This might be the most evil law of our lifetimes, will destroy countless small businesses.
@sharaudramey9336
8 ай бұрын
Yea
@lilderzio
7 ай бұрын
just curious and tryna gather more info. how will this destroy many small businesses?
@nicholasblakiston6297
7 ай бұрын
@@lilderzio how many $500/day penalties do you think the average small business could withstand before it or its owner is broke?
@heartstrings110
5 ай бұрын
It’s a financial crimes website.
@coachcortneyrose
6 ай бұрын
Incredibly informative breakdown of the Boi reporting requirements! 👍 Your clear explanations and step-by-step guidance make navigating this complex law a breeze. Thanks for sharing your expertise!
@Brownmanifesting
8 ай бұрын
Great information, very detailed thank you! I've shared your video.
@JourneyWithUsMoveToAfrica
8 ай бұрын
Ooooo, this is excellent information. Thanks!
@DavidOldenburg1
3 ай бұрын
Great video I had no idea... subbed thanks!
@Helloo0oo-k
2 ай бұрын
Thank you for the valuable information. I think your information will be of great help. However, in my case, there is an inc. headquartered in Japan and an inc. in California, and of course, 100% of the shares are owned by the head office in Japan. How should I report this case?
@MacPolo68
8 ай бұрын
Thank you for all your help
@jacksontorres2932
7 ай бұрын
What is the process if you need to change the information filed in your BOI? For example, if a members/owner changes address.
@VJDagoat
8 ай бұрын
What if you have a Living Revocable Trust are those exempt from filing?
@jaymoney1224
9 ай бұрын
Money grab. Knowing 60% of people will slack 🤦♂️ I’m setting some reminders. Like c’mon. Inactive entities aren’t even safe?
@rashadgray302
8 ай бұрын
Thanks for the information. I was interested in registering an LLC for my small business venture this year, but after hearing this I'll go ahead with a sole proprietorship and pay for liability insurance. This law is ridiculous and asinine.
@LeeSmith-f4f
9 ай бұрын
Don't you already do that with taxes?
@workphone4210
8 ай бұрын
THE GOV & IRS ALREADY HAVE THAT INFO WHEN FILING TAXES. BASICALLY U WANT THEM TO SNITCH & OR DO YOUR JOB FOR U TO C IF THE NUMBERS ADD UP. BUT YET TRILLIONS OF $ CAME UP MISSING THE DAY B4 911
@countryboy-bk7ke
7 ай бұрын
i dissolved my llc in 2021 so i wouldnt have to file right?
@edwarddell9211
9 ай бұрын
Land of the free 😂
@amt7877
9 ай бұрын
Communism starting slowly in America
@laurice8056
9 ай бұрын
@edwarddell9211 It feels more like, “Land of the FEES!”💸💸💸
In many states in our area, LLC owner information is public information. The only way around being public is if you have a LLC registered agent on file with SOS, and tax forms are provided to every member. So, I’m confused about the creation of this new law.
@matty8272
8 ай бұрын
To much government.
@danfontaine6992
9 ай бұрын
This makes no sense to me because every year you have to redo your status with your LOC and the government already has all this information for starting your LOC does this form cost any money
@kentonfilipowicz8153
6 ай бұрын
Can you imagine how many people won't resubmit BOI's with changes like address or new partners, ect. That seems almost impossible for the feds to keep track of.
@TravelsoFun
9 ай бұрын
This is such important information. Thank you once again for sharing this information with us.
@johnsaltzohuigin6660
8 ай бұрын
Try an Express Trust under the Common Law instead of a LLC.
@aliashhad4741
8 ай бұрын
If a foreign person files for an LLC does this Law Apply to him? Or is it Exempt?
@nvmman9977
27 күн бұрын
did you get the answer?
@pablogomez631
9 ай бұрын
Great info. I coincidentally learned about this new BOI yesterday… Couple of questions: (1) Is the information provided kept confidential? The whole purpose of having an LLC is for liability protection and not having assets on your own name. (2) What happens if an LLC is owned by another LLC? Is it sufficient with informing the parent company name, or it is necessary to continue up on the ladder through trusts, etc. until, eventually, names?
@yosquidd242
9 ай бұрын
Why would the state or feds sit on these changes. If they are so important. So us the government forms.
@rashadgray302
8 ай бұрын
This just seems really unnecessary 😒
@CrumbSnatcher36
8 ай бұрын
So clear and concise! Thanks
@Xue268
2 ай бұрын
Sherman, Can you please help me here? I tried to file online but it ask for ENI #, so I punched the ENI and it show an error, should I input my SSN instead of ENI? Thanks for your time to answer my question.
@ballislifemo
2 ай бұрын
Brother can you do a walkthrough video on how to step by step complete this process ? I want to make sure I get it correctly because I’m new to the LLC game I created mine like 9 months ago and don’t have a clue about Any of this . Or if I can call or message for help , anything helps
@Jose.Couceiro
2 ай бұрын
Thank you for such an informative video. Help me a lot filing my report.
@cmdr-reflipd
8 ай бұрын
But why?
@amber.ascends
6 ай бұрын
My husband and I both have LLCs and were kind of stressed out because we did not know how to do this. As soon as the video was over, I was able to get it done in less than 15 minutes! I took my time to make sure everything was filled out correctly. Thank you for these amazing videos! I just discovered your channel and have already learned so much.
@amber.ascends
6 ай бұрын
@mycpacoach I just shared your video with my community. I love your videos. They are not boring at all and you are a great communicator. Thanks again!
@mycpacoach
6 ай бұрын
Glad it helped, Amber! Thank you for watching.
@garmenyahcambry6357
9 ай бұрын
Very helpful ! Thank you
@JesusRodriguez-ru3ui
8 ай бұрын
Another Great video! I like how you break things down. So are you still with LYFE TAXES? Or is this your new business?
@MasivosPromo
Ай бұрын
Am I responsible for the 2024 BOI Report after leaving an LLC in 2023? Am I liable if current members fail to file?
@user-uk8me5xp2s
Ай бұрын
If you followed the procedures to leave an LLC then no, your not liable.
@j.rlopez5518
9 ай бұрын
How about if you dissolved the company?
@fee_ic4981
9 ай бұрын
You probably have to register under another business and never go back to that one Again 😢💰💰💰💰 fees would be so High
@cheriebenjamin0315
9 ай бұрын
If it’s a inactive entity you are exempt from filing according to the video but still speak with your CPA to be sure
@ayiviayite3747
9 ай бұрын
Thank you for the information
@tonzbal_88
8 ай бұрын
Is there a fee to do this filing?
@The1Lovelee
9 ай бұрын
Thank you for doing this video. You are appreciated.
@demariojefferson1988
8 ай бұрын
Man this is some BS
@MispelledOnPurpose
8 ай бұрын
I had to obtain a tax number after opening an estate for my parent last year. Then I had to get a bank account in order to receive the funds from the sale of property for the estate. Everything is still open, not finished. Does this fall under the new law? It's never been listed as an LLC that I know of. Everything is titled "The Estate of (name)".
@Vivtmbs1
8 ай бұрын
What if you legally closed the LLC 3/2023? Not exempt ?
@mobentley3235
9 ай бұрын
Thank you
@DavidVause
8 ай бұрын
You are the best!
@versitile360
9 ай бұрын
THANKS
@kemetreasures5630
8 ай бұрын
All the information is with my registered agent.
@noiseguru3981
8 ай бұрын
these new laws are to arrest marijuana farms after they reverse marijuana laws again.
@TanikaTia
8 ай бұрын
Can you do a video on how to name your LLC as an entrepreneur?
@kemetreasures5630
8 ай бұрын
Thank you for the information
@thetruker2379
8 ай бұрын
If I close my LLc now do I still have to file
@jahnelss
9 ай бұрын
Aren't trusts and parent companies exempt from filling the BOI?
@sblijheid
9 ай бұрын
Go read fincen's website. Don't leave anything to chance.
@bqueen83
8 ай бұрын
thank you!
@JesusRodriguez-ru3ui
8 ай бұрын
How could I get in contact with LYFE? I am a 2023 customer and did my taxes with you guys. I need a basis worksheet. I never received it. Please let me know what I can do thank you
@CreatedbyZyaire
8 ай бұрын
Very insightful & calmed all my worries.. thank you for this video
@carsonjamesiv2512
9 ай бұрын
Interesting.😃👍
@carolecoffman4276
8 ай бұрын
Thank you for doing this video.. Would’ve known anything about it without this video..
@mybeautifullife9333
8 ай бұрын
When is this due
@mikabeckley2784
7 ай бұрын
I believe he said 1 Jan 2025
@JBLLC2021
9 ай бұрын
Hi sir , thanks for the info bro. If i have a "sole membership", you said, it's not required right.
@mycpacoach
9 ай бұрын
Correct, this only applies to LLCs and Corporations according to FinCen.
@JBLLC2021
9 ай бұрын
@mycpacoach ;,how can i show you the paperwork?
@JBLLC2021
9 ай бұрын
@mycpacoach :my llc is a" sole membership ".
@cdv.8244
9 ай бұрын
I will be starting a side hustle in 2024. Will I have to file ?
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