How To Pay Yourself As An LLC

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3 жыл бұрын

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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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Check out these links Below!
Get Help Setting up Your LLC: betterlegal.com/?aff=07bef8e7
Learn How to Self Direct Your IRA or 401k: directedira.com/karltondennis/
*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

Пікірлер: 8 300

@kawannadixon4327 25 күн бұрын

IF THIS HAD BEEN TAUGHT IN MIDDLE OR HIGH SCHOOL I CAN'T IMAGINE WHERE WE WOULD BE RIGHT NOW !

@Willycheng590 2 ай бұрын

I remember having a consultation with a financial analyst last August, and it was incredibly insightful. Can’t stress enough how helpful experts in this field are!

@Willycheng590 2 ай бұрын

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 shouldn’t 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.

@Otieno358 2 ай бұрын

That’s awesome! I’ve been contemplating hiring one since I can’t get a hang of investing even after buying courses. I’d like a discussion with him. Any means to reach him?

@Willycheng590 2 ай бұрын

Hermanw Jonas (a Gma!L comm Is he taking commissions for his services? Yes, I’m I still making money in the process. Most definitely!

@Sammytammy192 2 ай бұрын

Thanks for the advice, both of you. It’s reassuring to hear positive experiences. I feel more confident about moving forward with Herman now. I just shot him anemail. Thanks for sharing your

@Miawilmore 2 ай бұрын

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 “little” shift can make a huge difference!

@eichment Жыл бұрын

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

@bossladybee8323 Жыл бұрын

😊😊thanks for saying everything I was thinking 💭.!!

@sanmiguelterritoriodeldogo742 Жыл бұрын

That. All of that. ❤

@PowerHouseWash 11 ай бұрын

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!

@Kangaruworld1 9 ай бұрын

Out the SCorp into a trust

@RH-nc8uu 9 ай бұрын

Did we not forget the name 30k at 7.65% to your scorp $28k tax

@josueperez870 2 жыл бұрын

Wealth is not just about finance, but health and wellness is critical especially in our black community! No need to have stuff and money if you don't have your good health? Rick Ross finally understands this truth now! What does it profit a man/woman to gain the whole world if you don't have optimum health to enjoy it all! Let change the mindset about the diet & wealth in the black community so we can all go up together! Above all things... I wish that you be in good health and prosper even as your soul prospers! God bless you brothers! and remember to use *850 credit restoration* for your bad credit and negative credit marks and inquiries removal

@itskb1443 2 жыл бұрын

Took a year for me to build my score from mid 400s to 600 where I’m stuck now. I have 2 credit cards, a self account, auto loan. Everything paid on time and utilization 5-10% paid off every month. Thinking of applying for a new credit card or something cause my score isn’t increasing Great recommendation, this helped me alot. *850 credit restoration* was one of the best things I had come across as far as boosting your score. I don't remember the actual number of how much but it was somewhere cool!!

@sylviehodonin8982 2 жыл бұрын

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@sylviehodonin8982 2 жыл бұрын

Love the energy! Glad I found this recommendations! Everything you say is 900 million % so true and correct!!

@sylviehodonin8982 2 жыл бұрын

Love the energy! Glad I found this recommendations! Everything you say is 900 million % so true and correct!!

@xtremeseniors 2 жыл бұрын

Why do I see this same post word for word under different names on KZbin comments? ( Josue Perez)?

@BurnerPhone1 Жыл бұрын

Make sure you’re making a minimum of 40-60k PROFIT before switching to an s corp. You don’t want to pay 10k to save 5k

@chrissprenkel 8 ай бұрын

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.

@surveytestmoney2550 7 ай бұрын

🤔🤔🤔Very interesting perspective (that I've never heard before) indeed‼️🤔😲🦋When 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 hold😫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!

@SteelerY360Nation 4 ай бұрын

Good Points!

@bluefamily3937 19 күн бұрын

Yes!!! Thank you thank you thank you for explaining that!!! Oooh thank you!! I understand perfectly now!! Yippee!!!

@abijahjames621 2 жыл бұрын

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

@angelcarter4723 2 жыл бұрын

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

@neomatrix4136 2 жыл бұрын

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!

@neomatrix4136 2 жыл бұрын

@leivaandre Жыл бұрын

Keep buying cash bro

@ComedorDelrico Жыл бұрын

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.

@camillramirez Жыл бұрын

Really ? Buts it's still.worth the change right

@crarls27 Жыл бұрын

@@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.

@semonebrisson2552 11 ай бұрын

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.

@charmainemendez4064 10 ай бұрын

@@crarls27great info

@charmainemendez4064 10 ай бұрын

Thanks, for pointing out errors. Great info

@JimButler1234567890 10 ай бұрын

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.

@billpaypetrus778 11 ай бұрын

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.

@mohdafroze8552 2 жыл бұрын

I have 2 chapter 13’s 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 month’s 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 I’m looking to purchase a home soon but still there. I am currently enrolled in *850CREDIT RESTORATION* and I m ust say, I am loving it thus far. I’m doubling it up with your podcast videos and learning A LOT! Thank you. I’m ready to join the millionaire club!!!

@sylviehodonin8982 2 жыл бұрын

Love the energy! Glad I found this recommendations! Everything you say is 900 million % so true and correct!

@sylviehodonin8982 2 жыл бұрын

Love the energy! Glad I found this recommendations! Everything you say is 900 million % so true and correct!

@sylviehodonin8982 2 жыл бұрын

Love the energy! Glad I found this recommendations! Everything you say is 900 million % so true and correct!

@sylviehodonin8982 2 жыл бұрын

Love the energy! Glad I found this recommendations! Everything you say is 900 million % so true and correct!

@sylviehodonin8982 2 жыл бұрын

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@debdo1960 Жыл бұрын

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 🙏🏻

@user-ep6dj8my9i 11 ай бұрын

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.

@michealwrubell4302 Жыл бұрын

To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t 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?

@Walter_hill_ Жыл бұрын

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.

@lipglosskitten2610 Жыл бұрын

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.

@lipglosskitten2610 Жыл бұрын

@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.

@pawlieblog7967 Жыл бұрын

Invest and stay in for the long term. Highs and lows come and go but you’ll always be better off than if you just sat on your money.

@Elizabethgreen779 3 ай бұрын

Karlton is beyond amazing. “How to create income flow”

@Elizabethgreen779 3 ай бұрын

Making money is action, keeping money is behavior and Growing money is knowIedge

@Elizabethgreen779 3 ай бұрын

I am fortunate I made productive decisions that changed my life forever (accumuIated over a MiI) through my finance-mentor. I'm a single parent, bought my house in January and hoping to retire at 52 by next year

@Elizabethgreen779 3 ай бұрын

sear ch the name, lf you care

@Elizabethgreen779 3 ай бұрын

*Rebecca Martin Watson*

@yung1448 3 ай бұрын

l’m amazed to partake on this, lt has rekindled the fire to my goals

@tomaitoe Жыл бұрын

I remain amazed and grateful that information this valuable is available for free. Thank you, Mr. Dennis!

@aluciat333 3 ай бұрын

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!

@loscoglass Жыл бұрын

I'm really trying to level up my business this year, and your channel is great for consuming info.

@kralkaktus7881 2 жыл бұрын

CREDIT LORD TOTALLY ROCKS.

@angelcarter4723 2 жыл бұрын

@hadejjas 2 жыл бұрын

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

@neomatrix4136 2 жыл бұрын

@julieK2870 Жыл бұрын

I just opened my OKC but haven’t started the work yet. I am so glad I came Across your video! I’ve been self employed for a couple of years and it’s a pain! I’m glad I found this before I messed it up! Thanks!

@etelvinarivera2094 Жыл бұрын

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! ❤❤❤❤❤❤

@itskb1443 2 жыл бұрын

I started working on my credit 2 years ago. I didn't know where to start I had no credit. I started looking up videos and found *850credit restoration* . I followed what you said and started with an secured credit card for 200.00 and mad sure to keep my utilization under 10% and paid on time every month. I now have 3 unsecured credit cards and a 757 fico score. Thank Danielle for all the information and tips. Now we are in a position to buy home.

@jasonwilson3727 2 жыл бұрын

I dunno… I was one of those people that didn’t care about a credit score, didn’t 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 I’ve brought my credit score from 480 to 690 and I’m 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.

@abijahjames621 2 жыл бұрын

@neomatrix4136 2 жыл бұрын

@michaeljohn3328 3 жыл бұрын

Our thinking really has an important impact in our lives but many people fail to understand this.

@zackyo370 3 жыл бұрын

I have always have a positive thinking believing that one day I'm gonna be. Someone great.

@elizabethtwomey681 3 жыл бұрын

Many people fail to understand that the More you fill your through with something positive, your life will become positive.

@jameswalk7958 3 жыл бұрын

Many people don't have that self esteem, they don't believe in themselves.They always allow friends or relative to direct their thoughts.

@jameswalk7958 3 жыл бұрын

When you start believing in yourself, you see that you will start achieving things that's seems impossible to you.

@christopherdavid8063 3 жыл бұрын

@@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.

@karinholmberg4253 Жыл бұрын

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.

@1camelrider 8 ай бұрын

Finally someone who breaks it down quick and simple. Ty for the info. This is awesome. Great job!

@huseyincetinler6891 2 жыл бұрын

I was able to get a possible judgment dismissed due to the help of credit lord wih the debt collection company saving me over $11,100.

@zohargross462 2 жыл бұрын

What if u in the highest bracket? And have few Buisness

@jmystigan 9 ай бұрын

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!

@nombusodlamini7298 6 ай бұрын

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 👌

@CruisePlannersFlorida Жыл бұрын

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!

@preranachakrabarti2021 2 жыл бұрын

@marinajerome2397 2 жыл бұрын

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!

@naky73able 2 жыл бұрын

thanks for this

@naky73able 2 жыл бұрын

thanks for this

@naky73able 2 жыл бұрын

thanks for this

@livingingreenvillenc6904 Жыл бұрын

God bless you brother. Im a realtor and Ive been trying to figure this out. Presented very well.

@locotx215 Жыл бұрын

By far one of the easiest videos to follow. You took away the mystery of LLC vs. S-Corp and broke it down solid!

@kellireece6348 3 жыл бұрын

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!

@lauratatum165 Жыл бұрын

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.

@bossladybee8323 Жыл бұрын

Man, you just blew my mind! Just started my Llc and I didn’t think about it like that. I need a class!

@chrismartini9602 2 жыл бұрын

I have been and llc for ten years and NONE of my CPA’s have ever explained it like that. WELL DONE !!! This information is priceless. THANK YOU !!

@iessex6713 2 жыл бұрын

This!!! Its so much to learn with all of this!!! I'm here for it!

@jesusislord6545 2 жыл бұрын

Repent to Jesus Christ “Dear children, let us not love with words or speech but with actions and in truth.” ‭‭1 John‬ ‭3:18‬ ‭NIV‬‬ O

@robinson2589 2 жыл бұрын

Exactly he’s great at explaining it.

@wakeybakey22 2 жыл бұрын

Its really not.

@lonewolf744 Жыл бұрын

Same here.

@mrmatrix654 Жыл бұрын

Thank you for your full focus on the job instead of focusing on proving yourself to others. You always tried harder to be better *The Encrypt Invest* and now your success speaks out louder. Thank you for a hard work. I’m sure it was worth it all. There is no doubt that you are the most deserving of all that should be given a shout out

@maryvasquez001 Жыл бұрын

You consistently bring your all and I truly appreciate that *The Encrypt Invest* . Thank you for making the corporate life so smooth. Proud to have you work for me. Great work as always.This is the beginning of many more good things to come. May you get everything, that you could demand. Best wishes in all you do and congrat to me as well, job well done!

@lindagrigsby8669 2 жыл бұрын

Thank you for doing this video and I love your simplicity. I’m starting my own business and this has helped me tremendously.

@WarriorsPhoto Жыл бұрын

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.

@briancutler4039 Жыл бұрын

This content is amazing! This is EXACTLY the info i needed! More of this type of conetent please! You got my follow for sure!

@ricardobrown9271 2 жыл бұрын

Amazing explanation and very genuine and straight forward lectures that they don’t teach us. Very much appreciated thank you brother.

@donaldcassidy1592 Жыл бұрын

Fantastic explanation of what my accountant has been telling me for months. You made it clear as a bell! THX

@CODAMAZEMENT7 8 ай бұрын

You just gained a permanent supporter.. The way you explain things in detail.. GOLD bro

@deezel365 Жыл бұрын

Brother, thanks for the info… I’m 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..

@marlahernandez9267 3 жыл бұрын

Wow! Such good info! I have an LLC, and had no idea. Thank you so much:)

@raulmichel7630 3 жыл бұрын

Loved your break down vs. hearing from my professor! Ty

@sassypawssalon Жыл бұрын

Love how you explain things you break it down so easy 😊

@puneet75 9 ай бұрын

Well organized and very detailed and informative! Keep up the great work with such videos!

@christopherparsons3224 Жыл бұрын

Thank you for this, I would've ended paying more in ignorance, as I intend to start a business someday. I can see why you are so successful; you have deep understanding of tax code and business models.

@yoshabelduprey6150 Жыл бұрын

Amazing explanation and thanks for the education on LLCs. I'm about to start my own small biz, and I need to get as much info on LLC forming that's overwhelming because I don't want to make a mistake. Following on IG as well. Keep informing and educating us.

@25-8 Жыл бұрын

What is your business going to be about?

@brianasullivan1121 2 жыл бұрын

I just started my LLC last year and this is my new favorite KZbin channel! Perfect timing thanks man! 🙏🏼

@j.acosta1001 3 жыл бұрын

I instantly subscribed because you are informing business owners with quality content. Thank you.

@iggygirlsballersclub7819 Жыл бұрын

You are very thorough and detailed. Excellent work. Thank you for the information.

@moisesrincon876 9 ай бұрын

Bro you’re a life saver just started my trucking business 4 days ago and I run into this video….. now I gotta make some changes thanks a ton!!!!!

@chrisp7622 3 жыл бұрын

This was the easiest that I’ve understood these concepts after being explained them probably close to ten times

@karltondennis6236 3 жыл бұрын

C,,,,O,,,,N,,,,T,,,,A,,,,C,,,,T F,,,O,,,R I,,N,,V,,E,,S,,T,,M,,E,,N,,T A,,S,,S,,I,,S,,T,,A,,N,,C,,E +1,,,,8,,,,4,,,,5,,,,,6,,,,,0,,,,,5,,,,8,,,2,,,,,, 2,,,,,,5,,,

@felixandresjc 3 жыл бұрын

Ten times read you wrote still don't understand🤷🏻‍♂️

@chrisp7622 3 жыл бұрын

@@felixandresjc indeed

@timantisz2529 3 жыл бұрын

Completely agree

@felixandresjc 3 жыл бұрын

@kerpal3 😂

@ForestRJ 3 жыл бұрын

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.

@davefortenberry366 9 ай бұрын

My wife owns her own Business, (Salon), and I dread Tax season every year. This information is incredibly helpful and appreciated. Thank you.

@Daniyellasings 2 жыл бұрын

I filled bankruptcy on a vehicle and when i did they put my motorcycle in with it since i was still paying on it but just found out it still shows on my credit that my motorcycle still has an open account with the finance company and says ive missed payments since last April, but its suppose to be under chapter 13 bankruptcy, I've went through some really tragic moments that damaged my credit but after meeting *85OCREDITREST0RATI0N🟡NET* , every negative items were deleted along with my BK Chapter 7, this changed my life and I am now in the 800 club with a clean reports and debt free. contact them using their website above for any credit problems. thanks a lot to this team

@helioespinal9077 2 жыл бұрын

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@josephaku1424 2 жыл бұрын

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!!

@josephaku1424 2 жыл бұрын

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!!

@josephaku1424 2 жыл бұрын

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!!

@josephaku1424 2 жыл бұрын

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!!

@squatchusmc9133 Жыл бұрын

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!

@stephenarnold8096 2 жыл бұрын

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.

@divinaflamingarrow9556 2 жыл бұрын

Thanks for being upfront and transparent about LLC to S Corp.

@donnaprobes7097 11 ай бұрын

I'm a SCORE mentor and I learned so much from this. I often get asked about the benefits of an S-Corp vs. a LLC. This really laid the figures out well. Thank you.

@monroethemsg4925 8 ай бұрын

What kind of mentor are you ? I been looking for a mentor for real estate and music business

@pchauhan4059 5 ай бұрын

And you are a SCORE mentor? LOL

@bravebear6975 4 ай бұрын

@@pchauhan4059 🤣😅😂

@brandonclark1119 Жыл бұрын

Oh I'm soo glad to know this here now! Thanks for your educating me on this!

@srinidhimoily3672 2 жыл бұрын

I don't consider renting passive income unless you have professional property management. Most people who rent don't count their time and effort needed just to make a tiny return on their massive investment. For example, you invest $599,000 to buy a second home and rent it out for $3000 a month. Let assume you are cash flow positive on the property and you make $1000 a month or $12,000 a year. What would your annualized return be? 2 percent on the entire amount. Now, you can argue that your return is much higher since you only put down $120,000 on the property. However, you are on the hook for the full $600k regardless of what the future FMV of the house is. Furthermore, people assume that their home will always appreciate in value however, this is a false assumption you can make. In the best case, you will gain some capital appreciation thanks to the central bank increasing the money supply, however, if inflation heats up, you can see your property actually start to lose money in real terms. This is because there is an inverse relationship between housing and nominal interest rates. The central bank will attempt to slow down inflation with higher interest rates and curb lending. We haven't seen inflation in a big way but we can see all the massive stimulus money that the government is pumping turn into inflation while taxes will be hiked to pay for all the COVID spending, your best choice is to look into support@ *PrismCryptoFunding🪐com* Its more profitable.

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@verdewolf 2 жыл бұрын

I’m just say I’m about 5:50 though this and you’ve 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!

@rmart1192 Жыл бұрын

I was so impressed, I subscribed at 1:57

@pat4005 6 ай бұрын

Thank you for this truly amazing informational video on this subject. 😊 You've clarified some things I wasn't sure about, and made sense of them. I had to rewatch the last few minutes to be sure I understood you correctly, but I think I got it now. My small business is set up as an LLC, and I see now that if I can successfully grow it next year, that implementing your S Corp strategy will be invaluable. When you said that we can still take distributions throughout the year, BUT we only need to do one payroll payout to ourselves at the end of the year, after we have a better idea on what our net income would be, then it all came together for me. 😊

@NaptownPete 7 ай бұрын

It's perfect timing to find your channel as I'm starting an LLC. You describe the S-Corp advantage perfectly!

@philipmoore9869 3 ай бұрын

Thank you

@courtneyhannah5062 2 жыл бұрын

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!

@javierpacheco9275 2 жыл бұрын

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

@IIIGoddessIII Жыл бұрын

@@javierpacheco9275 you can hire contractors even if you don’t make S corp election. It would be your business expense in both scenarios

@rashimalemia 3 жыл бұрын

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! I’m trying to work these numbers for a business with a smaller revenue in Texas.

@lloydhudson6463 3 жыл бұрын

Good luck to you, I'm in Texas as well. I hope your business succeeds.

@Rodwill18 3 жыл бұрын

Try focusing more on landing a husband and kids like your counterparts....Kevin Samuel..

@rashimalemia 3 жыл бұрын

@@Rodwill18 Let me work on this business and continue to mind mine... not worry about finding a man, that was never in God’s design. Not sure what message that comment was supposed to convey.

@lloydhudson6463 3 жыл бұрын

@@Rodwill18 Huh, what is that all about?

@aj9607 2 жыл бұрын

What part of Texas. Good luck on your business

@ShellyCreatesIt Жыл бұрын

Wow!! I've been so confused how this works. Thanks soo much for the simple breakdown!

@JanetJenkins Жыл бұрын

This is amazing content. Just found your channel today. I will be studying! Continue to be blessed!

@tomajohnson4014 2 жыл бұрын

Just what I needed to see. Perfect break down of it for me man. I’ve been trying to understand why the S Corp is better, but now I get it.

@jamessandman3730 3 жыл бұрын

I love how you break down things I’m going have every young person in my family watching you!

@williamsolomon1307 10 ай бұрын

Excellent video! Thank you for sharing. Keep’em coming, please!

@lamontdarnell6478 Жыл бұрын

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.

@kevinbacon9660 2 жыл бұрын

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.

@aijiexi 2 жыл бұрын

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.

@cedricary9633 2 жыл бұрын

Even if you’re an LLC you get to choose to be taxed as an LLC OR a S Corp on a specific tax form

@tryancalmese6525 2 жыл бұрын

@@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 don’t even know it!! I mean why become a corp only to have a shit ton of rules to follow?

@caronhagler9358 2 жыл бұрын

@@cedricary9633 I just asked a question, but I think you answered it.. Thanks

@alexrice8035 2 жыл бұрын

@@cedricary9633 Really? Even in California? What tax form is that?

@alexrice8035 2 жыл бұрын

@@tryancalmese6525 Can you choose to be taxed as an S Corp even if you have your LLC in California?

@robbieodum9345 5 ай бұрын

I'm planning on starting my business next year and this was some invaluable information. Well put together and well explained! Thank you!

@ejohnsonw 9 ай бұрын

This is the first video of yours that I have seen. I don’t 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.

@Bigjr0613 3 жыл бұрын

Thank you for the info I just started my business im not trying to get lost in the sauce

@thelentilhouse3718 2 жыл бұрын

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.

@heathersalomon 4 ай бұрын

This video was very informative, please keep them coming! Second video and already a huge fan.

@user-gs3vo8jr2q 5 ай бұрын

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!!

@merteryasar5545 2 жыл бұрын

CREDIT LORD TOTALLY ROCK

@justinmirche Жыл бұрын

Great content! I love how creative you are!

@JourneyWithinAwakenMinds Жыл бұрын

This is some awesome information. Thank you for being so through

@Suzannemarie1000 2 жыл бұрын

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.

@rsalas2292 3 жыл бұрын

This made so much sense now and I definitely know nobody in the KZbin 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.

@idris8498 3 жыл бұрын

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@idris8498 3 жыл бұрын

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@VANESSA-tn8gb 10 ай бұрын

Thanks for your pace of delivery.

@hawnma8083 Жыл бұрын

Dang, booyah! Doing my homework as I set a plan to open my own business. Ty. I will be subscribing.

@erykahardis9636 2 жыл бұрын

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.

@EdwinJDurand 3 жыл бұрын

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.

@Andre-wl8ck 3 жыл бұрын

Thank you for your comment, I will refer you to the com mercial analyst and market guru to get a good profit in Crypto and other digital assets......

@Andre-wl8ck 3 жыл бұрын

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@Andre-wl8ck 3 жыл бұрын

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