BOI, or Beneficial Ownership Information Reporting, is now a must-do for most businesses. If you don’t follow the rules, you could face a $10,000 fine and up to two years in prison. Also, if someone breaks the BOI reporting rule on purpose, they could get a civil fine of $591 for each day...

Today, we're talking about the New Corporate Transparency Act, which affects most small business owners. It's also referred to as, BOI Reporting, which stands for Beneficial Ownership Information.

The stakes are very high with compliance as overlooking these regulations can lead to a significant...