BOI Reporting Rules Repealed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 As of August 14, 2026, FinCEN has repealed the rules pertaining to US firms reporting their beneficial ownership, and will be deleting (over time) individual level identifying information for all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:
The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. The views expressed in this commentary are subject to change based on market and other conditions. These documents may contain certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur.
All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.
Milestone Financial Planning, LLC (“Milestone”) is a fee-only financial planning firm and registered investment advisor headquartered in Bedford, NH. Registration does not imply a certain level of skill or training. Milestone works with clients on an ongoing, long-term basis, providing financial planning, tax planning, retirement planning, and investment management services. Fees are based on assets under management and may include a financial planning fee. Milestone receives no commissions or referral fees and, as a fiduciary, is required to act in clients’ best interests. Advisory services are offered only where Milestone and its representatives are properly licensed or exempt from licensure. More information, including fees and principal risks, is available in Milestone’s Form ADV Part 2A. For help with your investments or financial planning, contact one of our fee-only advisors.
