Donovan & Ho’s Post

COLLECTION PROTECTION SERIES: National v State Banks and Judgments Tune in every Thursday at 1pm PT to catch our weekly series featuring quick tips to help you & your business in financial distress. Need a quick tip? Have a question you need answered by a bankruptcy attorney? Comment, message me, reach out & we'll feature your questions weekly. #bankruptcylaw #bankruptcyattorney

Did a tree fall if nobody heard it? Is client money segregated if there's no reconciliation?   One is up for debate. The latter, though, regulators have answered for us - reconciliation must be done to prove segregation. With the debate settled, discover some top tips on how to optimise your reconciliation for CASS 7 purposes in our latest blog below 👇  

Know your rights with banks! As of April 1, 2024, banks can't hike your interest rates for non-compliance. They can only charge penal fees, with clear disclosure. No extra interest on these charges! Stay informed and protect your finances. 💼💡 #BankingRights #PenalInterest #TeamAdvisor

Understanding GRAP 104 (revised 2019) – what are bank accounts and how should they be treated? If there is one financial instrument that all entities have, it is a bank account. Most of an entity’s activities centre around cash in-and-out of the bank. Click here to read the full article: https://buff.ly/3X2Vg0L #GRAP104Revised #GRAP104Fit #GetReadyFor104

In a relationship, secrecy can lead to hidden debts, unilateral decisions, and strained partnerships. Recognize the signs early. Red Flags to Watch Out For: -New Credit Card Statements -Unilateral Financial Decision-Making -Unwillingness to Discuss Finances -Change in Account Status -New Passwords #financialinfidelity

The two most important rules for someone doing a 1031 exchange 1) They must use a Qualified Intermediary which is an independent third party mandated by the IRS to facilitate a 1031 transaction 2) The investor cannot take constructive receipt of the funds at closing (cannot hit their bank account)

Ready to put your property on the market? Don't miss Gerda Janse van Rensburg's top tips for a smooth sale! From notifying your bond bank to grabbing those all-important compliance certificates, she's got you covered. Plus, learn why disclosing defects can save you big headaches later. Watch our video now: https://lnkd.in/dwNWguYR #PropertySales #RealEstate101 #SellingTips #NVRLaw #SmoothTransactions

Businesses that file 10 or more information returns must e-file Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return. For those with fewer information returns, e-filing Form 8300 is optional. To electronically file Form 8300, a business must set up an account with the Financial Crimes Enforcement Network's BSA E-Filing System. https://postly.app/3SEh

Protect your operations from fines by proving protection of client money in our ultimate guide to CASS 7 reconciliation → https://bit.ly/450h3YV #cass #finance #regulations #clientmoney

On February 16, 2024, the Treasury Department published a proposed regulation relating to new reporting requirements for certain transfers of residential real estate consistent with its rulemaking authority under the Bank Secrecy Act. The rule would require the filing of a Real Estate Report with the Financial Crimes Enforcement Network (FinCEN) after the transfer of residential real estate. Read Kevin Naccari, Jr. and Leon Rittenberg III’s latest post on the #GulfCoastBusinessLawBlog here: https://lnkd.in/ds6MFxe8