What is an EIN and how to get one?
14:24
Owners Distributions for Taxes
11:57
Best Practices for Owners Equity
12:06
Пікірлер
@wrtun
@wrtun 3 сағат бұрын
I have a question, I opened my business long before 2024 and I am not sure if I filled for BOI, is there anyway to check if I filled it or not? Thank you very much for your help
@RobinLavur
@RobinLavur 7 сағат бұрын
Thank you, very helpful
@brittanybraxton5080
@brittanybraxton5080 10 сағат бұрын
Thank you so much! This is my first year in my business, and I had no idea what to do!!! I appreciate you so much!!!
@clementinod7946
@clementinod7946 12 сағат бұрын
Who is the beneficial owner in case the LLC is under your Holding LLC and you're the only member? And how to report both?
@elva397
@elva397 19 сағат бұрын
How much did just works pay you to make this video 😂😂
@ClaraCFO
@ClaraCFO 14 сағат бұрын
They didn’t. Sponsorships must be disclosed.
@elva397
@elva397 14 сағат бұрын
@ likely story
@edwardgarcia3800
@edwardgarcia3800 20 сағат бұрын
Thank you so much for making this video. It was extremely helpful and saved me some money.
@cassiebrunson1590
@cassiebrunson1590 Күн бұрын
Great video, thank you so much! I have a business started before Jan 1 2024, Am I supposed to file out the Beneficial Owner Information too? Step 34?
@SONIABantjes
@SONIABantjes Күн бұрын
Clara I need to get Quickbooks for 5 of our company
@SONIABantjes
@SONIABantjes Күн бұрын
Plus
@AaronWilletteDesign
@AaronWilletteDesign Күн бұрын
If I am operating as a DBA - In the 'Reporting Company' tab, do I enter my full name in step 5 and then my trade name in step 6? Thank you for your content!
@xcaliber_gaming
@xcaliber_gaming Күн бұрын
where is the correct website to file, if we do want to file ? (put in description). ty
@blancaalvarez7637
@blancaalvarez7637 Күн бұрын
great easy to follow video! thank you.
@mah1098s
@mah1098s 2 күн бұрын
“FINCEN is what matters”. No. The courts matter. FINCEN submits authority to the court.
@TabletAccount-fo8zm
@TabletAccount-fo8zm 2 күн бұрын
They should go after the bitcoin and cash app people and leave llc's alone- they already have banking info, and our taxes. Drug dealers and other criminals are using not traceable ways to move money. I can see looking into cash businesses.
@SundaeFallen
@SundaeFallen 2 күн бұрын
I am confused if I even have to file as I am not a corporation does this pertain to me?
@tanyaboch7960
@tanyaboch7960 2 күн бұрын
Thank you Clara !
@andraconstantin9459
@andraconstantin9459 2 күн бұрын
tough to fight when they are targetting small businesses
@brendasimon5356
@brendasimon5356 2 күн бұрын
An attorney told me today to file it
@jujubees711
@jujubees711 2 күн бұрын
Everyone takes it so personally. Saying to shut it down. If you're all on the up and up, then you got nothing to worry about. It's not you they're after. When crimes are committed the public yells that law enforcement didn't do more. Then when they try to do more to prevent crimes, the public yells, "they're taking my privacy away." Basically, the public wants law enforcement to find criminals magically. At no cost to them. The public is the worst boss and partner.
@maddog1040
@maddog1040 2 күн бұрын
Fractional CFO’s should have actual experience as a CFO.
@dbiedler
@dbiedler 2 күн бұрын
Thank you.
@scottlandb6579
@scottlandb6579 2 күн бұрын
I hate to say it, either im falling asleep cause the boi bores me, or you could do cpa asmr really well. ha ha ha
@Ztheprofm
@Ztheprofm 2 күн бұрын
Thank you so much, this was so helpful! 🙏
@VitoMule
@VitoMule 2 күн бұрын
Great example for this specific situation. Could you also do a post: showing how a very profitable and cash positive business, can give the Owner a Y/E Bonus to both enhance their annual income tax withholdings (in lieu of OR to enhance Qtrly Estimated Taxes payments), as well as max out their Owner's Simple IRA total year deferral. Maybe something that one's CPA should help with, depending on one's own personal tax situation.
@ClaraCFO
@ClaraCFO 2 күн бұрын
Yes, definitely consult your tax professional because they should know your specifics!
@RobertWoroniak
@RobertWoroniak 2 күн бұрын
Thanks for this explanation. If someone is paying quarterly taxes, is it ok to block paying the federal taxes? Does that block both the 'employee' contribution and the company contribution?
@ClaraCFO
@ClaraCFO Күн бұрын
You can only block the federal and state income tax withholdings. You can’t block Medicare and SS and state required employment taxes. That’s the whole point of making sure you run a payroll is to make sure these taxes are paid.
@ClaraCFO
@ClaraCFO Күн бұрын
And yes, if you’ve been making enough estimated taxes, you can block or adjust how much federal and state income taxes you want to withhold.
@DickBerry
@DickBerry 2 күн бұрын
Is there a fee to file the BOIR?
@ClaraCFO
@ClaraCFO 2 күн бұрын
no - not if you do it yourself on their website
@arwenverdeflor-yu5uj
@arwenverdeflor-yu5uj 3 күн бұрын
@travelwithjustin
@travelwithjustin 3 күн бұрын
Can’t wait until the DOGE shuts all this down for good.
@the1da1nc
@the1da1nc 3 күн бұрын
Very informative (and timely) video. Thank you! One question. If the owner funds the tax payment, and puts the withholding back in, what account type would that be, and what would you call that account in Quickbooks?
@ClaraCFO
@ClaraCFO 3 күн бұрын
The cash you put back into the business would be a debit to the bank account you deposit it into and then a credit to the owners draw account. So it would decrease your owners draw out of the business.
@bigdaddysstorytime
@bigdaddysstorytime 3 күн бұрын
Thank you for the great help and guidance in this process! Happy Holidays!😃
@alisonlewis5626
@alisonlewis5626 3 күн бұрын
So I don't understand #16 because I did my EIN in 2019. Didn't click it and filled it all out already. So do I need to go back and correct it? Or Leave it. I didn't apply ... someone else did so I got that wrong. Ugh.
@TheJazzyRedTalkShow
@TheJazzyRedTalkShow 3 күн бұрын
Thanks I Just filed For 3 Business this morning! I seen it on a news channel on my feed! It’s better to be safe than late!
@badass1g
@badass1g 3 күн бұрын
How does that song go? “GOD BLESS TEXAS!”
@noumantariq2906
@noumantariq2906 3 күн бұрын
So i am a new into accounting and doing some jobs on upwork. If i get a customer that wants to have a qbo setup for his business do i put him/her for whats your role or me on as external bookkeeper?
@davidjasse8386
@davidjasse8386 3 күн бұрын
Beautiful shot, just put the wire under the blouse
@JR-gj3fx
@JR-gj3fx 4 күн бұрын
BOI is just Big Brother crap.
@KingdomCre8tiv
@KingdomCre8tiv 4 күн бұрын
I feel bad for people who have already paid hundreds and even thousands of dollars for someone to file it for them!!!
@jaymeez
@jaymeez 4 күн бұрын
Paying 40% in taxes and saying it’s a good thing is horrible! If it can be reduced strategically then it should be done!
@ezswan
@ezswan 4 күн бұрын
It clearly states on their official website that you do not have to file while all of these court cases are going on. Also, the filing papers aren't that complicated at all. just read the directions. If any companies are laundering money, it would be big corporations WHO ARE EXEMPT from this. I am tired of the USA governments control.
@franklotito468
@franklotito468 4 күн бұрын
Too bad for all those suckers who complied at the onset. Now go put your covid mask on you sheep.
@dwildclay
@dwildclay 4 күн бұрын
This video is amazing. Thank you❤
@aixelsyddan257
@aixelsyddan257 4 күн бұрын
This looks like another government wants to know everything about you much like the personal garden report the government wants to impose.
@pm5187
@pm5187 4 күн бұрын
Just more bullshit paperwork to fill out that does not apply to my tiny company. I'm not against some paperwork but it is out of hand. I just filled out 4 different forms for my kid to go to a high school conference. Most of the forms asked the same questions.
@LivingTheDream369
@LivingTheDream369 4 күн бұрын
Unconstitutional
@lastspring
@lastspring 5 күн бұрын
Given the government's poor security record, it would only be a matter of time before it was breached with foreign agents swarming profitable businesses with fraud and exploits.
@maryjanesmith8867
@maryjanesmith8867 5 күн бұрын
This was excellent, I just started thinking we may need to split company. We shall see… please continue sharing your journey, this was valuable.
@neftalyruiz2476
@neftalyruiz2476 5 күн бұрын
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@neftalyruiz2476
@neftalyruiz2476 5 күн бұрын
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@neftalyruiz2476
@neftalyruiz2476 5 күн бұрын
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@neftalyruiz2476
@neftalyruiz2476 5 күн бұрын
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@neftalyruiz2476
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@neftalyruiz2476
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@neftalyruiz2476
@neftalyruiz2476 5 күн бұрын
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@neftalyruiz2476
@neftalyruiz2476 5 күн бұрын
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@neftalyruiz2476
@neftalyruiz2476 5 күн бұрын
SUNDAY MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAY