So the feds could have asked 50 states for this info or 50 million LLC owners and they went with option B? Fantastic.
@notyourdadscpa10 ай бұрын
😂🤦🏼♂️
@ikechicoreralation10 ай бұрын
Lol
@BiggVic9 ай бұрын
😂 hilarious … facts
@user-bn7cg5kz9p10 ай бұрын
Thanks for the heads up as I’m sure most small LLCs wouldn’t have heard about it otherwise. Appreciate your channel and information you give us!
@angrydriversattack10 ай бұрын
yup
@j.altario26199 ай бұрын
The exempt list is funny..thats where all the big money crimes take place. accounting firms , insurance companies, etc smh
@ItsDan1238 ай бұрын
They already have way more disclosure rules which is probably why
@manuelcunha70489 ай бұрын
Ty so much. It’s people like you that are the heart of this country to help people for free.
@donniecastleman57018 ай бұрын
Which congressional genius came up with this? I'm a tax pro and having to file a few hundred of these for my clients, feeling a little nutty explaining this to my clients and thankful that you do it perfectly in this video.
@roekinn10 ай бұрын
Better to simply become SPC (Secured Party Creditor), move to operating in the private instead of public and be DONE with this.
@ckp20949 ай бұрын
Any recommendations where to get started with this?
@matthewredder94279 ай бұрын
Always great info from Mark! Thanks for breaking it down for us.
@socommaster6 ай бұрын
Very helpful with the deadline days!
@joannaward7708Ай бұрын
Hi. Thanks for all your information! I went to the website but can’t find the form to fill out. Could I get a link to the actual form? Thanks
@DbirddeeSBooks9 ай бұрын
Do sole proprietors need to file the BOI? I didn’t see it listed on the exemption list..
@DessaTuck5 ай бұрын
My question is concerning llc companies that haven’t been used in ten years or more. Does this apply to these as well? Do each of these llc companies have to be filed, even if they are not in use?
@ceequizo7 ай бұрын
This is kinda hideous, the individual states should have sent a notice to all their registered llcs, or even through their registered agents. It's not cool that we have to dig for, or run into this info randomly. All that said, I appreciate you letting us know. Thanks.
@DawnCadwell-i4p10 ай бұрын
What about a sole proprietorship required to file with my state (Oregon) for my DBA? I received notice of this thru the Corporation Division of Oregon. TIA.
@notyourdadscpa10 ай бұрын
I'd be curious what that is, it sounds like it's specific to oregon, I wonder if it has to do with a business license or just your DBA in general.
@sharaudramey93369 ай бұрын
People really dont care much about their privacy. This is crap and the exemptions are revealing.
@countryboy-bk7ke8 ай бұрын
i dissolved my llc in 2021 so i shouldnt have to file right?
@DbirddeeSBooks9 ай бұрын
When are you doing the sale for your tax academy?
@nursultanrustamov10724 ай бұрын
I opened inc on 02/20/24. I forget to fill out the application, I'm late 16 days, will I pay the fine? Thank you
@notyourdadscpa4 ай бұрын
My guess is they don't have their enforcement policies in place yet. It's still kind of in limbo.
@mt.50089 ай бұрын
If we filed late, how would we know if we were assess a fee? Would they just send a letter? Should we contact them to follow up?
@notyourdadscpa9 ай бұрын
It's brand new but most likely they would send a letter. It's possible they're lenient during the first few years because there will be so many cases of non-compliance, but we'll see.
@samasman34809 ай бұрын
This question has to do with one of your older videos. Am I able to switch from accrual accounting method to the cash method after using the accrual method for a few years.
@notyourdadscpa9 ай бұрын
Yes 👍🏼
@motherearth14410 ай бұрын
My LLC may fall under inactive entity. I have not conducted any business since opening it. Should I still file the form?
@notyourdadscpa9 ай бұрын
I probably would just to be safe, it will only take a few minutes.
@familytube946810 ай бұрын
Thabk you for posting this! We're closing down our LLC before the end of December... Any reason why we should submit this or are we safe as long as we close down before the Jan 1 deadline? Ty!
@notyourdadscpa10 ай бұрын
No, if it's closed this year then nothing you need to do!
@diesel250410 ай бұрын
How simple is it to close?
@PhillyTechCheck10 ай бұрын
I tried closing two LLC’s and still havent figured it out. It deff a hard process. Please update us on how u close yours, thanks!
@ckp20949 ай бұрын
Can you advise how you closed it?
@GeorgiaSmies6 ай бұрын
What is the name of the form and where can I download it?
@iztheterrible3 ай бұрын
so why didnt he name the exact form? he went thru all the trouble of making a video and no identification of the form.
@notyourdadscpa3 ай бұрын
boiefiling.fincen.gov/boir/html
@Alog20199 ай бұрын
How about Non-USA residence's LLC?
@notyourdadscpa9 ай бұрын
If it's an LLC formed in the US I'm pretty sure you have the same filing requirement
@btackett210 ай бұрын
Thanks for the heads up. I have a question, when I first started a couple years ago I paid to start as an LLC but I have never filed taxes as an LLC or done anything with it. Do I need to dissolve the LLC or does it not matter? I just act as a sole prop and have since the start.
@notyourdadscpa10 ай бұрын
If it qualifies as inactive, it may be exempt, but it has to fit their definition of inactive which has a few requirements to it, so you may want to be safe and dissolve it if you're not going to utilize it.
@btackett210 ай бұрын
@@notyourdadscpa thank you
@chrissheffield54689 ай бұрын
Just checked the website; no form exists yet to register.
@notyourdadscpa9 ай бұрын
Please check the sign up page again, it should work now.
@mybeautifullife93339 ай бұрын
By what date does this have to be done?
@notyourdadscpa9 ай бұрын
It depends on when the LLC was formed. If it was in existence before 2024 then you have all year to do it.
@scooteracers9 ай бұрын
Do S. Corps need to file this as well?
@notyourdadscpa9 ай бұрын
Yes 👍🏻
@natassjabynoe88999 ай бұрын
Does this apply to Not for Profits?
@natassjabynoe88999 ай бұрын
You answered my question. Thank you
@furfaces10 ай бұрын
If LLC is sole proprietorship, do they need to register?
@notyourdadscpa9 ай бұрын
Yes, single member LLCs will also need to file the report.
@primeprofits24710 ай бұрын
Do I have to file it if I'm in admin dissolved I HAVE NOT PAID MY ANNUAL REGISTRATION?
@notyourdadscpa10 ай бұрын
Inactive entities are exempt if they were in existence before 1/1/20. I would probably dissolve it to be safe.
@primeprofits24710 ай бұрын
thank you @@notyourdadscpa
@bubbie23jw10 ай бұрын
Hey you don’t sell anymore?
@notyourdadscpa10 ай бұрын
I'm currently focusing on my CPA business but my selling career is not over yet!
@shebrew48969 ай бұрын
I went to the website but didn’t actually see where to submit the information, if anyone found it please help . Thanks in advance
@notyourdadscpa9 ай бұрын
It's live now, I'll be posting a video soon of me going through the form for my own LLC 👍🏻
@ciausa7 ай бұрын
I have question if I apply new to LLC? How about tax forms do i need to receive them through IRS or i have to do it on my own? Also if my business didn’t do well do i still file taxes or no?
@mllarson8 ай бұрын
So tax-exempt entities are not required? I wonder how may "Our Lady of Tax Fraud" churches will suddenly pop up? 🤣🤣🤣
@kaylablakley17279 ай бұрын
I dont see thr link
@notyourdadscpa9 ай бұрын
The link is in the description, it should work now!
@asadmatsumoto891110 ай бұрын
we can just vote to dissolve this but nobodies voting.
@thatlamechannel43757 ай бұрын
How do we vote?
@jtown204010 ай бұрын
#200 like. Thanks!
@notyourdadscpa10 ай бұрын
🔥
@jtown204010 ай бұрын
@@notyourdadscpa U bring it FTW. I subscribed and tossed the NOTHING BURGER haha totally lol ✌️