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Taxed Enough Already: Episode 8

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2 Over 7 Rule & BOI Reg. Changes with Otto Rabe


In this episode of Taxed Enough Already we asked the CEO of Mountain View CPAs, Otto Rabe, to give us some insight into 2 profoundly relevant topics:

  1. A phenomenal but underutilized taxed strategy referred to as the 2 over 7 rule

  2. And the new regulation that was passed this year; the Beneficial Ownership Information Reporting Rule, also referred to as the BOI Reporting requirements



Otto Rabe is the CEO of Mountain View CPAs and can be reached through their website, or you can contact Mt. View CPAs here.

Ron Jankowitz is the Managing Partner at Ronald S. Jankowitz, CPA and can be reached through their website, or you can contact Ronald S. Jankowitz, CPA here.

Dan Nuwash is the Founder and Managing Partner of Finance For Thought and can be reached through our website.


Watch Taxed Enough Already here, on Rumble, YouTube, and listen to it on Apple Podcasts, Spotify, or anywhere you listen to your podcasts.


If you're interested in obtaining more information you can schedule a quick introductory Zoom meeting with one of our partners using the button below or contact our office.


Disclosures:
TAX- To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purposes of avoiding penalties that may be imposed by law. Each tax payer should seek tax, legal or accounting advice from a tax professional based on his/her individual circumstances.


TAXES- This material is for informational purposes only. Neither Finance For Thought, FFT nor its Representatives provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.



Sources:

https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations

https://uscode.house.gov/view.xhtml?path=/prelim@title26/subtitleA/chapter1/subchapterS&edition=prelim

https://www.law.cornell.edu/cfr/text/26/1.1361-1

https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-compensation-and-medical-insurance-issues

https://www.kinetixfp.com/post/optimizing-qbi-with-the-2-7-rule

https://www.fincen.gov/boi-faqs

https://fincen.gov/boi

https://home.treasury.gov/news/press-releases/jy2015

https://www.grantthornton.com/insights/alerts/tax/2024/insights/new-rules-require-beneficial-ownership-reporting-fincen

https://www.aicpa-cima.com/resources/landing/beneficial-ownership-information-boi-reporting

https://www.federalregister.gov/documents/2023/11/30/2023-26399/beneficial-ownership-information-reporting-deadline-extension-for-reporting-companies-created-or

https://www.federalregister.gov/documents/2022/09/30/2022-21020/beneficial-ownership-information-reporting-requirements