Thank you for the great information provided. If I have $50K in my personal savings to fund my LLC; how do I properly do that? Also, how do I collect funds when my LLC starts generating income? A video or written response would be greatly
@@MrElnegrito88They do but beyond name and address (Physical) but you don’t have to supply your SSN By Law! I Bring my No SS required form with me to Every bank I go to! 😉
I'm favoured, Getting my own Truck has always been my Dream for my business. I just acquired 2 recently, earning $32K weekly has been really helpful. I can now give back to the locals in my community and also support Charity Organizations
It really depends on how your LLC is structured. If you’re a single-member LLC, you’d typically take an owner’s draw, but if you’ve elected S-Corp status, paying yourself a reasonable salary might be required to avoid IRS penalties. Have you spoken to a financial advisor about this?
For me, i did, I went the S-Corp route for my LLC and started paying myself a salary, but I ran into tax issues because I wasn’t clear on what “reasonable compensation” meant. It’s tricky. Plus, I realized I wasn’t setting aside enough for retirement.
I completely understand. A friend of mine recommended Joseph Nick Cahill, a CFA who specializes in portfolio management and investments. He’s helped so many people turn their finances around, including business owners like us. He offers free consultations too, so there’s no harm in reaching out
Hallelujah! God is still performing wonders. I'm positioning myself for such miracles. This is the best thing I've seen today on UA-cam-thank you so much!.540k earned so far.
To be successfully in life one must take risk, investing brings success that’s why the rich will never come out in public to tell you how they make their money
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
I know this lady you just mentioned. Evelyn Infurna Services is a portfolio manager and investment advisor. She gained recognition as a former employee at Goldman Sachs; a renowned investor she is. Evelyn Infurna has demonstrated expertise in investment strategies n has been involved in managing portfolios and providing guidance to clients.
I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Evelyn Infurna. I am at $128k right now and LOVING that you have to bring this up here
Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
Well the name is 'Evelyn Infurna Services. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
The video explains how LLC owners can pay themselves through owner's draws in 2025. It covers steps like obtaining an EIN, setting up a business bank account, and making draws. It also discusses tax implications, liability protection, and considerations for new business owners.
This year I decided to turn my passion and “hobby” into a business. I’m very knowledgeable in my field but I’m admittedly not very knowledgeable with the business aspect. I have a lot to learn and your channel looks like it’s loaded with great information. I just subscribed and I’m looking forward to learning more from you. Any business tips for a dog trainer/breeder? Thank you and God bless!
Small taxes can affect investment decisions such as whether to choose tax-free municipal bonds over taxable bonds or do a Roth IRA conversion. I’ve been sitting on over $745K equity from a home sale and I want to invest on the stock market, how do I achieve this without being taxed twice?
There’s more benefit to holding fixed-income assets in tax-deferred retirement accounts as opposed to taxable accounts. If you're not who understands strategies to invest in the market, seek a Financial advisor to guide you.
Indeed, I did make use of a financial counselor. As I get closer to retirement, their advice has been really helpful. I thought compound interest on index funds wouldn't be sufficient because I started late. It's amusing how I've done better than colleagues who have more years of investment experience. I've profited more than $886k tax free.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
They are out of thier mind! Plenty of fear mongering for years. I should have just been long NVDA and SPY and cash in from an epic bull run. With a predicted 'massive' rally . It makes me wonder if it's time to rebalance my 6 figure portfolio or maybe even consider some value additions.
They're better investment strategies than moving to all cash waiting to deploy. Follow the S&P 500 by investing in ETFs like VOO, SPY, and SCHD. Dollar-cost averaging into these ETFs will likely outperform most investors.
My dollar portfolio i DCA with is made up of 30% NVDA, 25% SCHD, 15% VOO and over 30% in digital assets, thanks to my CFA. This strategy is what works for my spouse and I. We've made over 80% capital growth minus dividends.
Sophia Irene Powell is the advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.
Just wanted to say, ‘Carol Vivian Constable’, my CFA, is the real deal in his field. Dig deeper into her background; she's got years of experience and is a goldmine for anyone diving into the financial jungle!
Hi. Thank you very much for the information you share. Can you make a video explaining the differences between LLC names and business name? Which one does the NAIC apply to and the virtual address etc? Also. In one of your videos, you said never swipe your personal card for business expenses and vice versa. What about things like virtual address and start-up fees if your business isn’t making money yet. Thank you
Should have been clear enough to articulate that “switching to an s-corp” means selecting to be treated as an s-corp for tax purposes while still being an LLC. It is not about switching the actual entity structure.
Just subscribed! I have a video you NEED to make. I’m a tax accountant of 3 years now and am super worried about a possible flat tax rate and simplyfing the tax code like crazy. Chamath Palihapatia and DOGE have discussed this. Would love to hear your thoughts and how our profession would continue in this situation!!! Thanks for all you do!
So would you advise not to use a personal credit card for business? I want to gain the points and don't want the annual fee as an over head since I already paid it on the personal side
It is best to use a business credit card for business. You risk co-mingling expenses when trying to reimburse your business from your personal credit card. I’ve seen Amazon offer business credit cards for new & existing companies. They make the application process easy….visit them.
I'm 37 and have been looking for ways to be successful, please how?? find additional sources of income; thus, I am looking at the stock market to fuel my retirement goal of $3 million
I want to compliment you, you have said it all. I am a little business owner and I really want to expand my business to the next level by making myself an investor but I really don't know how to go about it..
Venturing into crypto as a newbie was very difficult due to lack of experience which resulted in loosing funds... But miss harriet dixson, restored hope shes a good woman
Frequent changes in the tax code are making it challenging to maintain my long-term investment strategies. Are there ways to structure my portfolio to be more resilient to potential tax adjustments?
In my view, the U.S. needs a comprehensive overhaul of its political system. The fact that Trump and Biden were chosen to lead out of 300 million people highlights the flaws.
Wrong on the self-employment tax: 12.4% only until the social security max,; thereafter 2.9% - half of which total is a above-the-line tax deduction in the owner's personal income tax return (and note that an additional 0.9% tax may apply, depending); Second, while a solely owned LLC might be described as a pass-through entity, it would be more accurate to describe it (as it usually is) as a disregarded entity - for federal, and generally state, income tax purposes the entity doesn't exist apart from its owner, i.e., it's existence is disregarded. Put differently, there is no income tax difference between a sole proprietorship and a solely owned LLC (unless of course a election is made to treat the entity as a corporation). In addition, switching to an S corp is no panacea and contrary to your assertion is certainly not necessary at any point in time; moreover, your statement that an S corp gives you better control over your finances is simply patently absurd, the requirement to pay your self a salary, with the attendant payroll tax reporting and payment obligations is either a headache or an additional cost, there is the additional obligation to file federal and state income tax returns and if necessary for the entity to borrow money (typically with full recourse to the owner) to fund losses, the losses so funded won't be currently deductible. Other than the forgoing I have no problem with your video.
@@MockManor I was checking out my email spam and found something from Karlton Dennis where he refers to the Internal Revenue Code as the "IRS tax code" revealing his ignorance. There is no such thing as the IRS tax code, it is not the IRS' creation, it is the creation of the Congress (with the relevant President signing the legislation). No self-respecting, competent tax guy would ever refer to it as the IRS code. This guy is something else.
Can you do a episode on credit card debt and what to do to get rid of them. Should you transfer the debt to there cards. Please address this. I'm trying to get debt free of credit cards
I did this last year and it made life so much easier on tracking my finances because I’m terrible at check registers. Sadly, I have to withdraw almost of of it to live on. My taxes go into a savings account with higher interest. (Ugh then we have to pay taxes on that too wtf? Is there anything they don’t tax?) I put my expenses on a credit card I try to pay monthly. Biz has been awful the last few years. I hope someone gets into office tomorrow who cares about very small biz America.
What if you have to put money back in your business bank account from your personal account to avoid the business account is not too low. Is this allowed
As far as the double taxation is concerned, if I use a payroll system (I.e. Gusto) to pay myself from the LLC. You’re saying I won’t have to pay taxes when I file (with my hubby) just my LLC will pay taxes??
I’m watching your video very closely from last two years. I have a serious situation this year. I lost around $45k in Forex what should I do so I can get tax break for tax year 2024? Please respond me
If I own an LLC and my LLC made $1,000 Net Profit. I made a owner's drawing of $400. What amount is subject to Taxes by the IRS? The whole $1000 Net Profit OR only the $400 I withdrew as owner's distribution? Or the $600 Net profit that was left undistributed in the LLC?
Yes, if the Corp has no appreciated assets. Though there are several ways to do it, they all result in a deemed sale of the corp's assets, thus producing taxable income to the S corp (and therefore to your wife). Of course, you can still do it if you wish to.
Hi I been having A LLC for 2 years for a small dj business, this 2 years i haven’t file any taxes or talk to a financial advisor? I didn’t know nothing about business people just told me to get an LLC now I am screwed
I thought about sending an invoice to the business with all the charges that had occurred. That way I have a paper trail and documentation needed if necessary. But to be honest I'm not too sure if that would work but it seems plausible.
I did the same thing and here are the steps I took: I went online and got a template for a Loan Agreement and step by step filled in the pertinent information signed, dated and then notarized the agreement. When the LLC has made a profit, then , according to the terms of the loan agreement, the LLC entity can write you a check for partial payment or full payment… once again, this will be according to the terms that YOU have specified in the LOAN AGREEMENT. I hope this helps.😊
@leslieo.jordan6339 That's very helpful, but i already used the money in the llc without a loan or anything. i just put it in the account and transferred it to my personal account as a payback, im not making profits, yet anyway, i just needed my money back. im jobless and need that money now. My business uses a credit card because it got approved
Invest in Bitcoin before retiring by diversifying across assets, allocating a small portion of your portfolio, staying updated on market trends, and considering long-term holding to balance risk and growth.
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
I am from Miami United State🇺🇸, The difference Mrs Lucy Mary Liam makes in my life is second to none it's definitely a life changing kindness. I really appreciate her effort in my life.
Seeing my broker talked on UA-cam, This was exactly how I got the recommendation about her for the past years. Hit $200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with $20k in July 2024
Her good strategies of making large amount weekly profits for her clients are totally outstanding. Investing my $1500 with doubt and withdrawing $12,300 with happiness. I ❤️ you Lucy.
Your videos have been truly impressive! As one of your regular viewers, I've been following your content closely for a while now. I'm very interested in making an investment, but I’m still having trouble identifying the right opportunity to fully commit to. I would greatly appreciate any guidance or suggestions you might have in this area.>>
As a beginner investor, having a mentor to hold you accountable is crucial. Personally, I’m guided by Gregory Leo Cattel, a well-known crypto consultant. While I can't share much about him, I recommend searching his name online to find the details you need to schedule an appointment.
I started working with Coach Gregory Leo Cattel back in August, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.
Gregory Leo Cattel success can be attributed to his unwavering dedication to setting realistic goals, expertly navigating clients through complex financial landscapes while avoiding the pitfalls of unrealistic expectations.>
Subscribe to the channel for more high-quality tax insights and information and to help us reach 1 million subscribers!
Why the bank is asking for personal info to open the account when I give them the EIN number?
Thank you for the great information provided. If I have $50K in my personal savings to fund my LLC; how do I properly do that? Also, how do I collect funds when my LLC starts generating income? A video or written response would be greatly
Subscribed Bro!
@@MrElnegrito88They do but beyond name and address (Physical) but you don’t have to supply your SSN By Law! I Bring my No SS required form with me to Every bank I go to! 😉
I'm favoured, Getting my own Truck has always been my Dream for my business. I just acquired 2 recently, earning $32K weekly has been really helpful. I can now give back to the locals in my community and also support Charity Organizations
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
Started with 5,000$ and Withdrew profits
89,000$
Please who is this Mrs Jenna
This sounds so good andI would like to
be a party to this, is there any wayl can
speak with her?
SHE'S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME
Jennagina...that's it💯.
i got a question do i need to pay personal taxes after i do the llc taxes
It really depends on how your LLC is structured. If you’re a single-member LLC, you’d typically take an owner’s draw, but if you’ve elected S-Corp status, paying yourself a reasonable salary might be required to avoid IRS penalties. Have you spoken to a financial advisor about this?
For me, i did, I went the S-Corp route for my LLC and started paying myself a salary, but I ran into tax issues because I wasn’t clear on what “reasonable compensation” meant. It’s tricky. Plus, I realized I wasn’t setting aside enough for retirement.
I’ve been considering hiring a CFA, but I’m not sure where to start. It’s overwhelming to figure out who’s trustworthy.
I completely understand. A friend of mine recommended Joseph Nick Cahill, a CFA who specializes in portfolio management and investments. He’s helped so many people turn their finances around, including business owners like us. He offers free consultations too, so there’s no harm in reaching out
That’s smart. I’ve been too focused on my business and neglected investing. Inflation is eating into my savings, and I need to do something about it.
My husband and I have had an LLC for 13 years. You nailed all the key points and very clear. Nice job!
One of the best You Tube reels I have viewed as a small business owner!
Good afternoon Karlton I have learned a lot from watching your content. It has definitely helped me a lot
Your Knowledge is Priceless! The "GOAT" for Taxes. Thank You, for Your Amazing Content.
Ha, ha, ha.
Hallelujah! God is still performing wonders. I'm positioning myself for such miracles. This is the best thing I've seen today on UA-cam-thank you so much!.540k earned so far.
To be successfully in life one must take risk, investing brings success that’s why the rich will never come out in public to tell you how they make their money
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
I know this lady you just mentioned. Evelyn Infurna Services is a portfolio manager and investment advisor. She gained recognition as a former employee at Goldman Sachs; a renowned investor she is. Evelyn Infurna has demonstrated expertise in investment strategies n has been involved in managing portfolios and providing guidance to clients.
I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Evelyn Infurna. I am at $128k right now and LOVING that you have to bring this up here
Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
As a newbie, what do I need to do? How can I invest, on which platform? If you know, please share. I'm new to this, please how can I contact her?
Well the name is 'Evelyn Infurna Services. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
The video explains how LLC owners can pay themselves through owner's draws in 2025. It covers steps like obtaining an EIN, setting up a business bank account, and making draws. It also discusses tax implications, liability protection, and considerations for new business owners.
This year I decided to turn my passion and “hobby” into a business. I’m very knowledgeable in my field but I’m admittedly not very knowledgeable with the business aspect. I have a lot to learn and your channel looks like it’s loaded with great information. I just subscribed and I’m looking forward to learning more from you.
Any business tips for a dog trainer/breeder?
Thank you and God bless!
When paying yourself and you want to get a personal loan , how does that work if your the owner of the LLC
Small taxes can affect investment decisions such as whether to choose tax-free municipal bonds over taxable bonds or do a Roth IRA conversion. I’ve been sitting on over $745K equity from a home sale and I want to invest on the stock market, how do I achieve this without being taxed twice?
There’s more benefit to holding fixed-income assets in tax-deferred retirement accounts as opposed to taxable accounts. If you're not who understands strategies to invest in the market, seek a Financial advisor to guide you.
Indeed, I did make use of a financial counselor. As I get closer to retirement, their advice has been really helpful. I thought compound interest on index funds wouldn't be sufficient because I started late. It's amusing how I've done better than colleagues who have more years of investment experience. I've profited more than $886k tax free.
Hope you don't mind if I ask you to recommend this particular professional you use their service?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
First time viewing and thank you! I will share
Your discussion is very nice
They are out of thier mind! Plenty of fear mongering for years. I should have just been long NVDA and SPY and cash in from an epic bull run. With a predicted 'massive' rally . It makes me wonder if it's time to rebalance my 6 figure portfolio or maybe even consider some value additions.
They're better investment strategies than moving to all cash waiting to deploy. Follow the S&P 500 by investing in ETFs like VOO, SPY, and SCHD. Dollar-cost averaging into these ETFs will likely outperform most investors.
My dollar portfolio i DCA with is made up of 30% NVDA, 25% SCHD, 15% VOO and over 30% in digital assets, thanks to my CFA. This strategy is what works for my spouse and I. We've made over 80% capital growth minus dividends.
Your advisor must be really good. How I can get in touch? My portfolio's decline is a concern, and I could use some guidance.
Sophia Irene Powell is the advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
Just wanted to say, ‘Carol Vivian Constable’, my CFA, is the real deal in his field. Dig deeper into her background; she's got years of experience and is a goldmine for anyone diving into the financial jungle!
Very informative, thank you I might consult you regarding my startup 😊
Hi. Thank you very much for the information you share. Can you make a video explaining the differences between LLC names and business name? Which one does the NAIC apply to and the virtual address etc? Also. In one of your videos, you said never swipe your personal card for business expenses and vice versa. What about things like virtual address and start-up fees if your business isn’t making money yet. Thank you
Should have been clear enough to articulate that “switching to an s-corp” means selecting to be treated as an s-corp for tax purposes while still being an LLC. It is not about switching the actual entity structure.
BTW, there is an entire video that covers that.
Just subscribed! I have a video you NEED to make. I’m a tax accountant of 3 years now and am super worried about a possible flat tax rate and simplyfing the tax code like crazy. Chamath Palihapatia and DOGE have discussed this. Would love to hear your thoughts and how our profession would continue in this situation!!! Thanks for all you do!
really useful video, thank you for sharing
Hello. I have a question. How/ am I maintaining anonymity with my LLC, If I file the same time as my W2 taxes?
So would you advise not to use a personal credit card for business? I want to gain the points and don't want the annual fee as an over head since I already paid it on the personal side
It is best to use a business credit card for business. You risk co-mingling expenses when trying to reimburse your business from your personal credit card. I’ve seen Amazon offer business credit cards for new & existing companies. They make the application process easy….visit them.
Thank you, as always, very helpful.
How much are/ what percent is the regular income taxes? And is the 15.3% taken from the income from the entire year or from each deposit?
Clear & concise thank you
Awesome video thank you 🎉.
This should be taught in high school
Why would the schools teach you about that? Its designed for you to fail
$1MM is no longer enough to retire even in a LCOL area. Should definitely start expanding our horizons...
I'm 37 and have been looking for
ways to be successful, please
how?? find additional sources of income; thus, I am looking at the stock market to fuel my retirement goal of $3 million
I want to compliment you, you have said it all. I am a little business owner and I really want to expand my business to the next level by making myself an investor but I really don't know how to go about it..
Assets that can make you rich
*FX
*Btcoin
*Stocks
*Gold
*Real estate
Venturing into crypto as a newbie was very difficult due to lack of experience which resulted in loosing funds... But miss harriet dixson, restored hope shes a good woman
$750k biweekly changed my mindset and behavior, my goals, my family and l've to say this video has inspired me a lot!!!!❤..
If I paid myself 35% of Net Profit from my LLC, would this be considered a reasonable Owner’s Draw?
Thank you so much!!!
Frequent changes in the tax code are making it challenging to maintain my long-term investment strategies. Are there ways to structure my portfolio to be more resilient to potential tax adjustments?
In my view, the U.S. needs a comprehensive overhaul of its political system. The fact that Trump and Biden were chosen to lead out of 300 million people highlights the flaws.
Wrong on the self-employment tax: 12.4% only until the social security max,; thereafter 2.9% - half of which total is a above-the-line tax deduction in the owner's personal income tax return (and note that an additional 0.9% tax may apply, depending); Second, while a solely owned LLC might be described as a pass-through entity, it would be more accurate to describe it (as it usually is) as a disregarded entity - for federal, and generally state, income tax purposes the entity doesn't exist apart from its owner, i.e., it's existence is disregarded. Put differently, there is no income tax difference between a sole proprietorship and a solely owned LLC (unless of course a election is made to treat the entity as a corporation). In addition, switching to an S corp is no panacea and contrary to your assertion is certainly not necessary at any point in time; moreover, your statement that an S corp gives you better control over your finances is simply patently absurd, the requirement to pay your self a salary, with the attendant payroll tax reporting and payment obligations is either a headache or an additional cost, there is the additional obligation to file federal and state income tax returns and if necessary for the entity to borrow money (typically with full recourse to the owner) to fund losses, the losses so funded won't be currently deductible.
Other than the forgoing I have no problem with your video.
On the money 🔥
@@MockManor I was checking out my email spam and found something from Karlton Dennis where he refers to the Internal Revenue Code as the "IRS tax code" revealing his ignorance. There is no such thing as the IRS tax code, it is not the IRS' creation, it is the creation of the Congress (with the relevant President signing the legislation). No self-respecting, competent tax guy would ever refer to it as the IRS code. This guy is something else.
can you make a video on maintaining the coorprate veil?
Does a pllc make this info different?
Moving from LLC to S-Corp and hoping there is constant flow for salary
Thanks
Hey Karlton how do you turn credit cards into Cash?
Does this apply in both profit & non profit LLCs?
Thank you!
Can you do a episode on credit card debt and what to do to get rid of them. Should you transfer the debt to there cards. Please address this. I'm trying to get debt free of credit cards
I did this last year and it made life so much easier on tracking my finances because I’m terrible at check registers. Sadly, I have to withdraw almost of of it to live on. My taxes go into a savings account with higher interest. (Ugh then we have to pay taxes on that too wtf? Is there anything they don’t tax?) I put my expenses on a credit card I try to pay monthly. Biz has been awful the last few years. I hope someone gets into office tomorrow who cares about very small biz America.
I got more gray hairs this year for sure
Edit: I'm voting red team
Update AMERICA WILL BE GREAT AGAIN!!!!!!!
How does taxes work for C corporation compared to S corporation?
Will I get audited by IRS if I run payroll through LLC instead of converting it to S Corp?
No. But it’s kind of pointless
What if you have to put money back in your business bank account from your personal account to avoid the business account is not too low. Is this allowed
As far as the double taxation is concerned, if I use a payroll system (I.e. Gusto) to pay myself from the LLC. You’re saying I won’t have to pay taxes when I file (with my hubby) just my LLC will pay taxes??
great video
What kind of LLC do these rules apply to ? Cause there are 6 kinds of LLCs.
Thank you ❤
Who do I hire in my area to help me with this? I’m not lost but I feel I need guidance
Thank you
But how do you do it if you are an l l c or did I miss that part?
Hi Karlton
I would like to set up a meeting with you.
When and where should I pay these taxes?
Nice Nautilus
I’m watching your video very closely from last two years. I have a serious situation this year. I lost around $45k in Forex what should I do so I can get tax break for tax year 2024? Please respond me
If I own an LLC and my LLC made $1,000 Net Profit. I made a owner's drawing of $400. What amount is subject to Taxes by the IRS? The whole $1000 Net Profit OR only the $400 I withdrew as owner's distribution? Or the $600 Net profit that was left undistributed in the LLC?
The self-employment tax would be made against the net profit, the entire $1,000 in this scenario
What if you have full time job and also want to invest in business with someone.. any advise?
You can freely do so. Just form an LLC and start doing business. That simple.
What went wrong? Can you make a video about it?
Does this also apply to paying Employees? Paying them through checks/bank transfers/zelle
Paying your employees is an expense of the business. That reduces the profit of your business
I recently opened up an S Corp for my wife’s small business. Then I realized it should have been an LLC first! Is there anything I can do to fix it??
Yes, if the Corp has no appreciated assets. Though there are several ways to do it, they all result in a deemed sale of the corp's assets, thus producing taxable income to the S corp (and therefore to your wife). Of course, you can still do it if you wish to.
Hi I been having A LLC for 2 years for a small dj business, this 2 years i haven’t file any taxes or talk to a financial advisor? I didn’t know nothing about business people just told me to get an LLC now I am screwed
You are not. See an accountant to resolve the issue.
I put $4000 in my business to start it. How do i get it back when my business starts to sustain itself
I thought about sending an invoice to the business with all the charges that had occurred. That way I have a paper trail and documentation needed if necessary. But to be honest I'm not too sure if that would work but it seems plausible.
I did the same thing and here are the steps I took: I went online and got a template for a Loan Agreement and step by step filled in the pertinent information signed, dated and then notarized the agreement.
When the LLC has made a profit, then , according to the terms of the loan agreement, the LLC entity can write you a check for partial payment or full payment… once again, this will be according to the terms that YOU have specified in the LOAN AGREEMENT.
I hope this helps.😊
@leslieo.jordan6339 That's very helpful, but i already used the money in the llc without a loan or anything. i just put it in the account and transferred it to my personal account as a payback, im not making profits, yet anyway, i just needed my money back. im jobless and need that money now. My business uses a credit card because it got approved
@@leslieo.jordan6339 Duuuuuude Thank you!! I just screen shot it lol 😂
What happened if your business lose money didn't make no profit ?
You’re only charged taxes on profits so if you do not make a profit there is nothing to tax. So you would only pay taxes individually
You only get 2 years to show no profit and after the 3rd you are no longer considered a business
Disregarded LLCs don't have these issues regarding amounts
Thank you for the videos please go vote!! Trump/vance 2024
Nice
Awesome...
Invest in Bitcoin before retiring by diversifying across assets, allocating a small portion of your portfolio, staying updated on market trends, and considering long-term holding to balance risk and growth.
Many new tra-ders face challenges without proper guidance. I found success by learning from James Clark's expertise.
@@cr8zymichaelexactly that's why I always seek Mr J Clark's guidance in all I do 😊
@@cr8zymichaelexactly that's why I always seek Mr J Clark's guidance in all I do 😊
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
The real question is, how can my taxes owed be ZERO dollars or close to it? Tired of being robbed
I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market I'm grateful to Mrs Liam🙏
I am from Miami United State🇺🇸, The difference Mrs Lucy Mary Liam makes in my life is second to none it's definitely a life changing kindness. I really appreciate her effort in my life.
I invested $2,000 and the trade in one month making close to $20,000. I wonder where she got her analysis.
Seeing my broker talked on UA-cam, This was exactly how I got the recommendation about her for the past years. Hit $200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with $20k in July 2024
I'm from Brazil 🇧🇷 I and two other of my friends tried her immediately we testified her performing wonders.
Her good strategies of making large amount weekly profits for her clients are totally outstanding. Investing my $1500 with doubt and withdrawing $12,300 with happiness. I ❤️ you Lucy.
Your videos have been truly impressive! As one of your regular viewers, I've been following your content closely for a while now. I'm very interested in making an investment, but I’m still having trouble identifying the right opportunity to fully commit to. I would greatly appreciate any guidance or suggestions you might have in this area.>>
As a beginner investor, having a mentor to hold you accountable is crucial. Personally, I’m guided by Gregory Leo Cattel, a well-known crypto consultant. While I can't share much about him, I recommend searching his name online to find the details you need to schedule an appointment.
I started working with Coach Gregory Leo Cattel back in August, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.
Gregory Leo Cattel success can be attributed to his unwavering dedication to setting realistic goals, expertly navigating clients through complex financial landscapes while avoiding the pitfalls of unrealistic expectations.>
he appears to be well-educated and well-read. I ran a Google search for his name and came across his website; thank you for sharing.
Where's the best place to create my LLC.. I've seen so many different places online. I just don't know who to trust that's legit.
Pluz teach me sir🎉
I have my owner draws on. - sorry couldn't resist -I will see myself out lol
Unbelievable i was thinking about it open youtube first video to see😮
🔥🔥🔥
👍👍👍
Waking up every 14th of each month to $210,000 it’s a blessing to I and my family… Big gratitude
Sounds like a dream, any advice? What industry did you get into?
Can you be my tax guy?
You forgot to mention one additional step which is after
You get an EIN you must register with the state / city you have opened the business. ❤
Irs get their cut so that they can use my money to provide grants for drag queen events in Ecuador 😅😅😅😅 15% geez
Wooow
first viewer and commenter
First
Great work and love the way you explain everything so everybody can understand. Thanks a lot. Keep up the good work. 🫵🏽