What is an S Corporation? - All Up In Yo' Business

[@maralsaccoyan7710]

not only are you super helpful but watching this video shows your growth and thats very motivating! You go girl! Keep doing what you're doing!

[@johnhindoyan1625]

Instead of having to read for maybe around a half an hour or more to understand, you summed it up in 10. Thank you for your content

[@sherrynickerson9385]

I watched all of your videos and I have to say they were very informative. There were other people talking about these subjects but they were too confusing. Thank you for explaining LLCs and S corps. I now have a clear understanding.

[@lenorejackson2203]

Luv the name Sis.. leaning towards S Corp U are teaching me a lot keep holding us down!

[@darealist1314]

I just learned of your YT page and you are very helpful....thank you for sharing your knowledge and expertise!

[@davidmcwhirter3174]

Great video- Very helpful. :) Question - Can you please put on ur list a video about how to correctly write out the 'minutes' for an S-Corp? Including formatting them and how often they are needed? Thanks!!

[@void157]

In true lawyer fashion, the incredible disclaimer up front LOL

[@sunchaser7165]

You're videos are awesome! Really like the way you put things in as simple terms as possible. I have learned a lot in just the few videos I've seen so far. Thank you.

[@ithinkigottalent4047]

God bless you for creating this video! I'm considering S corporate and it sounded greek to me :-) thanks a bunch and I'm working with a CPA.

[@angelinalarocca549]

I just started watching uour videos and must say, you explain these topics so much better than many others. Thank you! You are awesome!!

[@Pure_KodiakWILD_Power]

😂 KZbin took me all the way back to episode THREE 😋❤️

[@aholaway3048]

Great job. Great weekend information. The sound was very low. Thank you for taking the time to give us that very helpful information. You rock!

[@allupinyobiz]

A Holaway Thank you so much! Yeah, that was filmed before I had better video & sound equipment. My newer videos are (hopefully) better quality.

[@ScottGonzaleztv]

i just wanna say thank you for creating these videos its help so much!

[@hobbies3729]

Very useful information. Easy to understand even in the year 2020. Thank you so much for making videos!

[@SusanKer]

Love it!. Amazing! I am starting to do something similar and I wanted to see what is being said already about this subject and I found you. I am so happy! Thank you so much for helping people. You are a blessing. We need more people like you in this earth. Blessings :)

[@Maahvulus1]

Why are there videos on youtube titled "S-corp vs LLC?" when you can elect to be treated as an S-corp AS AN LLC? Love your videos by the way. You are extremely helpful, and I can't believe your information is free!

[@b_aleman]

Your videos are invaluable. Thank you so much!

[@CDE.Hacker]

I just found your channel and I love it. Too bad I'm in Nevada, I'm in need of an attorney. But thanks for the videos

[@amely6932]

In my town its hard to find a good CPA who can help especially about talking to business owners about choosing to be taxed as a LLC or a s-corp.

[@littlejo]

I am so glad your videos came up here. Super helpful, simple video and so clear on the process. Thank you thank you

[@allupinyobiz]

You’re welcome!! Thank you for watching

[@cindynapoli7530]

Thank you for all your help and insight. Was waiting for you to tell us the difference between llc S corp and an S corp .

[@mckenzie1685]

great presenration that shows that you are competent on what you are teaching, keep tthe great work, thank you

[@etwrigh1]

What a fantastic, educational video. Thank you very much for taking the time.

[@allupinyobiz]

Thank you so much for watching!

[@williamjverhagen]

Thanks for the knowledge l. Great job.

[@xperea91]

I know this is so besides the point but aside from being so helpful you’re also so pretty! (:

[@allupinyobiz]

Well thnx 😊

[@williamdavies8098]

Ok so if I elect to form a S-CORP, does the LLC still provide legal protection for the owner from law suits to the business?

[@bchicks34]

I see nothing wrong with this video. Well done, thank you for the information

[@davidnims7954]

I just formed an LLC spa business as a single owner. Your videos are extremely helpful. One question though. When do I elect do be treated as an s corp?

[@alexsantiago357]

Aiden short easy vids are more informative than other longer vids

[@stevendunn2501]

Awesome breakdown.

[@doronbracha3902]

Very helpful and knowledgeable, thank you Aiden !

[@waynel680]

Enrolled Agents (EA) specializes in taxes and generally more knowledgeable in taxes versus attorneys and CPAs'. Thought that I throw that out there because most individuals don't know about Enrolled Agents. And, they usually charge less than Attorneys and CPAs".

[@WandaBooth]

Thank you for the great information!!! You are so helpful.

[@Crur27]

Thank you very much for making this video help me out a lot understand about the s corporation

[@arizzonLA]

Really clear and helpful info, thanks so much for sharing this!!

[@andreboyer8110]

She so awesome thanks for all your information

[@jaylerver5374]

You answered my question on point. Thank you for sharing.

[@dragonwolf9435]

Thank you so much for the much needed info! Also, your humor and honesty and willingness to share with us is stupendous!!! Do you happen to know if quotes from someon needs their permission or if just quotes and their Name is ok? Again, thank you!

[@kaushalpatel7803]

Thank you very much for information.

[@robp.7732]

Simple and very helpful. Thank you.

[@davidwoodall9520]

I'm really use confused on paying myself a reasonable wage and additional income being paid as dividends. Your videos are very helpful just a little lost here.

[@qismatamin3162]

Super Helpful! Finally i figured out, C Vs S Cop! Thank you!

[@allupinyobiz]

Woohoo! You're welcome!

[@qismatamin3162]

Thank you!

[@jedsanford7879]

i am in colorado. your video was very helpful. i am basically taking a job and turning it into a business right now, i was working for a wage making finished wood from rough sawn lumber. I bought a planer and a lot of wood and now my former employer (for tax reasons!) prefers to pay me by purchasing goods rather than worry about wages and workmans comp. So what i would like to know is how i file for an LLC and make it an S Corp in Colorado? thank you!

[@rafael.romero]

Great video! Why does an S-Corporation can only have 100 stockholders?

[@blackstar484]

What I would like to know is what if you aren't making any money , wanna start a business but how will it work with taxes and paying your self if you don't even know if it's going to work out as far as dealing with the unknown?

[@ivanreyes1946]

very helpful thank you from FLORIDA I HAVE A LAWN SERVICE AND I WANT TO FORM A LLC WITH 1 MEMBER

[@jacobmaldonado4670]

This actually helped!

[@bmk727]

Love the videos. Thank you for the information. If you start an LLC as a single owner LLC but have a business partner that has no stake in the company, can you still pay them their agreed upon share of the profit of the company?

[@soopafly408]

Could you possibly do a video about what 1031 exchanges are and how a small business could use them? Thanks

[@allupinyobiz]

Absolutely--I'll put it on the list. Thank you!

[@carolmarie5789]

As an LLC (S-Corp), do you have to pay your self and your employees hourly wages or may you pay 'commissions' instead?

[@TamikaRaye]

Great video. Lots of good information. Thank you

[@J_Bravo]

great job thanks :D

[@TFWS6]

If I would elect to be taxed as an s-corp and would still be making member contributions to get my business up and running, I don't understand how at the same time it would make sense to pay myself. How would I negotiate or at least rationalize this in my head? Help! hahaha.

[@brendailgen]

You really do a great job at making this easier to understand. Is it possible to pay for a phone consultation with you? Thank you for doing a great job.

[@jonathanbast6704]

This was a great explanation. Thanks for the video. However what happens if I don't elect for either? In the past I've never registered to be an S Corp or a C Corp. and I simply pay taxes on the net profit. What would be the main difference if I elected now?

[@hatcherbyron]

Can I C your Corporation? Lol (jk) Very informative. Everyone come to Tennessee! There's no state income tax and if you start an S Corporation, you'll avoid the 15.3% self employment tax! In 2021, the Halls Tax is going to disappear, so taxation on interest, capital gains, and dividends will not be taxed by the state. Nashville TN is a great place to invest!

[@machetemedina5185]

ive heard that you can register a business that your going to have in one state ( lets say Florida) in another state ( lets say Tennessee in this instance) to avoid certain taxes that the state ( Florida in this case) puts on businesses... whats your take on this?? or am i completely wrong?? lol

[@hatcherbyron]

MACHETE medina I haven't done that myself and don't want to speak on that if I have no experience on that. I'd rather say I'm not sure than look stupid lol that's a great question though! I'll look into it and get back to you.

[@gettoreupdotcom]

You still looking into it Byron?

[@junioraflague9593]

Super helpful! Thank you!

[@wadehedrick4315]

Thanks for the informative videos. I've learned a a great deal from watching several of your videos. If I have a one person S Corp with me being the only employee. Where would I deduct expenses like business use of my car, my cellphone and internet services? On my personal return or on the S Corp return and where on that return?

[@Cenergee]

Hi from an Australian, I am looking to do business via an E2 Investment Visa and just thought of a couple of question that your viewers would be interested in...and of course myself, I want to be a sole CEO of several LLC's, I am expecting to make considerable profit in the first year, so what I have gathered from your wonderful videos is LLC's with S Corp, what is your thoughts on being Trustee of a Trust and is this beneficial for taxation and asset protection. Thanks in advance your a breath of fresh air

[@Kevin-kp7sv]

Great video and very helpful

[@br3wskee]

Does the IRS code give you the definition of "reasonable wages"?

[@leoliao3389]

This video really helps a lot!! thxs you so much!

[@valesquezbowen7718]

What If you elect to put the income back into the business such as real estate will you be subject to tax?

[@kylezarnoff8999]

Great information thank you !

[@MariaHernandez-zz9dp]

Thank you

[@TruckerT777]

can you do a video on shell and shelf corps

[@etzel42]

Thanks for sharing, these videos are very useful. I do have a questions though, I just created an LLC and did get an EIN because I plan on having employees at some point, but as of right now its only me. I did not choose S-corp so I'm still a sole-proprietor.. but would I have to file taxes separately since I have the EIN?

[@tajmahlove7187]

Great video

[@christianbotello8537]

Is there any restrictions on profits considered as "dividends"?

[@brianlewis9665]

Gave the graphics team off. Another helpful vid. Thank you

[@hankwest1946]

I formed an LLC in Michigan, but I'm now moving to Florida. It happened way quicker than I anticipated, so I never did any business under my LLC. I do want to establish one in Florida, and I want to make sure there aren't any lingering issues. Are there any steps I have to take before I move out of state, or can I just leave it alone because I never did any business?

[@scottc1653]

Well done. Thank you for being so clear. S corp seems to be the way to go, but I have a question. Does one need a LLC. that is designated as an S corp. or do you have an S corp entity? Please explain. Thx

[@allupinyobiz]

Scott C You can have an LLC or a corporation as the entity, but the S Corp is purely a tax classification. Hope that helps. Thank you so much for watching!

[@traceescott2147]

We have an LLC with 2 members so it is considered a partnership from what I understand. As such, we are not able file as an S corp, is that correct?

[@mairscollision3506]

Thanks for info!

[@Swampdog55]

If you are a shareholder of a corporation who receives dividends which are taxed at 20%, is there any reason to go from Corporation to S Corp. where you taxes will be much higher? Could it be a better Payout?

[@jessierios1055]

Would an hvac (heating and air conditioning company ) company qualify for an S corporation?

[@lmconcreteconstructionmore9610]

thank you, very helpful

[@u-cleardermabrasiom315]

what is 720 federal tax. I just fought for my business license as a sole proprietor and I'm trying to get my EIN number is this important should I have it.

[@doapSauce]

do you help people out of state? Im just to the south of yall in NM. I go to denver a couple times a year.

[@laughandluxe]

Great Info.

[@rosanavidal]

Thank you!

[@michratty]

Hi i am watching your videos and they are very helpful and I am grateful for the help. I have elected to form a llc with 2 members however I have 80% of the business. I feel that we should go with an s-corp for taxation purposes. What is your suggestion as what do i pay for 20% of a business

[@allupinyobiz]

michelle Miller Campbell S-Corporation is usually the best bet for LLCs. But what you pay the 20% owner will depend on your specific circumstances. I suggest you seek the advice of a CPA for help with that since I can't really give you an answer. Thanks for the great question!

[@89sn2001]

How do you become an LLC treated as an S Corp after you have made no election and by default were put in as treated as Sole Proprietorship? Which was ok for first year, but now that more profitable and accidentally paid myself a payroll wage with the other employees for 2014, I want to now be an S Corp with a start date of sometime in 2014. Basically, when I enter W2 wages they are also a part of the entire profit so it is counting that wage 2x Help??

[@allupinyobiz]

89sn2001 Single-Member LLCs default to being taxed as sole proprietors. You can elect to be taxed as an S Corp by filing IRS Form 2553. If you think you've already messed up your payroll, etc., I recommend you get with your accountant/CPA to get it all straightened out. Thanks for the great question!

[@mikea8967]

What about if a couple are partners and filed to become LLC. as managers. What does that make the LLC?

[@laviniafuapau6470]

Hi,,my husband is a concrete concrete contractor and currently do biz as a sole proprietor,,is it legal to change entity into a s corp or llc if he dont have no workers?

[@marinentertainment1231]

Hi, my name is Ernesto Marin, my wife and I just went Corporate, we are in the shoe importing shoes business, do you have any advice or tips for new small business corporate partners., we have our business in California

[@markperez6060]

I really like your video, and I have a question. I formed my LLC in 2013 but have not used it, can I now file my 2553 and 941 for 2017?

[@allupinyobiz]

Yup! You have until mid-March to file Form 2553 to have it be effective for 2017.

[@vastmethod2006]

Are you still active on these video post?

[@Pseudotrini]

When does a 2553 have to be filed?

[@allupinyobiz]

+Carla Grant Hi Carla, check out my other video, "How Do I Form an S Corp." I address that exact question! kzbin.info/www/bejne/jH7HoXSPadVjrKM thank you for watching!

[@leewatkins1610]

early in the year...I think before march 15....even ifyou have been an llc for other years

[@chris043]

should I choose LLc for a outdoors store or s-corp

[@Bori5646]

S corp is not a business entity, it is a tax election, if you planning to start a small store that you handle yourself I would start as an LLC

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smokin hot. this was a serious one tho. she wasn't playing around like usuala

[@miketrout2727]

One question about double taxation. I've heard this statement made time and again, and I'm not sure if the implication is completely accurate. The implication is that C-Corporations get taxed on the money they pay employees, and then that money is taxed again as income when the individual files yearly. Isn't it more correct to say that employees are taxed on their income, the corporation is taxed on its net profit, and that if you're an owner-employee then you may be taxed in two separate places, but not that the same money/income is taxed twice?

[@allupinyobiz]

The double taxation thing doesn't come from the employees. The corporation has to pay taxes on its income and the shareholders have to pay taxes on their dividends (and the dividends come from the profit of the corporation). It is taxed once to the corporation then again to the shareholders, so effectively the same money is being taxed twice.

[@oleredwhiteandblue3613]

Remember kids taxation is theft

[@dprssdsk8er89]

wow you are gorgeous... Thanks for the info!!

[@JoseMunoz-vf8om]

Great content, keep it up. You're stunning btw

[@allistermi6014]

Will dividends be taxed？

[@allupinyobiz]

Yes

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