All Forum Posts by: Clinton Davis

@Clinton Davis The Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA) have been reinstated after a temporary injunction, with initial reports now due by January 13, 2025, for companies formed before January 1, 2024.

New entities formed after January 1, 2024, must file within 90 days of creation. Most U.S.-based LLCs, corporations, and similar entities are required to file unless exempt. Reports must include details of beneficial owners, such as names, birthdates, addresses, and ID documents. Non-compliance can result in penalties up to $500 per day and potential criminal charges. Visit FinCEN’s website for filing details.

This post does not create a CPA-Client relationship. The information contained in this post is not to be relied upon. Readers should seek professional advice.

Where can I get the form to file? is it on the IRS website? thank you.

You can go through the link below to file a BOI. There is also a 5-minute instruction video.

https://fincen.gov/boi

Thank you sir.

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Quote from @Chris Seveney:

Quote from @Jay Hinrichs:

Quote from @Chris Seveney:

Quote from @Clinton Davis:

I think it was BOI acronym but I heard it got postponed then came back and postponed again? I have an LLC do I need to file this form to the IRS? thanks.

you will spend more time trying to figure out whether or not its required than actually completing the form. it takes five minutes.

Yup we banged all of ours out in an hour or so..

If people took the five minutes to complete it they would not need to be asking and searching the internet for their answers.

Where is the form? All I can find are these companies that wanna charge $100-400 to file it. I didn't find anything on IRS.gov Thanks.

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Quote from @Costin I.:

https://www.cpapracticeadvisor.com/2024/12/27/boi-reporting-...

"A 5th U.S. Circuit Court of Appeals late Thursday reinstated a nationwide injunction that had been issued earlier this month by a federal judge in Texas who had ruled that the Corporate Transparency Act was unconstitutional, Reuters reported on Friday, thus suspending the deadline once again for most reporting companies to file beneficial ownership information (BOI) reports with the Financial Crimes Enforcement Network (FinCEN)."

@Ashish Acharya @Clinton Davis

yeah that's the last I heard too but there seems to be alot of confusion and I find it hard to believe that the Govt would enforce the outrageous penalties with all this confusion. But then again I wouldn't be surprised if they did.

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Quote from @Ashish Acharya:

This post does not create a CPA-Client relationship. The information contained in this post is not to be relied upon. Readers should seek professional advice.

Where can I get the form to file? is it on the IRS website? thank you.

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Quote from @Sean O'Keefe:

Quote from @Clinton Davis:

I think it was BOI acronym but I heard it got postponed then came back and postponed again? I have an LLC do I need to file this form to the IRS? thanks.

Ask and answered already here

https://www.biggerpockets.com/forums/51/topics/1223534-boi-r...

Thank you. I heard that it was back on and then suspended again yesterday the 29th, so it's a little confusing.

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Quote from @Chris Seveney:

Quote from @Clinton Davis:

I think it was BOI acronym but I heard it got postponed then came back and postponed again? I have an LLC do I need to file this form to the IRS? thanks.

you will spend more time trying to figure out whether or not its required than actually completing the form. it takes five minutes.

Ok thank you. I heard it cost $100 filing fee so I didn't want to waste money if I didn't have to.

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I think it was BOI acronym but I heard it got postponed then came back and postponed again? I have an LLC do I need to file this form to the IRS? thanks.

1 Vote

Quote from @Douglas Skipworth:

Quote from @Jordan Ray:

Quote from @Clinton Davis:

What do you guys normally do if a tenant moves in without a pet but then they want to get one later. What kind of pet deposit is fair these days and is it fair to ask for more rent per month and how much? I know every area is different but I was thinking $300 pet deposit and $25 more per month. I'm in the Memphis area. Thanks for your suggestions.

I usually charge a $50 deposit per pet and $50/month per pet.

We used to do pet deposits, but now we collect a one-time "pet fee" upfront that is designated for damage repair and cleaning on the back end. The pet owners understand (and it is one less deposit to account for).

Could you share the fee amount? Thanks.

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Quote from @Kevin Smith:

@Clinton Davis did you ever end up giving them a shot? I am considering them for a refi and came across your post. Thanks!

Hi Kevin, I ended up going with American Financial lending and spoke with Joseph and Alex. They were good people and I just closed on a deal in my area on July 23rd. The reason I went with them instead, is Ameircan offers a 80% LTV 30 year long term whereas Century at the time only did 75%LTV. But I think they may have changed that just recently. I attached a pic of their signature below so you can have their contact info. Good luck.
PS- I found that email works better when contacting them.

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All Forum Posts by: Clinton Davis

Clinton Davis has started 22 posts and replied 93 times.

Post: What's the latest on this BOI?? Go or no go?

Post: What's the latest on this BOI?? Go or no go?

Post: What's the latest on this BOI?? Go or no go?

Post: What's the latest on this BOI?? Go or no go?

Post: What's the latest on this BOI?? Go or no go?

Post: What's the latest on this BOI?? Go or no go?

Post: What's the latest on this BOI?? Go or no go?

Post: Pet policies lately. ??

Post: Pet policies lately. ??

Post: Any one use Century Key Capital?