I had the same problem in Europe with my business that I ended up closing. I would receive penalties for laws and regulations I wasn’t even aware of and have never been informed . They try to rip us off and destroy businesses.
I was wondering if I was the only one who didn't get a letter. I let people know on Facebook about this, I have a lot of self employed friends. Some people thought my account had been hacked and that the link I provided to the FINCEN website was some type of scam.
@ you got me wrong, I support the woman’s right to choose what she does with her body, but once she becomes pregnant, it is no long just her body anymore. But nice try.
The government’s approach to the BOI filing requirements feels unfair-wealthy individuals and entities are often exempt, leaving smaller businesses and individuals to shoulder the burden. This disparity feels discriminatory. Moreover, the IRS already has access to much of this information. If the government can fine someone $500 per day for non-compliance, doesn’t that imply they already know who the Beneficial Owner is? It seems contradictory and unnecessarily punitive.
Pay your yearly stay out of jail license. Always use crime fighting as excuse to further limit our freedoms.. Criminals will always adapt. Jail time if you don't update an address total bull shit.
I found it confusing and it took me about 20 min to file because I did not have a file of my driver's license or passport to upload. Hope you did not skip that part or it might cost you $500 a day.
Information they already should have. Simply shows that they simply lack management, shows favoritism to larger businesses, & breeds "mistrust" of leadership.
You are legally incorrect. This "bill" should be taken to the Supreme Court. It is a violation of the 4th and 10th amendments in its language and appeal; in that by federal law anyone who is not suspected of a crime is permitted complete anonymity. An investigation of crime (why they claim they have passed it) does not give them the right to invade my privacy. Which brings me to the 10th amendment and states rights. When I filed my LLC I was told by the State of Delaware that I did not have to disclose to anyone who I am or the makeup of my business. This bill should be struck down as it violates my constitutional rights. If a someone in a crowded room committed a crime, it is unlawful to demand everyone's ID. It has no legal merit but overreach. I am entitled by my 4th amendment right to privacy, even from government. I will file this, under the threat of $500 per day and imprisonment. I think it's funny, your rights are being taken every day and you advocate for it. A system where the ruling class can inflict violence; monetarily or physically on its citizens and the only recourse they have is years of financially taxing trials from one court to the next is inherently doomed. Enjoy your slavery.
you said "by federal law anyone who is not suspected of a crime is permitted complete anonymity." and the issue here is many people from other countries and people inside the country are making bogus LLC's using them to conduct illegal activity, selling drugs and using the LLC to facilitate laundering money and scamming people. The person uses bogus info when registering so when a crimei s committed law enforcement has nothing to go by. It's a growing problem for 3 years which again complies with what you said. Now, they have to suspect all companies to be doing crimes. The larger companies have to do this if they don't already. The exclusion to banks and other companies are because they already are regulated and do this for other entities.
Thank you for letting me know. Nobody tells you these things, honestly the government is so unorganized, when you file your llc there should be a link and notice that you need to do this too. It's 2024 for Christ's sake, they can't do a better job?
The government’s approach to the BOI filing requirements feels unfair-wealthy individuals and entities are often exempt, leaving smaller businesses and individuals to shoulder the burden. This disparity feels discriminatory. Moreover, the IRS already has access to much of this information. If the government can fine someone $500 per day for non-compliance, doesn’t that imply they already know who the Beneficial Owner is? It seems contradictory and unnecessarily punitive.
Wait... 20 employees and $5,000,000 companies are exempt. Purpose is to stop money laundering, human trafficking, etc. Are they only targeting unsuccessful illegal businesses?
Exemption 23 for inactive entities says that if you existed on or before 1-1-2020, are not engaged in active business, not owned by a foreign person, has not changed ownership in the preceding 12 month period, has not sent or received any funds greater than $1000 nor hold any assets in the U.S or abroad, then you do not have to report. My father owned an LLC since 2012 but hasn't used it in years. He died 4 years ago buy my mother is also a name on that LLC. She didn't even know that she was on there. This entity meets all 6 requirements. I assume that means she doesn't have to report as she didn't even know it existed?
This helps my attitude. I was pretty annoyed and concerned about more government meddling...but I can explain this to my clients better now. (I'm a CPA)
How can this be enforced if a business is not informed of this going into effect? We haven't nor has any business owners we know been sent notice by the feds. We should have received notice by mail, but we haven't.
Hi there, I am already a customer of Main Street , you company set up my LLC, I already paid $250 for the maintenance service. My question is, do I need to pay $200 for this report to be file? Or I can just call Brandy ODell? (She is great btw). Thank you!!! You 2 rock!!
I have a few LLCs that i created in 2022 and haven't filed yet. Do i have to pay a huge fine / penalty now? How come i never got anything in the mail or notifications i needed to pay this sooner?
I heard they didn't want anyone to know because they wanted businesses to fail because so many people got LLC's and opened businesses during covid and they'd prefer you be an employee slave instead.
Because they don't know your business exist unless you file. So how are they going to fine all these businesses?? LLCs are already registered with the state.... they already have this information.
Question on the physical address. I live abroad and run my business online. If I can't use my US POBox address as my physical address, should I use my foreign address? Or use a family member's home address? Thanks for the awesome video!
I tried. Was not able to submit due to the gov side. The state knows everything since I registered with state. Undue complicated and burdensome, the definition of government.
My CPA told me about this when I filed this year's taxes. I was about to open my seasonal business for the year so I scheduled it for this month. Time to get it done. Also, this video goes dark around 30:00. Did that only happen to me?
I abandoned my S-corp because the IRS fucked up all my taxes. I spent seven years trying to work it out but they hire the stupidest people and pass you around over and over and never keep notes. It's disgusting. I never closed my business officially. I now have a new LLC which I want to convert to S Corp. I know how to do the election but it seems maybe it would be wise to employ your team
Who needs a boi report? Exporting: Companies involved in exporting goods, technologies, or services, especially those that deal with sensitive or controlled items that are subject to government regulations, such as national security concerns or trade restrictions. Foreign Investment: Businesses receiving significant foreign investment, especially if the foreign investor has an ownership stake that crosses specific thresholds (often 10% or higher in some countries). International Trade: Companies engaged in international trade, especially in sectors like defense, aerospace, high-tech, and certain telecommunications, which might require reporting for compliance with trade laws. Certain Manufacturing and Technology Sectors: Industries involved in manufacturing products that could have military or dual-use applications, requiring compliance with export controls or other industry-specific regulations.
"I love the smell of bureaucracy in the morning" . The best advice I ever got from an attorney,"If you want to do something, find out what the penalty is, if there is no penalty, go ahead and do it", now there is a penalty for the bad guys.
What address (LLC address) would you put if you have an LLC but everything is registered to the address of an attorney, so the Sec of State only has this address with banks I usually provide my residential address? Thank you
Here's a question i have; what about my 10 year old boy who has a side hustle mowing lawns for cash? You expect a 10 year old to create an LLC and comply with federal regulations on small businesses? My response, pound sand. I am not going to set up an LLC in my name for this, nor will i ser one up in his name. Feds show up on my property, can FAFO.
When you have a structure of rental llcs linked to a grouping llc which is finally linked to an overseas trust. Each of these levels have EINs and i do 3 tax returns, the top entity and then personal tax returns. My understanding is that i need complete a return for each entity that has an EIN . What i find strange is that the system doesn't seem to link each level to the next or am i missing something
What I'm confused about is how people who must file who have never been to the USA or even left their country fill out the form. What if they dont even have a passport? How could they even get a fincen id??? Just because they file a paper here or own private equity shares here?
If all this information is located at the State level, why doesn't the federal government just request the information from the SecState of each State? This is just more information the government will collect and lose to a cyber attack.
This is so BS… let’s make it more putative for average everyday people to run their business. I’m glad the legislators who only protect special interest groups who got them elected came together on this bipartisan bill… can’t do anything constructive together, but screw over the working class - no problem.
Our CPA sent us notice and we did it. Not sure why the ‘news’ about this is not out there - it was new to us, and at first I thought it was perhaps a scam, as our CPA’s email was hacked last year. But, it is legit, a fraud compliance ‘something’, and like one commenter said, only took 30 seconds to fill out and return.
Fun fact! The Corporate Transparency Act, aiming to increase business transparency by requiring companies to report their true owners, was passed in 2021. It became law after Congress overrode President Trump’s veto as part of the National Defense Authorization Act. Starting in 2024, many businesses must file a one time report on their beneficial owners with FinCEN, helping to combat money laundering and improve financial transparency!
@ No. there is a 30 day requirement. Whatever everyone is working on right now is the initial report. In general, you must report changes or corrections within 30 days of the change or correction. After the 30 day period runs and you’ve not Reported the change or correction the penalty is about $600 per day and up to a $10,000 criminal fine. But don’t get too excited about that because you also face up to two years in a federal penitentiary.
We had a business under a DBA filed through Schedule C, with its own EIN. Haven't used it for over 10 years. I assume we don't have to report it, but do we have to "dissolve" it?
DBA isn't an entity registered with the secretary of state, so no, you don't have to dissolve your DBA, but if it's tied to an LLC, you do. Did my BOI reports today. Easy.
I am a member of an LLC. One member died in September. That member was the manager. Do we include them on the file? How to handle this situation? What about revocable and irrevocable Trusts that holds real-estate? What if a revocable trust owns the membership?
Hopefully, it is nulled, but all people filling on their own plus greedy lawyers charging to file for customers may sway the law makers to keep it due to majority filing.
You mentioned that the entity might be dissolved. If it was dissolved by the state (say 15 years ago) - do you still need to report it on the BOI? (Also... what about if you only filed an 1120s the first year but then never again because you never used it again.)
i registered a business name, but didnt do the business, so no LLC, dont need to, is that correct. Someone sent me a card that had my business name on it. The one I never used for anything. Wonder who is trying to be a fraud
Great question. My series llc is registered in Delaware. I think if you have your series as " protected" where only the parent is registered that should suffice. Don't quote me though.
Millions of businesses but not one letter from the govt about this to any of them.
I had the same problem in Europe with my business that I ended up closing. I would receive penalties for laws and regulations I wasn’t even aware of and have never been informed . They try to rip us off and destroy businesses.
You just confirmed my suspicions. WTF!!!
I was wondering if I was the only one who didn't get a letter. I let people know on Facebook about this, I have a lot of self employed friends. Some people thought my account had been hacked and that the link I provided to the FINCEN website was some type of scam.
This is just a mass registration for a future asset seizure scheme. It is the first step for bureaucratic lawfare to end small business.
EXACTLY
1 more reason to return the federal government back to its original constitutional size and scope
oh yeah that will happen 1776! yeah get locked up
I'm guessing you were all about not caring about the bodily autonomy of women, a most basic freedom....
@ you got me wrong, I support the woman’s right to choose what she does with her body, but once she becomes pregnant, it is no long just her body anymore. But nice try.
It's unconstitutional for everyone.
the IRS already have the business information.
Constitution?
taxes are unconstitutional, all of them.
The information is good, but they’re trying to sell their services. That’s why they don’t tell you everything up front.
The government’s approach to the BOI filing requirements feels unfair-wealthy individuals and entities are often exempt, leaving smaller businesses and individuals to shoulder the burden. This disparity feels discriminatory. Moreover, the IRS already has access to much of this information. If the government can fine someone $500 per day for non-compliance, doesn’t that imply they already know who the Beneficial Owner is? It seems contradictory and unnecessarily punitive.
It's just another way to harass people and steal people's money.
Pay your yearly stay out of jail license. Always use crime fighting as excuse to further limit our freedoms.. Criminals will always adapt. Jail time if you don't update an address total bull shit.
and the patriot act was just going to protect us from those bad terrorists too
Republicans are always performative to the country's detriment. Taking away freedom isn't a new pastime for them.
Best small business channel in on the net. So much information. THANK YOU!!!
I did it this week… it takes 30 seconds… it’s only your name, address and EIN number.
How could an LLC member confirm the reported status of their BOI filing?
I found it confusing and it took me about 20 min to file because I did not have a file of my driver's license or passport to upload. Hope you did not skip that part or it might cost you $500 a day.
@@gregorydepol2655 You can take a picture of your driver's license and email it to yourself if you're filing on a computer.
Until it becomes more and more and more complicated ala big government and then associated filing fees.
Information they already should have. Simply shows that they simply lack management, shows favoritism to larger businesses, & breeds "mistrust" of leadership.
You are legally incorrect.
This "bill" should be taken to the Supreme Court.
It is a violation of the 4th and 10th amendments in its language and appeal; in that by federal law anyone who is not suspected of a crime is permitted complete anonymity. An investigation of crime (why they claim they have passed it) does not give them the right to invade my privacy.
Which brings me to the 10th amendment and states rights.
When I filed my LLC I was told by the State of Delaware that I did not have to disclose to anyone who I am or the makeup of my business.
This bill should be struck down as it violates my constitutional rights.
If a someone in a crowded room committed a crime, it is unlawful to demand everyone's ID. It has no legal merit but overreach.
I am entitled by my 4th amendment right to privacy, even from government.
I will file this, under the threat of $500 per day and imprisonment.
I think it's funny, your rights are being taken every day and you advocate for it.
A system where the ruling class can inflict violence; monetarily or physically on its citizens and the only recourse they have is years of financially taxing trials from one court to the next is inherently doomed.
Enjoy your slavery.
you said "by federal law anyone who is not suspected of a crime is permitted complete anonymity." and the issue here is many people from other countries and people inside the country are making bogus LLC's using them to conduct illegal activity, selling drugs and using the LLC to facilitate laundering money and scamming people. The person uses bogus info when registering so when a crimei s committed law enforcement has nothing to go by. It's a growing problem for 3 years which again complies with what you said. Now, they have to suspect all companies to be doing crimes. The larger companies have to do this if they don't already. The exclusion to banks and other companies are because they already are regulated and do this for other entities.
Great comment
Best post. Better than the video.
This.
if doesn't infringe on your rights. There's people running businesses and not reporting a dime to the IRS which is tax evasion.
Did it last month- complete with patience and it is done!✔️
my point is how has the people been notified? we weren't
Thank you for letting me know. Nobody tells you these things, honestly the government is so unorganized, when you file your llc there should be a link and notice that you need to do this too. It's 2024 for Christ's sake, they can't do a better job?
The government’s approach to the BOI filing requirements feels unfair-wealthy individuals and entities are often exempt, leaving smaller businesses and individuals to shoulder the burden. This disparity feels discriminatory. Moreover, the IRS already has access to much of this information. If the government can fine someone $500 per day for non-compliance, doesn’t that imply they already know who the Beneficial Owner is? It seems contradictory and unnecessarily punitive.
Wait... 20 employees and $5,000,000 companies are exempt. Purpose is to stop money laundering, human trafficking, etc. Are they only targeting unsuccessful illegal businesses?
unfortunately, only the poor mom and pop small time side hustle people are being harassed
I thought you had to use your personal info to start the LLC ? Why cant they pull it from there?
You should start with what BOI stands for.
Why did they not send letters to our registered agents?
Exemption 23 for inactive entities says that if you existed on or before 1-1-2020, are not engaged in active business, not owned by a foreign person, has not changed ownership in the preceding 12 month period, has not sent or received any funds greater than $1000 nor hold any assets in the U.S or abroad, then you do not have to report. My father owned an LLC since 2012 but hasn't used it in years. He died 4 years ago buy my mother is also a name on that LLC. She didn't even know that she was on there. This entity meets all 6 requirements. I assume that means she doesn't have to report as she didn't even know it existed?
This helps my attitude. I was pretty annoyed and concerned about more government meddling...but I can explain this to my clients better now. (I'm a CPA)
"It's private" until it is not, all the data on the Secretary of State's website is regularly sold to whoever and then it ends up on the search engine
Secretary of State information is generally public
Oh gosh the government with their transparency. Thank you for this update .......
How can this be enforced if a business is not informed of this going into effect? We haven't nor has any business owners we know been sent notice by the feds. We should have received notice by mail, but we haven't.
Exactly this. 😑
Mat for Speaker of the House! First order of business: get rid of the BOI! 😁
Its going to be way more than that. Elon said 2 Trillion is getting chopped.
Why didn't registered owners get a letter? I didn't get any notice. Tf!
Hi there, I am already a customer of Main Street , you company set up my LLC, I already paid $250 for the maintenance service. My question is, do I need to pay $200 for this report to be file? Or I can just call Brandy ODell? (She is great btw). Thank you!!! You 2 rock!!
Who do you see for your business structuring and wealth planning? I.e your trifecta
This is included in your maintenance (as I understand it)
It super easy. Not talked about enough but definitely not something to be worried about.
I have a few LLCs that i created in 2022 and haven't filed yet. Do i have to pay a huge fine / penalty now? How come i never got anything in the mail or notifications i needed to pay this sooner?
Exactly 🙄
I heard they didn't want anyone to know because they wanted businesses to fail because so many people got LLC's and opened businesses during covid and they'd prefer you be an employee slave instead.
Its all bs.
Because they don't know your business exist unless you file. So how are they going to fine all these businesses?? LLCs are already registered with the state.... they already have this information.
@rosesarered3904 I'm curious to hear the answer. Good point
I just did it. It took me 20mins to do that. If you are taking 30seconds
then likely you can do mistakes.
What is the website name to file BOI?
Do you need this if you only have an EIN, but did not register?
I'm sure that it will be private - for about 10 seconds.
ill bet less than that Sir!
Question on the physical address. I live abroad and run my business online. If I can't use my US POBox address as my physical address, should I use my foreign address? Or use a family member's home address? Thanks for the awesome video!
I heard about this and did it. However, how come nobody told owners about it
Bcus they want to set everyone up.
Sue if they come for you and tell them you received no official notification.
This is disgusting.
How do you file the ownership if your retirement account owns the LLC?
I WAS DONE 10 MINS IN ... I BE CALLING YALL IN THE MORNING...
Why not big businesses aren’t they the once doing all the x trafficking and laundering ? How small businesses got time and money for that ?
Exactly. This is BS. 😑
I tried. Was not able to submit due to the gov side. The state knows everything since I registered with state. Undue complicated and burdensome, the definition of government.
My CPA told me about this when I filed this year's taxes. I was about to open my seasonal business for the year so I scheduled it for this month. Time to get it done.
Also, this video goes dark around 30:00. Did that only happen to me?
Happened to us too.
Could it be the government trying to block pertinent information just so they can fine more individuals and make more money.
They keep saying LLC, but this also applies to qualifying corporations including S-Corps doesn’t it?
I abandoned my S-corp because the IRS fucked up all my taxes. I spent seven years trying to work it out but they hire the stupidest people and pass you around over and over and never keep notes. It's disgusting. I never closed my business officially. I now have a new LLC which I want to convert to S Corp. I know how to do the election but it seems maybe it would be wise to employ your team
Who needs a boi report?
Exporting: Companies involved in exporting goods, technologies, or services, especially those that deal with sensitive or controlled items that are subject to government regulations, such as national security concerns or trade restrictions.
Foreign Investment: Businesses receiving significant foreign investment, especially if the foreign investor has an ownership stake that crosses specific thresholds (often 10% or higher in some countries).
International Trade: Companies engaged in international trade, especially in sectors like defense, aerospace, high-tech, and certain telecommunications, which might require reporting for compliance with trade laws.
Certain Manufacturing and Technology Sectors: Industries involved in manufacturing products that could have military or dual-use applications, requiring compliance with export controls or other industry-specific regulations.
So all the privacy you talk about in other videos is gone now???
"I love the smell of bureaucracy in the morning" . The best advice I ever got from an attorney,"If you want to do something, find out what the penalty is, if there is no penalty, go ahead and do it", now there is a penalty for the bad guys.
What address (LLC address) would you put if you have an LLC but everything is registered to the address of an attorney, so the Sec of State only has this address with banks I usually provide my residential address? Thank you
You would think having an LLC provides all that needs to be known about a company. Why does an LLC even matter then.
So a regular online seller, who makes no money anyway, doesnt have to file, if there is no LLC right
What government agency is in charge of this law??
Who will be doing the fine?
All this is already filed with our SOS..
Thanks Guys you filed mine this year. Keep up the great work.
Greetings, hope you are well. What company do you use for your business structuring / wealth planning? I.e trifecta
Here's a question i have; what about my 10 year old boy who has a side hustle mowing lawns for cash?
You expect a 10 year old to create an LLC and comply with federal regulations on small businesses?
My response, pound sand.
I am not going to set up an LLC in my name for this, nor will i ser one up in his name.
Feds show up on my property, can FAFO.
Is this only for LLC
Where is my tax break/credit from the government as an incentive to comply without financial harm?
When you have a structure of rental llcs linked to a grouping llc which is finally linked to an overseas trust. Each of these levels have EINs and i do 3 tax returns, the top entity and then personal tax returns.
My understanding is that i need complete a return for each entity that has an EIN .
What i find strange is that the system doesn't seem to link each level to the next or am i missing something
What I'm confused about is how people who must file who have never been to the USA or even left their country fill out the form. What if they dont even have a passport? How could they even get a fincen id??? Just because they file a paper here or own private equity shares here?
Because this is an excuse to target the complying small business
I didnt set up an llc but i have 1 rental property just started renting out this year. Do i have to file a boi?
Aren't the databases available to the banks?
What do you guys mean by minutes done? I haven’t heard that before…
Does this apply to sole proprietor?
You wonder what’s the purpose of this bill
If all this information is located at the State level, why doesn't the federal government just request the information from the SecState of each State? This is just more information the government will collect and lose to a cyber attack.
What about sole proprietors?
Is there any place I can check if I have any LLC's that are inactive? I used some for real estate years ago and don't remember if i ever dissolved
My question also
My questions as well. I know that the my state lists them as inactive. I never used them and they have been inactive since 2010.
We need to petition for it to get rid of it.
What happened to rest of the video?
I am a baby busy and haven’t made any revenue yet. Do I have to file ? Is there a fee for filing ?
What if you have a non active LLC - ?
Does this apply to an LLC that was involuntary dissolved?
MATT FOLEY. … is the motivational speaker
I heard that extremely small business under 10 employees , like 1 is exempt ,sole proprietary
Is there a way to confirm if I've already done this? I'm starting to second-guess myself.
This is so BS… let’s make it more putative for average everyday people to run their business. I’m glad the legislators who only protect special interest groups who got them elected came together on this bipartisan bill… can’t do anything constructive together, but screw over the working class - no problem.
So this does not apply to private companies correct?
Is that done every year or just one time?
Our CPA sent us notice and we did it. Not sure why the ‘news’ about this is not out there - it was new to us, and at first I thought it was perhaps a scam, as our CPA’s email was hacked last year.
But, it is legit, a fraud compliance ‘something’, and like one commenter said, only took 30 seconds to fill out and return.
its getting to point with all fee and reports to just go off the map
What about Shein Amazon and Temu just to name a few?
they're too big to do this
Fun fact! The Corporate Transparency Act, aiming to increase business transparency by requiring companies to report their true owners, was passed in 2021. It became law after Congress overrode President Trump’s veto as part of the National Defense Authorization Act. Starting in 2024, many businesses must file a one time report on their beneficial owners with FinCEN, helping to combat money laundering and improve financial transparency!
Sorry but it is not a one time report
@@jbscpaIs there a yearly requirement to update the BOI?
@ No. there is a 30 day requirement. Whatever everyone is working on right now is the initial report.
In general, you must report changes or corrections within 30 days of the change or correction.
After the 30 day period runs and you’ve not Reported the change or correction the penalty is about $600 per day and up to a $10,000 criminal fine. But don’t get too excited about that because you also face up to two years in a federal penitentiary.
@@jbscpaIf there are any CHANGES, then the biz has 30 days to report the changes. So its technically a one time report for many businesses out there.
Money laundering, drug dealing, human trafficking? Sounds like our federal government.
Is this something that will need to be done annually ?
We had a business under a DBA filed through Schedule C, with its own EIN. Haven't used it for over 10 years. I assume we don't have to report it, but do we have to "dissolve" it?
DBA isn't an entity registered with the secretary of state, so no, you don't have to dissolve your DBA, but if it's tied to an LLC, you do. Did my BOI reports today. Easy.
@TxFw Ok, that's what I thought. Thank you so much for your reply ☺️ 👍
I am a member of an LLC.
One member died in September.
That member was the manager.
Do we include them on the file?
How to handle this situation?
What about revocable and irrevocable Trusts that holds real-estate?
What if a revocable trust owns the membership?
I have 3 LLCs and none of them have made any money over the years... ( Back to school I go😅) Do I still have to file this???
Yes. It's easy to file for free and you can do so online.
Jail ! And $1500 a day for you 😩
Great timing guys. I couldn’t thank you enough ❤for
Is it only for LLC’s?
I opened an LLC in December of 2023 and dissolved it this year. Never used it, didn't make a dime. Do I still need to file finCEN?
Yes, if your business was formed in 2023 and dissolved in 2024, you are required to file the BOI report with FinCEN.
Even a doing business as? Dissolved in 2024?
I would like to know how you dissolved it. I have one I haven’t used and cannot figure out how to dissolve it.
I dissolved mine in 2023. So shouldn’t apply to me.
Hi Mark, I live in Canada... I would like to file my tax, any advice ,please? Thank you... ...
Is CTA same as BOI?
My siblings and I each own 20% shares of a real estate LLc do I need to file ?
Need to get the Trump team to take a look at this BS.
lol its the law already, just comply
@ It’s the speed limit….just comply.
Sole proprietary is exampt, small business
Wait for the NASB verdict in December.
Hopefully, it is nulled, but all people filling on their own plus greedy lawyers charging to file for customers may sway the law makers to keep it due to majority filing.
Who is exempt from the requirement ?
What do you think about Judge Burke's ruling in the Alabama lawsuit?
You mentioned that the entity might be dissolved. If it was dissolved by the state (say 15 years ago) - do you still need to report it on the BOI? (Also... what about if you only filed an 1120s the first year but then never again because you never used it again.)
That is my question Also
Solo proprietorship does not need to.
Enjoyed the video. Thanks for sharing
i registered a business name, but didnt do the business, so no LLC, dont need to, is that correct. Someone sent me a card that had my business name on it. The one I never used for anything. Wonder who is trying to be a fraud
This would only be agreeable "if" ALL businesses 🙄 at ALL LEVELS are required to file.
Exactly! 😑
Great Info! If we have a series LLC do we have to file the mother and then each sub LLC individually?
Great question. My series llc is registered in Delaware. I think if you have your series as " protected" where only the parent is registered that should suffice. Don't quote me though.
Don’t worry Trump is gonna take care of ALL this bureaucratic B.S.!!
Lol
unfortunately the deadline is midnight Dec 31, 2024 so people have to upload or be fined
@@DRventura333 fjb
I say if you've blown past foreclosure even with a misdemeanor, you don't get control of fees or control of the asset at all.
Do we have to file BOI for trusts? I've heard they are exempt, but you didn't mention that in this video...
Not if the trust is registered with secretary of state or similar office
@@TxFw how do I know that? I just followed directions on how to open one...
The address this in the video towards the last 5 mins. Don’t remember the timestamp.
Always love your channel 🎉👏👏👏
Bad advice about the van life address debacle. False or misleading disclosures are frowned upon on financial documents.
and subject to penalties or jail time.... why would they advise that