In the intricate world of financial management, accuracy is not just desirable – it’s essential. Every transaction, every entry, and every calculation contributes to the financial health and decision-making of a business. Yet, traditional bookkeeping, often reliant on manual data entry, has long been a breeding ground for errors. At Protea Financial, we understand the…
Read More
The CTA 3 part test on reporting
In episode 40 of Protea Weekly Jay O’Neil of CTASafe breaks down all the regulations, rules and penalties around this legislation effecting small business owners! To determine if you are required to comply with mandatory reporting regulations, you need to meet a three-part test. Here’s a detailed look at each component of this test: Part…
Read More
The Clock is Ticking on CTA Compliance: What Small Businesses Need to Know About the Corporate Transparency Act
In the world of business, regulatory compliance is no stranger to most companies. However, the Corporate Transparency Act (CTA) has introduced new rules that may catch many small businesses off guard. To be honest, we should all be prepared for this, as the CTA was passed in 2021 and fully coming into effect now. Due…
Read More
The CTA is Scary – Civil and criminal penalties
When it comes to reporting requirements, particularly in regulated industries, there are significant liabilities that individuals and companies must be aware of. These liabilities primarily fall into two categories: civil penalties and criminal penalties. Here’s a breakdown of each: Civil Penalties Civil penalties are monetary fines imposed for non-compliance with regulatory requirements. According to recent…
Read More
Mastering Data Management for Winery Businesses: Tips for Compiling Business Data
In the intricate world of winemaking, where artistry intertwines with agriculture and business, data isn’t just a buzzword—it’s the lifeblood of sustainable growth. We, at Protea Financial, understand the unique challenges faced by winery businesses when it comes to managing data. That’s why we aim to help you navigate the complexities and harness the power…
Read More
Protea Weekly – Episode 40 – The complex world of the CTA – with Jay O’Neil (CTASafe)
In this episode of Protea Weekly, Zane Stevens interviews Jay O’Neill, the CEO of CTA Safe, to discuss the Corporate Transparency Act (CTA). They highlight the confusion and lack of awareness surrounding the CTA, which was passed in 2021 but is still relatively unknown. The purpose of the CTA is to increase transparency in financial…
Read More
