CTA Overview We wanted to provide you with recent updates on the Corporate Transparency Act (“CTA”). Under the CTA, FinCEN (the “Financial Crimes Enforcement Network of the U.S. Treasury”) is required to develop a nationwide database of private company “beneficial owners”. The CTA requires every company in the U.S. to file beneficial ownership information (BOI) […]
In the whirlwind of running a business, it’s easy to overlook some of the more mundane aspects of operations—contracts being one of them. Yet, contracts are foundational to business success and stability. A well-negotiated and carefully drafted contract clarifies relationships, expectations, and protects your business from significant risks. Conversely, a poorly constructed contract or oral […]
As a follow up to our blog post entitled “Corporate Transparency Act Overview” on July 18, 2024, today’s post focuses on some specifics about the Corporate Transparency Act that business owners will need to know as we enter into the final quarter of 2024. Changes to Due Date for Initial Report for New Business […]
As a business owner, you rely on your lawyer for sound advice on various legal and business matters. However, may be instances when the guidance you receive falls short of your expectations. It’s crucial to distinguish between a a misinformed opinion and potential malpractice. Here’s how to distinguish between well-intentioned guidance and a genuine lapse […]
Defining Legacy What do you want to be remembered for? At Mavacy, we believe a legacy is more than just a footnote in history—it’s the enduring influence or contribution you leave behind. It’s your indelible mark on the world, shaping the future through your innovative actions, decisions, and approaches that set you apart from the […]
As attorneys, we dedicate our careers to serving our clients, upholding justice, and ensuring that the rule of law prevails. However, we must also prepare for the inevitable transitions in our professional lives. Unfortunately, so many attorneys fail to think about this – similar to the proverbial tale of the cobblers kid’s shoes being the […]
This article is part of a series of articles regarding the Corporate Transparency Act (“CTA”). You may have recently heard a lot about the CTA, this article highlights some of the frequently asked questions we receive regarding the CTA. What is the CTA? In 2020, Congress passed the Corporate Transparency Act (“CTA”). Under the CTA, […]
In the world of law, the image of the high-powered attorney effortlessly juggling cases while living a life of luxury is a common trope. However, the reality is far less glamorous. The practice of law is often grueling, taking a heavy toll on lawyers’ well-being and, consequently, the quality of service they provide to their […]
Most people go through life without doing anything really hard. Sometimes the low-hanging fruit is the only fruit that we end up picking. But what about the hard things — the things that seem almost impossible? Should we try to do them? And if we try, will we be able to actually do them? Should we be […]
There is one trait that is in demand, nearly everywhere and in every arena. Though it doesn’t have much flash or sizzle, it is the bedrock of all great leadership. It is the one ball, that if dropped, doesn’t bounce. It breaks. It is the glue of every relationship, organization, and endeavor. It needs constant […]
When Henry Kissinger served as the Secretary of State in the United States, a new analyst started at the state department. The young analyst spent an incredible amount of time drafting a report. After working hard, he left the report for Mr. Kissinger. Later that day, Kissinger left the report on his desk, with a […]
Navigating Equity Grants and Section 83(b) Elections for Startups When launching a business, it is common for founders and employees to receive equity grants and stock options as part of their compensation packages. These equity incentives allow recipients to share in the company’s growth and success. However, understanding the tax implications of equity grants and […]
For privately held companies, raising capital is a crucial step towards achieving growth, expanding operations, and meeting long-term goals. However, this process can be fraught with challenges and regulatory complexities. In this article, we delve into the critical factors influencing a privately held company’s fundraising efforts and the guidelines for compensating individuals who assist in […]
