What does the Corporate Transparency Act mean for business owners like yourself? In this video, we'll discuss the new CTA and what that means to own a limited liability company, corporation, or other business entities about the disclosures.
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With the new upcoming changes coming into the market, we have these final rules to help you thrive in this ever-changing marketplace.
To start the discussion, what is the purpose of the Corporate Transparency Act? The purpose of the CTA is to increase transparency and accountability in corporations that operate in the United States. It is designed to help prevent corruption and fraud by giving shareholders more information about the companies they invest in.
“To require you to disclose information about your entity. So what does that mean?” 0:51
Basically, in order to ensure no dubious undertakings are taking place, the government requires all businesses to disclose information regarding their entity. Some may find this to be a simple extra step, but for those with more complicated situations, this may prove quite troublesome.
We are here to deliver the facts and prepare all of you for the changes that are coming to the business world. Does this mean you need to disclose your entity? It depends on which state you are in and what type of business entity you have.
Thank you for your time and patience as we continue to provide you with the best information possible. We are here to help you navigate these turbulent times.
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Until our next video, stay safe and be well.
Show Notes: 0:00 Intro 0:21 Intro to the Corporate Transparency Act 2:25 LLC Example 8:45 Land Trust Reporting Example 10:57 Updating Reports Example 17:05 Outro --------------------------------------------------------------------------------------------------------- SUBSCRIBE https://www.youtube.com/c/RealEstateAssetProtection?sub_confirmation=1
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ABOUT CLINT COONS
Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
--------------------------------------------------------------------------------------------------------- The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
