December 3, 2024

the Federal government needs you to fill this out

Haven’t filed your BOI form yet?

January 1st is your deadline!

I’ve been talking about the Corporate Transparency Act for a full year now. But if you’ve been re-alphabetizing the spice cabinet to avoid this 10-minute task — now’s the time to face it like an Apple Cider Vinegar shot, and get the dang thing over with. ????

I’ll link to my video walkthrough in a sec.

That way, you and I can knock it out right now. Literally. Right now.

I don’t want a guilt tsunami washing over you while you should be gobbling latkes, reading the Polar Express to your 5-year-old, or knocking back Vanilla Eggnog by the quart.

You and I are gonna get this over with now.

But first — a quick overview of what-the-heck I’m talking about:

What’s the Corporate Transparency Act?

It’s a new law that went into effect on January 1st 2024. This law requires most U.S. business owners to register their ownership information with the Federal government by submitting a BOI Report.

It’s nothing more than us telling them, “hey yeah, this is my business. I’m the one who owns it.” ???? The Feds just want to capture more ownership info from us, so they can better avoid illicit activity like tax fraud.

How do I know if I need to file a BOI Report?

There are some businesses that won’t need to file one. But since you’re in the online business space, you likely do.

Go ahead and check out this list of exemptions to confirm that for yourself.

I haven’t started my business yet. Do I still need to do this?

No, not yet. If you register your business on or after January 1st 2025, you’ll need to report within 30 days after receiving notice that your business registration is effective.

Can you walk me through how to do this?

YES. Click here to access my BOI registration guide.

It will take you 10 minutes tops! Now go get it done. ????

Subscriber Question of the Week

“Why shouldn’t I use the shop policy that’s built into Etsy?”

Because I strongly suggest using your own. Here’s why:

When e-commerce platforms like Etsy, Shopify, WooCommerce etc. provide you with a shop policy, the terms are typically pretty general. They rarely cover the specifics of your business. When you default to them, you’re automatically pigeon-holed into terms the platform created that don’t reflect the way YOU want to do business.

What’s worse? Generic shop policies are usually gaping with holes, leaving you wide open to a lawsuit at worst, or constant legal headaches at best.

Having your own shop policy helps you clearly communicate (and enforce) ALL your desired policies around refunds, returns, shipping, exchanges etc. It also ensures you’re covered by establishing all legal disclaimers, relevant to your unique business.

Grab your Sam-approved shop policy template right here.

Got a legal question? Submit yours here →

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Links You’ll Love

If you’ve been following along, you know we recently pulled off a $308k launch. That revenue came in over 5 short days. And the whole thing happened during the sh*t sandwich that was one slice: The Election and one slice: Our impossible-to-keep-up-with Marketing Landscape.

The first 2 parts of my “Secrets to a $300k Launch Series” are officially out:

Read/Listen to “Part 1: Your Step-by-Step Guide to Launch Planning” here.

Read/Listen to “Part 2: From Sign-up to Show-up: Launch Success Tips here.