We have a S- Corp in Florida and its only my husband & I that are owners. Our accountant that has been doing this for over 30yrs said we do not have to file FUTA tax (reemployment tax) renamed from unemployment, since if we lost our business, the state isn't going to pay us unemployment, the IRS rep agreed and we have been doing this whole time we have been in business 2002. I am going to attempt to use a payroll company to do our payroll and tax/form submitted, will have to see they didn't understand why we weren't paying the FUTA tax when we get a w2 at end of year. What is your take on this?
@@ladieesc0 Hi Ama! sorry, I just saw your comment -- I have a bunch of E-courses now. You can check them out here: www.bizschool.coach/courses ... you can buy them all too - I called it a Small Business MBA! :)
Awesome video...wish I would have seen it a few months ago! My husband and I formed an LLC as a partnership in Nov of 2019, I quit my job and now work full-time on this business and will not take a salary as there is no profit (yet). My husband continues to work at his full-time job. Can we still file our taxes as a Qualified Joint Venture (tax type) with 2 schedule C's rather than a 1065 K-1?
Hello, Your videos are great. But can you do one with combined incomes? Lots of people are working as employees with W-2's and have a small business(self-employed) on the side.
Excellent video. Could you please do a video on how to manage a Holding company? Advantages, disadvantages, how to move money between Holding and Operating company.
Yes! Real quickly -- a holding company is just what you are saying the business is for (and you should be following that more than people sometimes do). It uses the same legal and tax business types that I explained in this video. It's not it's own type of business. So, in that regard, it's the same as I said in this video -- you want to keep everything separate from the owner and say two LLC businesses (1 a holding company and 1 an operating company). The most important thing is 1) following the states rules where the business operates, 2) keeping separate books and records and 3) no co-mingling of funds. I have been meaning to do a video on this. If you provide some more details about your specific situation/what you are thinking about doing, I'll answer your situation/question directly.
@@businessfinancecoach I understood a husband and wife starting an Umbrella LLC would be considered a multi member LLC and default to be taxed as LLP Form 1065 schedule K1. If you are trying to stay anonymous on you Umbrella LLP, wouldn't a k1 disclose the names of the members? Is it possible to keep the holding company LLP anonymous? If so, How?
I'm planning to do a partnership with my girlfriend for our business but I'm not sure if I should do general or llc? I've heard with LLC we would get taxed higher, is this true? Hope to hear from you soon!
If I would form a LLC with my brother for a trucking company can we choose to be taxed as a sole pro . or would we have to be taxed as a partnership? Or would we be better off registering our company as a general partnership and file taxes as a partnership? Thank You
Yes - I'm doing a Tax Act series for partnerships and s-corps, but they get a bit more complicated so I'll probably be doing a live workshop on that. There's a series on the software I recommend for individuals and SMLLC/self employed/contractor businesses (freetaxusa) and some on Turbotax (even though I don't recommend them:) ua-cam.com/play/PL6RQXhWqnQGH_TWMVgF4ba5ddEEIrHHL8.html
Question. So I formed my company, Herby Distribution in California in 2018, It is an eCommerce business I formed it as a DBA however I did get an EIN number as a sole proprietor on the IRS website. I My question is, considering I have about 20 companies that I will execute in due time one by one, I created a corp name called www.RestoringHumanityIncorporated.com I am wanting to establish that here in Oklahoma where I am currently at, After forming that officially, either an S.Corp or LLC, unsure, however after forming that, I would like to add my previous/current company as a subsadairy company under the Restoring Humanity, this is where I also would like to add the other business's when it is time. Do you have any advice or suggestions on how to go about this in the best way possible?
![4 TAX SAVING STRATEGIES--How To Pay Yourself From Your Business [Part 2] LLC vs. S-corp vs. C-corp](http://i.ytimg.com/vi/vb8O6K9XoeU/mqdefault.jpg)
![Do I Need an LLC to Start a Business? [What Type Of Business to Choose & When to Form It]](http://i.ytimg.com/vi/fAIeg8GlQ6Q/mqdefault.jpg)
You have a gift for conveying complex information in an easy to understand way, something many 'experts' on UA-cam can't accomplish. Thank you.
I am supplementing my college business classes with your videos. Your explanations are much more clear than the textbooks 🤓
This is one of the best videos on UA-cam! You made complex information easy to understand. Thank you!
Love your informative videos. You transmit a strong and supportive attitude and I appreciate the knowledge that you share.
Great video. She just answered what I've been searching for in last 2 weeks. Thanks a lot!
wow your really great i just watched one of your videos and i ended up watching almost all
Thank you Amanda your way in presentation awesome 100% understandable
Thanks for simplifying that for me great video. Great presentation, Great presenter, you can't pay for better information. Thanks
Thank for your video you make it easy to understand!!👍
We have a S- Corp in Florida and its only my husband & I that are owners. Our accountant that has been doing this for over 30yrs said we do not have to file FUTA tax (reemployment tax) renamed from unemployment, since if we lost our business, the state isn't going to pay us unemployment, the IRS rep agreed and we have been doing this whole time we have been in business 2002. I am going to attempt to use a payroll company to do our payroll and tax/form submitted, will have to see they didn't understand why we weren't paying the FUTA tax when we get a w2 at end of year. What is your take on this?
This is a great summary of some basic key points I needed to understand so much more! Your Small Business MBA course was worth every penny!
Thanks Lynn! PS..we are adding everyone from past groups to the new 2020 courses shortly!
@@businessfinancecoach what course is this?
@@ladieesc0 Hi Ama! sorry, I just saw your comment -- I have a bunch of E-courses now. You can check them out here: www.bizschool.coach/courses ... you can buy them all too - I called it a Small Business MBA! :)
Great Video! just curious, what happens if a single member LLC person is married filing jointly? does that change anything?
Great video sister! Thanks for sharing...and nice studio!!
Awesome video...wish I would have seen it a few months ago! My husband and I formed an LLC as a partnership in Nov of 2019, I quit my job and now work full-time on this business and will not take a salary as there is no profit (yet). My husband continues to work at his full-time job. Can we still file our taxes as a Qualified Joint Venture (tax type) with 2 schedule C's rather than a 1065 K-1?
Great Video... Really appreciate all the advice.
Very informative! Thank you!
Hello,
Your videos are great. But can you do one with combined incomes? Lots of people are working as employees with W-2's and have a small business(self-employed) on the side.
Hi Miracle! Can you clarify what you mean? I would love to make a video for you :)
Taking notes!! ✍🏿
Thank you so much! So helpful!
I love you classes I love you video it I learn so much from you thank you amanda
Quick question what kind of tax form must be used if i have a Single Member LLC (only one owner) and at least one employee
Excellent video. Could you please do a video on how to manage a Holding company? Advantages, disadvantages, how to move money between Holding and Operating company.
Yes! Real quickly -- a holding company is just what you are saying the business is for (and you should be following that more than people sometimes do). It uses the same legal and tax business types that I explained in this video. It's not it's own type of business. So, in that regard, it's the same as I said in this video -- you want to keep everything separate from the owner and say two LLC businesses (1 a holding company and 1 an operating company). The most important thing is 1) following the states rules where the business operates, 2) keeping separate books and records and 3) no co-mingling of funds. I have been meaning to do a video on this. If you provide some more details about your specific situation/what you are thinking about doing, I'll answer your situation/question directly.
@@businessfinancecoach I understood a husband and wife starting an Umbrella LLC would be considered a multi member LLC and default to be taxed as LLP Form 1065 schedule K1. If you are trying to stay anonymous on you Umbrella LLP, wouldn't a k1 disclose the names of the members? Is it possible to keep the holding company LLP anonymous? If so, How?
I'm planning to do a partnership with my girlfriend for our business but I'm not sure if I should do general or llc? I've heard with LLC we would get taxed higher, is this true? Hope to hear from you soon!
If I would form a LLC with my brother for a trucking company can we choose to be taxed as a sole pro . or would we have to be taxed as a partnership? Or would we be better off registering our company as a general partnership and file taxes as a partnership? Thank You
Great Information and easy to understand, clarified allot for me. Thanks!
You're welcome - thanks for your comment!
Great content!!!
LOVE the Braddah IZ vibes
Thank You! your explanation it helps me a lot......
I'm so glad, thanks for letting me know Flo!
Hello the video comparing Self Employed vs S-Corp tax isn't available. Did you deleted that video?
Could you do lecture about practical software in individual and business tax
I want to know how are software works !!???
Thank you
Yes - I'm doing a Tax Act series for partnerships and s-corps, but they get a bit more complicated so I'll probably be doing a live workshop on that. There's a series on the software I recommend for individuals and SMLLC/self employed/contractor businesses (freetaxusa) and some on Turbotax (even though I don't recommend them:) ua-cam.com/play/PL6RQXhWqnQGH_TWMVgF4ba5ddEEIrHHL8.html
What happens if you have a LC and taxed as a partnership. Your partner is your spouse
Thanks for another Great video!!
Thanks for watching and commenting!!
Question. So I formed my company, Herby Distribution in California in 2018, It is an eCommerce business I formed it as a DBA however I did get an EIN number as a sole proprietor on the IRS website. I My question is, considering I have about 20 companies that I will execute in due time one by one, I created a corp name called www.RestoringHumanityIncorporated.com I am wanting to establish that here in Oklahoma where I am currently at, After forming that officially, either an S.Corp or LLC, unsure, however after forming that, I would like to add my previous/current company as a subsadairy company under the Restoring Humanity, this is where I also would like to add the other business's when it is time. Do you have any advice or suggestions on how to go about this in the best way possible?
How about LLC?
great video
Aloha Amanda mahalos for the video
You’re good! :)
congratulation
You are very good at what you do. Very intelligent.
Will you marry me?💒
**Laugh face**