Small business acquisitions can come with unforeseen landmines hidden in the books, the customer relationships, and the team’s institutional knowledge. Taking the time to spot red flags in these key areas during due diligence is often the difference between a smooth takeover and an expensive misfire.

The extended deadline for most companies to file their Beneficial Ownership Information report under the Corporate Transparency Act is now March 21, 2025. While further extensions or modifications may be forthcoming, entities should continue gathering owner data and preparing their filings during this 30-day window.

In this article, PKC corporate partner Robbie Crosier explains how the legal standards for LLC liability protection in Texas have evolved, particularly since 2011, and outlines best practices for LLC owners to maintain this protection for their personal assets.