Blue Sky Law

BOI Reporting Update – What You Need to Know ‼️ As of December 26, 2024, the Fifth Circuit Court of Appeals put the brakes on the BOI reporting deadline once again. So, for now, companies are not required to file their Beneficial Ownership Information (BOI) reports, though companies can still choose to file voluntarily.    What should you do? Unless a company chooses to file BOI voluntarily, there is nothing to do right now other than to stay in touch with your legal team and keep an eye on any new updates from FinCEN or the courts. If the injunction gets lifted, as it has already once in the past, we expect the government to provide a few additional days for filing compliance as it has previously. Please like and share this information from Blue Sky Law to help fellow business owners! #BlueSkyLaw Mitesh Patel Barton Black Ephraim Michael Angelina Kim Whitaker Kerri Moerschel

One Shot to Get It Right! Are you preparing for your business exit? As a business owner, you may only go through the exit process once, so it’s essential to get it right. Ask your current advisors (CPA, financial planner) what you should be doing and who else should be on your team. While they’ll still be a key part of the process, you’ll likely need additional support to ensure a smooth and successful transition. Start planning now and give your business the best shot at success. Watch the full webinar with Mitesh Patel, Meredith C. Moore and David Hern, CPA, ABV, ASA, CEPA for more insights. Full webinar link included in comments. #BusinessExit #ExitStrategy #Entrepreneurship #BusinessPlanning #BlueSkyLaw

Did you know most business owners don’t know the market value of their company? 🤔 Whether you’re considering selling or just planning ahead, understanding your business’s worth is crucial. Many owners have wildly different ideas about their company’s value, especially when there are multiple equity owners involved. Mitesh Patel of Blue Sky Law explains why getting a professional business valuation is one of the first steps you should take. Just like you wouldn’t sell your home or car without knowing its market value, your business deserves the same attention. Watch this clip for valuable insights on why a business valuation should be your starting point for future planning. Stay connected and learn more about Blue Sky Law services:  Website: https://www.blueskylaw.com Instagram: https://lnkd.in/egBQ8UBQ Facebook: https://lnkd.in/eQ8wPt_H LinkedIn: https://lnkd.in/eUfUr3ga For more webinars and expert advice, subscribe to our YouTube channel! #BusinessValuation #CompanyWorth #ExitStrategy #Entrepreneurship #BusinessSuccess #BlueSkyLaw #MiteshPatel 4o mini

Are you leaving money on the table when selling your business? In our latest webinar clip, Mitesh Patel from Blue Sky Law discusses how many business owners fail to maximize the value of their companies during a sale, especially in the middle market. With annual revenues between $40 million to $65 million, Blue Sky Law helps clients navigate mergers and acquisitions, ensuring they don’t miss out on what’s rightfully theirs. Watch the full video on our YouTube channel to discover how to avoid leaving money on the table during your business exit! [Watch Now on YouTube @BlueSkyLaw or IG link in BIO] #BusinessSale #MergersAndAcquisitions #MaximizeValue #BlueSkyLaw #BusinessSuccess #Entrepreneurship #BusinessGrowth #MiddleMarket #ExitStrategy #BusinessOwner

Are you leaving money on the table when selling your business? 💰 In our latest webinar clip, Mitesh Patel from Blue Sky Law discusses how many business owners fail to maximize the value of their companies during a sale, especially in the middle market. With annual revenues between $40 million to $65 million, Blue Sky Law helps clients navigate mergers and acquisitions, ensuring they don’t miss out on what’s rightfully theirs. 👉 Watch the full video on our YouTube channel to discover how to avoid leaving money on the table during your business exit! 🎥 [Watch Now on YouTube @BlueSkyLaw] #BusinessSale #MergersAndAcquisitions #MaximizeValue #BlueSkyLaw #BusinessSuccess #Entrepreneurship #BusinessGrowth #MiddleMarket #ExitStrategy #BusinessOwner

ATTENTION BUSINESS OWNERS: Court Blocks Burdensome Beneficial Ownership Reporting Requirements for Small Businesses! Thank you to Blue Sky Law attorney, David Klain Goldberg for this informative update below: In a significant victory for small businesses, the U.S. District Court for the Eastern District of Texas has granted a preliminary injunction blocking the enforcement of the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) reporting requirements. The ruling comes just weeks before small businesses were due to comply with the CTA, which mandated the disclosure of sensitive ownership information to the U.S. Department of Treasury. The lawsuit, filed by the National Federation of Independent Business (NFIB), argued that the CTA infringed on constitutional rights, including privacy and the First and Fourth Amendments. The Court’s decision gives small business owners across the nation a temporary reprieve from these burdensome reporting requirements, which NFIB had criticized as an unnecessary invasion of privacy and a waste of valuable time. For businesses concerned about compliance with the CTA, this decision offers much-needed relief, but it is important to stay updated on any future legal developments related to BOI reporting. At Blue Sky Law, we are committed to providing businesses with the latest legal guidance to navigate complex regulations like these. To join the #BSL newsletter that provides these important updates, click here- https://lnkd.in/eF5afTzg? Barton Black Mitesh Patel Angelina Kim Whitaker Kerri Moerschel Ephraim Michael

Did you miss the important webinar: Preparing for a Successful Business Exit? You can still watch the webinar in its entirety by visiting the #BlueSkyLaw YouTube link below. In this insightful webinar, Mitesh Patel from Blue Sky Law, along with business valuation expert David Hern, CPA, ABV, ASA, CEPA and Artisan Financial Strategies expert, Meredith C. Moore, guides business owners through the complex process of planning and executing a successful exit. Whether you’re thinking of selling now or in the future, this webinar offers valuable, actionable advice on how to maximize the value of your business when it’s time to exit. Key Takeaways: 💡Learn the top mistakes business owners make when trying to sell their companies. 💡Understand the legal considerations for a successful exit, with Mitesh Patel offering expert legal insights. 💡Discover the best practices to maximize the amount you get for your biggest asset. With tips and strategies to navigate the exit process with confidence, this webinar is a must-watch for any business owner looking to make the most of their company sale. Follow the link below and learn more! https://lnkd.in/ew5ascYw #BlueSkyLaw #ExpertValuation #BusinessOwner #BusinessExit

Thinking about selling your business? One key to getting top dollar is making sure your company can run smoothly without you. In our latest video, Mitesh Patel of Blue Sky Law shares why it’s essential for CEOs to delegate tasks and have a strong team in place during the sales process. Find out how bringing in the right internal support can help maintain company performance and ensure a successful sale! 🎥 Watch the full set of videos here, or the link in BIO: https://lnkd.in/eDjVWvj3 #BusinessSale #MaximizeValue #BusinessGrowth #Entrepreneurship #BlueSkyLaw #BusinessOwner #CompanySale #BusinessStrategy

✂️You should FIRE YOURSELF! Mitesh shares an unconventional tip when selling your business: consider "firing yourself" as the CEO. This doesn't mean leaving your company; instead, it’s about reducing your day-to-day involvement to create a business that can operate independently. If your company relies solely on you, it can be challenging to maximize its value during a sale. Mitesh Patel, principal partner of Blue Sky Law, advises building a robust middle management structure that allows the company to function without the CEO's constant presence. By implementing these changes, you’ll not only improve the business's operational efficiency but also enhance its value to potential buyers. This strategic approach can significantly impact your company's valuation and position in the market. Visit the Blue Sky Law blog page for more tips- https://lnkd.in/eR738S-d #BlueSkyLaw #BusinessOwner #Entrepreneurship #CorporateLaw #BusinessGrowth #Leadership #AtlantaBusiness #ATLEntrepreneur #BusinessSuccess #GeorgiaBusiness #BusinessStrategy

In this Blue Sky Law latest video, Mitesh Patel dives into the critical role of business brokers and investment bankers in the selling process. Discover why having these specialists on your side can make all the difference when it comes to securing the best price for your business. Are you ready to take your company to market? Don’t miss these invaluable insights! Check our You Tube page for more information! 🎥 Watch now: https://lnkd.in/eDjVWvj3 #BusinessBrokers #InvestmentBankers #MaximizeValue #BlueSkyLaw #SellingYourBusiness