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Reporting Deadline Extended for LLCs and Corporations

The deadline for most reporting companies to file beneficial ownership information (BOI) reports was extended to Jan. 13, 2025.

As a follow up to an earlier email sent to Capstone clients, many small businesses now have more time to file beneficial ownership information with the Financial Crimes Enforcement Network (FinCEN). The deadlines vary depending on when the reporting business was created or registered, but those for some categories have been extended by several weeks.

These updates were made after the latest development in a legal battle over these reporting requirements — a Dec. 23 federal court of appeals decision that reinstated the reporting requirement after a Dec. 3 decision by another court imposed a preliminary injunction. The deadline for most reporting companies to file beneficial ownership information (BOI) reports was extended to Jan. 13, 2025. 

Click here for more information and to file a Beneficial Ownership Information Report. 

Update on Social Security Benefits

In an email sent by Capstone on 12/23 titled “Early Christmas Present for PERA Employees” we shared how the passage of the Social Security Fairness Act represents a significant victory for public sector retirees in Colorado and across the country. Here’s a brief recap and update:

•The bill would eliminate two key Social Security provisions that reduce benefits for government employees who have certain types of pensions.

•Passing this law would increase benefits for millions of Americans, but it will also accelerate Social Security's funding shortfall.

•As of 12/27, the legislation has cleared the House and Senate and is awaiting President Biden’s signature.

We'll keep you posted on how this plays out. Also see the CBS News report: 

Coloradans hopeful for Social Security benefits through new federal legislation

Retirement Plan Changes for 2025

Reminder: Starting in 2025, there are several new provisions of the SECURE Act 2.0 going live for US workers. This federal legislation is designed to make it easier for Americans to manage and contribute to tax-advantaged retirement plans. Learn more here and reach out to us to see how these changes affect you and your financial future. 

More Colorado Headlines:

Colorado experts predict what the state’s economy will look like in 2025

Get set for these Colorado laws to take effect in 2025

Denver man finds mystery driver on his auto insurance policy:

A reminder to closely examine your insurance policy and statements

Let Your Fruitcake Fly! Jan. 25, Noon-3pm

The Manitou Springs Great Fruitcake Toss is a whimsical spectacle of hilarity and high-flying fruitcakes that has become a cherished tradition, blending the absurd with the festive, and turning a holiday treat into a catapulted masterpiece. This year’s event takes place on January 25, from Noon-3pm. Get details here.

Capstone built our reputation on friendly service, impeccable honesty, and respect for every client. Our clients’ needs drive our relationship, and the focus is always on you. We strive to be highly responsive to your requests and are skilled at creating solutions customized to your goals, values, and situation.  Reach out anytime with questions. We're happy to help!

Capstone Investment Financial Group, LLC

Colorado Springs/Denver

719-477-9883

info@capstoneinvest.com