✋ 5 things I wish I knew before filing my BOI Report

You’ve been hearing me talk a LOT about this new BOI Reporting requirement, and for good reason.

Because just like income taxes are required, so is this BOI Report (as of January 1 of this year!).

So fun, I know… Thanks, US Government!

And while some may say, “It’s easy! I filled it out in 5 minutes!” I want to caution you….🛑

There are over 50 lines of information required – some parts you need to fill out, and others you don’t.

So it’s not as easy as it may seem.

⁉️ And what about knowing if you even have to fill it out in the first place?

👉 Here are 5 questions I am hearing often – that people wish they knew before diving into this whole BOI thing:

1. I have a sole proprietorship. I haven’t had to file a business license. Do I need to file a BOI Report?

The answer is no.

2. Do I need to file if I just have a DBA?

DBA stands for “doing business as” which some states also refer to as an fictitious/trade/alternate name for your business.

If you have a DBA for a corporate entity (like an LLC or corporation) then you need to file a BOI Report.

If you have a DBA as a sole proprietor with a BUSINESS LICENSE filed in your state, then you need to file a BOI Report.

But, if you just have a DBA for your sole proprietorship, then you don’t.

3. I formed my LLC last year but I’m not making any money yet. Do I still have to file a BOI Report?

Yes. All business owners who own an LLC, LLP, PLLC, S-Corp, C-Corp, PC, PA (or sole proprietor who filed a business license with your state) must file a BOI Report, even if you are just getting started.

The exception is for businesses making over $5 million in gross income per year.

4. Are there any exceptions that apply to me?

Not likely. There are a long list of exceptions, but if you own an LLC, LLP, PLLC, S-Corp, C-Corp, PC, PA or you’re a sole proprietor who filed a business license with your state, then you have to file a BOI Report.

5. I am a medical practitioner who is a sole proprietor. I don’t have an LLC but I have a medical license with the state. Do I have to file a BOI Report?

No. Only if you are a sole proprietor with a BUSINESS license – not a professional license like a medical license.

Do you have another specific question about whether the BOI Report applies to you? Comment below and we can help!

Can you see how it’s not as simple as it seems?

But don’t worry… I’ve got you.❤️

I’ve done the heavy lifting, so you don’t have to!

I created a 50-Minute do-on-your-own-time DIY Legal Master Class to walk you through filing your BOI Report, step-by-step.

So that at the end of the Class, you can hit “submit” and be done!

Just “add to cart” for just $97 here.

What if you have questions as you fill out the report?

I’ve got you again!

Anyone who purchases the Legal Master Class will be invited to a monthly Group Q&A Call starting this month (April through December!) to ask any question about the BOI Report.

Yep! If you run into any snafus, you can save your work, join the live group Q&A call, and get the clarity you need to complete your filing.

Sound good? Here are your next steps:

1. Purchase the DIY Legal Master Class “How to File Your BOI Report” for $97 here. 🌟

2. Watch the 50-minute video class on your own time and follow along with me as you file your BOI Report, step by step.

3. Bring any questions to a monthly “BOI Report Q&A Call” if you need extra help.

That’s it! 🎉 Voila! Done!

Here’s to getting your BOI Report filed correctly and easily!

Wondering how truly easy it is to file your BOI Report with this DIY Legal Master Class? Here’s what previous clients had to say:

📣 “Thank you, Lisa – this was so helpful! Relieved to have this completed! Really appreciate you!”- Pam M.

📣 “Thank you very much Lisa! You are such a blessing!” – Bonnie R.

📣 “Great presentation Lisa. You made BOI easy to understand. Thank you!” – Elaine S.

Save yourself a headache and get the DIY Legal Master Class here.