I LOVE LOVE LOVE your teaching style and your personality! The graphics are just very clear to understand. I hope you aren't breaking the bank creating them! haha In all honestly, I appreciate your videos in so many levels. My fiancee and I are starting our own business and your videos are giving us plenty of information that will help us ask specific questions to our attorney. I know that not everyone can afford to pay legal counsel or a CPA when starting a business. However, your videos give a clear understanding and help us conduct business with informed decisions. Again, thank you!
I just stumbled across your videos today. ..you are literally amazing!!! thank you so much for sharing...you are very. ..informative. ..funny and witty...I will watch them all over again tomorrow lol...also I love how your hair grew in your more recent videos...stay beautiful (inside and out) thanks again...
I have searched the interwebs and there is barely any content on this subject. Yet it is important for self funded businesses. Thank you. May I request you make an updated video.
Okay...I almost spit out my water with the graphic LMBO...that was absolutely awesome! I just found your channel...love your content and delivery! Thank you for sharing your experience and expertise. New subee :~)
If the startup contribution to an LLC is recorded as a loan and the business was subjected to a lawsuit does the lender/owner have priority over the plaintiff when it comes to reimbursement of said loan?
Someone told me if you own a sole proprietorship if you put a business advert sticker on your car then everytime you drive I the mileage is deductable on taxes. Does this sound right?
hello Aiden , been watching your videos for a couple days and just love the great info. question is , if I make member contribution to my LLC are there any guidelines I need to follow , or just deposit and record into the business records ? VERY VERY new to the LLC world... much thanks for any info and a great day to you and success always to your LLC.
when you are starting your business and don't have a business account yet, (it's in the process) how do you show transferring money from your personal account to pay for business expenses?
So if I transfer $1000 for start up purposes into my LLC bank account as a member contribution, how can I get it back? Can I withdraw (tranfser) it from the LLC once the company makes some profit or would it have to be a distribution and be taxed by state and federal as personal income? Can I write off that member contribution on my personal taxes? Your videos are great, thank you.
Say you are dissolving your business and you want to divide up the member contributions currently in the LLC's account back to the members who contributed, how do you do this? Is this considered payment, worthy of a payroll, or can you just take the money back out and redistribute it?
what if other people contribute to my LLC? Example.. I run a moving company (not really) and friend Joe thinks I'm really well. I convince him (or maybe he convinces me) that if he gave me money to repair or replace the truck with a bigger more reliable and fuel efficient truck then i could pay him some money every month. How would the money exchanged be recorded?
Thanks Aiden, your videos are great and really helpful! I love the way you break the information down very simply. BTW, love those graphics! Can I hire that designer!!?
Thanks for the video! Love the graphics. Can I do this retroactively? I've bought a lot of materials in the past for the LLC that I'm opening. Could I get the receipts and Count then as materials to build the prototype product that I'm building for my LLC ?
Hello Aiden, Does 'member contribution' to the business have to be recorded in the LLC documents book, and if so. under what heading. By the way great videos.
Ronald Outlaw Your state's laws may say something different, but generally speaking they CAN, but don't have to be, recorded in the LLC's internal documents. Typically they are incorporated into the Operating Agreement showing the contributions of each member. Thanks for the great question!
All Up In Yo' Business by The Law Office of Aiden H. Kramer, LLC Thanks for getting back to me. Your video series contains great information. Keep up the good work.
If you are asked about that "member contribution" by the IRS how do you prove it was in fact your money you invested in your LLC and not money you acquired from your business?
What's the easiest way to remove a member from an LLC that's does not want to be apart of the business and having no contact with the person anymore? I'm 51% owner and don't want to dissolve the business.
Helpful, but I have a next level question lol. How do I contribute say a price winning, like a car? I win a car, it’s worth x amount, yes I will use it as more than 50% business purposes. Instead of declaring current personal car to the llc, can i some how get a deduction through an llc by having won a car? Thank you 🙏🏽
where do you get that type of doc you would need to loan money as an investor to the LLC that could work without Piercing the corporate veil? I want to have my wife invest some money as a loan with interest and pay overtime since Im just starting out.This would. perfect but do you know if I would be able to be updated into dun and Bradstreet after the loan is paid?
On the operating agreement it has an inital contribution section, I paid out of pocket for my business. Do you need to write a specific amount ? Do you also have to have proof of personal funds used?
If an owner of a single member LLC provides his LLC with, say $1,000 member contribution to cover LLC expenses, does that $1000 count as income to the LLC?
Thanks for this video. My question is this...if i treat it as a member contribution, do i give a cheque, bank transfer or cash from my personal account to the LLC account and juat record it in my books as members contribution?
My contribution to my SM LLC was my broker account a few year back and I never completed my operating agreement then so doing it now. My question is do I use the value of the account as it was years back (date of incorp) or today’s value
Hey Aiden, I appreciate the video, I was wondering do I need to write a check every time I want to contribute money to my llc or can I just transfer to directly since my llc and personal account have the same bank ?
Hello, I love your videos! You answer most of my questions. Thank you! Here is a scenario I came across as a real estate agent. Guy wants to create an LLC with their family members and every month each family member contributes to the LLC until they have enough money to purchase a small property. My question is would the monthly contributions be taxed? Would they be able to purchase a home with a year long LLC? Thank you in advanced :)
@@allupinyobiz Hi, I love your videos. Can the member contribute crypto fund to the single member LLC to avoid paying capital gain tax on the crypto? Once the crypto is under LLC, it can be cashed out as a company entity without needing to pay tax, right? Thank you in advance.
What if I want to use my personal credit card ?wouldn't be better to do as loan?I would try to recover at least some of the fees and interest I would incur.
Hello! Thank you for the video and mind-blowing graphics! Can you please help me to understand how do I handle my "inventory loan" to the company? So I am am Amazon seller, non-US resident (I am from Ukraine). I had my Amazon account in 2021, but only in 2022 I did registered as LLC. So at the moment of the LLC registration I already had some inventory at my Amazon account. It was my inventory loan to the LLC. I know that money loans are not tax-deductible, so I can NOT put in my expenses loan repayment if it were money. But what about inventory? If I can not put in the expenses the cost of this items, it will mean my profits will be not real, it would be like if I sell goods that I got for free. Can I put in my P&L expenses repayment to myself for the inventory I loaned to my LLC?
My business is hurting right now, so I definitely need to contribute from my personal. So if I choose to right it as a member contribution. Do I just need to tell this to my tax person? Also when I do it with bank write in the note statement ( member contribution) right?
I know this is old but you are very helpful and quite easy to understand and pleasant to watch. Graphics are phenomenal, my mind is still blown LOL
I LOVE LOVE LOVE your teaching style and your personality! The graphics are just very clear to understand. I hope you aren't breaking the bank creating them! haha In all honestly, I appreciate your videos in so many levels. My fiancee and I are starting our own business and your videos are giving us plenty of information that will help us ask specific questions to our attorney. I know that not everyone can afford to pay legal counsel or a CPA when starting a business. However, your videos give a clear understanding and help us conduct business with informed decisions. Again, thank you!
I swear, I could watch and listen to Aiden all day. She is so smart and thorough.
so knowledgeable
Love that you're teaching me like I'm 5 years old lol It's actually pretty helpful
Hahaha 😂
Yessss. We need it broke down
One of my teacher once told me, “if you’re confused about something go on the internet typed what you are confused about and type for kids”
@@Sr_iRL Sounds like a wise person
Hope you learned at least at that level !!!
Me and my roomate just started a 2 member llc and have been making loans to it in order to have spendable capital. This was a great vid :) thanks
I love ❤️ her 😍 she is sooooo helpful one of the few people on UA-cam that actually gives you useful practical information. 🔥🔥🔥🔥🔥💯
You are a blessing. Thank you for the videos. God Bless!
great videos!
She totally is! 💖
Clutch. I've been looking for "personally buying things for the business" answer fo hours. Thank you
Thank you for making me less ignorant about all this. And the graphics were a visual bliss,
May God bless you and your business 1000 fold. You really helping a lot people
I just stumbled across your videos today. ..you are literally amazing!!! thank you so much for sharing...you are very. ..informative. ..funny and witty...I will watch them all over again tomorrow lol...also I love how your hair grew in your more recent videos...stay beautiful (inside and out) thanks again...
Aww...🙂Ditto!
You make learning about boring stuff really fun! lol thank you
Adorable!!! And exactly what I was looking for, to a T. Thanks Aiden!
How incredibly helpful your video is. I enjoyed it and learned from it. I transferred $100 from my personal BOA Checking to my business LLC Checking.
I have searched the interwebs and there is barely any content on this subject. Yet it is important for self funded businesses. Thank you. May I request you make an updated video.
Okay...I almost spit out my water with the graphic LMBO...that was absolutely awesome! I just found your channel...love your content and delivery! Thank you for sharing your experience and expertise. New subee :~)
If the startup contribution to an LLC is recorded as a loan and the business was subjected to a lawsuit does the lender/owner have priority over the plaintiff when it comes to reimbursement of said loan?
Love her advice one of the few people that actually gives useful and practical information. 🙏🏾💪🏾✅
This woman is sumn else...minds blown!!!! Graphics!!!! Too funny very nice video
I love your personality 💖 such a beacon of light, breath of fresh air very informative thank you so much!
Yes she is!!!!!!
Thank you so much babe. This answers my question even though I live in Canada. Cheers.
When I tell you I love those expensive graphics!! Those graphics won me over to subscribe! We must have the same graphic designer lol.
Thank you so much for your help
Thank you for your graphic designers department for this fantastic depiction, and your succinct explanation. This helped a lot! Cheers! 🤠
also the high-end graphics were worth every penny!
THANK you! Glad they're being appreciated. :-)
graphics were great! haha
Hope you wrote off the expenses for the Graphics Artist. 😉😉
Great advice. Very clear.
Such enjoyable and educational videos💎💙. And excellent high tech graphics lol!👍Thanks so much for sharing!🙂 You're help us a lot!
Thanks Aiden, I keep coming back to your videos.
Someone told me if you own a sole proprietorship if you put a business advert sticker on your car then everytime you drive I the mileage is deductable on taxes.
Does this sound right?
Thank you for exposing this so effectively! Super helpful !
Thank you for the informative video!!!! Love the “expensive” graphics🤣😂🤣
Very informative. You never disappoint! Thank you for sharing.
investment = (loan+interest) ?
I’m so thankful for all your videos
hello Aiden , been watching your videos for a couple days and just love the great info. question is , if I make member contribution to my LLC are there any guidelines I need to follow , or just deposit and record into the business records ? VERY VERY new to the LLC world... much thanks for any info and a great day to you and success always to your LLC.
Salute to the graphics department. Amazing job
Brains beauty & humorous personality🙏🏽 I instantly started crushing!.... o Yes I forgot; thank you for the information!~
I Love your Cartoon presentation. Thank you, for your honest. I really need hear this.
Great information, thank you. Very cute graphics also her briefcase matched her outfit!..👍
when you are starting your business and don't have a business account yet, (it's in the process) how do you show transferring money from your personal account to pay for business expenses?
Did you ever find the answer to this question?
So when you open a business account at my bank you have to open it with $50. This is also a member contribution?
Yes, that $50 can be your member contribution.
Thank you for this question! And answer lol
@@allupinyobiz How is this paid back to the owner?
This video is awesome and the graphics! Well, I was definitely blown away.
Do you recommend creating a new LLC for each company I own or create one LLC and DBAs for each one?
Hot girl you nailed it. That was the answer I've been looking for the whole day watching 100s of videos
So if I transfer $1000 for start up purposes into my LLC bank account as a member contribution, how can I get it back? Can I withdraw (tranfser) it from the LLC once the company makes some profit or would it have to be a distribution and be taxed by state and federal as personal income? Can I write off that member contribution on my personal taxes? Your videos are great, thank you.
Say you are dissolving your business and you want to divide up the member contributions currently in the LLC's account back to the members who contributed, how do you do this? Is this considered payment, worthy of a payroll, or can you just take the money back out and redistribute it?
Sounds like a question one should direct to a CPA or tax attorney.
what if other people contribute to my LLC? Example.. I run a moving company (not really) and friend Joe thinks I'm really well. I convince him (or maybe he convinces me) that if he gave me money to repair or replace the truck with a bigger more reliable and fuel efficient truck then i could pay him some money every month. How would the money exchanged be recorded?
recorded as a loan to the LLC
Thank you! Love your high tech graphics!
Thanks Aiden, your videos are great and really helpful! I love the way you break the information down very simply. BTW, love those graphics! Can I hire that designer!!?
such great stuff!
Thanks for the video! Love the graphics. Can I do this retroactively? I've bought a lot of materials in the past for the LLC that I'm opening. Could I get the receipts and Count then as materials to build the prototype product that I'm building for my LLC ?
Hello Aiden, Does 'member contribution' to the business have to be recorded in the LLC documents book, and if so. under what heading. By the way great videos.
Ronald Outlaw Your state's laws may say something different, but generally speaking they CAN, but don't have to be, recorded in the LLC's internal documents. Typically they are incorporated into the Operating Agreement showing the contributions of each member. Thanks for the great question!
All Up In Yo' Business by The Law Office of Aiden H. Kramer, LLC Thanks for getting back to me. Your video series contains great information. Keep up the good work.
If you are asked about that "member contribution" by the IRS how do you prove it was in fact your money you invested in your LLC and not money you acquired from your business?
I laughed so hard when you showed the picture I had no idea that’s what it was gonna be 😭🤣🤣 great video
How do you categorize contribution from 1 business you own to another start up business that you own, without wanting to categorize it as a loan?
I mean, the art though, I’m impressed! 🤣❤️
What method should you transfer the money to the business? Checks, or cash and etc..?
either works!
What about charging to a personal cc? Bad idea? And how would you pay back the cc?
What's the easiest way to remove a member from an LLC that's does not want to be apart of the business and having no contact with the person anymore? I'm 51% owner and don't want to dissolve the business.
did you sign your operating agreement when you formed the LLC?
Very helpful but how to get your investment back without taxing it?
What about taxes? Do you get double taxed? or can you write it off on either example?
For a member contribution do I just go to the bank and deposit the cash? Is there anything else I have to do?
I'm new to your channel and the content is well received. Thank you.
And would it work the same way vice versa; in terms of you borrowing from your business? (Not a member distribution or payout)
Thank you for sharing this. Was sound advice.
I came just for the graphics :) Thanks for sharing this info.
Love the humor and advice. Thanks for the video.
Helpful, but I have a next level question lol. How do I contribute say a price winning, like a car? I win a car, it’s worth x amount, yes I will use it as more than 50% business purposes. Instead of declaring current personal car to the llc, can i some how get a deduction through an llc by having won a car? Thank you 🙏🏽
This video absolutely rocked you made it so clear thank you God bless
where do you get that type of doc you would need to loan money as an investor to the LLC that could work without Piercing the corporate veil? I want to have my wife invest some money as a loan with interest and pay overtime since Im just starting out.This would. perfect but do you know if I would be able to be updated into dun and Bradstreet after the loan is paid?
I mean, you can find it on the internet...but it's better to get it from a lawyer!
On the operating agreement it has an inital contribution section, I paid out of pocket for my business. Do you need to write a specific amount ? Do you also have to have proof of personal funds used?
If an owner of a single member LLC provides his LLC with, say $1,000 member contribution to cover LLC expenses, does that $1000 count as income to the LLC?
do you plan to have the LLC pay it back or no?
Cheers to the “real” graphics team! 👍
Thanks for this video. My question is this...if i treat it as a member contribution, do i give a cheque, bank transfer or cash from my personal account to the LLC account and juat record it in my books as members contribution?
Ill graphics. I see you are using Leonardo AI for them. On point!!!
My contribution to my SM LLC was my broker account a few year back and I never completed my operating agreement then so doing it now. My question is do I use the value of the account as it was years back (date of incorp) or today’s value
By the way thank you for the video information
2023 Still all up in yo business.... Thanks much!!!
Love your sense of humor
very helpful video. graphics did their job and more !! thank you.
Let’s say I start a Photography LLC. I already own equipment that I would use for my business. Would I sell/donate that equipment to the LLC?
I have a question my question is when doing a seler
Hey Aiden, I appreciate the video, I was wondering do I need to write a check every time I want to contribute money to my llc or can I just transfer to directly since my llc and personal account have the same bank ?
Which document should reflect a member contribution? Is it just part of the P and L ?
hahaha.. love the graph! I was expecting a lot more.. but it blew me off the water haha
Hello, I love your videos! You answer most of my questions. Thank you! Here is a scenario I came across as a real estate agent. Guy wants to create an LLC with their family members and every month each family member contributes to the LLC until they have enough money to purchase a small property. My question is would the monthly contributions be taxed? Would they be able to purchase a home with a year long LLC? Thank you in advanced :)
+Arthur Grigoryan member contributions aren't considered income and would not be taxed.
@@allupinyobiz Hi, I love your videos. Can the member contribute crypto fund to the single member LLC to avoid paying capital gain tax on the crypto? Once the crypto is under LLC, it can be cashed out as a company entity without needing to pay tax, right? Thank you in advance.
Omg it’s 2022 this was so informative ty
Great educational videos, but your personality is on point! lol Great stuff!
What if I want to use my personal credit card ?wouldn't be better to do as loan?I would try to recover at least some of the fees and interest I would incur.
Thank you for the video and information. If we do the loan is important to get it notarized?
Can I set up weekly member contributes throughout the life span of my S-Corp was already formed and started up?
So what you're saying is, in the case of a loan, the taxes paid on loan and interest would be the same as a distribution?
How do I record capital contribution if money sent by my friend to my business account? I am SMLLC.
Can you put your payroll in your business account as a member contribution to begin
What about child support and single member llc?
Hello! Thank you for the video and mind-blowing graphics! Can you please help me to understand how do I handle my "inventory loan" to the company? So I am am Amazon seller, non-US resident (I am from Ukraine). I had my Amazon account in 2021, but only in 2022 I did registered as LLC. So at the moment of the LLC registration I already had some inventory at my Amazon account. It was my inventory loan to the LLC. I know that money loans are not tax-deductible, so I can NOT put in my expenses loan repayment if it were money. But what about inventory? If I can not put in the expenses the cost of this items, it will mean my profits will be not real, it would be like if I sell goods that I got for free. Can I put in my P&L expenses repayment to myself for the inventory I loaned to my LLC?
Question Aiden, when I sign the loan that I'm agreeing to with my sole proprietary llc. do I need to have that notarized?
Does it matter whether it is cash or check being contributed? Do you classify it in your person records when and how much was contributed?
Cash, check, doesn't matter. It is all the same!
Thanks for the good clear video and the top notch graphics :)
Great video!
agreed!
My business is hurting right now, so I definitely need to contribute from my personal. So if I choose to right it as a member contribution. Do I just need to tell this to my tax person? Also when I do it with bank write in the note statement ( member contribution) right?
Great video!!! Very Informative. Thank You!
How do these differ when it comes to filing taxes?