Massachusetts dentists turn to the Massachusetts Dental Society (MDS) for guidance, education, and focused advocacy. Whether you're embarking on your journey as a new dentist or navigating a transition in your career, the MDS has your back. Renew your membership today.
Join us January 30 - February 1, 2025, at the Boston Convention and Exhibition Center to celebrate 50 years of excellence at Yankee Dental Congress 2025!
Need to find new talent? The MDS Career Center is a one-stop shop for job seekers and employers, designed to offer a more centralized job platform for dental professionals. Post your ad today and receive a 20% discount at check out by using code MDSHOLIDAYS24. This offer expires on December 31 at midnight and is limited to one ad placement per user.
The Massachusetts Dental Society (MDS) Dentist Health and Wellness Committee is excited to announce a Virtual Art Show in the MDS State Lounge (Booth #1038) at the 2025 Yankee Dental Congress. Submit a photo of your artwork today to be included.
Hit the courts with us on Saturday, January 18, from 1-3 pm at Bosse in Natick. Light refreshments and time to mingle will follow pickleball play. Register now for this member-only event.
Would You Like a Mentor to Help You Navigate Your Career? The MDS is excited to announce the launch of a new Mentorship Pod Program. Enroll today before all spots are filled. Make connections that will guide your career into the future!
UPDATE: A U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction on Dec. 3, 2024, that blocks enforcement of the Corporate Transparency Act. Despite this, the Massachusetts Dental Society (MDS) is advising members to still be prepared to file reports, or file voluntarily before January 1,2025, as this fluid situation could change rapidly.
The Dental Insights Team thanks Dr. Albert Sandler (MDS Trustee) for the important guest post below:
The Corporate Transparency Act (CTA) became enacted on January 1, 2024. The deadline for all incorporated private small businesses with 20 or fewer employees with gross annual sales under $5 million are obligated to file beneficial owners information reports (BOIR) with the Financial Crimes Enforcement Network (FinCEM) by January 1, 2025. Those who are delinquent can be fined up to $500/day. Filing a fraudulent BOIR or willfully ignoring filing a BOIR, carries up to 2 years imprisonment and a fine up to $10,000.
The US Treasury created the CTA legislation to combat illicit financial activities by curtailing the use of shell corporations to commit tax fraud, money laundering, tax evasion, and other illegal activities. The ADA and many other small business groups have been unsuccessful in ADA lobbying attempts for an exemption for dental practice owners.
Which businesses have to file a BOIR?:
You will need to file for each and all beneficial owners, including your spouse, if they are on your incorporated documents. Your CPA or legal representative can file on your behalf. There are also services that can file for a fee, but beware of scammers! There is no fee to file online yourself at the FinCEN website at fincen.gov/boi, and it is easy.
DISCLAIMER: This is informational and not legal advice. Please seek legal counsel.
