? Hey there, Neal from Tax Sherpa here! In this video, we dive into the essentials of the Corporate Transparency Act and the Beneficial Ownership Information Reporting Requirement. Stay informed and ensure compliance with our comprehensive guide. Need expert help? Reach out to us at office@taxsherpa.com or book a discovery call today! https://taxsherpa.com/boir ? Timestamps: 0:00 - Introduction to Corporate Transparency Act & Beneficial Ownership Information 0:40 - Understanding the Corporate Transparency Act: Origin & Purpose 1:10 - Beneficial Ownership Information Reporting: Centralizing Ownership Info 3:20 - Key Details: Who Needs to File & Criteria 6:50 - Exemptions: Who Doesn't Need to File? 8:40 - Step-by-Step Guide on How to File 11:20 - Compliance Reminders: Deadlines & Penalties 16:20 - Navigating Filing Updates & Changes 17:30 - Final Thoughts & Contact Information BTW, I was right, updates need to be filed within 30 days. ? Don't forget to like, share, and subscribe for more insightful tax and financial guidance. Visit us at https://taxsherpa.com for more information. FinCEN BOI Site: https://boiefiling.fincen.gov/ Congress Site: https://www.congress.gov/bill/116th-congress/house-bill/2513/text #CorporateTransparencyAct #BeneficialOwnership #TaxCompliance #TaxSherpa ... https://www.youtube.com/watch?v=m4xn_UgVpho

In this video, Neal, Chief Tax Strategist and founder of Tax Sherpa, dives deep into one of his all-time favorite tax strategies: hiring your kids. Discover how this strategy not only unlocks significant tax savings but also provides early financial education and long-term financial planning benefits for your children. Key Topics Covered: Why hiring your kids is a powerful tax-saving strategy The optimal ages for employing your children Setting up the right business structure (partnership vs. sole proprietorship) Avoiding audit risks and minimizing self-employment tax impacts Practical steps for managing payroll and compliance The cascading tax savings effect and how it benefits your overall financial plan Teaching financial literacy and responsibility to your kids Long-term wealth accumulation through IRAs and other investment strategies Real-Life Examples: How one consultant reduced his taxes to zero by employing his teenage daughters Neil's personal experience teaching his nine-year-old daughter about money management Additional Benefits: Financial education for your kids Long-term financial planning and wealth accumulation Setting your kids up for a financially secure future Interested in learning more? Book a tax survey call with one of our tax experts at TaxSherpa.com. Our four-step strategy includes a tax survey, route planning, implementation, and regular compass checks to ensure you stay on track. Don't miss out on this valuable episode! Like, comment, and subscribe for more tax-saving tips and strategies. Follow Us: Website: https://taxsherpa.com Facebook: https://www.facebook.com/thetaxsherpa/ LinkedIn: https://www.linkedin.com/in/neal-mcspadden/ #TaxSavings #FinancialLiteracy #TaxStrategy #HireYourKids #TaxSherpa #FinancialPlanning #WealthAccumulation #TaxTips #FamilyBusiness ... https://www.youtube.com/watch?v=hRCnvAWoCj0