Table of Contents

• BOI, BOI, BOI!

• Client Happy Hour featuring Mike Tyson

• Tax Planning Cohort

• 1099s

• Investment Opportunity

• Happy Holidays from the crew

BOI, BOI, BOI!

We’ve been talking about this for what feels like forever, but the time is finally here. Beneficial Ownership Information (BOI) reporting is officially on your to-do list. Despite my relentless reminders (and newsletter mentions and here ), I know most people are still scratching their heads over this. So, here’s the need-to-know version, boiled down to the essentials.

1. What is BOI Reporting?

The Beneficial Ownership Information (BOI) report is a filing required by FinCEN (the Financial Crimes Enforcement Network, a bureau of the Treasury Department). Its purpose? To identify the real owners behind LLCs and corporations, fight money laundering, and prevent shady financial dealings.

Think of it as pulling back the curtain to show who’s really running the show in your business.

2. Who Needs to File and When?

• For Existing Entities:
  If your LLC or corporation was formed before January 2024, you have until January 1, 2025, to file your BOI report.

• For New Entities:
  Forming an LLC or corporation on or after January 1, 2024? You have 30 days from the date of formation to file.

3. What Information is Reported?

Your BOI report must include:

• Entity Details: Basic info about the company (name, address, EIN, etc.).

• Beneficial Owners: Details of anyone who owns 25% or more of the company or exercises significant control.

• Ownership Changes: Updates if and when ownership or control shifts.

4. What Happens if I Don’t File?

Ignoring this isn’t a great idea. Non-compliance can lead to:

• Fines: Up to $10,000.

• Imprisonment: Up to 2 years.
  The stakes are high, so don’t sleep on this!

5. What’s This About a Court Order?

Recently, there’s been a twist:

What Happened?
A federal district court in Texas issued a temporary injunction to stop enforcement of the Corporate Transparency Act (CTA), which mandates BOI reporting. But don’t celebrate too soon—this is just a temporary measure, and the legal process isn’t over.

Why the Decision?
The court ruled that the CTA likely overstepped constitutional limits by infringing on privacy rights and imposing compliance burdens without enough justification.

What Does This Mean?

• For now, there won’t be penalties for failing to comply with the BOI reporting requirements while the injunction is in effect.

• However, this could change quickly depending on appeals or legislative adjustments.

Next Steps in the Legal Process:

• Appeals and Higher Courts: The DOJ plans to appeal, which means a higher court could uphold, overturn, or modify the injunction.

• Policy Adjustments: Congress might tweak the CTA to address constitutional concerns, potentially reshaping compliance requirements.

What We Recommend:
At P&C, we are still advising clients to FILE THE BOI REPORT. Until FinCEN provides clarity, it’s better to comply and avoid future headaches.

6. Who Do I Report To?

The BOI report is filed with FinCEN, the bureau responsible for safeguarding the financial system against money laundering, terrorist financing, and other financial crimes.

7. How Do I File?

Here are your options:

• Paid Services:

  • Bhojani Law: Our friends and clients over at Bhojani Law are taking care of this for anyone that needs help. You can reach out to Christina at [email protected] to get more information.

  • Online - We’ve vetted and partnered with BOI Efile, a trusted service that handles everything for you. If you prefer convenience and peace of mind, this is your best bet.

• DIY Option:
  Feeling brave? You can file it yourself online via the official portal:
  https://boiefiling.fincen.gov/boir/html.

• Need Help?
  I’ve got your back! Join our exclusive P&C Collective where I share a step by step video of how to file BOI - https://pcac.circle.so/checkout/pandc-advisory-collective-group

Client Happy Hour featuring Mike Tyson

A huge thank you to all our clients who joined us at Bar Louie on November 14th! It was such a treat to enjoy a drink and chat outside the usual setting of tax and accounting meetings. Our team loved getting to connect with so many of you, and we can’t wait to do it again soon.

When our event committee planned this night, they worked hard to find a venue that would comfortably accommodate everyone and offer hassle-free parking. They even checked the calendar at Toyota Music Factory next door and confirmed it was clear. But, as luck would have it, a last-minute scheduling change moved the Tyson/Paul Netflix fight weigh-in right next door to our event!

Now, I’d love to tell you Tyson swung by our gathering for some photo ops, but alas, it was just us. (Though that might explain some of the parking challenges!) Despite the unexpected chaos, it was a fantastic evening thanks to our amazing team and clients.

Hats off to our staff for organizing such a fun event, and a heartfelt thank you to all who took time out of their busy schedules to spend it with us. Mark your calendars for 2025—it's my 20th anniversary managing the firm, and we’re planning something truly special to celebrate. Stay tuned!

Tax Planning Cohort

We’ve just wrapped up an incredible 8-week Tax Planning Cohort with the P&C Advisory Collective! If you were part of it, you know just how transformative it was. Over the course of eight weeks, we hosted webinars packed with strategies that have collectively saved our clients over $32 million in the last five years.

Here’s a glimpse at what we covered:

• 5 Ways to Reduce Your Taxes

• Understanding Business Entities and Their Tax Implications

• Tax Policy Under the Trump Administration

• Proper Accounting and BOI

• Real Estate Tax Strategies

• Lucrative Charitable Land Donations for High-Income Earners

• Estate Taxes

• Navigating an IRS Audit

The best part? You can still access all of this! When you join the Tax Planning Cohort, you’ll get the complete library of past sessions.

But we’re not stopping there. Through this platform, we’ll continue to cover even more topics to help you succeed, including:

• Making Your Business More Profitable

• Key Performance Indicators (KPIs) for Success

• Advanced Tax Planning Strategies

• A monthly Q&A with our firm’s leadership where you can ask anything.

If you’re ready to join the group and tap into these resources, you can sign up here. And if you’d like a more personalized approach, we offer ongoing one-on-one support to meet all your tax and accounting needs, click here .

Both options come with a 3-day trial. Dive in, explore the value, and if it doesn’t meet your expectations, you won’t pay a dime. Our goal is simple: to ensure the value you gain is ten times what it costs.

Don’t miss out on this opportunity to take your tax strategy to the next level!

1099s

If you need assistance filing your 1099s, please contact our project coordinator, Mariza Malagon, at [email protected]. She’ll ensure your request gets to the right team member.

Our accounting department, led by Melissa Armstrong, will handle the preparation and filing this year. To ensure everything is filed on time, we have a submission deadline of January 15th for all necessary documents. Submissions received after this date may incur additional fees.

If you have questions or are ready to get started, don’t hesitate to reach out to Mariza. Let’s get those documents in and ensure a smooth filing process!

Investment Opportunity

Looking for an exciting investment opportunities We have two !

Providence Village Square -

James Johnson and Sheehan Rahman of Canon Fund are presenting Providence Village Square, a mixed-use retail development in Prosper, Texas. Located at the bustling corner of Fishtrap and Main Street in Providence Village, this project is poised to serve the rapidly growing residential community while avoiding the congestion of US 380.

Key highlights include rapid residential growth in the North US 380 corridor, a strong retail demand in the Providence Village area, and a Q3 2025 delivery timeline—perfect for capitalizing on market trends. With options for build-to-suit, speculative retail, pad sales, and leases, this development offers flexibility to meet diverse investment goals.

Interested? Reach out to learn more about this exceptional opportunity or check out their webinar we hosted for them - Webinar

Camden Crossing -

Interested in a MultiFamily deal? Our friends and clients at Elevate are raising capital for a Class A 144 unit project in Burleson , Tx.

Why We Love This Opportunity:

1. Strong Initial ROI

2. Property Tax Exemption: The deal is structured with a Housing Finance Corporation, providing a 100% property tax exemption—boosting NOI by $500K annually, adding $8.3M in exit value, and increasing investor cash flow.

3. Competitive Pricing:

   • Purchase Price: $160K per unit

   • All-In Cost: $184K per unit

   • Comparable new builds cost $200K–$230K per unit.

4. Direct Purchase with Seller Financing: Acquiring directly from the developer simplifies the process and adds value.

Let us know if you’re interested in sharing this or have questions and we will connect you!

Happy Holidays from the crew

A heartfelt thank you to our amazing clients for hosting lunches for our office! Your thoughtfulness and generosity mean so much to our team, and we truly appreciate you taking the time to show your support. It really makes a difference and goes a long way—thank you!

From all of us to you. Happy holidays !