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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.
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.
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.
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.
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.
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
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.
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.
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.
@@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.
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..
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.
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.
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.
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.
@@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).
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
@@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.
"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.
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!
@@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!
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
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...
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.
@ 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
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.
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.
@@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. 😆)
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.
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?
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'.
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.
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
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
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.
A WIN FOR PRIVACY
Should probably do an update to this. Unfortunately, as of today, the CTA was reinstated.
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.
@@GoldClaw7 Do you know if this will be livestreamed (the court) today? If so where can I find it?
It was removed again today
I DO NOT CARE. I WILL GLADLY FIGHT THIS IN COURT. OUR FOUNDING FATHERS ARE ROLLING IN THEIR GRAVES.
What does it mean removed? Should we file BOI or not now?
It was just reinstated on December 23rd, due by January 13th if your business received its EIN before 2024.
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.
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.
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.
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.
@ 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.
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
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.
Trump will ax this BS.
he vetoed it last time, and they over rode his veto
@@virgilio1956 True, but maybe not this time. There is a majority in both house and senate now.
Thank you James for the update!! Those are great news! Saludos.
My pleasure!!
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.
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
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.
Exactly, just like the jabs!
I appreciate your candor and accessibility James!
I was planning on filing suit against cta but the Texas judge saved me the time to seek an injunction.
NEVER EVER GIVE THE GOVERNMENT INFORMATION THEY DON'T NEED.
Please update about BOI, do we need to file BOI or not?
Great video, I'll follow more of your content.
Why file if you don’t have to anymore?
plus for some it is not the information which have to be release but the "cost" - just another fee to take our money.
@@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.
plus a $349.00 "filing fee" WTH! We already file with the Secretary of State.....
I believe it's on the fincen.gov for free ... However, I held off and will wait .. mainly because all the information is already on file at the state level AND IRS business and scheduled C.. and another place for hackers to steal identitys..
There has been an update and every one has to file again smh! This should be illegal! People should go out and protest or stop making llcs and do business under the table.
What about Florida ?
My friend tried to file his but he kept getting errors I wonder is this the reason
God Bless you dearly for keeping us updated. I love your page and I hope you're blessed in 2025 ;-)
My Real Estate Attorney and my Tax Attorney both advised me to file, simply because the information is already out there, and why risk being fined for not filing.
What if you already filed one, can you resend it?
Sometimes, procrastination pays off, but I didn't procrastinate enough....filed the BOI the day before the Texas ruling. 😂 It was a quick filing, but I really resent the heavy handedness of this law...jail time is a bit severe for just not filing a report on time. Many people don't file 1040s for years or ever....willful failure to file is hard to prove for the government.
If there is a Constitutional argument being sustained by the court calling the law Un Constitutional, and I tend to agree, why file?
I hate when anyone tells folks "if your LLC wants to volunteer information" , tend to pay close attention. Further more 500$ penalty on the little guys. SMH.
@@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).
The law is not unconstitutional.
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
@@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.
As a business man down the street from you, and I'm not feeling anymore regulation unnecessary.
"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.
My LLC is inactive so I qualify for the exemption (to not file it).
Do you get paid to prepare these for others?
We do it for free for our clients
Takes 5 minutes but my CPA attorney followed this lawsuit. So no we all did not file.
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!
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?
This is the one time procrastination paid off for me.
Trust needs to report? It is not clear, since trust is private common law that is not registered with a state. Thanks.
I already filed dang it.
Did that not just change???? The twenty third of december???
"Just get it over with" he says, never watching this guy again...
Right lol
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!
@@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!
Agreed
They said u don’t need so why ur saying go and apply ?
It's because it's only not required temporarily. It will probably be required again
This cpa needs money.
What if i have a daycare but didn't take out an LLC? Do i need to file a. LLC and a report?
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
Yes, it’s something you can file yourself and there is NO FEE to file.
Yes, free if you do it yourself. takes 10 minutes
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...
Thats like iust getting the jab to get it over with.. for what if i dont needit
Could you please talk about international business bank account for LLC company 🙏
I’ll add this to my list, thanks for the comment.
Its like a Déjà vu of the Garland ATF pistol brace rule.
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.
The Texas ruling is more broad. There are a bunch of good videos about it online
@ 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
I already paid for this form last week . I did this by company in USA its cost me 475 $😢
Who did you pay it to? It's a free report, and it takes 5 minutes to file.
But I think you paid to create the company, that probably included the BOI filling, but the report is free.
Wow. They scammed you. It does not take $475 worth of work.
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.
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.
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!
it worked for me no problem.
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.
Never do it non of there biz
I opened an llc in this 2024 but am not doing any business yet. Should I need to file a Boi?
Yes mandatory
Really weird take on this IMO
Govt intrusion
The biden admin is a serious joke
This was Congress that did this whom is the republican majority..
. Learn how government works🙄
UA-camr dude! I filed! So what are they going to do with my information.
Good question!
In two months hackers will have it, along with a copy of your Drivers License to get loans... duh.
@ 😂😂😂yesir. With a class action lawsuit.
@@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. 😆)
For real this is not right, why should we have to get violated because they are to incompetent to do there jobs.
Nope! Dont do it!!!
There are at least three more lawsuits in three different states that are pending.
Do not file end of story.
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.
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?
Dont file... just keep eye open incase Big Brother wins
Maybe folks shouldn’t take bad advice from anyone seeking to profit from such nonsense. Never file and waive your rights to privacy.
yes , I had filled the BOIR
Well said
Get well soon with the pink eye mate
I ain't sharing shite
If the law rules i dint have to then yea i'lll pass. When they sre transparent with taxes maybe ill consider
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'.
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.
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
Run away from such horrible bad advice.
I didn’t even know about this 😂 oops
This guy wants to you to pay him to file the stupid BOI.
To late
We filed early for clients. We are satisfied with our efforts on their behalf.
Don't file not fair for small guy until all Ned 2 file