BOI Reporting Rules Repealed
You may remember us writing in 2024 about FinCEN regulations requiring many companies (even US owned and operated firms) to disclose their beneficial ownership to the US government as a money-laundering risk mitigation technique. As court cases around the country were filed challenging the rule, many business owners were unclear as to how to proceed, as the potential fines were steep. As of August 14, 2026, FinCEN has repealed the rules pertaining to US firms reporting their beneficial ownership, and will be deleting (over time) individual level identifying information for all reports previously submitted by a US person.
Canadian Tariffs
We’ve entered another phase in the tariff saga. President Trump imposed 50% tariffs on approximately $20 billion worth of Canadian exports. Canada announced counter-tariffs on an equivalent amount of U.S. imports. Canada’s tariffs will range from 15% to 50%, depending on the product, and are scheduled to take effect September 8. Canada could decide to punish the northeast region of the U.S. by adding an energy surcharge to electricity exports. Neither country is going to benefit if this holds, and long-term negotiations between the two countries fail.
Permission to Spend Discussion Group
Many people have spent decades building financial security, but struggle to shift into enjoying it. If you find yourself hesitant to spend on things that you want, even when your plan shows you can afford it, you’re not alone.
There’s a new virtual discussion group, moderated by Danielle Barry, PhD, made to explore the emotional side of “enough”: permission to spend, redefining risk in retirement, and letting go of scarcity habits that no longer serve you.
Interested in participating? RSVP to suzan@milestonefinancialplanning.com by September 20th. After September 20th, the group will work together to find a meeting time that fits.
Farley White Customer Appreciation Event
At the end of August, the Milestone team participated in Farley White’s annual customer appreciation event, which was a perfect excuse to step away from the computer and into the sun. There was food, raffles, and even a dunk tank, where event attendees got the chance to dunk our own Jonathan Harrington, among many others. All of the proceeds from the event went to support the New Hampshire Food Bank, which provides food to individuals and families in our community. We’d like to thank Farley White for putting on this event, we can’t wait to come back next year!
Taxes and financial planning are complex, but you don’t have to navigate them alone. A financial advisor can help you stay informed about tax law changes, optimize your savings and investments, and avoid costly mistakes. If you need tailored guidance, our team is here to help. Talk to an advisor or call (603) 589-8010 to integrate tax planning into your comprehensive financial strategy.
Disclaimer: This is not to be considered investment, tax, or financial advice. Please review your personal situation with your tax and/or financial advisor. Milestone Financial Planning, LLC (Milestone) is a fee-only financial planning firm and registered investment advisor in Bedford, NH. Milestone works with clients on a long-term, ongoing basis. Our fees are based on the assets that we manage and may include an annual financial planning subscription fee. Clients receive financial planning, tax planning, retirement planning, and investment management services and have unlimited access to our advisors. We receive no commissions or referral fees. We put our client’s interests first. If you need assistance with your investments or financial planning, please reach out to one of our fee-only advisors. Advisory services are only offered to clients or prospective clients where Milestone and its representatives are properly licensed or exempt from licensure. Past performance shown is not indicative of future results, which could differ substantially.
