You Don't Need To File A BOI Report Anymore! (But Should You?)

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  • Опубліковано 27 гру 2024

КОМЕНТАРІ • 147

  • @JamesBakerCPA
    @JamesBakerCPA  16 днів тому +4

    Wan To Open and Operate a Tax Free Company in USA? Join my monthly "Ask Me Anything Sessions" For Free - bit.ly/4fhKPfk
    OR
    If you have any questions about the BOI Report you can schedule a FREE discovery call with our team. - bit.ly/3DdFo3C

    • @mobileandroid5299
      @mobileandroid5299 11 днів тому

      James, what you are missing is that NOW, we have all these criminals who will look up the BOI report and find out WHO owns what.... some of us do NOT live in the GREAT US of A. Some of us live and travel in Latin America and Africa, and the BOI is a death sentence for us. When local criminals allied with Maduro in e.g., Venezuela find out we're connecting to fly to Spain, they'll have luggage with our name on it with a few kilos on it and the ONLY way NOT to spend the rest of our lives in a Venezuelan prison is to give them EVERYTHING we have ...and they may STILL execute us afterward to keep us quiet!
      So, if you value your credibility internationally, do NOT say what you just said because it forfeits your credibility.

  • @p.c.h.6721
    @p.c.h.6721 16 днів тому +47

    A WIN FOR PRIVACY

  • @KenCreates
    @KenCreates 4 дні тому +11

    Should probably do an update to this. Unfortunately, as of today, the CTA was reinstated.

    • @GoldClaw7
      @GoldClaw7 3 дні тому +1

      Reinstated for now. The appeal will be ruled on the 27th. So right now Fincen is trying to use the factbhat they appealed it to get people to file again while its under review. Then after the 27th it will probably get appealed again.

    • @matthewrobb4017
      @matthewrobb4017 День тому +1

      @@GoldClaw7 Do you know if this will be livestreamed (the court) today? If so where can I find it?

    • @JosephMarohn
      @JosephMarohn День тому +1

      It was removed again today

    • @styxrakash4639
      @styxrakash4639 23 години тому +2

      I DO NOT CARE. I WILL GLADLY FIGHT THIS IN COURT. OUR FOUNDING FATHERS ARE ROLLING IN THEIR GRAVES.

    • @petio1akrobata
      @petio1akrobata 11 годин тому +1

      What does it mean removed? Should we file BOI or not now?

  • @kiwidrip_
    @kiwidrip_ День тому +2

    It was just reinstated on December 23rd, due by January 13th if your business received its EIN before 2024.

  • @mccarth1
    @mccarth1 12 днів тому +10

    I'm NOT advising my clients to file any information with the feds that isn't required. States have anonymity laws and structures for a reason.

    • @JamesBakerCPA
      @JamesBakerCPA  12 днів тому +2

      I am not an attorney so I don't advise on legal matters and filings like this. I filed for some of my LLCs before and probably won't end up filing for the others. I understand the value of privacy and am very happy this isn't required anymore.
      That said, for the people that did file or want to just file anyways so they don't have to think about it, I don't think it will impact them at all.

  • @Robert-po8jn
    @Robert-po8jn 15 днів тому +23

    I have been holding off on filing and had considered not ever filing and then going to court on it if they came after me. The "you have nothing to hide" line is crap.

    • @frosty6828
      @frosty6828 14 днів тому +8

      Yes, absolutely. It’s not about hiding anything; it’s a matter of principle, especially when this nonsense is considered unconstitutional. This government overreach needs to end.

    • @Robert-po8jn
      @Robert-po8jn 13 днів тому +3

      @ they also already have this info on record with my state when I set up the companies and when I file the K1 with federal taxes.

    • @JamesBakerCPA
      @JamesBakerCPA  12 днів тому +3

      Exactly. It is overreach and hopefully the gov appeal is denied. But at the end of the day they can still get this information. I don't share what isn't required, but I also don't want people getting hung up or stuck on these filings either.
      And lastly many people already filed and I don't think this will impact them at all

    • @GoldClaw7
      @GoldClaw7 3 дні тому

      Right, what its actually about is getting you to agree to be part 9f a criminal investigation firm so they can excercise whatever overreach they want on it because you complied.

  • @tomtillman
    @tomtillman 15 днів тому +34

    Trump will ax this BS.

    • @virgilio1956
      @virgilio1956 13 днів тому +2

      he vetoed it last time, and they over rode his veto

    • @tomtillman
      @tomtillman 13 днів тому +3

      @@virgilio1956 True, but maybe not this time. There is a majority in both house and senate now.

  • @wepmo
    @wepmo 16 днів тому +7

    Thank you James for the update!! Those are great news! Saludos.

  • @eugeneponcelet9377
    @eugeneponcelet9377 15 днів тому +15

    Its not that i care about it,I just heard of it and most of my friends who own businesses and my accountant and their accountants havent heard of it. I have received no letters or notices of this either. Talk about sneaking something in to businesses that weve never heard of before than fining us for not complying. What an outreach. No wonder it is unconstitutional.

    • @JamesBakerCPA
      @JamesBakerCPA  15 днів тому +3

      Exactly. I'm glad that you know now! I have other videos explaining how to submit it if you want to. It's fairly simple

  • @alr5373
    @alr5373 15 днів тому +17

    Thank you to everyone who filed.
    In the future when ever something is being pushed for the "safety of the nation," pay special attention and think it through logically.
    That's how tyranny takes people rights away.

    • @Wayhom-kt3bi
      @Wayhom-kt3bi 14 днів тому +1

      Exactly, just like the jabs!

  • @drwalthermd
    @drwalthermd 9 днів тому

    I appreciate your candor and accessibility James!

  • @josephgarbacik4350
    @josephgarbacik4350 13 днів тому +4

    I was planning on filing suit against cta but the Texas judge saved me the time to seek an injunction.

  • @Donnie_G_TheBigGuy
    @Donnie_G_TheBigGuy 14 днів тому +11

    NEVER EVER GIVE THE GOVERNMENT INFORMATION THEY DON'T NEED.

  • @MuhammadShoaib-o2f
    @MuhammadShoaib-o2f День тому +2

    Please update about BOI, do we need to file BOI or not?

  • @Mrcheckh4
    @Mrcheckh4 День тому

    Great video, I'll follow more of your content.

  • @bratu4ed
    @bratu4ed 14 днів тому +11

    Why file if you don’t have to anymore?

    • @BluePrecious77
      @BluePrecious77 14 днів тому +1

      plus for some it is not the information which have to be release but the "cost" - just another fee to take our money.

    • @wholewithhannah
      @wholewithhannah 9 днів тому

      @@BluePrecious77 There is no file, if your agent is trying to charge you 149 dollars like mine was just go do it yourself. literally take 3 minutes if you have you EIN and an ID.

  • @DenverChiropractor
    @DenverChiropractor 13 днів тому +4

    plus a $349.00 "filing fee" WTH! We already file with the Secretary of State.....

    • @lauriefallert8885
      @lauriefallert8885 7 днів тому

      I believe it's on the fincen.gov for free ... However, I held off and will wait .. mainly because all the information is already on file at the state level AND IRS business and scheduled C.. and another place for hackers to steal identitys..

  • @Thatmeee11
    @Thatmeee11 День тому +2

    There has been an update and every one has to file again smh! This should be illegal! People should go out and protest or stop making llcs and do business under the table.

  • @dixieland9959
    @dixieland9959 9 днів тому +2

    What about Florida ?

  • @ivl_bone9502
    @ivl_bone9502 12 днів тому +2

    My friend tried to file his but he kept getting errors I wonder is this the reason

  • @SarahStephens-j6m
    @SarahStephens-j6m День тому

    God Bless you dearly for keeping us updated. I love your page and I hope you're blessed in 2025 ;-)

  • @onlyboatride
    @onlyboatride 12 днів тому +1

    My Real Estate Attorney and my Tax Attorney both advised me to file, simply because the information is already out there, and why risk being fined for not filing.

  • @johnh.7046
    @johnh.7046 18 годин тому +1

    What if you already filed one, can you resend it?

  • @chrisguli2865
    @chrisguli2865 15 днів тому +5

    Sometimes, procrastination pays off, but I didn't procrastinate enough....filed the BOI the day before the Texas ruling. 😂 It was a quick filing, but I really resent the heavy handedness of this law...jail time is a bit severe for just not filing a report on time. Many people don't file 1040s for years or ever....willful failure to file is hard to prove for the government.

  • @arjunalablond5725
    @arjunalablond5725 15 днів тому +9

    If there is a Constitutional argument being sustained by the court calling the law Un Constitutional, and I tend to agree, why file?

    • @joey8567
      @joey8567 15 днів тому +3

      I hate when anyone tells folks "if your LLC wants to volunteer information" , tend to pay close attention. Further more 500$ penalty on the little guys. SMH.

    • @arjunalablond5725
      @arjunalablond5725 15 днів тому

      @@joey8567 $500 PER DAY! Up to $10,000.00! This "Bi partisan" law was fashioned by Janet Yellen tool of big government and the Globalist agenda to deliver America. That moment in American history appears to be thankfully over (For the moment anyway).

    • @ANDRESR2
      @ANDRESR2 11 днів тому

      The law is not unconstitutional.

    • @JamesBakerCPA
      @JamesBakerCPA  11 днів тому +2

      Even though it isn't constitutional it's still being appealed and we don't know what will happen. Obviously I hope it's not required anymore but I think this is far from over

    • @joey8567
      @joey8567 11 днів тому

      @@JamesBakerCPA States such as Wyoming and a like takes and act of Congress to get this information. States like the ones I work out of all have this information except for the uploading my I.D. and board interest members. Ticks me off when public data has the information. Nothing is sacred anymore as things private like my addresses and numbers.

  • @joey8567
    @joey8567 15 днів тому +4

    As a business man down the street from you, and I'm not feeling anymore regulation unnecessary.

  • @orthopraxis235
    @orthopraxis235 9 днів тому +3

    "Pay our fee, file whatever we tell you, pay any tax we say, then forget and go work your business." Every CPA's canned advice to their advice to pay them fees.

  • @kendrasellsnjandfl
    @kendrasellsnjandfl 2 дні тому +1

    My LLC is inactive so I qualify for the exemption (to not file it).

  • @coycooper8985
    @coycooper8985 15 днів тому +6

    Do you get paid to prepare these for others?

    • @JamesBakerCPA
      @JamesBakerCPA  15 днів тому +1

      We do it for free for our clients

    • @joey8567
      @joey8567 15 днів тому +1

      Takes 5 minutes but my CPA attorney followed this lawsuit. So no we all did not file.

  • @nguyenpaige
    @nguyenpaige 9 днів тому

    Thank you so much for all of your helpful videos! May I ask do I need to report BOI if I am dissolving it in a few days? Much appreciated!

  • @kire-asen
    @kire-asen 3 дні тому

    Dear CPA , for people who wants to file. The E-Filing page of Fincen website is not working. Do you have any info about this? How can we file?

  • @lesswillmorepower
    @lesswillmorepower 5 днів тому +1

    This is the one time procrastination paid off for me.

  • @anapaulacarvalho8164
    @anapaulacarvalho8164 16 днів тому +3

    Trust needs to report? It is not clear, since trust is private common law that is not registered with a state. Thanks.

  • @nawidsulaimankhil8399
    @nawidsulaimankhil8399 5 днів тому +2

    I already filed dang it.

  • @reneela3471
    @reneela3471 2 дні тому

    Did that not just change???? The twenty third of december???

  • @tommroy
    @tommroy 14 днів тому +22

    "Just get it over with" he says, never watching this guy again...

    • @interstatebullly3nyg551
      @interstatebullly3nyg551 13 днів тому +2

      Right lol

    • @JamesBakerCPA
      @JamesBakerCPA  12 днів тому +1

      You surely don't have to file, and I'm not advising people to file or not to do the report.
      I've just talked to so many people Incredibly hung up on this who are getting nothing done in their business. And many new companies already did file because it was required. I don't think this will impact legally operating businesses at all.
      That's what I was getting at but thanks for the comment!

    • @mobileandroid5299
      @mobileandroid5299 11 днів тому

      @@JamesBakerCPA - Because it's LIFE or death for us overseas!
      Read this again: James, what you are missing is that NOW, we have all these criminals who will look up the BOI report and find out WHO owns what.... some of us do NOT live in the GREAT US of A. Some of us live and travel in Latin America and Africa, and the BOI is a death sentence for us. When local criminals allied with Maduro in e.g., Venezuela find out we're connecting to fly to Spain, they'll have luggage with our name on it with a few kilos on it and the ONLY way NOT to spend the rest of our lives in a Venezuelan prison is to give them EVERYTHING we have ...and they may STILL execute us afterward to keep us quiet!

    • @tpassmedia
      @tpassmedia 9 днів тому +1

      Agreed

  •  9 днів тому +1

    They said u don’t need so why ur saying go and apply ?

    • @JamesBakerCPA
      @JamesBakerCPA  8 днів тому +1

      It's because it's only not required temporarily. It will probably be required again

  • @leez8446
    @leez8446 12 днів тому +2

    This cpa needs money.

  • @joelcorona22
    @joelcorona22 8 днів тому

    What if i have a daycare but didn't take out an LLC? Do i need to file a. LLC and a report?

  • @tinaclayton3017
    @tinaclayton3017 7 днів тому +1

    I'm new to this BOI filing and have been getting companies sending me letters that they can file it for me for $250-$500. Can I file it myself? How much does it actually cost?HELP

    • @MyntOrchid
      @MyntOrchid 4 дні тому +2

      Yes, it’s something you can file yourself and there is NO FEE to file.

    • @glennmcohen
      @glennmcohen День тому +1

      Yes, free if you do it yourself. takes 10 minutes

  • @nikk1000
    @nikk1000 10 днів тому +3

    Why would you support filing anyways? (in your opinion) Don't support such invasions of privacy. That indicates something about you and it's not great. Support the spirit of America and not government overreach...

  • @dustywilson5461
    @dustywilson5461 5 днів тому +1

  • @interstatebullly3nyg551
    @interstatebullly3nyg551 13 днів тому +5

    Thats like iust getting the jab to get it over with.. for what if i dont needit

  • @DianaDin-xr1cf
    @DianaDin-xr1cf 16 днів тому +3

    Could you please talk about international business bank account for LLC company 🙏

    • @JamesBakerCPA
      @JamesBakerCPA  16 днів тому

      I’ll add this to my list, thanks for the comment.

  • @SCOTTEDM
    @SCOTTEDM 10 днів тому

    Its like a Déjà vu of the Garland ATF pistol brace rule.

  • @BasilikosNomosInstitute
    @BasilikosNomosInstitute 14 днів тому +5

    There was a ruling in the Alabama federal court, but very few people read the ruling they listen to what everybody else was saying, instead of looking at the actual case that laid out the powers and authorities of the Congress and they ruled at Congress could not do what they did because it is outside the scope of their power. So the Texas case is an additional case.

    • @JamesBakerCPA
      @JamesBakerCPA  14 днів тому +2

      The Texas ruling is more broad. There are a bunch of good videos about it online

    • @BasilikosNomosInstitute
      @BasilikosNomosInstitute 14 днів тому +4

      @ yes the Texas ruling is definitely more broad but the earlier one out of the Alabama federal court done a very good job of explaining the powers of Congress and why they don’t have the power to do this

  • @DianaDin-xr1cf
    @DianaDin-xr1cf 16 днів тому +4

    I already paid for this form last week . I did this by company in USA its cost me 475 $😢

    • @huckleberryfinn6578
      @huckleberryfinn6578 16 днів тому +7

      Who did you pay it to? It's a free report, and it takes 5 minutes to file.

    • @wepmo
      @wepmo 16 днів тому +2

      But I think you paid to create the company, that probably included the BOI filling, but the report is free.

    • @MrEJF02
      @MrEJF02 16 днів тому +6

      Wow. They scammed you. It does not take $475 worth of work.

    • @misssands3764
      @misssands3764 15 днів тому +3

      Believe it or not, my business attorney wanted to charge me $3000 to file for 3 companies at the beginning of the year. I politely told them to fuck off.

    • @HadrianTTS
      @HadrianTTS 15 днів тому +2

      the guy in this channel made a video showing how to do it for free.....never pay these companies for anything you can do yourself.

  • @leez8446
    @leez8446 12 днів тому +1

    I tried to file it on BOI website , it was a total mess, the stupid site doesn't work. You have to pay a cpa to file, what a scam!

    • @glennmcohen
      @glennmcohen День тому +1

      it worked for me no problem.

  • @exoressdelivers70
    @exoressdelivers70 9 днів тому

    The thing I hate about it is that it applies to homeowners associations and condo associations board of directors members who are mostly elderly volunteers. That is too much.

  • @rtist6251
    @rtist6251 8 днів тому +1

    Never do it non of there biz

  • @goodvibesyes
    @goodvibesyes 12 днів тому

    I opened an llc in this 2024 but am not doing any business yet. Should I need to file a Boi?

    • @ANDRESR2
      @ANDRESR2 11 днів тому

      Yes mandatory

  • @tpassmedia
    @tpassmedia 9 днів тому +3

    Really weird take on this IMO

  • @kev959
    @kev959 9 днів тому +2

    Govt intrusion

  • @cathychats
    @cathychats 16 днів тому +17

    The biden admin is a serious joke

    • @teedee3154
      @teedee3154 8 днів тому

      This was Congress that did this whom is the republican majority..
      . Learn how government works🙄

  • @Thatmeee11
    @Thatmeee11 16 днів тому +5

    UA-camr dude! I filed! So what are they going to do with my information.

    • @JamesBakerCPA
      @JamesBakerCPA  16 днів тому +3

      Good question!

    • @evilmac9623
      @evilmac9623 16 днів тому +9

      In two months hackers will have it, along with a copy of your Drivers License to get loans... duh.

    • @Thatmeee11
      @Thatmeee11 16 днів тому +4

      @ 😂😂😂yesir. With a class action lawsuit.

    • @floobertuber
      @floobertuber 15 днів тому

      @@evilmac9623 SWEET! In nine years when that class action is resolved, I'll be getting another $6.23 prepaid Visa gift card! Taxpayer funded this time, no less!
      (no I'm not getting cynical in my old age.... OK, so that's a lie. 😆)

  • @gok_emphazizproductions4067
    @gok_emphazizproductions4067 12 днів тому +2

    For real this is not right, why should we have to get violated because they are to incompetent to do there jobs.

  • @traceyflemons9006
    @traceyflemons9006 8 днів тому +2

    Nope! Dont do it!!!

  • @virgilio1956
    @virgilio1956 13 днів тому +1

    There are at least three more lawsuits in three different states that are pending.

  • @josephgarbacik4350
    @josephgarbacik4350 13 днів тому +2

    Do not file end of story.

  • @davecancel7084
    @davecancel7084 12 днів тому

    If you are a licensed business through your state and pay taxes,then they have all your information already, all they have to do is check the state business registry in each state. Too much work for the government, they want it in a centralized location, so they don’t have to research it in every state individually.

  • @philharris893
    @philharris893 9 днів тому

    Is it the same two Texas Judges that are supporting their two sons that have multiple shell companies that are filing patent infringements against several companies, anyone?

  • @toshibavoodoo
    @toshibavoodoo 13 днів тому +3

    Dont file... just keep eye open incase Big Brother wins

  • @josephgarbacik4350
    @josephgarbacik4350 13 днів тому +2

    Maybe folks shouldn’t take bad advice from anyone seeking to profit from such nonsense. Never file and waive your rights to privacy.

  • @jayprakashsingh2277
    @jayprakashsingh2277 12 днів тому

    yes , I had filled the BOIR

  • @Mr_Then
    @Mr_Then 14 днів тому

    Well said

  • @zakross
    @zakross 13 днів тому

    Get well soon with the pink eye mate

  • @eppsislike
    @eppsislike 13 днів тому +3

    I ain't sharing shite

  • @interstatebullly3nyg551
    @interstatebullly3nyg551 13 днів тому

    If the law rules i dint have to then yea i'lll pass. When they sre transparent with taxes maybe ill consider

  • @jotu173
    @jotu173 16 днів тому +7

    Just some food for thought. I was VERY impressed with all of your videos on this subject until this one. You were SUPER slow with making this video (thanks for, at least, acknowledging that fact). Additionally, your entire tone pretty much clearly displays what you actually say... roughly "I am tired of making videos about this". While that may be so, you started it so you should be GRATEFUL (instead of almost resenting it) that your viewers find value in this subject, and (most likely) to most of your viewers, the fact that you are tired of making videos about it is a REAL turnoff. just sayin'.

  • @DYDtv
    @DYDtv 2 дні тому

    1:24 "If you are not doing anything illegal and there is nothing really to hide, then I would just file it". What a moron. This is how our privacy is lost.

    • @JamesBakerCPA
      @JamesBakerCPA  2 дні тому +1

      Many people have LLCs in states that show them as managers with public ownership and the banks already know who you are. So no privacy is lost for many many people because it wasn't private in the first place.
      If you are ultra private then dont file. I'm just sharing info

  • @josephgarbacik4350
    @josephgarbacik4350 13 днів тому +4

    Run away from such horrible bad advice.

  • @StevenHernandez-xu1iu
    @StevenHernandez-xu1iu 14 днів тому +1

    I didn’t even know about this 😂 oops

  • @leez8446
    @leez8446 12 днів тому

    This guy wants to you to pay him to file the stupid BOI.

  • @ANDRESR2
    @ANDRESR2 11 днів тому

    To late

  • @FlrLdy
    @FlrLdy 10 днів тому

    We filed early for clients. We are satisfied with our efforts on their behalf.

  • @charduar6972
    @charduar6972 7 днів тому

    Don't file not fair for small guy until all Ned 2 file