:
- $30.00 through November 1, 2023 
- $35.00 from 11/2/23 - 11/11/23
- $45.00 Day of the race (if not sold out)*

5K RUN / WALK REGISTRATION FEES - 12 & UNDER:
- $15.00 through November 1, 2023 
- $20.00 from 11/2/23 - 11/11/23
- $25.00 Day of the race (if not sold out)*

MILITARY DISCOUNT - 5K RUN / WALK REGISTRATION FEES - VETERAN & ACTIVE DUTY:
- $15.00 through November 1, 2023
- $20.00 from 11/2/23 - 11/11/23
- $25.00 Day of the race (if not sold out)*
**Must show Military ID at time of packet pickup

 

FAN SUPPORTER AMENTIES INCLUDE:
- A Tech t-shirt for all 5K Run/Walk participants
- Mission BBQ will be serving all participants a FREE breakfast sandwich!
- Bounce houses for the Kids
-  Face painters for the Kids
- Sponsor/Vendor booths

FAN SUPPOTER - SPECTATORS can join in some of the fun!
-$10.00 through November 12, 2023 @ 9:30am

*RACE DAY REGISTRATION PAYMENT WILL BE ACCEPTED VIA CREDIT CARD PAYMENTS THROUGH RUNSIGNUP ONLY!

 

                                                             **** ALL ENTRY FEES ARE NON-REFUNDABLE AND RACE REGISTRATIONS ARE NON-TRANSFERABLE ****

                                                                                           ****************** THIS IS A RAIN OR SHINE EVENT******************

                                                                                       ********NO REFUNDS WILL BE GIVEN DUE TO INCLEMENT WEATHER********

RACE T-SHIRTS:
All participants who register for the 5K event will receive a unisex Tech T-shirt. Sizes are guaranteed through October 21, 2023.

FINISHER MEDALS:
All PAID 5K participants will receive a custom Trustco Bank Run for Freedom 5K themed finisher medal. Children participating in the FREE kid’s dashes will receive a finisher ribbon.

5K AWARDS:
Race awards will go to the top 3 overall male and female finishers in the 5K Run/Walk.  

FREE KIDS DASHES:
We will host a FREE Kids’ dashes following the 5K & the Awards Ceremony. All children must be registered on race day at the registration table. All children participating must be accompanied by an adult and will receive a Finisher medal.  Distances will vary by age group and ability, ranging from 50 yards up to 200 yards.

WEATHER:
Races will be held rain or shine, however, if there is severe weather in the area the race start may be delayed or cancelled. As a reminder, registration fees are non-refundable and non-transferable.

 

SAFETY RULES:
In order to ensure safety of all runners, roller skates and in-line skates are prohibited from the race course. It is VERY important for you to stay alert throughout the race, stay inside cones and obey all race signage. Jogging strollers are permitted but must start in the back.

STROLLERS:
Strollers are allowed. Nurturing future generations of runners/walkers is a priority as is demonstrating healthy lifestyles to our children. We do ask those registrants participating with a stroller to line up after the runners & walkers at the start line. Please listen for directions on where to line up on the day of the race. Only paid registrants of the 5K Run/Walk will receive a finisher medal. If you would like your child to receive a medal, please register for them to participate in the Run/Walk.

PACKET PICKUP INFORMATION:
Early Packet Pickup will take place at TRUSTCO BANK located at 9400 S. US Hwy 17/92, Maitland, FL 32751 from 3pm - 6pm on Friday, November 10th, 2023.

If you are not able to get your packet early, you can opt to pick up your packet at Lake Concord Park in Casselberry on Race Day beginning at 6:15 am. However, please do allow additional time to pick up your packet on race day due to parking and potentially long lines.

Sponsors

Our Beneficiaries of The Trustco Bank Veteran & Active Duty Run For Freedom 5K

The 2nd Annual Trustco Bank Veteran & Active Duty Run for Freedom 5k will celebrate our commitment to supporting our military!  Proceeds from the run will benefit the below charities for 2023:

1.  JOSH – Just Our Soldiers’ Helpers. For more information on JOSH please visit their website at www.gojosh.org.
2.  Camaraderie Foundation - For more information on the Camaraderie Foundation, please visit their website at www.camaraderiefoundation.org .
3.  Florida Association of Veteran Owned Business - For more information on FAVOB, please visit their website at www.favob.net .

 

FAVOB is pleased to announce our first website and FAVOB "Mail Call" sponsor partnership with the Small Business Development Center at the University of South Florida.

The SBDC banner on our home page and Mail Call links to the SBDC services at USF. 

FAVOB and USF are partnering to inform FAVOB members,+9000 social media followers and +2000 Mail Call subscribers of the amazing NO COST services offered to vetean owned businesses.  

Solutions include services to support:

• Growth Acceleration
• Certifications
• Minority-Owned
• Woman-Owned
• Veteran-Owned
• International Trade
• Government Contracting
• Consulting
• Training
• Starting Your Business
• Disaster Preparedness
• Student Teams
• Organizational Development

The Florida SBDC at the University of South Florida is a member of the Florida SBDC Network, a statewide partnership program nationally accredited by the Association of America’s SBDCs and funded in part by the U.S. Small Business Administration, Department of Defense, State of Florida, and other private and public partners, with the University of West Florida serving as the network’s lead host institution.  

Future partnership will be available in the near future.  Contact Stu Smith, CEO at ceo@favob.org 

We wanted to take this opportunity to share that Florida Commerce’s Business Damage Assessment Survey is now open at https://floridadisaster.biz/BUSINESSDAMAGEASSESSMENTS. The responses from this survey will help government agencies determine the short and long term needs of the business community in Florida. Please encourage your members and other partners to take a moment to respond.

The Florida SBDC at USF continues to be a recovery resource for the business community. Our region is comprised of Hernando, Pasco, Pinellas, Hillsborough, Polk, Highlands, DeSoto, Hardee, Manatee and Sarasota Counties. Please share feedback of the business needs you identify and let’s work together on how to best support the businesses in your area recover from Hurricane Idalia.  Our website - https://sbdctampabay.com/resources/#disaster – offers additional resources available to all in our community. No cost appointments with our team can also be requested through the website. The SBDC’s role is to support business owners recover from the effects of the storm, provide them with support as they apply for financial assistance provided by the State of Florida and/or SBA and other financial assistance programs, in addition to offering regular SBDC services post financial assistance building their resiliency. These support services are provided at no-cost to the business community.

Together we will help our business community recover and become more resilient.

We look forward to hearing from you and working with you.

Regards,

 Yanina Rosario, MBA, ABCP

Associate Director

Florida SBDC at the University of South Florida
Muma College of Business

P 813.396.2726
yrosario@usf.edu

Join us as we continue our virtual outreach series focused on NASA KSC Prime Contractors. This hour-long webinar is hosted by the Office of Small Business Programs - Kennedy Space Center. 

Log-in information will be provided after registration, within the Eventbrite confirmation.  We look forward to your participation in our events!   Questions?  Contact NASA OSBP-KSC at ksc-smallbusiness@mail.nasa.gov

Laurie Boehm

Contract Administrator III

Office of Small Business Programs - KSC

Seventh Sense Consulting, LLC

Phone: (321) 867-7353

Email: ksc-smallbusiness@mail.nasa.gov

Website: http://www.seventhsenseconsulting.com/

What We Offer

Our Veteran Home Repair program addresses health, safety, and accessibility issues. NON-EMERGENCY Repairs could include: • roof repair • construction of wheelchair ramp • window and door replacement • flooring repair • plumbing and HVAC repair The home repairs are not free. Beaches Habitat finances the repair with an interest-free loan. The monthly payments are calculated based on income. Inquire Today For more information, give us a call! (904) 595-5806

Home Repair and Modification Services Beaches Habitat’s Home Repair Program helps current homeowners who are struggling to maintain the integrity of their home due to age, disability, or family circumstances Partnering with Beaches Habitat for Humanity will allow you to reclaim your home with pride and dignity.

Who Qualifies? The program is open to honorably discharged veterans of the U.S. military living east of Hodges Boulevard. The home in need of repairs must be the veteran’s primary residence and it must be owner-occupied (no rentals). In addition, the household members must demonstrate need, be willing to partner, and be able to repay the loan. 

Who We Are

Beaches Habitat for Humanity is your local Habitat, one of a network of locally operated nonprofits. You’ll find Habitat hard at work in your community making affordable housing available for those who need it.

Contact Us Veterans Repair Program 797 Mayport Road Atlantic Beach, FL 32233 construction@beacheshabitat.org (904) 595-5806 serving beacheshabitat.org