@26:00 A lower court has found that BOI is unconstitutional. It's *OBVIOUSLY* a violation of the 4th and 5th amendments, a fishing expedition. However, the lower court has said it only applies to the plaintiffs in the case while the government appeals. Our clients don't know anything about it even after we try to explain it to them, they don't understand it or comprehend the risk of not complying. It's an attack on small businesses and should be repealed. People have trouble keeping up with all the crap they already have to deal with and now you're going to add this to the pile too? The requirement to submit changes within 30 days is even more ridiculous than the law itself. If they enforce this on small businesses it will drive a ton of more people out of business, which appears to the be the goal of the Federal Government considering the last four years. This isn't going to stop money laundering. It's just going to damage small businesses. @32:10 government lackey doesn't even know the rules for the crap he's trying to impose on everyone else! Acts like it's no big deal to keep up with this. How infuriating. 🤬
How about discuss higher salaries for the profession. We are touted as having to have similar education to lawyers and doctors, but don’t get paid near what they do. Instead of making the profession better you make it so that CPAs have to compete against TurboTax/Intuit and advocating to outsource the profession. Shame of the AICPA.
@26:00 A lower court has found that BOI is unconstitutional. It's *OBVIOUSLY* a violation of the 4th and 5th amendments, a fishing expedition. However, the lower court has said it only applies to the plaintiffs in the case while the government appeals.
Our clients don't know anything about it even after we try to explain it to them, they don't understand it or comprehend the risk of not complying. It's an attack on small businesses and should be repealed. People have trouble keeping up with all the crap they already have to deal with and now you're going to add this to the pile too? The requirement to submit changes within 30 days is even more ridiculous than the law itself. If they enforce this on small businesses it will drive a ton of more people out of business, which appears to the be the goal of the Federal Government considering the last four years. This isn't going to stop money laundering. It's just going to damage small businesses.
@32:10 government lackey doesn't even know the rules for the crap he's trying to impose on everyone else! Acts like it's no big deal to keep up with this. How infuriating. 🤬
How about discuss higher salaries for the profession. We are touted as having to have similar education to lawyers and doctors, but don’t get paid near what they do. Instead of making the profession better you make it so that CPAs have to compete against TurboTax/Intuit and advocating to outsource the profession. Shame of the AICPA.