by dmaadmin | Aug 26, 2024 | Client Features
“Quality work ensures that every car goes back to its owner better than when it came to us.” – Mark Quelle, Owner In a world full of franchises and corporate entities, it can be tough for a ‘Mom and Pop’ small business to keep up. Yet, that is not the case for our featured client, Sparkle Auto Body. We recently had the pleasure of interviewing the owner and founder, Mark Quelle, who tells us more of their story and what he loves most about leading his team at Sparkle Auto Body. A Brief History of Sparkle Auto Body Mark Quelle first acquired Sparkle Auto Body in 2002 with the assistance of a Small Business Association (SBA) loan. And thanks to growing demand, they were able to expand to a second location in 2020. Opening a second location and during the start of the pandemic may have been seen as a risky move, yet for Sparkle Auto Body, it was an opportune time. Quality Over Quantity While many shops seek to gain numbers (the more cars to service quickly, the better), Sparkle Auto Body seeks to maintain its high level of quality – quality collision and body repairs, quality customer service, quality products. As owner Mark Quelle puts it, “We do great repairs and often find that customers come to us for a second opinion or to ‘fix’ a repair from another body shop. Quality work ensures that every car goes back to its owner better than when it came to us.” And that quality expands to employees as well. While they have expanded to a second location, they are...
by Blair Butters | Aug 5, 2024 | Tax Planning
At the beginning of 2024, the U.S. Government started requiring U.S. companies and many small businesses to file Beneficial Ownership Information (BOI). In this blog post, we detail the following BOI information, so you know where you and your company stand: What is Beneficial Ownership Information (BOI)? Who needs to file? When are the filing deadlines? Recent Legal Changes How to file a BOI As always, contact your Accounting and/or Legal counsel for information specific to your company. What is Beneficial Ownership Information (BOI)? Beneficial Ownership Information refers to data that identifies the individuals who ultimately own or control a legal entity (think corporations, LLCs, and other similar entities). The purpose of collecting this information is to prevent and combat money laundering, terrorist financing, and other illegal activities that can be facilitated through anonymity in corporate structures. The Corporate Transparency Act (CTA), enacted as part of the broader Anti-Money Laundering Act of 2020, introduced new reporting requirements aimed at enhancing transparency and curbing illicit financial activities. A key component of the CTA is the Beneficial Ownership Information (BOI) filing requirement, which affects a significant number of small business entities in the United States. Who Needs to File? The CTA requires many companies doing business in the United States, particularly small businesses and entities that are not publicly traded, to report their beneficial ownership information. This includes corporations, limited liability companies (LLCs), and other similar entities formed or registered to do business in the U.S. Entities that qualify for an exemption, such as certain trusts, are not required to file. When are the Filing Deadlines? Companies that were created or...
Recent Comments