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my LLC was formed in WY but doing business in CA. (foreign entity in CA.). Which business address should I use? The one in WY or the one in CA? Thank you!!!

I formed my LLC on May 2, 2024 and I just found out tonight about this new rule so I just did the form but my 90 days was up on July 30, 2024 . Do you think I will get penalized and that they will follow thru with this since it was a total unintentional late filing since I did not know anything about this

Referring to the official FinCEN tutorial video on the "Company Applicant(s)" section, they clarify that this part is for the applicant who registered the company with the Secretary of State. It is not intended for the person filling out the BOI. For example, if someone has a registered agent who registered their LLC with the Secretary of State, that agent should complete the "Company Applicant(s)" section not the owner of the LLC. The link below of the video at the 1min55sec: czcams.com/video/GydCvfbKxPw/video.html Correct me if I'm wrong thanks :)

You are so clear in your communication and helpful. thx

Hi Amanda, I recently started an online business based in FL and I’m really confused about the discretionary sales surtax - what I should be charging & what I should be paying back to the state. I charge the tax based on customer’s state % …but must I add on the additional surtax based on the customer’s address/county? E.g. customer lives in FL, so sale price + 6% but if they’re in Osceola county should it instead be sale price + 7.5% because of the DSS? With every state having many counties & different surtax, I’m guessing this wouldn’t be required but I’m not finding clear or concise information on this topic.

Thanks for the video! It was super helpful!!

Where can I sign up for your online course

Question: if you go with a single member LLC wouldn’t all of your profits be subject to FICA?

Great info! So I have a weird situation, just wondering your thoughts on. I have an old LLC I never ended up using, never had an EIN number issued, to the IRS the business is inactive, but to the state I just found out it is still an active business apparently, I'm going to start the process of doing a dissolution, but I think I still need to report to FinCen, however I can't get beyond the first page of the application without an EIN. Do I request an EIN now just to file the BOI? Any tips would be much appreciated, thanks!

Welcome I like you a lot can he be with you or join you I am from Senegal 🇸🇳

This is exactly what I needed to know! Thanks!

She's hot 😍

I’m crushed. I asked a question on another video and you didn’t answer. Is it because I commented on how attractive you are. I did compliment your video. It was concise and informative unlike the lawyers who do these things. 😊

what if a LLC is a beneficial owner? And the LLC is owned by another LLC? How do we report this in the beneficial owner section?

Thank you for this video.

What happens if your LLC is owned 100% by another LLC? Do you have to put the benefital owner information from the Parent LLC?

Wow. You are a breath of fresh air. You actually understand the accounting/tax implications. Lawyers do these things and they are clueless on the intricacies. In my case the i would be foolish to add members (siblings) to the LLC. Complete trust between the three. I agree. I think insurance should be enough to cover liability. Bravo again!!!! Plus you’re quite attractive. 😉 Question: due to MAGI I won’t be able to offset any losses from the rentals. Will I be able to defer those loses when MAGI returns to an acceptable threshold (in 2 years). Currently Maximizing Roth conversions before tax rates go back up. Thanks!!!

Thanks a lot for your video. Super helpful!!!!!!!!

What if an entity like a Trust owns the LLC. How to put the beneficial owner info ?

For pass through income, what do I do if I file 'married filing jointly', and my wife works for a company and I have and LLC? My quarterly income is negative for the business, positive for unemployment benefits (with 10% taxes removed). Both unemployment and my wife's income already have tax estimates removed.

Double Clap for this vid!!

AHHHH Quarterlies!!! NOOOOOO

Hi ! this is kinda off the topic, but I have a question: is it double dipping if you claim your expenses on the income statement and then turn around and take those same expenses on schedule C? please explain!

How to download this spreadsheet.

Please send Excel worksheet link. For practice purpose

What if I need to make a correction because I put it in the wrong name ? I see where it says to make a correction, but then it asks me for the name that I made the original filing but I need to change the name?

Is this a yearly requirement or once and update as ownership changes?

Hi! I wonder about what you said regarding the Company Applicant section. I read or watched somewhere that if I payed someone… yes I was so busy and afraid to make a mistake that I payed our accountant to register the company with the state, then I have to enter their information under the Company Applicant. And our information goes under Beneficial Owner… Now I am confused. 🤔

Is this CTA beneficial owner rule still in effect? Wasn’t it ruled unconstitutional?

What do I do if I'm closing my LLC this year? Is there a "Final" form I also must file? Or is there a way to denote I'm closing the company (or closed the company) in the Initial filing?

Thanks coach! 😊 #steadylearning

What if I created an LLC because I thought I might need it for taxes, but I didn’t, and I’m the only person involved, and the LLC isn’t doing anything now? Do I still need to file?

I really love your slide work and teaching

Hey Amanda...thanks for the video. What about filing foreign entities in other states? Should 2024 entities be filed within 3 months? There are issues within the legality of FinCen, correct?

Great content thank you so much for the video how do we find out more about your courses

I think this filling requirement is being contested in court as being unconstitutional. So for those whose businesses existed before 2024 can probably wait to see if a decision is made before end of year since they have until Jan 1, 2025 to file.

You are great. You always give such great advice. I love that you recommended freetaxUSA years ago. It’s one of the best softwares on the market for filing taxes. I have been using them for 4 yrs now because of your advice. Thanks a ton.

Could one spreadsheet system service multiple retail stores that are in separate companies ? Will balancing the intercompany amounts be an issue? Really tired of QB unnecessary complexity

Hi. I just watched your video after receiving a four page letter from our CPA telling us we need to file this and it comes with a bill from them. UGH! So I'm trying to do this myself and after watching your video it seems doable. However, I cannot find the second video. Where is it please??

Hi. Great video, but still confused :(... In Jan 2024 I switched from middleman (contract agency) W2 employer to going direct 1099 with same end client I knew as employee, but now a brand new client for my ongoing (many years) sole proprietor business. I earned and paid a good amount of tax for 2023 on W2, meanwhile my sole proprietor business had a loss for 2023 as it had no clients for a couple of years. Turbotax 2023 estimated payments (for 2024) tool says I don't need to make any estimated tax payments for 2024, even though I told it that I expect to make a similar good amount in 2024, but as a contractor. Does that sound correct from TTax? Is TTax essentially and correctly saying I owe no estimated tax because my sole proprietor business owed no tax in 2023? Thx.

Thank you but where is the second video you mentioned?

the legal is so messed up where people can just sue like that where you have to do LLC just to protect yourself

Hi I got a letter from Florida department for a final Assessment do that means in in trouble with the IRS

Thx for the info. So if I’m paying my minor (via llc) less than the standard deduction, do they have to file a tax return?

Need help getting 1099 NEC

Fantastic presenter !

Thank you so much! You really make these complex tax situations very clear and actionable!

Now is it too late for me to hire my daughter as its passed Jan? Sorry was a little confused on that oart

Great video. I’ve been wondering how to pay my daughter for my cleaning company. Thanks for the this video!!

Oh My goodness- super helpful information and wonderful ability to make it understandable-- thank you!