Lisa and the Law
Welcome to Lisa and the Law, the official blog of Thompson Law Group. Information is power and here is where you get some. We understand that running a business can be overwhelming so we will provide timely insights on business law matters and practical advice for business owners. Stay tuned for updates on the law, news you can use, and actionable advice from an experienced business law attorney.
The CTA Remains the Law, but Enforcement Has Changed
On March 2, 2025, the Department of Treasury issued a press release stating that it would not enforce the Corporate Transparency Act (CTA) against domestic reporting companies or U.S. Citizens...
Did you owe taxes this year? – Investing in retirement plans could limit your tax liability for next year
The IRS has increased the amount that individuals may contribute to a 401(k) to $24,500 for 2026 and $7,500 to IRAs. If your business does not have a retirement plan...
Annual Best Practices for Businesses – FREE Seminar TODAY
If you are interested in learning more about Buy/Sell Agreements and the difference between a business entity sales and asset purchases, please register for this FREE seminar TODAY at Noon...
Did you sell your business this year? – Common mistake made in Buy/Sell deals
When you sell your ownership interest in your business and it has an Employer Identification Number (EIN), changing the individual primarily responsible for the EIN often fails to occur. Be...
Annual Best Practices for Businesses – FREE Seminar NEXT Thursday
If you are interested in learning more about Buy/Sell Agreements and the difference between a business entity sales and asset purchases, please register for this FREE seminar, Thursday, April 16th...
Personal income tax returns due April 15, 2026 – NEXT WEEK
Individual tax returns are due April 15, 2026, unless you file an extension. In order to avoid penalties for a late filed business return, the IRS must receive the extension...
FinCEN’s Residential Real Estate (RRE) reporting rule – Who files the RRE report?
Only “reporting persons” file the RRE report with FinCEN. Generally, the closing/settlement agent on the deal or the title insurance company are responsible for filing the RRE report with FinCEN....
FinCEN’s Residential Real Estate (RRE) reporting rule – What is it?
As I mentioned in my March 3, 2026 blog post, the RRE is in effect. It is designed to help law enforcement investigate possible money laundering. The focus on RRE...
HAPPY ST. PATRICK’S DAY!!! – An Irish proverb
A popular Irish proverb is ”A good start is half the work” (Tus Maith Leath Na Hoibre- The Temple Bar). Isn’t that the truth? How many times have you procrastinated...
Partnership and S-Corp tax returns are due TODAY
If your business is taxed as an S-corporation (S-corp), or is a partnership, multi-member LLC or corporation, its tax returns are due today. Given that the tax laws change regularly...
Annual Best Practices for Businesses – FREE Seminar TODAY
If you are interested in learning more about annual best practices for ALL businesses, please register for this FREE seminar TODAY at Noon (MST – Arizona time). I will be...