478: The Corporate Transparency Act is Coming. It Probably Affects You.
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 4 December 2023
⏱️ 36 minutes
🧾️ Download transcript
Summary
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 money laundering and terrorist financing.
If you don't own real estate in an LLC, you probably won't need to comply. There are pros and cons of using LLCs, which I discuss.
For help complying with the CTA, you can contact Corporate Direct at CorporateDirect.com or (800) 600-1760.
Resources mentioned:
Show Notes:
Corporate Direct:
CorporateDirect.com
1-800-600-1760
Video platform with kids' FinEd:
SunnStream.com/fivetricks
For access to properties or free help with a
GRE Investment Coach, start here:
Get mortgage loans for investment property:
RidgeLendingGroup.com or call 855-74-RIDGE
or e-mail: info@RidgeLendingGroup.com
Invest with Freedom Family Investments.
You get paid first: Text FAMILY to 66866
Will you please leave a review for the show? I'd be grateful. Search "how to leave an Apple Podcasts review"
Top Properties & Providers:
GRE Free Investment Coaching:
Best Financial Education:
Get our wealth-building newsletter free—
text 'GRE' to 66866
Our YouTube Channel:
www.youtube.com/c/GetRichEducation
Follow us on Instagram:
Keith's personal Instagram:
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to GRE. I'm your host Keith Whitehold. If you're a real estate investor or small business owner, |
| 0:06.1 | there's a pretty good chance that you'll have to comply with the new Corporate Transparency Act. |
| 0:11.4 | What is it? What do you have to do? Who is it for? And you'll certainly get my unvarris opinion about it today on get rich education. |
| 0:22.7 | When you want the best real estate and finance info, the modern internet experience |
| 0:27.8 | limits your free articles access and it's replete with paywalls and you've got pop-ups |
| 0:34.2 | and push notifications and cookies disclaimers. |
| 0:37.5 | Oh, at no other time in history has it been more vital to place today? pop-ups and push notifications and cookies disclaimers. Ugh. |
| 0:38.3 | At no other time in history has it been more vital to place nice, clean, free content into |
| 0:45.1 | your hands that actually adds no hype value to your life. |
| 0:49.3 | See, this is the golden age of quality newsletters, and I write every word of ours myself. It's got a dash of humor |
| 0:58.1 | and it's to the point. To get the letter, it couldn't be more simple, text GRE to 666866. And when you |
| 1:06.0 | start the free newsletter, you'll also get my one hour fast real estate course completely free. It's called |
| 1:13.7 | the Don't Quit Your Daydream Letter and it wires your mind for wealth. Make sure you read it. Text |
| 1:20.4 | GRE to 66-866. Text GRE to 6666-866. |
| 1:36.2 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:40.3 | This is Get Rich Education. Welcome to GRE from Livonia, New York to Livonia, Michigan, and across 188 nations worldwide. |
| 1:51.8 | I'm Keith Weinhold, and this is Get Rich Education. |
| 1:55.3 | We don't do day trading. |
| 1:57.0 | We do decade trading. |
| 1:59.9 | Often here on this show, we are talking about the excitement and the virtues of real |
| 2:05.1 | estate investing and expanding your portfolio. And other times, it's a slowdown and check |
| 2:10.8 | yourself episode. And that's what we have today when we discuss asset protection and government |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Keith Weinhold, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Keith Weinhold and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.