This Law Will Cost Your Business THOUSANDS.. Do This NOW

[@elizabethandrews4199]

I did it this week… it takes 30 seconds… it’s only your name, address and EIN number.

[@CaliforniaClassics530]

How could an LLC member confirm the reported status of their BOI filing?

[@gregorydepol2655]

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.

[@SCARFACE69247]

@@gregorydepol2655 You can take a picture of your driver's license and email it to yourself if you're filing on a computer.

[@mapleaf6672]

Until it becomes more and more and more complicated ala big government and then associated filing fees.

[@deepsea5266]

Information they already should have. Simply shows that they simply lack management, shows favoritism to larger businesses, & breeds "mistrust" of leadership.

[@AnnSisuLiv]

It's unconstitutional for everyone.

[@omerboysand.c.8666]

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?

[@jameswebb880]

and the patriot act was just going to protect us from those bad terrorists too

[@loucinci3922]

Best small business channel in on the net. So much information. THANK YOU!!!

[@marilynpetty2509]

Did it last month- complete with patience and it is done!✔️

[@patterson.sisters]

Oh gosh the government with their transparency. Thank you for this update .......

[@AmyMcLean]

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?

[@pamjosephs1711]

Happened to us too.

[@normamuzzall705]

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!!

[@Mbslay]

Who do you see for your business structuring and wealth planning? I.e your trifecta

[@ava_and_ben_halleluyah]

Mat for Speaker of the House! First order of business: get rid of the BOI! 😁

[@mikecaldera2912]

Its going to be way more than that. Elon said 2 Trillion is getting chopped.

[@Reignunlimited]

Don’t worry Trump is gonna take care of ALL this bureaucratic B.S.!!

[@Dn1sdr]

I'm sure that it will be private - for about 10 seconds.

[@justinwilliams6949]

I am a sole prop, no LLC. But I have a business EIN associated with my sole prop. Is the BOI necessary?

[@sonjamccart1269]

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)

[@cbbcbb6803]

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?

[@bozenkaw316]

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?

[@jun_buggy]

Yes, if your business was formed in 2023 and dissolved in 2024, you are required to file the BOI report with FinCEN.

[@sandralima3171]

Even a doing business as? Dissolved in 2024?

[@aperson1181]

"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

[@658Sheps]

What happened to rest of the video?

[@TheAlchemicalProcess]

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???

[@Vision_it]

Thanks Guys you filed mine this year. Keep up the great work.

[@Mbslay]

Greetings, hope you are well. What company do you use for your business structuring / wealth planning? I.e trifecta

[@aperson1181]

What do you think about Judge Burke's ruling in the Alabama lawsuit?

[@jetlaggedchef6806]

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.)

[@laurenharper1510]

That is my question Also

[@kathyhenderson5531]

So a regular online seller, who makes no money anyway, doesnt have to file, if there is no LLC right

[@ilovemusicsomuch]

It’s NOT a good thing. I’m not a criminal so I shouldn’t have to be penalized and/or inconvenienced for those who do break the law. It’s the same bs excuse for gun control. Because some people break the law, those law abiding are harmed and penalized. The fact that you two say this is a ‘good thing’ tells me all I need to know about you and your fidelity to Constitutional rights - or rather lack thereof. It and you are pathetic.

[@kosickf112]

Ya these dudes are herbs for sure

[@Seidylasker]

@ilovemusicsomuch Their firm wants to profit from it. In reality, FINCEN will do absolutely nothing to enforce this. There are 100s of thousands of people with foreign assets and bank accounts that never report to FINCEN and nothing happens. The only way it can be traced is if the foreign bank accounts require SSN.

[@mikecaldera2912]

no these are good guys. Don't Worry Trump is on it. We shall see what survives of the Govt.

[@Dn1sdr]

It is a good thing for beauracrats and these guys. Not for us.

[@Mbslay]

This is great, however I’m still interviewing for a company to assist in my business structuring. I’ve had 5 calls with different MJK representatives and still haven’t found the one! :/

[@clintonezekiel5935]

Is this something that will need to be done annually ?

[@LAKitchen]

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

[@laurenharper1510]

My question also

[@acesh5606]

Is that done every year or just one time?

[@ompnet]

My siblings and I each own 20% shares of a real estate LLc do I need to file ?

[@aperson1181]

Aren't the databases available to the banks?

[@MyFavoriteDaughter]

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?

[@TxFw]

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.

[@MyFavoriteDaughter]

@TxFw Ok, that's what I thought. Thank you so much for your reply ☺️ 👍

[@kosickf112]

Go to jail my a$$ lmao this is unconstitutional

[@Seidylasker]

@@kosickf112 fear tactic to profit

[@Guardianrockwealth]

Okay, it took me longer than 30 seconds, but it's not too bad. Here is the issue when you have more than one owner and you can not get the DL from the other minority owners. I'm not sure what to do about that.

[@AlexaXander-q2m]

Hi Mark, I live in Canada... I would like to file my tax, any advice ,please? Thank you... ...

[@DanBorah-gu6en]

Does this apply to an LLC that was involuntary dissolved?

[@kathyhenderson5531]

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

[@iowawizkid1]

Where is my tax break/credit from the government as an incentive to comply without financial harm?

[@bozenkaw316]

Do we have to file BOI for trusts? I've heard they are exempt, but you didn't mention that in this video...

[@TxFw]

Not if the trust is registered with secretary of state or similar office

[@bozenkaw316]

@@TxFw how do I know that? I just followed directions on how to open one...

[@DionCoomber]

Great Info! If we have a series LLC do we have to file the mother and then each sub LLC individually?

[@locks4]

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.

[@svt5839]

What if my resident is outside of USA?

[@loucinci3922]

Matt Foley, motivational speaker who lives in a van down by the river.

[@jigglywigglyjello1276]

Why didn't registered owners get a letter? I didn't get any notice. Tf!

[@jun_buggy]

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!

[@jbscpa]

Sorry but it is not a one time report

[@CaliforniaClassics530]

​@@jbscpaIs there a yearly requirement to update the BOI?

[@jbscpa]

@ 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.

[@jun_buggy]

@@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.

[@michaelrucker6496]

Money laundering, drug dealing, human trafficking? Sounds like our federal government.

[@jmarmolejomx]

I had LLC since 2022, so I need to do this report?

[@jun_buggy]

Yes.

[@Master4999]

Is this a one time filing or do we need to file these annually?

[@jun_buggy]

Yes, it’s a one time filing. However, if there are changes in beneficial ownership or if previously reported information changes (such as ownership structure, company address, or beneficial owner details), the entity must file an updated BOI report within 30 days of the change.

[@LukaJovic-qr6zu]

hey mark were you able to see the short form clip I created and sent to you guys?

[@emleymusic]

Did the video cut off at the end for anyone?

[@jodi-bethfelton3696]

Great information ❤

[@deepsea5266]

This would only be agreeable "if" ALL businesses 🙄 at ALL LEVELS are required to file.

[@AlexaXander-q2m]

I cant find the right email... so i can ask for more specific advice.. thanks.

[@loucinci3922]

Enjoyed the video. Thanks for sharing

[@donaldjohnson-e8f]

20 LLCs is impressive

[@toddp.226]

Most real estate investors start a new LLC or Corp for each rental property. That way if someone drowns in a pool at one of their properties, the other properties are not in danger in case of a lawsuit where they are deemed liable in some way. Liability compartmentalization you could call it.

[@Firemedic2105]

So all the privacy you talk about in other videos is gone now???

[@abaalaikara113]

What if i have a scorp not a llc ? Do i still file for it?

[@pamjosephs1711]

I would like to know this too. I don't want to rewatch the whole thing again to get the answer!

[@jbscpa]

@@abaalaikara113 S corporations are subject to the beneficial ownership information reporting. But you must look at the list of exemptions and see if by chance your corporation qualifies for an exemption from the BOI reporting.

[@cathya586]

QUESTION an LLC was created for hunting property, not to use as a business, just protection. The LLC is ONLy in the husbands name. BUT the deed is registered as joint. So how do we handle this issue on the BOI??

[@motivation4u]

We need to petition for it to get rid of it.

[@joshuaweston9338]

lol cut the 10k check, another business expense

[@nomadx2142]

BS the GOV doesn't know who those people are.

[@Motivationstation82]

Will this change now trump is president?

[@sweetsuccesstrading5097]

Only FOOLS Comply!

[@alien335]

I like your content. But, cut the "humor." You guys are not funny or clever. Just report the facts and give us all a break. And save us time. No more cringe videos, please Thank you.

[@freewillchoice8052]

I thought this bullocks was kicked to the curb?

[@mapleaf6672]

Hopefully President Trump will repeal it.

[@Artpreciado]

Is it required for an S corporation?

[@toddp.226]

Yes

[@Seidylasker]

Let's see if the government will actually enforce it. I'm betting they won't.

[@AnnSisuLiv]

They'll enforce against law-abiding citizens.

[@Seidylasker]

@AnnSisuLiv I've never seen FINCEN enforce anything against small fish.

[@motivation4u]

​@AnnSisuLiv they'll enforce it if you didn't vote for who they prefer

[@AnnSisuLiv]

@motivation4u Yup

[@jg-wb3vm]

Thanks, Joe Biden and all your she'll companies.