Mark - Rev Proc 2013-20 regarding late S elections requires "reasonable cause". Are you and your guests suggesting/promoting otherwise? Can you do so as a tax practitioner subject to Circular 230?

Thank you, Mark I want to get with you, Mark, and ask you some financial questions. Thank you Mary

I like this guy. I have an S corporation/import company and it is everything that he described. You obviously need a functional business model, but the S corporation is a much smarter way to operate… Thanks for the great video.

Some real estate lenders wont even work w you if you do not have llc

Why did they not send letters to our registered agents?

I completely understand everything discussed here in this video and have a pretty good understanding about such topics. However, the only part I’m not understanding is.. Why would I want to put my HSA in an LLC or even my Roth IRA in an LLC if you don’t take from the Roth until retirement the idea is that your already on a lot lower tax bracket and the HSA just really leaves me scratching my head! 😂🤷🏽‍♂️..ate you saying to do that just incase someone sues you and you need to protect your Roth IRA and HSA accounts from them!? And even if you are say that… the problem is an HSA is not enough to consider for a law suite, plus I’m not sure it’s legally allowed to be considered as an asset in a law suite, right!? It’s a very limited amount that you can contribute from your paycheque throughout the year (before tax dollars) to use on qualified medical expenses only… and honestly unless you just have a ridiculous high income with little to no other ways to lower your taxes it’s really a dog shit deal/idea I don’t even like using an HSA! 😂🤷🏽‍♂️…

The people of the 50 states are NOT TAXPAYERS. YOU agreed by fill ing out those forms of living in DC, GUAM, Puerto Rico, etc.

If you buy bitcoin and do nothing with it except put it in a cold storage wallet are there taxes for doing that?

I thought you had to use your personal info to start the LLC ? Why cant they pull it from there?

Damn. That’s confusing

hey here is a good idea that feels morbid, that dead hand of mr Learned Hand.. make an AI out of it. Like a literal ai representation of the creator of the trust.. it can even be programmed for leniency, give my kid money at 25 - 30 - 35 sure but if he has terminal illness then i want him to get his money not curse me in my grave.. id gladly answer a thousand questions or ramble to an ai if it will someday make it more me giving away the trust money in the future..

You should start with what BOI stands for.

In 2024, single filers with a taxable income of $47,025 or less, joint filers with a taxable income of $94,050 or less, and heads of households with a taxable income of $63,000 or less pay 0% on qualified realized long-term gains. If your taxable income exceeds those amounts, you may be subject to 15% and 20% tax rates. Short-term capital gains held for a year or less are taxed at regular income tax rates.

Buy simply SAYING Tax reductions for Vulture Capitalist WILL HELP POOR? Bullshit, TRICKLE-DOWN that NEVER GETS DOWN TO the poor, which I AM NOT!

All TARIFFS are paid by Consumer HERE, so please stop LYING about Tariffs because you lose Credibility& BELIEVABILITY.

What crime is opening a business? Its asinine.

What happened to the w2's mentioned in the beginning

You just added 4500 of annual expenses

What if you have a non active LLC - ?

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

Background music is so loud and distracting:/

Now all I need is to WIN the lottery!

its getting to point with all fee and reports to just go off the map

Or you can just pay your taxes and live your life, don't be like the Rich people that we have been talking about all our lives 😮

Can I offer a high deductible plan and a low deductible plan in my company and choose the high deductible plan for myself?

#16: No RMD needs to be taken from HSA in your 70's

Can you do this while also being employed full time at another company under 1040 wages?

Is CTA same as BOI?

I agree with three of them and they were common sense. But how many times do you hear about the lawyer starts putting your money in his pockets. A lot of lawyers are crooked especially when they can enrich themselves. Of course he leaves that out.

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.

They will hopefully all be FIRED by Trump & Co.

I’ve been banking my HSA expenses and there have been 2 years I maxed out my deductible from a knee and shoulder surgery

Okay, what if you're an older person who chooses not to be online.? Not acceptable.

They've had an OPEN BORDER for 3 years and 10 months.... but they're worried about this??? Gee, let me practice my surprised look.... 😳. 🤬

I could seriously use your services.

You can stop right there LOL the s Corp is absolutely nothing compared to the "C" corp. This video reeks of bs and grease. 90% of CPAs have no idea how to manipulate the c Corp and will switch you to an s corp every time. Every year I listened to them about their s corp crap, seriously it's a joke compared to the c Corp.

great suggestions! is there a CRUT equivalent in Canada? ty

So glad my KZbin algorithm find you!!!

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?

Can we sue IRS for over stepping? There is no reason why should agree to share our wealth. We need a tax reform.

Can you please cover hsa on a domestic partner please🙏, I really need clarification if they are able open their own account.

PRIVATE???? Like the data from the 1940 census that was used to round up Japanese people and put them in camps after Pearl Harbor? HMMM

You can thank all PPP loan scammers for this BS!

How is this actually supposed to prevent money laundering? Seems those entities that are exempt are more likely to be the culprits and certainly, the real crooks are not going to give a hoot about this !!!

Luckily my registered agent reminded me and did it for me.

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.

its to stop shell companies like the Bidens use to launder their Donors 😊wink wink money

you can do this for free just google it. no reason to pay these dudes

You wonder what’s the purpose of this bill

All this just to catch the Joe and Hunter….