November 23, 2024 • 19 mins
Ready to sidestep hefty fines and potential jail time? Tune in as Anton Leftwich and Michel Dupoux equip you with vital insights on the Beneficial Ownership Information (BOI) filing requirements mandated by the Corporate Transparency Act of 2021. We unpack the critical need for compliance if you own an LLC, S-corporation, or other registered entities, particularly those set up prior to January 1, 2024. With the deadline looming on January 1, 2025, ignoring these new rules could cost you dearly. Plus, learn about the 23 company types exempt from this filing, like large operations boasting more than 20 employees and $5 million in reported revenue. This episode aims to demystify the process and highlight its importance in promoting transparency.
Don't let the fear of penalties hold you back. We make the BOI filing process clear and straightforward, ensuring your information remains confidential and only accessible to six authorized entities—not the public. Filing through the FinCEN website is free and takes just minutes, providing you peace of mind and a path to business growth. Our motivational call-to-action encourages you to act now and stay connected with us on platforms like Apple Podcasts, iHeartRadio, Spotify, and at our home, on HHN TV. As Thanksgiving approaches, we express our gratitude for your support and remind you to stay proactive and positive in your business endeavors. Join us in securing your financial success and compliance, all while avoiding unnecessary stress.
Learn more about the FBN initiative and get access to all social media platforms at https://linktr.ee/fbnlinks
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
First and foremost, we want to be clear that what we
are sharing with you arestrategies and concepts that can
be implemented by individualswho understand the logistics of
how to approach such platformsas far as the literal, the
(00:27):
mental and spiritual formatneeded to be successful with
your aspirations what's up world?
Speaker 2 (00:58):
you're tuning in to fbn and this is another episode
of Finance Bros Network.
I am the one half of finance,Anton Lefwich and this is
Michael DePoe.
Speaker 1 (01:08):
the other half and we are coming to you live with
finance for everyday people.
We are honored to be here andto be able to serve diverse
communities as usual.
Yes, sir.
Speaker 2 (01:23):
I keep wanting to come in.
I'd be like the other half inthe spirit of hip-hop of course
right, right uh, mike you know,I'm, you know, of course I'm
gonna let you take the lead onthis one brother, because you
really came with some valuableinformation this week for our
wealthy.
As we said, we had a special psipublic service announcement to
bring to y'all.
Uh, before mike gets into that,I just wanted to say you know
(01:43):
happy things.
Well, we wanted to say happyThanksgiving to the world, and
all our wealthy is out there.
This week coming up is going tobe Thanksgiving.
I know a lot of people aregoing to be taking a week off
with their families and we'regoing to do the same, so there
will not be an episode nextSaturday.
But following that, we're goingto get into the Christmas
holidays and we're going to comewith some episodes in December
(02:04):
and then we're going to probablywrap it up with about 12
episodes for the season beforewe start coming with our vodcast
the TV show for HHN inmid-February, early March, right
, right, right.
So, mike, you want to kind ofgive them a little intro what we
got going on here.
Speaker 1 (02:20):
So, definitely, this is breaking news everybody and
this is why we're doing thispublic announcement and this is
for all our wealthians andeverybody else who hears us.
This is really important.
We felt that we needed to bringthis information to you guys.
So, people who have, orwealthians who have LLCs or
(02:43):
S-corpor corporation, you mustfile for a BOI.
You say, what is a BOI?
A BOI is beneficial ownershipinformation.
That's with FinCEN, and FinCENis the financial crime
enforcement network of theUnited States Treasury Division.
(03:07):
So this is from the TreasuryDepartment and they have put
this in place.
This was a law that came aboutfrom the Corporate Transparency
Act in 2021.
So this law was put in in 2021and passed okay by your
(03:32):
congressmen and your senators,and everybody above passed this
law.
So here's how it's broken down,okay.
So just FY, llc means LimitedLiability Corporation and
S-Corporation is SubchapterCorporation.
A lot of people don't know whatthe S is and now you do it's
(03:54):
Subchapter Corporation.
That's what the S-Corporationmeans.
So, going back to the CorporateTransparency Act in 2021 that
was passed and it says if youhave an LLC or an S corporation
or any other registered entityso let's say, you come from a
(04:15):
foreign country and you dobusiness in the States and you
have an entity registered in theState, this is applicable to
you also.
So here we go.
If you created an entity beforeJanuary 1st 2024, you must file
(04:38):
for a BOI by January 1st 2025.
With its registration.
Some of us only got a coupleweeks hey hey, you know, wow,
and just FYI, if you filed anentity from January 1st to well,
(05:01):
january 1st, 2024, you have 30days.
So hopefully, because we arewell into 2024, hopefully, when
you filled out this entity,somebody said, hey, you need to
file with FinCEN for the BOIBecause with after 30 days,
we're going to go over all thepenalties that could accrue.
(05:23):
We're going to go over all thepenalties that could accrue.
But, anton, can you just givethem the breakdown of the
entities that are exempt fromthis filing?
Absolutely.
Speaker 2 (05:33):
So there's 23 types of companies that are exempt
from filing the BOI.
Okay, it's funny how they'reprotecting the money Watch.
When I read this list, you'regoing to be like oh okay, I see
where they're protecting themoney Watch.
When I read this list, you'regoing to be like, oh okay, I see
where they're going.
So the 23 types of companiesthat are exempt are as follows
Security reporting insurers.
Governmental authorities.
Three banks.
(05:54):
Four credit unions.
Five depository institutionholding companies.
Six money services businesses.
Seven brokers or dealers insecurities.
Eight securities exchanges orclearing agencies.
Nine other exchange actregistered entities.
(06:16):
Ten investment companies orinvestment advisors.
Eleven venture capital fundadvisors.
Twelve Seven Venture CapitalFund Advisors.
Twelve Insurance Companies.
Thirteen State LicensedInsurance Producers.
Fourteen Commodity Exchange ActRegistered Entities.
Fifteen Accounting Firms.
Sixteen Public Entities.
(06:37):
Seventeen Financial MarketUtilities.
Eighteen Pooled InvestmentVehicles.
Is that 18 or 19?
That was 18.
Yeah, 18.
Nineteen, is that 18?
Speaker 1 (06:45):
or 19?
That was 18.
Speaker 2 (06:46):
Yeah, 18.
19 tax-exempt entities, 20entities assisting a tax-exempt
entity, 21 large operatingcompanies, 22 subsidiaries of
certain exempt entities and 23inactive entities.
Speaker 1 (07:06):
All right yeah.
Speaker 2 (07:07):
And please note that if your company is one of these,
then you do not have to file.
Speaker 1 (07:16):
And just FYI, the large operating companies.
What does that break down topretty much.
What criteria is thatconsidered?
Speaker 2 (07:23):
Large operating companies.
I believe it's more than 20employees.
Speaker 1 (07:27):
More than 20 employees and more than 5
million, 5 million, yeah, andreported, reported, reported
meaning on their tax returnRight right so if you don't have
more than 20 employees and $5million reported on your tax
return, you are not considered alarge operating company.
Speaker 2 (07:48):
I'm sure that's because they know they can find
you already Already exactly withthat kind of money.
Speaker 1 (07:53):
And so here it is.
Ladies and gentlemen, Just incase you think, well, all right,
what is the big deal withfiling this?
Well, here's what thegovernment, the federal
government, has put together aspenalties if you choose not file
, if you have an entity and youfiled for the entity before
January 2024.
(08:15):
Okay, so you have until the 1stof next year.
If you don't file this BOI,this Benefit Ownership
(08:36):
Information, this benefitownership information,
beneficial ownership informationform, you will be fined $591
per day $591 what?
$591 per day?
Per day?
Up to $10,000.
(08:58):
And if you still didn't fileyour benefit, beneficial
ownership information, as I'msaying the whole thing, so it
can really get into your head.
And if you don't do it, evenafter that, you will go to jail
for up to two years.
They putting people in jail.
They're going to put you injail, man.
(09:18):
So you know, if you wonderingif, if you should file on that,
this should be the reason whyyou should file this and listen,
DM us, ask us any questions youwant us about this, because we
want to make sure our wealthyand the people that are hearing
this do not get caught up withthis.
(09:39):
This because it sucks to haveto pay $591 a day.
It sucks to pay up to $10,000.
And it really sucks to be injail for up to two years if you
just don't file this.
It takes five to ten minutes,but go ahead.
Yeah, I don't think nobodywants to do that, and there are
six entities.
So now you may wonder well,okay, I did this for an
(10:00):
anonymity, where people can findme, like in Delaware, las Vegas
, wyoming Now people are goingto be able to find me, but
there's only six people that areallowed to pull from this.
So what are?
Speaker 2 (10:12):
those six entities.
So it's not necessarily likeyour information is just out
there all over the place.
All right, if you're worriedabout your information being out
there.
There are actually only sixentities, like Mike said, who
can request your BOI reportafter you file with FinCEN.
Okay, number one is going to befederal agencies engaged in
national security, intelligenceand law enforcement.
(10:33):
All right, pretty serious stuff.
State law enforcement.
Number two, with a court orderby the way.
Number three is the US TreasuryDepartment.
Number four is financialinstitutions who have your
consent.
Number five is governmentregulators of financial
(10:53):
institutions.
And number six is foreignauthorities requesting
information through a US agency.
Foreign authorities requestinginformation through a US agency.
All right, so these are somepretty serious organizations if
it's coming down to somethinglike that.
But you know you're filing this.
Oh, by the way, mike, I thinkwe should tell them too that one
of the places they have someparameters in place so people
(11:15):
can make sure they go and getthis done.
They're not making it hard todo.
Right, with the research we did, this can all be done If your
company is structured, complex,has some type of complex
structure.
Maybe it'll take a little bitlonger, but typically this type
of exercise should be able to bedone within five to ten minutes
.
You can go to FinCENgov andfile for free.
(11:37):
It's not like it's costing usany money to do this.
It's one of the places.
There's other places you can goand do it too, but directly on
the finson website.
Speaker 1 (11:48):
That's a right, obviously.
That's a reputable place we canall go to do that.
And just a quick review we wantto make sure that you remember
the 23, uh, um, type of entities.
I would urge we're not going tore-mention it again but go look
it up, uh, to see if yourcompany is an exception from
filing this.
And again, there's six entitiesthat can pull it up and one of
(12:09):
them remember it says thefinancial institution who you
have given consent.
So that could be like a bank orany type of hedge fund or
financial entity that you sayokay, and I'm pretty sure
they'll have forms and you'llknow what you're filling out to
say, okay, this is the personwho's a membership, who's a
member of this LLC or Scorporation.
(12:32):
Right.
So we just want to make surethat everybody's aware of this
and we felt it was important tobring this, but we also want to
give them the breakdown on itlike we always do in every show,
right we?
know you guys are going to gohave a great holiday, but we
want to keep this in mind.
So here's the literal.
The literal is take five to 10minutes, do it now, or go to
(12:58):
jail or pay.
That's the literal.
That's what's gonna happen.
Yeah, like we felt strongenough to come out here and and
do this podcast because we don'twant people getting hurt,
because pretty much what willhappen?
Speaker 2 (13:15):
people will get hurt that's the first thing I said to
you.
Like when you told me aboutthis.
I said, bro, a of people goingto get hurt by this because they
don't know Exactly and nobody'sout here educating them and
trying to get this informationto them so they can not only
just hear about it butunderstand and believe it,
because they're not playingaround about this, they're not.
Speaker 1 (13:34):
They're not.
And the mental part if youdon't do the BOI, mentally
you're going to worry about yourbank account being tapped.
Imagine $591 a day.
If you didn't file up to 10K,you could lose 10K.
Even worse, you can go to jail.
(13:56):
God forbid.
You go to jail yeah, you knowso mentally or they'll put out a
warrant for your arrest to goto jail.
Do you want that in your head?
That's the last thing you wantto deal with.
That's the last thing you wantto think about.
So, mentally, you don't wantthis to be falling on you.
(14:16):
So make sure you go file.
Speaker 2 (14:20):
Yeah, yeah and, of course, spiritual Mike.
Obviously it's just very simpleas well.
But getting your BOI done, beworry-free.
Don't have to not be worry-free, not having to think about it,
and grow your business with apeace of mind.
Speaker 1 (14:36):
There you go.
Speaker 2 (14:37):
Period Point blank.
Speaker 1 (14:38):
That's it.
That's what it is.
Speaker 2 (14:40):
And you know, mike, we always want to, we always
want to encourage, be on apositive note.
You know we study that here atFinance Bros.
So again, we're reiteratingthis information is everywhere.
Yes, the filing part is easy todo.
A lot of us only have about 45days to go and take action, but
it's so, so simple.
(15:01):
There's parameters in place,there's websites that have been
developed just to get on thereand file the information and
just be done with it, be able toput it down and keep looking
forward.
So let's not think of it as abig deal.
Let's just all be informed,let's go do what we got to do
and let's keep it pushing.
Speaker 1 (15:20):
Yeah and listen.
If you really can't have, ifyou don't have five, ten minutes
, find somebody, Because whenyou're in jail you have all the
time in the world, you ain't gotfive minutes left.
You ain't got five minutes left.
You will have it later.
So and that brings keeping thespiritual aspect of course we
had to have a t-shirt for this.
Speaker 2 (15:40):
Of course I love this t-shirt.
Speaker 1 (15:42):
We went through a spiritual uh uh route on this
one.
Speaker 2 (15:46):
We stayed in the spirit we stayed in the
spiritual.
Speaker 1 (15:48):
we went to the bible, ladies, and yes, yes, finance
went to the bible.
Yes, finance has to do with thebible.
Yep, it was a luke, chapter 12,verses 2 and 3, and I'll, we'll
just paraphrase this for thet-shirt Basically, it says
what's done in the dark willcome to light.
That's short and sweet, shortand sweet, very succinct.
(16:10):
So if we got to make theset-shirts before January 25th,
before January 2025, I mean soJanuary 1st 2025, if we have to
make those t-shirts foreverybody to wear them, so you
don't go to jail.
We will do that.
I'll rock the.
Luke 12 shirt Mike so Luke 12,verses 2 and 3, paraphrasing
(16:36):
what's done in the dark willcome to light, amen brother.
Speaker 2 (16:41):
Hey, we not gonna hold you guys.
We already said we gonna keepit short, we gonna keep it sweet
, not gonna hold you guys.
We already said we gonna keepit short, we gonna keep it sweet
.
Wanted to bring you guys thisvaluable information, this
public service announcement.
Drive it home fast, drive ithome hard, put in your guys'
hearts.
Let you go out and take actionwith it.
Obviously, you know how to findus, check us out On all our
social media Podcast platformsDM us, apple Podcasts,
(17:02):
iheartradio, spotify.
Obviously, you know to check usout at our home on HHN TV.
But come look us up, come findus if you got more questions and
you already know.
As usual, I appreciate, youDon't go to jail.
Hey, you already know We'll seeyou at the bank.
Peace y'all, take care world.
Speaker 1 (17:33):
Thank you, thank you, thank you for watching.
First and foremost, we want to be clear that what we
are sharing with you arestrategies and concepts that can
be implemented by individualswho understand the logistics of
how to approach such platformsas far as the literal, the
(00:27):
mental and spiritual formatneeded to be successful with
your aspirations what's up world?
Speaker 2 (00:58):
you're tuning in to fbn and this is another episode
of Finance Bros Network.
I am the one half of finance,Anton Lefwich and this is
Michael DePoe.
Speaker 1 (01:08):
the other half and we are coming to you live with
finance for everyday people.
We are honored to be here andto be able to serve diverse
communities as usual.
Yes, sir.
Speaker 2 (01:23):
I keep wanting to come in.
I'd be like the other half inthe spirit of hip-hop of course
right, right uh, mike you know,I'm, you know, of course I'm
gonna let you take the lead onthis one brother, because you
really came with some valuableinformation this week for our
wealthy.
As we said, we had a special psipublic service announcement to
bring to y'all.
Uh, before mike gets into that,I just wanted to say you know
(01:43):
happy things.
Well, we wanted to say happyThanksgiving to the world, and
all our wealthy is out there.
This week coming up is going tobe Thanksgiving.
I know a lot of people aregoing to be taking a week off
with their families and we'regoing to do the same, so there
will not be an episode nextSaturday.
But following that, we're goingto get into the Christmas
holidays and we're going to comewith some episodes in December
(02:04):
and then we're going to probablywrap it up with about 12
episodes for the season beforewe start coming with our vodcast
the TV show for HHN inmid-February, early March, right
, right, right.
So, mike, you want to kind ofgive them a little intro what we
got going on here.
Speaker 1 (02:20):
So, definitely, this is breaking news everybody and
this is why we're doing thispublic announcement and this is
for all our wealthians andeverybody else who hears us.
This is really important.
We felt that we needed to bringthis information to you guys.
So, people who have, orwealthians who have LLCs or
(02:43):
S-corpor corporation, you mustfile for a BOI.
You say, what is a BOI?
A BOI is beneficial ownershipinformation.
That's with FinCEN, and FinCENis the financial crime
enforcement network of theUnited States Treasury Division.
(03:07):
So this is from the TreasuryDepartment and they have put
this in place.
This was a law that came aboutfrom the Corporate Transparency
Act in 2021.
So this law was put in in 2021and passed okay by your
(03:32):
congressmen and your senators,and everybody above passed this
law.
So here's how it's broken down,okay.
So just FY, llc means LimitedLiability Corporation and
S-Corporation is SubchapterCorporation.
A lot of people don't know whatthe S is and now you do it's
(03:54):
Subchapter Corporation.
That's what the S-Corporationmeans.
So, going back to the CorporateTransparency Act in 2021 that
was passed and it says if youhave an LLC or an S corporation
or any other registered entityso let's say, you come from a
(04:15):
foreign country and you dobusiness in the States and you
have an entity registered in theState, this is applicable to
you also.
So here we go.
If you created an entity beforeJanuary 1st 2024, you must file
(04:38):
for a BOI by January 1st 2025.
With its registration.
Some of us only got a coupleweeks hey hey, you know, wow,
and just FYI, if you filed anentity from January 1st to well,
(05:01):
january 1st, 2024, you have 30days.
So hopefully, because we arewell into 2024, hopefully, when
you filled out this entity,somebody said, hey, you need to
file with FinCEN for the BOIBecause with after 30 days,
we're going to go over all thepenalties that could accrue.
(05:23):
We're going to go over all thepenalties that could accrue.
But, anton, can you just givethem the breakdown of the
entities that are exempt fromthis filing?
Absolutely.
Speaker 2 (05:33):
So there's 23 types of companies that are exempt
from filing the BOI.
Okay, it's funny how they'reprotecting the money Watch.
When I read this list, you'regoing to be like oh okay, I see
where they're protecting themoney Watch.
When I read this list, you'regoing to be like, oh okay, I see
where they're going.
So the 23 types of companiesthat are exempt are as follows
Security reporting insurers.
Governmental authorities.
Three banks.
(05:54):
Four credit unions.
Five depository institutionholding companies.
Six money services businesses.
Seven brokers or dealers insecurities.
Eight securities exchanges orclearing agencies.
Nine other exchange actregistered entities.
(06:16):
Ten investment companies orinvestment advisors.
Eleven venture capital fundadvisors.
Twelve Seven Venture CapitalFund Advisors.
Twelve Insurance Companies.
Thirteen State LicensedInsurance Producers.
Fourteen Commodity Exchange ActRegistered Entities.
Fifteen Accounting Firms.
Sixteen Public Entities.
(06:37):
Seventeen Financial MarketUtilities.
Eighteen Pooled InvestmentVehicles.
Is that 18 or 19?
That was 18.
Yeah, 18.
Nineteen, is that 18?
Speaker 1 (06:45):
or 19?
That was 18.
Speaker 2 (06:46):
Yeah, 18.
19 tax-exempt entities, 20entities assisting a tax-exempt
entity, 21 large operatingcompanies, 22 subsidiaries of
certain exempt entities and 23inactive entities.
Speaker 1 (07:06):
All right yeah.
Speaker 2 (07:07):
And please note that if your company is one of these,
then you do not have to file.
Speaker 1 (07:16):
And just FYI, the large operating companies.
What does that break down topretty much.
What criteria is thatconsidered?
Speaker 2 (07:23):
Large operating companies.
I believe it's more than 20employees.
Speaker 1 (07:27):
More than 20 employees and more than 5
million, 5 million, yeah, andreported, reported, reported
meaning on their tax returnRight right so if you don't have
more than 20 employees and $5million reported on your tax
return, you are not considered alarge operating company.
Speaker 2 (07:48):
I'm sure that's because they know they can find
you already Already exactly withthat kind of money.
Speaker 1 (07:53):
And so here it is.
Ladies and gentlemen, Just incase you think, well, all right,
what is the big deal withfiling this?
Well, here's what thegovernment, the federal
government, has put together aspenalties if you choose not file
, if you have an entity and youfiled for the entity before
January 2024.
(08:15):
Okay, so you have until the 1stof next year.
If you don't file this BOI,this Benefit Ownership
(08:36):
Information, this benefitownership information,
beneficial ownership informationform, you will be fined $591
per day $591 what?
$591 per day?
Per day?
Up to $10,000.
(08:58):
And if you still didn't fileyour benefit, beneficial
ownership information, as I'msaying the whole thing, so it
can really get into your head.
And if you don't do it, evenafter that, you will go to jail
for up to two years.
They putting people in jail.
They're going to put you injail, man.
(09:18):
So you know, if you wonderingif, if you should file on that,
this should be the reason whyyou should file this and listen,
DM us, ask us any questions youwant us about this, because we
want to make sure our wealthyand the people that are hearing
this do not get caught up withthis.
(09:39):
This because it sucks to haveto pay $591 a day.
It sucks to pay up to $10,000.
And it really sucks to be injail for up to two years if you
just don't file this.
It takes five to ten minutes,but go ahead.
Yeah, I don't think nobodywants to do that, and there are
six entities.
So now you may wonder well,okay, I did this for an
(10:00):
anonymity, where people can findme, like in Delaware, las Vegas
, wyoming Now people are goingto be able to find me, but
there's only six people that areallowed to pull from this.
So what are?
Speaker 2 (10:12):
those six entities.
So it's not necessarily likeyour information is just out
there all over the place.
All right, if you're worriedabout your information being out
there.
There are actually only sixentities, like Mike said, who
can request your BOI reportafter you file with FinCEN.
Okay, number one is going to befederal agencies engaged in
national security, intelligenceand law enforcement.
(10:33):
All right, pretty serious stuff.
State law enforcement.
Number two, with a court orderby the way.
Number three is the US TreasuryDepartment.
Number four is financialinstitutions who have your
consent.
Number five is governmentregulators of financial
(10:53):
institutions.
And number six is foreignauthorities requesting
information through a US agency.
Foreign authorities requestinginformation through a US agency.
All right, so these are somepretty serious organizations if
it's coming down to somethinglike that.
But you know you're filing this.
Oh, by the way, mike, I thinkwe should tell them too that one
of the places they have someparameters in place so people
(11:15):
can make sure they go and getthis done.
They're not making it hard todo.
Right, with the research we did, this can all be done If your
company is structured, complex,has some type of complex
structure.
Maybe it'll take a little bitlonger, but typically this type
of exercise should be able to bedone within five to ten minutes
.
You can go to FinCENgov andfile for free.
(11:37):
It's not like it's costing usany money to do this.
It's one of the places.
There's other places you can goand do it too, but directly on
the finson website.
Speaker 1 (11:48):
That's a right, obviously.
That's a reputable place we canall go to do that.
And just a quick review we wantto make sure that you remember
the 23, uh, um, type of entities.
I would urge we're not going tore-mention it again but go look
it up, uh, to see if yourcompany is an exception from
filing this.
And again, there's six entitiesthat can pull it up and one of
(12:09):
them remember it says thefinancial institution who you
have given consent.
So that could be like a bank orany type of hedge fund or
financial entity that you sayokay, and I'm pretty sure
they'll have forms and you'llknow what you're filling out to
say, okay, this is the personwho's a membership, who's a
member of this LLC or Scorporation.
(12:32):
Right.
So we just want to make surethat everybody's aware of this
and we felt it was important tobring this, but we also want to
give them the breakdown on itlike we always do in every show,
right we?
know you guys are going to gohave a great holiday, but we
want to keep this in mind.
So here's the literal.
The literal is take five to 10minutes, do it now, or go to
(12:58):
jail or pay.
That's the literal.
That's what's gonna happen.
Yeah, like we felt strongenough to come out here and and
do this podcast because we don'twant people getting hurt,
because pretty much what willhappen?
Speaker 2 (13:15):
people will get hurt that's the first thing I said to
you.
Like when you told me aboutthis.
I said, bro, a of people goingto get hurt by this because they
don't know Exactly and nobody'sout here educating them and
trying to get this informationto them so they can not only
just hear about it butunderstand and believe it,
because they're not playingaround about this, they're not.
Speaker 1 (13:34):
They're not.
And the mental part if youdon't do the BOI, mentally
you're going to worry about yourbank account being tapped.
Imagine $591 a day.
If you didn't file up to 10K,you could lose 10K.
Even worse, you can go to jail.
(13:56):
God forbid.
You go to jail yeah, you knowso mentally or they'll put out a
warrant for your arrest to goto jail.
Do you want that in your head?
That's the last thing you wantto deal with.
That's the last thing you wantto think about.
So, mentally, you don't wantthis to be falling on you.
(14:16):
So make sure you go file.
Speaker 2 (14:20):
Yeah, yeah and, of course, spiritual Mike.
Obviously it's just very simpleas well.
But getting your BOI done, beworry-free.
Don't have to not be worry-free, not having to think about it,
and grow your business with apeace of mind.
Speaker 1 (14:36):
There you go.
Speaker 2 (14:37):
Period Point blank.
Speaker 1 (14:38):
That's it.
That's what it is.
Speaker 2 (14:40):
And you know, mike, we always want to, we always
want to encourage, be on apositive note.
You know we study that here atFinance Bros.
So again, we're reiteratingthis information is everywhere.
Yes, the filing part is easy todo.
A lot of us only have about 45days to go and take action, but
it's so, so simple.
(15:01):
There's parameters in place,there's websites that have been
developed just to get on thereand file the information and
just be done with it, be able toput it down and keep looking
forward.
So let's not think of it as abig deal.
Let's just all be informed,let's go do what we got to do
and let's keep it pushing.
Speaker 1 (15:20):
Yeah and listen.
If you really can't have, ifyou don't have five, ten minutes
, find somebody, Because whenyou're in jail you have all the
time in the world, you ain't gotfive minutes left.
You ain't got five minutes left.
You will have it later.
So and that brings keeping thespiritual aspect of course we
had to have a t-shirt for this.
Speaker 2 (15:40):
Of course I love this t-shirt.
Speaker 1 (15:42):
We went through a spiritual uh uh route on this
one.
Speaker 2 (15:46):
We stayed in the spirit we stayed in the
spiritual.
Speaker 1 (15:48):
we went to the bible, ladies, and yes, yes, finance
went to the bible.
Yes, finance has to do with thebible.
Yep, it was a luke, chapter 12,verses 2 and 3, and I'll, we'll
just paraphrase this for thet-shirt Basically, it says
what's done in the dark willcome to light.
That's short and sweet, shortand sweet, very succinct.
(16:10):
So if we got to make theset-shirts before January 25th,
before January 2025, I mean soJanuary 1st 2025, if we have to
make those t-shirts foreverybody to wear them, so you
don't go to jail.
We will do that.
I'll rock the.
Luke 12 shirt Mike so Luke 12,verses 2 and 3, paraphrasing
(16:36):
what's done in the dark willcome to light, amen brother.
Speaker 2 (16:41):
Hey, we not gonna hold you guys.
We already said we gonna keepit short, we gonna keep it sweet
, not gonna hold you guys.
We already said we gonna keepit short, we gonna keep it sweet
.
Wanted to bring you guys thisvaluable information, this
public service announcement.
Drive it home fast, drive ithome hard, put in your guys'
hearts.
Let you go out and take actionwith it.
Obviously, you know how to findus, check us out On all our
social media Podcast platformsDM us, apple Podcasts,
(17:02):
iheartradio, spotify.
Obviously, you know to check usout at our home on HHN TV.
But come look us up, come findus if you got more questions and
you already know.
As usual, I appreciate, youDon't go to jail.
Hey, you already know We'll seeyou at the bank.
Peace y'all, take care world.
Speaker 1 (17:33):
Thank you, thank you, thank you for watching.
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