How To Pay Yourself In An LLC With Karlton Dennis

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  • Опубліковано 27 вер 2024
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КОМЕНТАРІ • 491

  • @karltondennis
    @karltondennis Рік тому +209

    Thank you so much for having me on Mark! Looking forward to more collaborations and helping taxpayers save money!

    • @julienaudet9782
      @julienaudet9782 Рік тому +11

      I was shocked to see you all together...........I have followed Mark for a few years and found Karlton about a year ago. Love both. Mark gives a lot more info, but Karlton is good social media guy.

    • @accountantreviews7002
      @accountantreviews7002 9 місяців тому +6

      Thank You so much to you both for helping us understand better on how things work. You both are amazing.

    • @mr.vip317
      @mr.vip317 8 місяців тому +3

      I love this episode.

    • @victorhinderman2479
      @victorhinderman2479 8 місяців тому +3

      Two of the best "Mad Tax Scientists"

    • @DrDre.
      @DrDre. 8 місяців тому +2

      How can I join Karlton Firm as a client. I didn't see a link for him in the description

  • @SpaPartyCentral
    @SpaPartyCentral Рік тому +40

    Novo Bank, Relay and QuickBooks all have "profit first" systems to allow you to set percentages for the income to be divided up upon deposit. It's really a game changer.

    • @hotfeva9843
      @hotfeva9843 7 місяців тому +2

      Which would you recommend overall?

    • @eiba6528
      @eiba6528 7 місяців тому +1

      How this work?

    • @T20timez
      @T20timez 4 місяці тому

      How does quickbooks work?

  • @ProofOfWorkFitness
    @ProofOfWorkFitness 7 місяців тому +53

    Thank you for including a dollar amount at which to switch from an LLC to an s-corp.
    $40,000 to $50,000 of profit and knowing that it's going to cost a few thousand dollars was valuable information, thank you

  • @TAWNishMedia
    @TAWNishMedia 10 місяців тому +50

    I’m a w-2 wage earner and ran everything out of one bank account until I learned to do business differently. I didn’t learn this in college. It should have been introduced in high school. Now I can share with others as far as what info to look in to. I don’t want other business owners to be ill-informed as I was.

    • @christopheroberry2500
      @christopheroberry2500 4 місяці тому +1

      This was very informative. Keep up the good work and it's great advertising for the both of you ! I will definitely get deep into me bookkeeping and be in touch !!!

    • @d1greatsmith675
      @d1greatsmith675 Місяць тому

      ​@@christopheroberry2500099o99oooooo what I am looking ooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo[oop o888o 9oil o888o 0pp9000 o888o o0 990feet oo9990009o9 😅😅😅goop I OP oo9 p ploloop po 09lol 99990 o888o😊😊9😊0😊😊😊😊😊99 o888o😊😊😊lp😊😊o 8😊😊😊😊 and 0😊9999ppp09999 oi0 po😊😊😊😊

  • @gloriamitchell3518
    @gloriamitchell3518 Рік тому +13

    The dynamic duo, very powerful. Do more of these diverse collaborations. Brilliant.

  • @j.jessup8023
    @j.jessup8023 8 місяців тому +6

    Statement of Information in California is super easy to complete online. It costs $25. Do it yourself annually.

  • @jameswiggs9655
    @jameswiggs9655 Рік тому +13

    Two of my favorite financial tax advisors together...More of this please! Much appreciation to both of your efforts in helping people make better decisions. 🙏

  • @TruSkoob
    @TruSkoob Рік тому +44

    Loved it. My two favorite tax experts. So glad you guys joined forces like Voltron. Keep dropping knowledge bombs!

  • @HealthFlexor2728
    @HealthFlexor2728 Рік тому +25

    Great content!! These two are a force to be reckoned with!
    Karlton just shines every time he opens his mouth, and Mark dishes out gold on the legal side!
    Thanks to you both! Waiting for more from you two!

  • @LGDavis-xn6ni
    @LGDavis-xn6ni 3 місяці тому +3

    All I can say is that I was supercharged,
    watching this chapter of your show!
    You all should do a series of them. Thank you in advance.

  • @wholesomenesstv
    @wholesomenesstv Рік тому +4

    I advise my clients on this same thing when it comes to Bookkeeping. Take the time to understand the nitty gritty before handing it over to someone else. If there is a material misstatement or overcharge, the bookkeeper might miss it, but if you understand your business numbers, you will catch it.

  • @deezel365
    @deezel365 3 місяці тому +2

    Gentlemen, this is very very informative; thank you so much for sharing all these important information. Please do more of these.
    Thank you again, so much.

  • @JairoValdez-c8f
    @JairoValdez-c8f 8 місяців тому +4

    I’m thinking of start my LLC this year(2024) and this is soo help full!! Thank you guys!!

  • @LisaSpeaksTruth
    @LisaSpeaksTruth 7 місяців тому +11

    I have been needing this information for three years!! Thank you gentlemen!

  • @skatershelley
    @skatershelley 5 місяців тому +4

    That's exactly where I'm at, comment at 11 minutes owing a little, on a payment plan, bouncing around UA-cam. Classic.

  • @Greybuiltracing
    @Greybuiltracing 7 місяців тому +3

    This is a must watch for all hustlers

  • @ZillaFullBoost
    @ZillaFullBoost Рік тому +6

    Dynamic duo. Both of you have helped me save money with my youtube channel the last two years. Thanks!

  • @wango556
    @wango556 3 місяці тому +7

    I simply stood up my S-Corp and hired ACP for $20 a month and they did everything for 10 years. Including W-2’s, quarterly taxes, paperwork with the state, etc

    • @dahliapurvey9498
      @dahliapurvey9498 3 місяці тому +1

      Were did you hire a CPA for $20 per month
      I am in the state of New Jersey

    • @anxhelamusta5651
      @anxhelamusta5651 2 місяці тому

      What is an ACP ?

    • @ms.cashmoves
      @ms.cashmoves 2 місяці тому

      What is a acp? I'm new to this game.

    • @conniewoods8896
      @conniewoods8896 2 місяці тому

      What is an ACP? Where did you hire it?

    • @JuanGelogo
      @JuanGelogo Місяць тому

      I use a payroll company they charge 30mth plus 7 per employee after first 1. They include all the filings. Does help alot

  • @GregoryHorsfall-r9y
    @GregoryHorsfall-r9y 9 місяців тому +2

    This is fire. Life altering for us who are pursuing freedom.

  • @sealspable
    @sealspable 4 місяці тому +1

    I thought of Carlton when I listened to Mark for the first time, and here they are. I couldn't have asked for better collaboration.

  • @GaryB33
    @GaryB33 8 місяців тому +4

    Great info, you guys are a great tag team. I'm a first year LLC businesses owner and needing to hear this. Thank you

  • @DCD11
    @DCD11 4 місяці тому +1

    A must read is Profit First to learn how to allocate revenue within your business.

  • @Amp424
    @Amp424 Місяць тому

    Yeah, it’s awesome to see KD with Mark Kohler!!🔥🔥

  • @NextLevelKatyTx
    @NextLevelKatyTx 4 місяці тому +1

    I love this. Please continue this collaboration. This page has helped me as a business banker to understand and give my business owners things to talk to their CPA'S about

  • @tammybooth5279
    @tammybooth5279 7 місяців тому +3

    You guys are absolutely wonderful! Thank You so much for the taking the time to patiently teach everyone how taxes work. Slowly becoming less complicated topic for me. ❤

  • @JElknih
    @JElknih Рік тому +4

    MOST DEFINITELY do this many times again in the future! (Both Mark and Karlton) FANTASTIC information, gives me a road map for the future :)

  • @mrmedic2012
    @mrmedic2012 6 місяців тому +2

    This was absolutely AWESOME! I'm in the planning stages of my first business and this information was invaluable! Thank you both! Subscribed!

  • @cathycrayton1524
    @cathycrayton1524 Рік тому +3

    My 2 favorite tax strategists ❤

  • @jbontregor6717
    @jbontregor6717 9 місяців тому +3

    This was a very enlightening interview. I’m really happy you guys could get together. You should do this more often. Thank you.

  • @janiscustomizedbusinesssol2649
    @janiscustomizedbusinesssol2649 3 місяці тому +1

    Great collaboration! We’d definitely love to see more!

  • @iramcc409
    @iramcc409 Рік тому +5

    This was a great video! You guys did an excellent job. I hope to see you two collaborate more often. Thanks!

  • @shellielindley1183
    @shellielindley1183 11 місяців тому +2

    MY TO FAV GURU'S ON STAGE TOGETHER! AWESOME

  • @Armenhanmer
    @Armenhanmer Рік тому +2

    My two favorite youtubers. I can't beliueve you guys did a collab!!!

  • @dedikmaroz
    @dedikmaroz Місяць тому

    Absolutely amazing show, thanks

  • @mikeschwendeman4403
    @mikeschwendeman4403 8 місяців тому +3

    Your explanation of this subject is super easy to understand. Thank you fellas🤙😎

  • @sebastianramirez6362
    @sebastianramirez6362 Місяць тому

    We the people need more of this content.
    Thank you, son, much for all you do for us.

  • @scottmeyer8255
    @scottmeyer8255 Рік тому +3

    Loved this. I started following both of you as I started looking into buying a business, and I have learned so much from both of you. You two make a great team and flow very well together.

  • @loonietoon98
    @loonietoon98 4 місяці тому +1

    Hey you just Got a new subscriber, been following K.D. for some time now and have learned much from him and continue to learn. Seen some of your short but never followed but um here now. Looking forward to learning more with both of you. Really appreciate the knowledge 👊🏾

  • @Jay-es3vm
    @Jay-es3vm Рік тому +2

    I have watched you both separately. It was great seeing you together! Great info and advice.

  • @ICP-Crusader
    @ICP-Crusader 3 місяці тому +1

    Outstanding! Keep up the tag team 👊

  • @torvlogs7390
    @torvlogs7390 16 днів тому

    This was a wonderful collaboration🎉 easy to digest as a newbie!

  • @SeeItHere
    @SeeItHere Рік тому +5

    Perfect combo!

  • @RyanHenderson-ck7cy
    @RyanHenderson-ck7cy 4 місяці тому +1

    Yes you right I don’t have payment for my self

  • @JenS.-sc3rg
    @JenS.-sc3rg 4 місяці тому +1

    Daily is great with me! ❤

  • @norvellatastytopia1687
    @norvellatastytopia1687 29 днів тому

    Wonderful presentation and nice collaboration.

  • @aghugg5921
    @aghugg5921 5 місяців тому +1

    Great work guys on such a wonderful topic 😊

  • @danielledavis7686
    @danielledavis7686 23 дні тому

    Thank you … love the info being shared … I am setting up my business and want the structure done correctly

  • @PrimordiaMycology
    @PrimordiaMycology 4 місяці тому +1

    Fyi. I did the research because i ha e three Ca operating Llcs and had to do the required "Statement of Information" filings. I actually was surprised the information that is needed only pertains to the Manager/Members which is interesting because you can state the Manager not necessarily need the Member(s) very important! So technically the agent for service of process is additional but not at all as invasive as I personally imagined. Ps. Loved the content I regularly watch both channels and would love to meet or at least converse via phone. I am the son of Real Estate Broker and have extensive knowledge of Entities! But always believe the best education is at the foot of and Elder. Tha k you both for the knowledge its the least i could do it provide you both information that is directly from my experience filing this Statement of Information the State of California requires. Fun fact needed it to open a new bank account. Kust had the EIN letter faxed and was told the Statement of Information was not required to open said account. Ps. The cost of filing said Statement of Information was only $25. So thought you both could appreciate my deligence.

  • @ningold4199
    @ningold4199 Місяць тому

    Loving the tag team 👌

  • @willjtravels
    @willjtravels 22 дні тому

    Thanks for the information guys. It helped me a lot!

  • @valariethomas2334
    @valariethomas2334 7 місяців тому +1

    Dynamic Duo! You guys are awesome!

  • @kevinmace
    @kevinmace 5 місяців тому

    Great stuff! I fall right into that $75,000 on my W-2 and making $100,000 in my LLC. Now I need to find an accountant. 😅And I absolutely love the tidbit about having a board of directors.

  • @DrClarenceBrownIII
    @DrClarenceBrownIII 7 місяців тому +1

    You both are absolute GEMS! Thank you so much for sharing this priceless information!

  • @lindas.6082
    @lindas.6082 5 місяців тому

    What an amazing collaboration! I enjoyed this and wish I would have known sooner about you two! The breakdown of all this is simple and easy to understand!

  • @CdotForbes13
    @CdotForbes13 Рік тому

    Please do this more often. I am learning so much. I prefer to pay the government the least amount I am allow.

  • @EBMB21
    @EBMB21 9 місяців тому

    Loving Carlton! He’s amazing and very inspiring.
    Thanks to both!!
    Happy 2024!🎉🎉🎉🎉

  • @DonnellFaulcon
    @DonnellFaulcon 5 місяців тому +1

    Thanks to you both. Awesome.

  • @angelicaaddeo
    @angelicaaddeo Рік тому +1

    Please do this again
    So helpful!

  • @Mymeours
    @Mymeours Рік тому +1

    Please do more of these! Thank you ☀️☀️

  • @tiadowe
    @tiadowe 4 місяці тому

    I have been learning from Karlton and I really like you guys together!

  • @Divine1Right
    @Divine1Right Рік тому +1

    Subscribed. Thanks for keeping it real Mark.

  • @bizsetup8275
    @bizsetup8275 11 місяців тому

    It's a great idea to hear different takes from two different backgrounds. Great session!

  • @chriss2352
    @chriss2352 Рік тому

    Two of my favorite tax UA-camrs. Love it

  • @BP-BABL
    @BP-BABL Рік тому +1

    Love the collab.

  • @SweatyHours
    @SweatyHours 5 місяців тому

    This tag team is amazing please do it often

  • @RyanHenderson-ck7cy
    @RyanHenderson-ck7cy 4 місяці тому

    Funds for LLC is capital Bank

  • @Kellishelton
    @Kellishelton 5 місяців тому

    Yes WAY more :) I am trying to learn and love listening to the tidbits to make sure I keep out of trouble but within making the money :)

  • @iankingston196
    @iankingston196 Рік тому +13

    Thank you for simplifying LLC and scorp and how to 0ay yourself. Thank you Mark and Carlton. You really simplified how it works!

  • @Peaceandprofit2024
    @Peaceandprofit2024 3 місяці тому

    Awesome information, you two bring great value together!

  • @ELIMindfulInvestor
    @ELIMindfulInvestor Рік тому +2

    Thank you two.

  • @Sofia..x
    @Sofia..x 8 місяців тому

    what a great collaboration! wisdom and experience from Mark & new insights & flare from Karlton -- i agree, mindset is key!

  • @CoryBoudinot
    @CoryBoudinot 5 місяців тому

    Paper and water..... is the most of what I spend on and need on a basis when I'm out....... Even while paying somebody else or something else

  • @wompol7117
    @wompol7117 9 місяців тому

    every other week at least, guys! fantastic pair!

  • @RyanHenderson-ck7cy
    @RyanHenderson-ck7cy 4 місяці тому

    You are talking straight up I like that way you talk straight up 😊

  • @jeffmccreary9379
    @jeffmccreary9379 7 місяців тому +1

    Dynamic Duo for sure! Since the LLC is 💩 for many folks, could you and Karlton do a deep dive into late S Corp election relief in Rev. Proc. 2013-30? Applicability, reasonable cause, blah, blah, blah?

  • @shivanandkalipersadsingh9014

    Love it. This is exactly what I advise my clients. I would like to get more involved with Advisory and expand avenues for different income streams.

  • @anthonycrawford6791
    @anthonycrawford6791 7 місяців тому

    Truthfully I use to listen to you gentlemen separately and thought you guys should Definitely team up. I appreciate you both and all the useful information. Very useful.... Lets get some more of these videos please.

  • @j.r.3215
    @j.r.3215 Рік тому

    You 2 make a real good tag team of financial wizardry.

  • @diane8784
    @diane8784 7 місяців тому

    Still loving this Tag team Mark & Karlton👍👍👍.... I had finish watching your video day #2. It's all good!

  • @firefliflihi5719
    @firefliflihi5719 8 місяців тому

    Just want to say you guys are super awesome and you guys have good vibes. This is my first time watching a video about this I'm getting ready to register my LLC this year and I have a friend who's also wanting to do the same thing, and you guys have really positive advice. And this is great first emfo and I like your voices I try to watch several videos and their voices were so annoying. I couldn't even and you also seem like you're very educated and knowledgeable. So if thank you, and it's lining up from what I've read online myself so far through several legal websites and also the Florida trademark registration, whatever it's called website.

  • @teralecole316
    @teralecole316 Рік тому

    Ooh yes! My 2 favs YT’s. The combo I very much needed.

  • @timotaneous3300
    @timotaneous3300 8 місяців тому

    Sweet analogies throughout the whole hour. Enjoyed the tag team very much.

  • @living2ezze917
    @living2ezze917 Рік тому

    Loving it! More is good. Tag team it baby!

  • @keithhowes5692
    @keithhowes5692 9 місяців тому

    Loving this! Have a consultation next week with Karltons team and I can’t wait.

  • @karlaatherton
    @karlaatherton Місяць тому

    I don’t understand, I believe the accountant said that as an LLC - Partnership (multi-member), we should issue each of the owners a paycheck where taxes, are withdrawn so that perhaps down the line we can claim unemployment, disability, etc.
    Our net profit was 90k on 2023

    • @darleneallen9354
      @darleneallen9354 23 дні тому

      Maybe you should also review the S-Corp portion of the presentation. I hope that will help you.

  • @RyanHenderson-ck7cy
    @RyanHenderson-ck7cy 4 місяці тому

    You are are going straight

  • @robertperez6801
    @robertperez6801 7 місяців тому

    You guys are the best, I love digging into the nuggets you dole out, keep up the great work!

  • @thinji81
    @thinji81 5 місяців тому

    love it love it love it! Just subscribed to both of you guys and looking forward to more informative content

  • @hassanzorome7497
    @hassanzorome7497 18 днів тому

    Nice duo I hope you get together soon.

  • @changclifton786
    @changclifton786 4 місяці тому

    Great team! i am starting out, and this info is golden! Thank you both!

  • @kendrake-nz7vf
    @kendrake-nz7vf 6 місяців тому

    Both you guys give great commentary and advice. Would love to see you both on future videos.

  • @Ridesharfacts
    @Ridesharfacts 2 місяці тому

    Definitely subscribing

  • @reonwatching
    @reonwatching 10 місяців тому

    Great job guys, very informative and a good easy-to-understand format. You make a good team, 2X synergy for the viewer/client.

  • @Angela-ju2mk
    @Angela-ju2mk Рік тому

    Wow, so interesting and fun and useful! Enjoyed your collaboration.

  • @needhelp9699
    @needhelp9699 6 місяців тому

    Tax bills we can help you to discharge those bills there is no problem how much you owe. You should not be affraid with those bills

  • @Cindikrebs
    @Cindikrebs 2 місяці тому

    You have to have money to take a check book

  • @Macafotografa
    @Macafotografa 2 місяці тому

    Thank you so much!

  • @Vic_RE_Investor
    @Vic_RE_Investor Рік тому

    This was great! Had to watch it twice. 👏👍

  • @alexissuazo3122
    @alexissuazo3122 10 місяців тому

    Thanks for sharing this information. It very informative and helpful for a small company owner.

  • @JavierMcIntosh
    @JavierMcIntosh 4 місяці тому

    Great video. Very entertaining and informational