Your guidance is valuable and appreciated. Yet I confess that I enjoy the comedy wrought by landscapers and contractors almost as much, regardless of the country you're in.
Jim, grateful as always for all the time you invest in helping us! Could you please do a video on the proper way to pay/receive funds back & forth between your LLCs in a holding-subsidiaries structure (each are multi-member LLCs)? How does a parent LLC properly give its subs funds? How does a disregarded sub properly funnel money up to it's parent LLC? How are these cash movements officially recorded for taxes and financial statements for both sides?
Do I HAVE to have a separate “Owner’s pay” or “Owner’s distributions” bank account to pay myself out of? Since I have the paper trail via checks and carbon copies to prove those transactions in the account are Owner Withdrawals, can’t I just run everything out of my business checking account and not have a separate account? The only members in the LLC are myself and my wife, if that matters. Thanks for all of your advice! You have been incredibly helpful in all of your videos.
Your guidance is valuable and appreciated. Yet I confess that I enjoy the comedy wrought by landscapers and contractors almost as much, regardless of the country you're in.
Love the background sounds
Hahahahaha 00:41 never take these out. 😂 authenticity>edit
Jim, grateful as always for all the time you invest in helping us! Could you please do a video on the proper way to pay/receive funds back & forth between your LLCs in a holding-subsidiaries structure (each are multi-member LLCs)? How does a parent LLC properly give its subs funds? How does a disregarded sub properly funnel money up to it's parent LLC? How are these cash movements officially recorded for taxes and financial statements for both sides?
Thanks Jim for the helpful information. Blessings and peace to you and your family.
Thanks for the informative video. Sounds like I'm on the right track. I hope those workers finish quickly! 😳 Blessings!
New subscriber. Thanks for so much helpful info. Great video
Awesome video
That was funny. I enjoyed that show.
Do I HAVE to have a separate “Owner’s pay” or “Owner’s distributions” bank account to pay myself out of? Since I have the paper trail via checks and carbon copies to prove those transactions in the account are Owner Withdrawals, can’t I just run everything out of my business checking account and not have a separate account? The only members in the LLC are myself and my wife, if that matters.
Thanks for all of your advice! You have been incredibly helpful in all of your videos.
Answered your question on my recent live stream!
Thanks, what about if it’s a single member foreign owned LLC? Where would you pay taxes?
There is a separate form you must complete and tax return to file in the US. You may also owe taxes in your home country.
@@jimhart
Thanks for writing back, I’m organizing a few things and as soon as I’m done I will contact you for some help 👍
Does an owner draw get taxed
Not in the same way that a salary is taxed, but yes.
Thank you for the information