How To Pay Yourself As An LLC
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- Äas pĆidĂĄn 10. 05. 2021
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Enrolled Agent Karlton Dennis has seen everything in the game, using his knowledge to take advantage of his tax-return every year to write-off some quite luxurious items. The thing is, ANYBODY can do this! How? Find out on today's Taxes Made Simple!
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*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
#taxes #taxfreeliving #taxexpert #taxreduction #llc
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Why do I see this same post word for word under different names on CZcams comments? ( Josue Perez)?
IF THIS HAD BEEN TAUGHT IN MIDDLE OR HIGH SCHOOL I CAN'T IMAGINE WHERE WE WOULD BE RIGHT NOW !
I remember having a consultation with a financial analyst last August, and it was incredibly insightful. Canât stress enough how helpful experts in this field are!
My colleagues had a good laugh at me when I told them I started my journey with $5k capital and how I accumulated over 5 figures within a span of 7 months. They never believed me until I pulled out my P&L.
As long as you diversify your portfolio, any single stock or investment that you own shouldnât have too much of an impact on your overall return. If it does, diversifying might be the right choice for you, as one can also try out other commodities. I now have a balanced portfolio that is yielding me profit thanks to guidance from Jonas W. Herman.
Thatâs awesome! Iâve been contemplating hiring one since I canât get a hang of investing even after buying courses. Iâd like a discussion with him. Any means to reach him?
Hermanw Jonas (a Gma!L comm
Is he taking commissions for his services? Yes, Iâm I still making money in the process. Most definitely!
Thanks for the advice, both of you. Itâs reassuring to hear positive experiences.
I feel more confident about moving forward with Herman now. I just shot him anemail. Thanks for sharing your
With landscapes shifting, new regulations have been passed that have impacted my investing plan negatively but with Jonas coming into the picture, I have been able to rebalance my portfolio in such a way that I'm making great ROI. It's awesome how a âlittleâ shift can make a huge difference!
I drove my first car in my dad's name and later went to get a truck in mine after I paid off my first one and drove off the lot with the truck I wanted, its mostly about a good credit score and a loan portfolio helps as well...lenders like to see various forms of loans in your name to be less of a risk and yes you might have to put money down but not HALF of the car loan Your exactly right I screwed my credit as a young man now I own a detailing company and can't get anything with out the full amount of cash. I'm working on my credit to get better with *850 CREDIT RESTORATION* , Love the knowledge keep it up
Thank you so much for your inspiration! I have traveled a similar path, 2 college degrees, multiple jobs including credit problems. I am now 65 years old and have found my purpose in life. Currently in the process of starting my own business. May God continue to bless you and May He continue to bless *850 credit restoration* for me for every successful deal we conducted
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
Keep buying cash bro
Make sure youâre making a minimum of 40-60k PROFIT before switching to an s corp. You donât want to pay 10k to save 5k
I tried to talk to a SCORE mentor that has created and sold 4 companies, and I asked him about switching to an S-Corp and he said there was no reason to, because if you get sued they will still just come after you not your company...and that's all he said. He didn't bother explaining any of this. You made it so clear when and how and why. Thank you. The lucky few who make it to your channel, who, like me, don't have a mentor or parent to teach them any of this; we are grateful that you put in the effort to make this and help the rest of us do better for ourselves. You are doing great work and helping change the lives of people you may never know. THANK YOU
đđthanks for saying everything I was thinking đ.!!
That. All of that. â€
Talk to a former business owner (SCORE mentor) and they tell you 1 thing. Talk to an accountant and they tell you another. It's up to you, as a business owner, to utilize your resources for their strengths, and ask the right questions to the right people. Next time have a game plan for the meeting and do some research before hand. You'll talk much more intelligently and be much more productive. It's your business and all the responsibility is yours. Good luck, Simon!
Out the SCorp into a trust
Did we not forget the name 30k at 7.65% to your scorp $28k tax
I have 2 chapter 13âs that are dismissed. The reason I have 2 is bcz I did not use an attorney. I was trying to stop an eviction, but when I went to try to add another monthâs rent to the bankruptcy, but the guy filed another one. About a month later, I ended up losing my job. They are scheduled to fall off in January and March 2021. Since Iâm looking to purchase a home soon but still there. I am currently enrolled in *850CREDIT RESTORATION* and I m
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Love the energy! Glad I found this recommendations! Everything you say is 900 million % so true and correct!
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To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isnât good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Thats true, I've been getting assisted by a coach for almost a year now, I started out with less than $120K and I'm just $19,000 short of half a million in profit.
@Dan Brooks Big Credits to 'Christine Jane Mcleanshe has a web presence, so you can simply search for, there are some others but it might be difficult to get them, but Christine as been a good guide through the year.
Invest and stay in for the long term. Highs and lows come and go but youâll always be better off than if you just sat on your money.
Just a tip. Set-up a SMLLC Subsidiary underneath a SMLLC Parent. Leave the Sub as a natural LLC, and elect to treat the parent as an S Corp. This will help you down the road if the business ever grows enough to take on Private Equity or other co-investment, or even sell outright...nobody wants to co-invest in or buy your S Corp, trust me. Keep all licenses, contracts, assets, employees, and other aspects of your business at the Sub level.
đ€đ€đ€Very interesting perspective (that I've never heard before) indeedâŒïžđ€đČđŠWhen you structured it, who did you use to do your paperwork? A lawyer? A template from a registered agent? I shut down a newly formed business back in May simply bcus I didn't know how to fill in the template information for my SMLLC putting my million dollar dream on indefinite holdđ«Its not as simple and easy to do as it is made to seem. It's very overwhelming, expensive & intimidating when you don't know what you're doing!
Good Points!
Yes!!! Thank you thank you thank you for explaining that!!! Oooh thank you!! I understand perfectly now!! Yippee!!!
Excellent info, very concise and easy to understand, and this clarifies a subject that many other videos miss the mark on in their well-intended attempts to educate. I will definitely be watching more of your content. Thank you so much.
There's an error here. When you have an S corp, you still have to pay 15.3% payroll tax/SE tax. It's just that as an individual, you pay 7.65% FICA, SS & MC but then the S corp has to pay an additional 7.65% in payroll taxes. Add 7.65% + and 7.65% and you get . . . 15.3%.
Plus, as an S corp, you will need to pay unemployment and workers comp insurance as well. And you can't deduct one half of your SE tax.
The main advantage to the S corp is that you'll only pay the 15.3% on your wages instead of the entire business income.
Also, if you are an Uber or Lyft driver, you do not receive a wage. You receive business revenue which will be used to calculate your business profit or loss on schedule C.
Really ? Buts it's still.worth the change right
@@camillramirez it is worth it if you are making enough "extra" money beyond what a reasonable salary would be. With s-corp you need to officially pay yourself a "reasonable salary" and that is what you pay employment tax on. The IRS is kind of hyper aware when you are s-corp status so that you can't get away with paying yourself a $10,000 salary when it should be a $60,000 salary. But if you CAN pay yourself a reasonable salary and your business is pulling in like... at least $10k on top of your salary, then you're likely in a position to benefit from the tax savings you'd get with an s-corp. If not... stick with an LLC.
The tax savings on a S Corp applies only to social security/medicare taxes that are NOT paid on s corp bottom line net income which passes through to. the shareholder's personal tax returns.
â@@crarls27great info
Thanks, for pointing out errors. Great info
That was very thorough, encouraging and well thought out. Thank you for putting this together and I look forward to what I will watch next.
Omg....thank you so much. Seeing my accountant in a few days and needed a clear understanding. Thank you for breaking this down in a very understandable way. Much appreciated đđ»
I remain amazed and grateful that information this valuable is available for free. Thank you, Mr. Dennis!
I'm really trying to level up my business this year, and your channel is great for consuming info.
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I dunno⊠I was one of those people that didnât care about a credit score, didnât get any education about how important your credit score is, and I racked up debt like an idiot. I worked really hard and educated myself and Iâve brought my credit score from 480 to 690 and Iâm still going up with *850CREDIT RESTORATION* . I feel like the government blaming credit reporting companies instead of the lack of financial education in their own public education system is foolish.
I drove my first car in my dad's name and later went to get a truck in mine after I paid off my first one and drove off the lot with the truck I wanted, its mostly about a good credit score and a loan portfolio helps as well...lenders like to see various forms of loans in your name to be less of a risk and yes you might have to put money down but not HALF of the car loan Your exactly right I screwed my credit as a young man now I own a detailing company and can't get anything with out the full amount of cash. I'm working on my credit to get better with *850 CREDIT RESTORATION* , Love the knowledge keep it up
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
Finally someone who breaks it down quick and simple. Ty for the info. This is awesome. Great job!
As I am setting up a new S'Corp, I have seen a lot of videos to make sure I am accounting for taxes for payroll and distribution correctly. This by far was the most easy to understand and through video.
Thank you so much for your inspiration! I have traveled a similar path, 2 college degrees, multiple jobs including credit problems. I am now 65 years old and have found my purpose in life. Currently in the process of starting my own business. May God continue to bless you and May He continue to bless *850 credit restoration* for me for every successful deal we conducted
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This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but *850 CREDIT RESTORATION* info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well
I get such GREAT service every time I go to the *850 CREDIT RESTORATION* and the IRS is SO wonderful to work with. I DEFINITELY want the Government in charge of my Social Credit Score! This couldn't possibly be misused in ANY way! All the data breaches that the VA has had makes me confident that my data would be TOTALLY safe!
thanks for this
thanks for this
thanks for this
You just gained a permanent supporter.. The way you explain things in detail.. GOLD bro
I just opened my OKC but havenât started the work yet. I am so glad I came Across your video! Iâve been self employed for a couple of years and itâs a pain! Iâm glad I found this before I messed it up! Thanks!
Bro youâre a life saver just started my trucking business 4 days ago and I run into this videoâŠ.. now I gotta make some changes thanks a ton!!!!!
I am just finding you and I can't tell you how grateful I AM! You went over and beyond the explanation and that is deeply appreciated! I have no idea if you are even gonna see this message, as it has been 2 years since you posted this! Wow! I subscribed and thumbs up on ALL your content. Thank you Karlton Dennis!
By far one of the easiest videos to follow. You took away the mystery of LLC vs. S-Corp and broke it down solid!
Brother, thanks for the info⊠Iâm teaching myself as I go; trying to run an LLC and understanding when to convert to S-Corp.. Really appreciate the good info you put out..
Oh I'm soo glad to know this here now! Thanks for your educating me on this!
God bless you brother. Im a realtor and Ive been trying to figure this out. Presented very well.
The breakdown here was very smooth and concise. Even when I got lost for a second, he picked me right back up and explained the information to the T. Thanks for this! Iâm trying to work these numbers for a business with a smaller revenue in Texas.
Good luck to you, I'm in Texas as well. I hope your business succeeds.
Try focusing more on landing a husband and kids like your counterparts....Kevin Samuel..
@@Rodwill18 Let me work on this business and continue to mind mine... not worry about finding a man, that was never in Godâs design. Not sure what message that comment was supposed to convey.
@@Rodwill18 Huh, what is that all about?
What part of Texas. Good luck on your business
Man, you just blew my mind! Just started my Llc and I didnât think about it like that. I need a class!
This is really really helpful as I start my own business for the first time. I'm grateful to know this in advance. I may have made some REALLY big financial mistakes otherwise.
Thank you for doing this video and I love your simplicity. Iâm starting my own business and this has helped me tremendously.
Thanks so much, I love the way you break it down and make it easy to understand. Looking forward to making enough money to change my LLC to SCorp!
I just started my business two months ago and started wondering about how the distributions and employment worked. so glad I found these videos, really learned a lot, thanks so much for the advice, will be s corping next year!
You are very thorough and detailed. Excellent work. Thank you for the information.
Karlton - I just recently switched over to an LLC. After speaking with my trusted CPA he told me to do EXACTLY what you are taking about in this video. Listening to this video was almost verbatim listening to my CPA. I like your content, I followed it well. I've decided to move to a S-Corp. Thank you very much. It's apparent you are good at what you do. I will be watching more of your content.
Geeesh! You are such a wonderful communicator! I wish learned this information years ago. Thank you for sharing your (quite literally, invaluable) knowledge with those of us who want to learn what you're willing to teach. Bravo!
Thanks for your pace of delivery.
Simple math and it works.
I know some buddies are doing this. It's all in understanding the legal tax code.
Thank you Karlton. I am going to subscribe.
Loved your break down vs. hearing from my professor! Ty
Fantastic explanation of what my accountant has been telling me for months. You made it clear as a bell! THX
This content is amazing! This is EXACTLY the info i needed! More of this type of conetent please! You got my follow for sure!
Please make more content like this, you are a great teacher, its easy to follow, understand and learning the information because of the simple way you break the information down. I will you also teach about nonfprofit, the steps of how to start one and the tax side of it as well.
Amazing explanation and very genuine and straight forward lectures that they donât teach us. Very much appreciated thank you brother.
Wow! Such good info! I have an LLC, and had no idea. Thank you so much:)
This is amazing content. Just found your channel today. I will be studying! Continue to be blessed!
Well organized and very detailed and informative! Keep up the great work with such videos!
I instantly subscribed because you are informing business owners with quality content. Thank you.
This IS GOLD!!! Thank YOU!!!!
This is Content GOLD!! Ty!!
Love the ease of the presentation. Thank you. I am a Texas Resident, so it gives me some great info moving forward. A good place to start if nothing else, thanks again.
This was the easiest that Iâve understood these concepts after being explained them probably close to ten times
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Ten times read you wrote still don't understandđ€·đ»ââïž
@@felixandresjc indeed
Completely agree
@kerpal3 đ
This is the first video of yours that I have seen. I donât even know why I came across my feed I have liked and subscribed to your channel very informational. I plan to binge watch the rest of your videos.
Excellent video! Thank you for sharing. Keepâem coming, please!
Thanks for being upfront and transparent about LLC to S Corp.
I just started my LLC last year and this is my new favorite CZcams channel! Perfect timing thanks man! đđŒ
Thanks for such excellent and much needed info,you've done a great job breaking it to bite sizes. I'm about to set up my SMLLC and then switch it to SCORP. Yes! Thanks Karlton! God Bless You Sir! â€â€â€â€â€â€
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We are building a new home that unfortunately went into receivership, we contacted our lender who advised us to let them know before the interest-only on our loan came to an end, we did this 6 weeks before that date and we were advised by the bank that we were given another 2 months on interest only, but now they have taken full payments for interest and principal and said we have to apply for funds to finish our home which has now been taken over by another builder, we had contacted them and thy want us to pay rent of this mortgage, all due to no fault of ours, I was introduced to *85OCREDITREST0RATI0NđĄNET* who reverse this in no time for a little fee, he also helped clear our loan debts, we are forever indebted to him
wish everyone to achieve their goals, fulfill who they are meant to be, & succeed in life! Greetings from Los Angeles but don't be cheated and if you got cheated reach out to that dud!!
wish everyone to achieve their goals, fulfill who they are meant to be, & succeed in life! Greetings from Los Angeles but don't be cheated and if you got cheated reach out to that dud!!
wish everyone to achieve their goals, fulfill who they are meant to be, & succeed in life! Greetings from Los Angeles but don't be cheated and if you got cheated reach out to that dud!!
wish everyone to achieve their goals, fulfill who they are meant to be, & succeed in life! Greetings from Los Angeles but don't be cheated and if you got cheated reach out to that dud!!
Bro, youâre amazing the way you breakdown âïž
This was the best information that I have EVER come across. As a Financial Advisor I am always looking for people to support clients that have these issues and can explain what is going on without them "wasting" money with no results. I will definitely support this recommendation *Discreet Phase Resolution* to all of my clients when I see they have a financial issue. I have been hood winked by so many companies and people in this line of business and I am excited that theyre a team of integrity to actually help people
You should do the same
Chile lmao so many scammers here pls be careful ⊠inflation got the best of yall huh
Ducking bots
What about rolling 30k into an IRA, wouldn't that drop your tax liability as well? After 3-5 years you can pull from it and start diversifying your investment portfolio?
@repentandbelieveinJesusChrist8 Amen
I have been and llc for ten years and NONE of my CPAâs have ever explained it like that. WELL DONE !!! This information is priceless. THANK YOU !!
This!!! Its so much to learn with all of this!!! I'm here for it!
Repent to Jesus Christ
âDear children, let us not love with words or speech but with actions and in truth.â
ââ1 John⏠â3:18⏠âNIVâŹâŹ
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Exactly heâs great at explaining it.
Its really not.
Same here.
Watching this, I feel overwhelmed! There's sooooo much that goes into this opening and running a business and my fear of failing or doing something wrong continues to hold me back.
You got this! The good part of failure is learning from it, the hardest part is starting, after that it becomes fluid
Itâs alot..
Just take it one step at a time and don't try to do too many things at once. It takes some time but you'll learn it all. If I can do it, you can too. But no need to grow fast. Baby steps and you'll be fine. Just don't make a move until you understand what you're doing.
When youâre a business owner, you hire people to think and do things for you!!
@@hfortenberrythis comment is contradicting. At first you say take it one step at a time then you say donât start until you know what youâre doing.
Dang, booyah! Doing my homework as I set a plan to open my own business. Ty. I will be subscribing.
whole reason i was to come across your content. Looking at something possibly and your explanation was well executed. Will be watching more, thank you!
You had me at 12:19...The LLC vs S Corp, I've been trying to explain and break dow to a few people. You're 1000% correct about people learning things different ways. Thank you so much for putting this info out there. Very much needed and greatly appreciated.
This is easily the most valuable video on CZcams for the basics of this topic
You are the best teacher. Awesome!!!
Wow!! I've been so confused how this works. Thanks soo much for the simple breakdown!
It's good seeing a brother providing great financial information to the masses. Thanks!
You are such a weirdo
What does skin color have anything to do with lmfao
@@user-gc6vr7oy1o are you insinuating that because I called him "brother" that he is black? You're the only racist here. By the way, you're the only one to bring up race, racist
@@user-gc6vr7oy1o if that would was the case you'd be intelligent as well. I would call you Rain Man but we both know you're terrible with Mathđ
Yes! Iâm much more engaged in what heâs saying because heâs a representation of me and my family. đ€
@@lmwms1 FactsđŻ
Great content! I love how creative you are!
I love how you break down things Iâm going have every young person in my family watching you!
I have a bachelors degree in Business & I feel this video actually taught me more valuable information. & you make it easy to understand. Thanks!! Stay blessed!!!
Wow⊠Thank you for that! It was much needed! đđŒ
Thank you for the time and dedication you give in creating informative and comprehensive videos on tax related business matters. I really need to polish up on my bookkeeping skills đ
Iâm just say Iâm about 5:50 though this and youâve managed to answer my next questions.. simply explained, thorough, with visual description. This was a great video for someone as myself! You must have my subscription now! Cheers my man!
I was so impressed, I subscribed at 1:57
So grateful. I'm starting a business and I really don't want to make tax mistakes. This is such great content, easy to understand. Thank you for making this video.
So helpful and informative. Keep the knowledge flowing and pouring in our minds to our pockets. Thanks for ur diligence and time.
Love how you explain things you break it down so easy đ
Wow, you really made it clear to me the difference between LLC and S-Corp. You have saved me. I'm hiring an accountant. Thank you.
This video was the clearest and most understandable explanation of this topic that I've ever come across. It was truly awesome!
Love your content. What I especially love is how clearly you speak since English is not my native language, but you make it very easy to understand. Thank you for your service!!
Thank you for the info I just started my business im not trying to get lost in the sauce
Mr. Dennis youâve done it once again! You under sell and over deliver every time...no click bait over here, just PRICELESS CONTENT! Thank you for shining that light and being a beacon for up and coming small business owners, keep doing what you do, this channel will soon blow up đ„
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Starting my own business and your videos are so helpful, thank you!
Wow! You made this so simple. Thank you.
Thank you, sir, for this explanation. When I decided to start my own business, I did not consult an accountant or other financial expert in the business field, so I STRUGGLED through the process of becoming just an LLC. Now, based on what I'm understanding in this video, I should consider switching to an S-Corp to help me with taxes. My business is new and is not yet generating a huge net profit, but I will talk to a tax guy here locally and ask about switching to an S-Corp. Again, thanks for enlightening me on the pay consequences of both an LLC and an S-Corp.
This video is great! Everything is broken down simply & clearly. I recently formed a S-corp and have been floundering as to how to pay myself. Thank you!
I am a deck builder contractor in Connecticut. I dont have any employees. My question is. Can I hire sub contractor if a switch to S corp?. Thank you
@@javierpacheco9275 you can hire contractors even if you donât make S corp election. It would be your business expense in both scenarios
Thanks a lot that was a very informative video. I myself am trying to start an LLC or S Corp in the next couple of months this is the first video of yours that I watched and you taught me a lot I have subscribed to your channel and I'm going to check out the rest of your videos thanks a lot really appreciate it.
This is some awesome information. Thank you for being so through
Definitely subscribing. This was such a beautifully explained video. I usually get lost in videos like these but I was able to follow everything you said.
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This is amazing break down of how to structure the S-corp. Thanks for what you do. Can't wait to see more.
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Thanks, Karlton. Very informative.
This was the best explanation on this topic I have a heard
This made so much sense now and I definitely know nobody in the CZcams platform has explained it this well. Thanks for doing this! Just came across your first video here on my home page for suggested watch and now you gained a follower, subscribed.
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I have been looking for this answer for a long time!! Thank you. I just started an LLC. What you did not tell was (1) when to switch over to S corporation and (2) the proper way to give myself a distribution with an LLC. I'm still scared about paying myself and the whole comingling thing.
Even if youâre an LLC you get to choose to be taxed as an LLC OR a S Corp on a specific tax form
@@cedricary9633 You are the only person that I have seen in the comments that have a damn clue! The guy is give bad info and they donât even know it!! I mean why become a corp only to have a shit ton of rules to follow?
@@cedricary9633 I just asked a question, but I think you answered it.. Thanks
@@cedricary9633 Really? Even in California? What tax form is that?
@@tryancalmese6525 Can you choose to be taxed as an S Corp even if you have your LLC in California?
Awesome information man!! Thank you!
Incredibly informative
Our thinking really has an important impact in our lives but many people fail to understand this.
I have always have a positive thinking believing that one day I'm gonna be. Someone great.
Many people fail to understand that the More you fill your through with something positive, your life will become positive.
Many people don't have that self esteem, they don't believe in themselves.They always allow friends or relative to direct their thoughts.
When you start believing in yourself, you see that you will start achieving things that's seems impossible to you.
@@jameswalk7958 My greatest mistake was not listening to myself and Invested in Bitcoin.i was misleaded by my friends telling me not to do that it was of no value and just a waste of time but now bitcoin is one of the most profitable cryptocurrency now.
Love these videos! You and your channel are a blessing. Thanks Karlton!
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