Tax Smart Real Estate Investors Podcast
244. What Real Estate Investors Need to Know About the 2024 Corporate Transparency Act (CTA)
Podcast summary created with Snipd AI
Quick takeaways
- Real estate investors need to be aware of the 2024 Corporate Transparency Act and its reporting requirements for disclosing beneficial ownership information to FinCEN.
- Entities formed or registered to do business in the U.S. must report details about their beneficial owners, such as name, address, taxpayer identification number, and ownership interests, with exemptions for certain entities subject to regulatory oversight.
Deep dives
Overview of the Podcast
In this episode of the Tax Mart REI podcast, the hosts discuss their show's history and ask for ideas from listeners on how to grow the show. They mention the number of episodes, listeners, and downloads they have received so far. They emphasize the importance of ratings, reviews, and sharing the podcast to reach more investors. They also mention their presence on social media platforms and their plans to expand. After this brief introduction, the hosts delve into the main topic of the episode: the Corporate Transparency Act, which will take effect on January 1, 2024. They explain that the act introduces new reporting requirements for entities formed or registered to do business in the U.S., requiring them to disclose information about their beneficial owners to FinCEN.
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