Velvet
by Mbrock. 04/28/24 09:16 PM
|
|
|
|
|
|
|
|
|
|
|
|
1
|
2
|
3
|
4
|
5
|
6
|
|
7
|
8
|
9
|
10
|
11
|
12
|
13
|
|
14
|
15
|
16
|
17
|
18
|
19
|
20
|
|
21
|
22
|
23
|
24
|
25
|
26
|
27
|
|
28
|
29
|
30
|
|
|
|
|
|
|
21 registered members (rickyh_2, crenshawco, Reaper, Jbf, Swamp Monkey, Narrow Gap, AJones, turfarmer, 3Gs, StateLine, Ron A., BPI, Sgiles, !shiloh!, PapaD, hoggin, demp17, 4 invisible),
867
guests, and 0
spiders. |
|
Key:
Admin,
Global Mod,
Mod
|
|
|
Tax People
#4057737
01/10/24 07:02 PM
01/10/24 07:02 PM
|
Joined: Jan 2014
Posts: 10,416
Scottsboro, Al
jbatey1
OP
Lucky Bastage
|
OP
Lucky Bastage
Joined: Jan 2014
Posts: 10,416
Scottsboro, Al
|
Who here can tell me what exactly the BOI form is and why it may or may not be necessary. My Tax people called asking if I wanted them to go on and prepare the BOI form and then started talking like there are big fines and implications, maybe 500 per day up to 10k or something, for not doing so by year end. I trust my tax people, but they like to charge me money more than they like to save me money, so that’s why I’m here, asking a reputable source. 
The fool tells me his reasons; the wise man persuades me with my own.
|
|
|
Re: Tax People
[Re: jbatey1]
#4057746
01/10/24 07:13 PM
01/10/24 07:13 PM
|
Joined: Sep 2001
Posts: 940
AL
jhardy
6 point
|
6 point
Joined: Sep 2001
Posts: 940
AL
|
|
|
|
Re: Tax People
[Re: SouthBamaSlayer]
#4057824
01/10/24 08:19 PM
01/10/24 08:19 PM
|
Joined: Jan 2014
Posts: 4,270
North AL
just_an_illusion
10 point
|
10 point
Joined: Jan 2014
Posts: 4,270
North AL
|
It stands for beneficial ownership information. It’s required for almost all small LLC’s. It’s a form that has not been sent out, but the feds have quietly rolled out. It requires you to disclose who owns the business and gets money from it, along with submitting a photo copy of your driver’s license or passport. The government says it’s to cut down on money laundering and fraud, but it’s just a way to get more info from your business and tax small businesses/owners more. Thanks. I'm looking into setting up a LLC and that is good to know.
|
|
|
Re: Tax People
[Re: just_an_illusion]
#4057879
01/10/24 08:50 PM
01/10/24 08:50 PM
|
Joined: Sep 2001
Posts: 940
AL
jhardy
6 point
|
6 point
Joined: Sep 2001
Posts: 940
AL
|
It stands for beneficial ownership information. It’s required for almost all small LLC’s. It’s a form that has not been sent out, but the feds have quietly rolled out. It requires you to disclose who owns the business and gets money from it, along with submitting a photo copy of your driver’s license or passport. The government says it’s to cut down on money laundering and fraud, but it’s just a way to get more info from your business and tax small businesses/owners more. Thanks. I'm looking into setting up a LLC and that is good to know. New entities have different timing rules.
|
|
|
Re: Tax People
[Re: jhardy]
#4057884
01/10/24 08:51 PM
01/10/24 08:51 PM
|
Joined: Aug 2014
Posts: 13,891
Mobile, AL
SouthBamaSlayer
Gary's Fluffer
|
Gary's Fluffer
Joined: Aug 2014
Posts: 13,891
Mobile, AL
|
It stands for beneficial ownership information. It’s required for almost all small LLC’s. It’s a form that has not been sent out, but the feds have quietly rolled out. It requires you to disclose who owns the business and gets money from it, along with submitting a photo copy of your driver’s license or passport. The government says it’s to cut down on money laundering and fraud, but it’s just a way to get more info from your business and tax small businesses/owners more. Thanks. I'm looking into setting up a LLC and that is good to know. New entities have different timing rules. It’s 30 days from formation isn’t it?
|
|
|
|
