The Financial Crimes Enforcement Network (FinCEN) has issued an interim final rule that modifies the reporting obligations under the Corporate Transparency Act (CTA). This development primarily affects U.S. companies and individuals, altering the requirements of beneficial ownership information (BOI) reporting. Revised Definition of Reporting Company Under the…
LMC would like to welcome our recent new hires! We are thrilled to introduce our new employees and excited to have the following people join our growing team: Caleb Galoozis – Chief Growth Officer We are excited to welcome Caleb Galoozis as our Chief Growth Officer. He…
We’re excited to introduce Aiwyn, our new online payment platform, which enhances efficiency and simplifies the invoice payment process. Below is a guide on how to navigate the payment process, in addition to a helpful overview video of the LMC Client Payment Portal. How to Pay Your…
The Financial Crimes Enforcement Network (FinCEN) has announced an extension of the Beneficial Ownership Information (BOI) deadline, with enforcement actions on hold until further notice. The previously set March 21, 2025 deadline is no longer in effect, and a new deadline will be established through an interim final…
With the Trump administration’s emphasis on saving taxpayers money and curtailing government waste, the debate over eliminating the penny has resurfaced with the recent directive to halt new penny production. Supporters see this as a cost-saving measure, while others worry about its impact on pricing and cash transactions….
Written by Jeffrey S. Gold, CPA LMC Tax Director Last month, The Bottom Line discussed the general rules for required minimum distributions (RMDs) from retirement accounts. In this article, we will discuss the more complex RMD rules that apply to retirement accounts that pass to a beneficiary after…
This January, through Ascend’s first-of-its-kind equity program, high performing managers and senior managers at LMC had the opportunity to become owners of Ascend alongside the firm’s partners. Ascend’s model has made it possible for our young talent to invest in their financial futures without the traditional long wait…
LMC is incredibly proud of our outstanding employees for their dedication to both the firm and our clients. This past month, LMC team members took part in the following events: Rolled Ice Cream Event On the afternoon of February 6th, LMC hosted a freshly rolled ice cream…
Why Warehousing is Becoming More Expensive As industrial real estate prices remain stubbornly high, warehouse tenants on both the east and west coasts are bracing for significant increases in lease renewal costs. These increases have a direct impact on the cost of warehousing. Many businesses that signed agreements…
The Financial Crimes Enforcement Network (FinCEN) has recently announced that BOI reporting is back on, and most businesses required to report Beneficial Ownership Information (BOI) under the Corporate Transparency Act (CTA) must file by March 21, 2025. This follows a February 18, 2025, ruling by the U.S….
