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Ep29 | Tax Law with Douglas Stein - Unpacking the Corporate Transparency Act
Manage episode 396406862 series 3501371
Contenuto fornito da Jack BeVier, Craig Fuhr, Jack BeVier, and Craig Fuhr. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Jack BeVier, Craig Fuhr, Jack BeVier, and Craig Fuhr o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
In this episode, Jack BeVier and Craig Fuhr interview tax attorney Doug Stein about the Corporate Transparency Act (CTA) and its implications for real estate investors. The CTA requires the reporting of beneficial owners of LLCs and other entities, removing the anonymity that previously existed. The reporting requirements apply to both existing and new entities, and failure to comply can result in penalties. The impact on trusts is still unclear, but it is likely that beneficiaries will need to be disclosed. The process of reporting can be complex and time-consuming, and it is recommended to seek professional help for multiple entities.
Chapters
00:00 - Introduction to Doug Stein and Tax Planning
13:00 - Corporate Transparency Act (CTA)
21:00 - Impact on Trusts and Reporting Requirements
24:00 - Mechanism for Reporting and Challenges
28:00 - Wrap-up and Next Episode
68 episodi
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