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Download Comerica Wealth Management's 2024 Year-End Planning Guide now to equip yourself with expert strategies for a successful financial year-end.

(PDF 26MB)

Navigating Post-Election Market Insights:

A Fireside Chat with Industry Leaders - Lisa Featherngill, Dan Donohoe, and Bill Adams.

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Hear from Comerica Wealth Management's team of thought leaders on why you should download the guide today(PDF, 26 MB)

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Lisa Featherngill, SVP, National Director of Wealth Planning

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Bob Buchanan, SVP, National Practice Leader, Business Transition Planning

What's Inside

The Comerica Wealth Management 2024 Year-End Planning Guide is crafted exclusively for individuals and business owners looking to maximize their financial and tax planning strategies. With expert insights and actionable strategies, after exploring the guide you’ll be well equipped to navigate the complexities of year-end financial planning, and to make informed decisions about your financial future. This year’s guide covers:

Hot Topics

Key trends and strategies identified this year.

Corporate Transparency Act

Essential insights for compliant year end planning.

Real Estate Outlook

Insights into market trends and opportunities.

Tax Cuts and Jobs Act

Understand upcoming changes and their impacts.

M&A Outlook

Key considerations for mergers and acquisitions.

Estate Planning

Essential strategies to protect your legacy.

Charitable Giving

Maximize your impact while optimizing tax benefits.

Business Transition

Guidance for smoothly transferring ownership.

Important BOI Reporting Update

On Tuesday, December 3, 2024, a federal district court in Texas issued an order granting a nationwide, preliminary injunction that: (1) enjoins enforcement of the Corporate Transparency Act (CTA) and regulations implementing its beneficial ownership information (BOI) reporting requirements, and (2) stays all deadlines to comply with the CTA’s reporting requirements, including the January 1, 2025 deadline for reporting companies to submit their initial BOI report. The Department of Justice, on behalf of the Department of the Treasury, filed an appeal of the district court’s decision on December 5, 2024.

The Financial Crimes Enforcement Network (FinCEN) has responded that as long as the preliminary injunction remains in effect:

  • Reporting companies are not required to report BOI to FinCEN; and
  • Reporting companies will not be subject to liability for failing to report their BOI.

FinCEN also indicated that reporting companies may continue to voluntarily submit BOI reports.

The future of the CTA and BOI reporting, including when reports need to be submitted, remains fluid and unpredictable. While the Texas district court’s ruling may be the most recent decision issued, it is not the only case in which the CTA has been challenged. Federal district court decisions on the validity of the CTA have conflicted, and three district court cases are currently being appealed to their respective Courts of Appeals. As such, it is strongly advised that CPA firms continue to closely monitor developments and be prepared to respond swiftly if necessary.

Check the FinCEN Beneficial Ownership Information Reporting page for more.

For more information: Texas Top Cop Shop, Inc., et al. v. Garland, et al., No. 4:24-cv-00478 (E.D. Tex.) injunction

Meet our Contributors

Bill Adams photo

Bill Adams
SVP, Chief Economist
Comerica Bank

Bio & Contact

Andrea Bruce photo

Andrea Bruce
SVP, Managing Director, Specialty Wealth Solutions
Comerica Trust

Bio & Contact

Bob Buchanan photo

Bob Buchanan
SVP, National Practice Leader, Business Transition Planning
Comerica Wealth Management

Bio & Contact

Dan Donohoe photo

Dan Donohoe
Director, Government Relations
Comerica Bank

Bio & Contact

Lisa Featherngill photo

Lisa R. Featherngill
SVP, National Director, Wealth Planning
Comerica Wealth Management

Bio & Contact

Matthew Grabowski photo

Matthew Grabowski
VP, Estate Tax Manager
Comerica Trust

Bio & Contact

Noah Harden photo

Noah Harden
SVP, National Wealth Planning Manager
Comerica Wealth Management

Bio & Contact

Jack Maier photo

Jack Maier
SVP, Senior Managing Director
Investment Banking
*Comerica Securities, Inc.

Bio & Contact

Stephen Sherline photo

Stephen M. Sherline
SVP, Regional Director, Private Wealth
Comerica Wealth Management

Bio & Contact

Jeff Wilson photo

Jeff Wilson
SVP, Managing Director
Investment Banking
*Comerica Securities, Inc.

Bio & Contact

Stay Informed

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Comerica Wealth Management consists of various divisions and affiliates of Comerica Bank and subsidiaries of Comerica Bank including Comerica Insurance Services, Inc. and its affiliated insurance agencies. Comerica Bank is an Equal Opportunity Lender. Securities and other non-deposit investment products are not insured by the FDIC, are not deposits or other obligations of, or guaranteed by, Comerica Bank or any of its affiliates, and are subject to investment risks, including possible loss of the principal invested. Comerica and its affiliates do not provide tax or legal advice. Please consult with your tax and legal advisors regarding your specific situation.

This is not a complete analysis of every material fact regarding any company, industry or security. The information and materials herein have been obtained from sources we consider to be reliable, but Comerica Wealth Management does not warrant, or guarantee, its completeness or accuracy. Materials prepared by Comerica Wealth Management personnel are based on public information. Facts and views presented in this material have not been reviewed by, and may not reflect information known to, professionals in other business areas of Comerica Wealth Management, including investment banking personnel.

The views expressed are those of the author at the time of writing and are subject to change without notice. We do not assume any liability for losses that may result from the reliance by any person upon any such information or opinions. This material has been distributed for general educational/informational purposes only and should not be considered as investment advice or a recommendation for any particular security, strategy or investment product, or as personalized investment advice.

*Securities products and services are offered through Comerica Securities, Inc., which is a broker/dealer, member FINRA/SIPC and subsidiary of Comerica Bank. Securities products are not insured by the FDIC or any government agency; are not deposits or other obligations of or guaranteed by Comerica Bank or any of its affiliates; and are subject to investment risks, including possible loss of the principal invested.
Comerica Securities, Inc. and its affiliates do not provide tax or legal advice. Please consult with your tax and legal advisors regarding your specific situation.

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