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Podcast: Get Rich Education
Episode: The Corporate Transparency Act is Coming. It Probably Affects You.
Description: If you own a real estate entity (like an LLC), the new Corporate Transparency Act (CTA) must be complied with soon. I have my own attorneys on the show to discuss this today, Garrett and Ted Sutton. You must report ownership information to the federal government. It must only be done one-time, not annually. The penalties for non-compliance with the CTA can be as high as $10,000 in fines or up to 2 years in jail. Those penalties would be for the most egregious acts. The intent behind the CTA is to prevent...