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Choosing The Entity That Best Fits Your Business Needs...
 
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When creating your business, you have four basic entity types you can choose to use. You can choose to be a Sole Proprietorship, this is the simplest option to start a business. Then you have General Partnership, S Corporation, C Corporation, and Limited Liability Company. Each one has its advantages and disadvantages, based on what you sell, your business's finances, and the number of owners the business will have. As a business owner you have to select the structure that best fits your business needs.
Views: 136442 You Can Reach J
Sole Proprietor, LLC, or Corporation? - All Up In Yo' Business
 
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Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 What The Heck is an S Corporation?: https://youtu.be/i5to7Da3wMw Top 10 Things Every LLC Needs: https://youtu.be/T826TLGEK9w The three most common types of structures for a small business are the sole proprietor, LLC, and corporation. These are by no means the only options for business structure; there are many more options out there (e.g., general partnerships, limited partnerships, limited liability partnerships, cooperatives, non-profit corporations, etc.). If you are operating as a sole proprietor, this means that you have not really formed any legal structure of a business entity. If you are just an individual making income from providing services or selling products and you have not registered anything with your state, then you are already operating as a sole proprietor. If you are operating under a trade name (e.g., if I am operating a lawn mowing service under the name “Aiden’s Lawn Mowing Service,” that would be the trade name), then you should file a Statement of Trade Name with the Secretary of State in order to register the fact that you are operating under that trade name. However, just because you file your trade name does not mean that you are an LLC or any kind of entity; you are still just a sole proprietor. The LLC is the most popular entity formation and that is because (in Colorado, at least) an LLC is inexpensive and relatively simple to start and run. To form an LLC, all you have to do is file Articles of Organization with the Secretary of State (or whatever agency operates business organizations in your state) and boom! you've got yourself an LLC. Of course, there are other things you need to do to make sure your LLC is going to protect you personally and to avoid piercing the corporate veil. Similar to a sole proprietor, all of the income to the business is taxed as if it were personal income to the business owner. Finally, the biggest difference between an LLC and sole proprietor is that an LLC does give you that liability protection. So, if there is a lawsuit, or if the LLC is subject to some liability, then you as the business owner should be personally protected and your personal assets would most likely be safe from those liabilities. When I say "corporation" in this context, I am referring to a C-Corporation specifically. (I'm going to touch on the S-Corporation in just a minute.) The corporation is a little bit more complicated and expensive to set up, but there are some instances where it would be useful to have a corporation. First, it’s important to know that there are three groups of players in a corporation: Shareholders, Board of Directors, and Officers. Shareholders are basically the owners; they own shares of the corporation. The Board of Directors is responsible for making decisions about the operation of the corporation. And the Officers are generally those that are actually participating in the business and managing the business and all of its activities. Despite these various players, a small business can still form as a corporation and the Shareholder, Board of Directors, and Officers can all be one person. In other words, one person can hold multiple positions within the corporation. To create a corporation, you will need to file Articles of Incorporation with the Secretary of State. You will also need to write Bylaws, which are essentially the same as an Operating Agreement. The Bylaws say how the corporation is going to be run and managed and operated. If there are going to be multiple shareholders, then you will probably also want to have a Shareholder Agreement. One of the biggest drawbacks of a corporation is that corporations are subject to double taxation. When money comes into the business it is taxed at the corporate rate as income to the corporation, then when money is distributed to the shareholders, it is taxed again as dividends to the shareholders. Finally, just like an LLC, the corporation provides liability protection to the Shareholders, the Board of Directors, and the Officers in most instances. Thumbs up & subscribe if you want more AUIYB! The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by 180 Law Co. LLC, with its principal office located at 50 S. Steele Street, Suite 250, Denver, CO 80209. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship 180 Law Co. LLC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. All Up In Yo’ Business® is a registered trademark of 180 Law Co. LLC. ©180 Law Co. LLC. All rights reserved. limited liability company (organization legal structure)
Views: 222332 180 Law Co. LLC
How To Choose The Right Legal Structure For Your Business
 
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http://www.fitsmallbusiness.com In today's video we are going to discuss business structures and how to know which business legal structure is right for your business.
Views: 39528 FitSmallBusiness
Introduction to business 1: Business structures
 
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Should you operate your new business as a sole trader, partnership, or company? In this animated video, Inland Revenue explains three common business structures.
Business Studies - Legal Structure Structure: Business Exam Tips
 
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Get Unlimited Access to GCSE Tutor Videos & Online Revision Here for £19.99: http://www.revisionapp.co.uk/product/online-gcse-revision. The legal structure a business chooses is fundamental to the way it operates. This legal framework determines who shares in the profits and losses, how tax is paid, where legal liabilities rests. It also determines the nature of a business' relationships with business associates, investors, creditors and employees. There are three options for a business' legal structure: Firstly, sole traders. These are individuals who run an unincorporated business on his or her own. Sometimes otherwise known as a "sole proprietor" or (in the case of professional services) a"sole practitioner". Examples of these are mobile hairdressers, plumbers, market traders etc. Sole traders are legally allowed to have paid staff but have full responsibility in financing them from their own pockets. This may be from loans or savings. However, they'll always have full control of the business and take all the profits! One of the benefits of being a sole trader is that it's the most straight-forward option. Individuals are taxed under the Inland Revenue's Self-Assessment system, with income tax calculated after deduction for business expenses and personal allowances. One of the disadvantages of being a sole trader is that they face unlimited liability for their debts. There is no legal difference between the business and the owner. If the businesses is in trouble, so is the owner! An alternative option is to incorporate a company. This will give the business a separate legal identity from the owners. Profits and losses are the company's and it has its own debts and obligations. Unlike sole trading, the company continues despite the resignation, death or bankruptcy of management or shareholders. An incorporated company also offers the best vehicle for expansion and the potential for investment from outside sources. The two main types of companies are private limited companies and public limited companies. Private limited companies are often small, family run businesses which are owned by shareholders. Every shareholder must have involvement in the business and none of the shares are allowed to be sold to the public. Public limited companies (also known as PLCs) are a much larger type of joint-stock company. They can sell its shares on the Stock Exchange to the public and can raise a lot more finance. The third structure is a partnership. A partnership is an association of individuals and generally there will be between 2 and 20 partners. Common examples of a partnership include doctor's surgeries, veterinarians and solicitors. Unlike an incorporated company a partnership does not have a "legal personality" of its own. This means that each partner is responsible for the debts of the partnership. Normally, partners share the profits equally. Therefore the operation of a partnership is usually governed by a "Partnership Agreement" which details the responsibilities and rights of each partner. It is really important that if you enter a partnership, you pick the right people!
Exploring business entity types | Small business | lynda.com
 
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So you want to start a small business. How should you structure it? Learn about business entity types such as sole proprietorships, partnerships, and corporations, and explore the benefits of each in this tutorial. Watch the follow-up movies at http://www.lynda.com/Business-Business-Skills-tutorials/Small-Business-Secrets/156584-2.html?utm_campaign=UEGkczPJJ9Q&utm_medium=social&utm_source=youtube-earned. This specific tutorial is from the Small Business Secrts series presented by lynda.com author Dave Crenshaw. This series covers small business topics such as getting started, writing a business plan, determining your most valuable product or service, hiring people, managing processes, documenting systems, bootstrapping, seeking funding, accounting, controlling costs and profit margins, marketing, creating culture, and more.
Views: 18622 LinkedIn Learning
How To Choose A Legal Structure For Your UK Company
 
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When you start a business in the UK one of the first things you have to do is decide how you want to structure it. This can be quite daunting if it is you first time however the choices are relatively simple. For a transcription of this video go to http://twoschmucks.com/guides You can find guides, tips and strategies for all stages of your business at http://twoschmucks.com. From planning a concept through to exit strategies, you can find it here. If you enjoy this video then please Like, Share and Subscribe.
Views: 5410 Two Schmucks
Business Type vs Business Legal Structure
 
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Create an AMAZING Business: https://goo.gl/kpVUD2 What is the difference between a business type, and a business legal structure? Can a freelancer work as a corporation? Learn web development fast: https://shop.killervideostore.com/ Learn Python 3 fast: http://www.killervideostore.com/python/ My Instagram: https://www.instagram.com/stefanmischook/?hl=en Thanks! Stef
Views: 1061 Stefan Mischook
Choose the right legal structure for your business
 
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Introduction to the common types of legal structures for businesses. Further information: https://www.nibusinessinfo.co.uk/content/choose-right-business-model-and-legal-structure
Views: 3639 nibusinessinfo.co.uk
Types Of Business Structures
 
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Business Structure http://www.dwmbeancounter.com In a nutshell, my site Bean Counter is primarily an accounting educational and training site that offers free beginning bookkeeping and accounting tutorials, courses, exams, tests, quizzes, and games with a dose of humor injected. - See more at: http://www.dwmbeancounter.com
Views: 2304 Bean Counter
What you need to know about legal structures for Small Business
 
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What kind of structure should you have for your Australian business?
Views: 80 Virtual Legal
Business Studies - Organisation Structure: Business Exam Tips
 
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Get Unlimited Access to GCSE Tutor Videos & Online Revision Here for £19.99: http://www.revisionapp.co.uk/product/online-gcse-revision. Businesses can be very complex organisations with many hundreds or thousands of people working in them in many different roles. In order to manage their resources effectively, businesses must have clear organisational structures in place. Organisational structures include the different relationships between people in an organisation. For example in some cases, an employer might want to have a very formal relationship between people in the organisation in others it might be more relaxed. This happens in every day life too. Think about any organisation you're a part of. Do you call the other people by their first names? Do you call them by their title? What about the other members themselves? Do they call each other 'Mrs D', 'Dr X' or 'Mr M' or do they refer to each other by their first names? How do they refer to the the person leading the organisation? Different levels in a business are referred to as hierarchies. A hierarchy occurs where people are given some sort of title or rank that signifies their importance in the organisation. All businesses have employees working at different levels of responsibility. At the bottom, a business depends on its operatives to produce the products or services. Team leaders often perform the day-to-day management role, with operational managers setting direction and strategy for the business as a whole. The number of employees in each level will depend on the business' organisational structure. It is important to determine who takes responsibility for decision making, who reports to who and who to blame when things mess up (or who gets the pat on the back if things go well!) There are three typical organisational structures. They are known as hierarchical, flat and matrix. A hierarchical structure is typical in large companies where each level of employee reports upwards and each level has a narrow span of control. The downside of this type of structure is that it can often lead to significantly slower communication and decision making. A flat organisational structure has much less levels of hierarchy and wider spans of control. This means employees at each level can communicate with managers more easily and quickly. However, this usually means that workers take more responsibility for decision-making. The benefits of this are that it may encourage a more dedicated and motivated workforce. Typically this type of structure is used in small businesses and start-ups. A benefit of this structure is that it allows the business to change rapidly to respond to the market, customers or competitors. However, this only applies if the staff are well trained and are actually capable of making the changes. Lastly, a matrix structure gathers employees who hold the relevant expertise in order to help the business to meet its goals. The people selected come from different levels and departments within the business. The structure can be used in both hierarchical and flat organisations and are typically used for specific projects. Individual team members may come from different parts of the business, regardless of their usual location in the hierarchy. Obviously once a project is over the matrix will be disbanded.
Choosing the Right Legal Structure for Your New Business
 
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Should your business be structured as a sole proprietorship, a small corporation and LLC? Keith Girouard of the Massachusetts Small Business Development Center Network speaks to John Krol of Berkshire Business Today about the different legal business structures and different aspects to consider when choosing one.
Choosing the Right Legal Structure for Your Business
 
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Choosing the Right Legal Structure for Your Business - You must choose a structure for your business. This structure will define your legal responsibilities, like: the paperwork you must fill in to get started the taxes you’ll have to manage and pay how you can personally take the profit your business makes your personal responsibilities if your business makes a loss You can change your business structure after you’ve started up if you find a new structure suits you better or saves you money. Types of business The main types are: sole trader limited company business partnership You can form an ‘unincorporated association’ if you’re setting up a small organisation like a sports club or a voluntary group and don’t plan to make a profit. You can use other structures for businesses that help people or communities, eg ‘social enterprises’. https://www.gov.uk/business-legal-structures/overview http://callietimothy.com/ Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 1025 callie timothy
Corp 101: The Basics of Corporate Structure
 
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http://businessroundtable.org/ Corporations 101: The Basics of Corporate Structure. Check back soon for more on the inner workings of corporations. https://www.facebook.com/BusinessRoundtable
Views: 244194 Business Roundtable
Best Legal Entity for Real Estate Investing
 
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Discover the best legal entity if you are going to be investing in real estate
Views: 262241 Phil Pustejovsky
Choosing the Right Legal Structure
 
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An HMRC guide to choosing the most suitable legal structure for your new business. HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Why not ask a question or share your experiences on HMRC’s Small Business Forum? You can find it here: https://online.hmrc.gov.uk/webchatprod/community/forums/list.page Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 12089 HMRCgovuk
Tax Difference between LLC and S-Corp - LLC vs. S Corporation explanation (FREELANCE TAX & 1099 Tax)
 
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What's the tax difference between and LLC and an S Corporation? Will you save taxes if you convert from an LLC taxed as a sole prop, to being taxed as a sub chapter s? How much taxes will you save if you become an S-Corp? If you want to know the tax difference between an LLC and an S-Corp, then check out this video.! In this video, I'm going to explain exactly what the difference is between an LLC and an S-Corporation, particularly when it comes to your self employment taxes, (aka SE Taxes), which are your medicare and social security taxes. how do you reduce your business taxes? Well, there are three major tax reductions strategies: Business entity optimization, benefits and retirement plans like 401k, SEP IRA, and Simple IRA"s, and then utilizing real estate investments. UPDATE ON NUANCE FINANCIAL - I NO LONGER RECOMMEND NUANCE FINANCIAL, but instead HIGHLY recommend Xendoo Accounting, because it's faster, cheaper, higher quality service, and nation wide. If you're looking for a payroll, bookkeeping, tax return, tax planning (with CPA support), then check out my AFFILIATE LINK for XENDOO Accounting here: https://www.xendoo.com/learn-more?fp_ref=rob69 If we added value, consider supporting me and my family on Patreon. We're committed to creating free business, tax and accounting content, and we're thrilled that we've had the support of our little community! https://www.patreon.com/feedbackwrench/ Follow us at: Twitter - https://twitter.com/feedbackwrench Facebook - https://facebook.com/feedbackwrench Instagram @feedbackwrench What's the tax difference between an LLC and an S-Corp? What's better, an S Corp or an LLC? How to convert to an S Corporation? Are there tax savings when you become an S-Corp? What business type should I be? How to choose a business type? There are dozens of questions that people have concerning their business entity type. The bottom line is that people are usually trying to pay their fair share and not a penny more - that's the most important thing to them. If you're looking for tax planning advice, ways to reduce your taxes, legal tax loopholes, the best tax loopholes for small business or the best tax write offs for small business - the foundation starts with your business entity type. You should make a wise decision about becoming a limited liability company taxed as a sole proprietor or an S-Corp, because it might save you in self employment, social security and medicare taxes. Social security taxes for an S-Corp are important to figure out! So is figuring out the medicare taxes on an LLC or an S-corp. We hope this video helps you out a ton!
Views: 349330 FeedbackWrench
Which Legal Structure is Best for Your Business?
 
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Chad J. Lee, Esq. is an Associate Attorney with Balcomb and Green, P.C. in Glenwood Springs, Colorado. This short video is appropriate for entrepreneurs seeking advice to determine which legal structure is best to set up their business.
Views: 2186 RFBRC81601
Types Of Company Part 1 by Advocate Sanyog Vyas
 
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To Buy video Lectures in Pendrive, DVD, online, Android, Books, Test Series please visit our website https://sanyogvyaslawclasses.com/
Views: 388779 Sanyog Vyas Law Classes
LLC or Corporation: Which is Better
 
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Curious which is a better entity structure for your business, an LLC or Corporation? The answer depends on your business goals, as both entity types have pros and cons. Part of video series entitled Genesis Law Firm Teaches. For more free legal guides, visit http://www.genesislawfirm.com and click on the 'resources' tab.
Views: 58336 Genesis Business
The Best Structure for a Partnership | Mark J Kohler | Tax & Legal Tip
 
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Sign up for my weekly newsletter to download my FREE E-book "The 10 Best Tax-Saving Secrets Everyone Should Know" or schedule a FREE 15 Minute Interview with an Attorney or CPA from my team! Visit http://markjkohler.com/youtube Follow me on my social media with DAILY and WEEKLY Tips and Blog Articles, and also catch me surfing at http://www.markjkohler.com/social. To purchase my new book: "The Tax and Legal Playbook" please visit the Entrepreneur bookstore here: http://amzn.to/1cWlhor Check out my Law Firm KKOS Lawyers at http://www.kkoslawyers.com Visit my Accounting Firm K&E CPAs at http://www.ke-cpas.com Help us caption & translate this video! http://amara.org/v/aTj1/
Views: 10291 Mark J Kohler
Choose the Right Legal Entity When Starting a Business
 
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Business and banking consultant Linda Keith explains the pros and cons of the most common business structures. Source: http://www.allbusiness.com/legal/14710995-1.html#ixzz1WYFnGt84
Views: 857 allbusinessdotcom
Business Startup Tips - LLC vs S Corp: Which is better to minimize tax?
 
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Business Startup Tips - LLC vs S Corp: Which is better to minimize tax? ONLINE COURSE - Complete Guide to Choosing the Right Business Structure http://bit.ly/2cm5EYI JOIN 1,000+ STUDENTS WHO HAVE CHOSE THE CORRECT BUSINESS STRUCTURE FOR THEIR BUSINESS & INCORPORATED THEIR BUSINESS ON THEIR OWN! Are you an entrepreneur, online business owner, or small business owner? Are you confused about how to start your business? Do you want to know the difference between a Sole Proprietorship, Limited Liability Company, or Corporation? This course is a comprehensive overview to help you understand the differences and advantages and disadvantages of the most common business types, including: Sole Proprietorship, Partnership, Limited Liability Company LLC, C-Corporation, and S-Corp. Most people are surprised to find out that you don't need a business lawyer to choose and form the correct business structure for your business. For less than the cost of one-hour of legal work, you’ll be in great position to start your business and save money on a business lawyer. All businesses are taxed on their net profit (or loss) which is computed by taking sales less allowable deductible expenses. An LLC's tax is paid on the owner's individual tax return based on percentage of ownership in the company. If you are a 50% owner of an LLC, with $120,000 of net profit, you pay tax on 50% of that net profit($60,000) on your personal tax return. An S Corporation pays a reasonable salary to the working owner of a business. Then any remaining profit or loss (after subtracting the salary to the owner as a deductible expense) flows through to the owner's personal tax return. Say you are a working 50% owner of a profitable business and you are paid $50,000 in salary. The corporation has $20,000 of net profit of which you are entitled to 50%; therefore, on your personal tax return you would pay tax on the salary of $50,000 plus $10,000 profit which equals $60,000 in total taxable business income. Something else to consider is that if you start with an LLC entity the tax law allows you to switch tax free to an S Corporation once you are an LLC. But, you can not do the reverse. Once you are an S Corporation, you can not switch to an LLC. There are always other tax, legal and financial considerations that should be taken into account when making such an important decision. The video also discusses the need for having a buy-sell agreement, employment contracts. https://www.youtube.com/channel/UCIypuA7lS-FsVG6cMlNCK2w?sub_confirmation=1 Check out some of our other videos Compensation claims - how long should it take https://youtu.be/NuxfrgSTg78 LLC vs S Corp https://youtu.be/4xNCnf9hitw
Views: 12459 The Business Channel
Starting a Homestead Business: Legal Structure and Tax Filing
 
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When thinking of starting a homestead business - a farmstead - it can be confusing as to whether you should structure your business as a sole proprietorship, LLC (with an IRS 2553 declaration), or S-corp. In this video I share our experience with these different types of structures as well as the pros and cons of each. None of the content in this video is legal advice. Please consult an attorney and a CPA for legal advice. If you have received any value from this video, please consider supporting our work through our amazon affiliate link and/or through Patreon Patreon link: https://www.patreon.com/grassfedhomestead Amazon Affiliate link: https://www.amazon.com/shop/thegrassfedhomestead
New Business - Different Types Explained
 
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What type of operating structure and entity form will you use; Sole Proprietorship, Partnership, Limited Liability Company or Corporation. Remember, the decision you make will not make a material difference in your overall tax liability.
Views: 551 NASE Minute
10 Different Roles Within a Company
 
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Subscribe to the channel: http://www.youtube.com/valuetainment?... The bigger your vision is, the more important it is for you to build a team. One of the challenges that people have is they want to be something they're not. Everybody wants to be the Shaq or the LeBron or the Kobe instead of realizing their area of strength. In this video, I talk about the following 10 different roles in a company. Biz Dev - 1:14 Visionary - 2:19 Operations - 7:01 Finance - 7:49 Expansion - 8:15 Marketing - 9:36 Legal - 10:55 Information - 11:51 Product Development - 12:47 Sales - 14:13 Visit the official Valuetainment Store for gear: https://www.valuetainmentstore.com/ For more information and for detailed notes for this episode, visit http://www.patrickbetdavid.com/roles-within-a-company/ Valuetainment- The best channel for new, startup and established entrepreneurs. Schedule: New episodes every Tuesday and Thursday on a broad array of entrepreneurial topics.
Views: 70407 Valuetainment
Business Startup Tips - LLC vs S Corp: Which is better for you? Legal Issues for Entrepreneurs
 
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Business Startup Tips - LLC vs S Corp - Legal Issues for Entrepreneurs ONLINE COURSE - Complete Guide to Choosing the Right Business Structure http://bit.ly/2cm5EYI JOIN 1,000+ STUDENTS WHO HAVE CHOSE THE CORRECT BUSINESS STRUCTURE FOR THEIR BUSINESS & INCORPORATED THEIR BUSINESS ON THEIR OWN! Are you an entrepreneur, online business owner, or small business owner? Are you confused about how to start your business? Do you want to know the difference between a Sole Proprietorship, Limited Liability Company, or Corporation? This course is a comprehensive overview to help you understand the differences and advantages and disadvantages of the most common business types, including: Sole Proprietorship, Partnership, Limited Liability Company LLC, C-Corporation, and S-Corp. Most people are surprised to find out that you don't need a business lawyer to choose and form the correct business structure for your business. For less than the cost of one-hour of legal work, you’ll be in great position to start your business and save money on a business lawyer. LLC (limited liability company) and S Corporation are popular structures for small businesses since they avoid this double taxation burden. With these business structures, the company is taxed like a sole proprietor or partnership, meaning the company itself doesn’t file its own taxes; all company profits are "passed through" and reported on the personal income tax return of the shareholders or, in the case of an LLC, the members. Most importantly, both the LLC and S Corp will separate your personal assets from any liabilities of the company (whether from an unhappy customer, unpaid supplier, or anyone else who might pursue legal action). The similarities between these two business entities are significant, but the differences can be even more striking. While circumstances vary for each individual and his or her business, here are some pros and cons for each: LLC Pros: 1. The owner of a single member LLC doesn't have to file a tax return for the LLC, as they only report the activity on their personal tax return. 2. Ease of setup: Most LLC forms are only a single page for single member LLCs. 3. Inexpensive to start: The cost of setting up an LLC is also inexpensive, usually just a couple hundred dollars. 4. Guidelines: The red tape involved in forming an LLC isn't as stringent as that involved with S corps, which also leads to savings on accountant and attorney fees, among others. LLC Cons: 1. Self-employment tax: Single member LLC owners are required to pay self-employment tax on income generated in the LLC, which means making quarterly estimated payments to the IRS. 2. Owners of LLCs must make sure they don't pierce the "corporate veil," meaning they have to operate the LLC separately from their personal affairs. "The LLC must not be a shell but an operating entity," says Eka. "There have been cases where a business owner lost their protection because there was no distinct difference between the LLC and its owner." S Corp Pros: 1. The key advantage of an S corp is that it offers tax benefits when it comes to excess profits, known as distributions. The S corp pays its employees a "reasonable" salary, which means it should be tied to industry norms, while also deducting payroll expenses like federal taxes and FICA. Then, any remaining profits from the company can be distributed to the owners as dividends, which are taxed at a lower rate than income. S Corp Cons: 1 S corps have more strict guidelines than LLCs. Per the tax code, Eka says, you must meet the following standards to create an S corp: - Must be a U.S. citizen or resident. - Cannot have more than 100 shareholders (a spouse is considered a separate shareholder for the purpose of this rule). - Corporation can only have one class of stock. - Profits and losses must be distributed to the shareholders in proportion to the shareholder's interest. For example, you can't have disproportionate distributions of dividends or losses. If a shareholder owns 10 percent of the S corp, he or she must receive - 10 percent of the profits or losses. 2. It costs more to form an S corp. 3. Shareholders must adhere to the requirements at all times. If they don't, they risk disallowing the S corp election, and the corporation would be treated as a C corp with its corresponding restrictions. 4. Passive income limitation: You can't have more than 25 percent of gross receipts from passive activities, such as real estate investment. 5. There can be additional state taxes for S corps. 6. Shareholders should pay attention to paying themselves a "reasonable" salary for the work they perform for the S corp, since the IRS is increasingly scrutinizing S corps for this. https://www.youtube.com/channel/UCIypuA7lS-FsVG6cMlNCK2w?sub_confirmation=1 Check out some of our other videos Compensation claims - how long should it take https://youtu.be/NuxfrgSTg78 Kickstarter secrets ep 1 https://youtu.be/2EG78JNZ7nA
Views: 4961 The Business Channel
How To Make The Best Partnership Agreement
 
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http://www.fitsmallbusiness.com In today's video we are going to discuss partnership agreements and how to put together the right partnership agreement for your small business.
Views: 62286 FitSmallBusiness
Daliah Saper, Saper Law - Choosing the best entity for your new business
 
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Daliah Saper, Principal Attorney at Saper Law Offices discusses the best entity type for your new business. Congratulations on starting your new business. You're now probably wondering what is the best entity type for me. Should I be a sole proprietor? Should I get a partner and be a general partnership? A corporation, an s-corporation, an LLC -- the options can be very overwhelming. In order to make that decision you need to take a step back and decide -- what type of liability exposure are you comfortable with? What type of tax structure makes most sense for your finances? And probably most importantly what is the degree of flexibility you seek in the management of that business. From the outset I would say that a sole proprietorship or a general partnership are the worst entity types to choose from unless you're in a very low risk, low liability business. Like perhaps making greeting cards out of your home. For most businesses this is not an option because you will be exposed to personal liability in the event that there is ever a dispute regarding your business activities. So that if that greeting card company for example that you started uses a paper that gives lots of people really bad paper cuts and they come to sue you they're going after your assets and your personal bank account. Which means that the next best option is a corporate entity like an inc or a corp or what is very popular these days -- which is an LLC. A corporation is far more rigid with respect to the rules you need to follow in order to maintain corporate formalities. So, in most instances it's not the ideal choice for a small business. Moreover, there's something called double taxation. So, unless you elect to be taxed as what's called an s-corporation you're looking at increased tax liability. An s-corporation is an option and it's something you should talk about with your accountant because of certain tax advantages. But again it may not be a flexible structure for a young start-up company. So, finally there's the LLC which gives you both that personal liability protection as well as a lot of flexibility when it comes to managing your business. To really decide what makes sense for you, you need to consult with your personal accountant and of course give us a call so we can go through your options in more detail. 312 -- 527 -- 4100 saperlaw.com
Views: 407 Saper Law Videos
Legal System Basics: Crash Course Government and Politics #18
 
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This week Craig Benzine takes a first look at the judicial branch. It's pretty easy to forget that the courts, and the laws that come out of them, affect our lives on a daily basis. But how exactly these decisions are made and where each law's jurisdiction starts and ends can get pretty complicated. So complicated in fact that you may want to smash something. But don't worry, Craig will clear the way. Produced in collaboration with PBS Digital Studios: http://youtube.com/pbsdigitalstudios Support is provided by Voqal: http://www.voqal.org All Flickr.com images are licensed under Creative Commons by Attribution 2.0 http://creativecommons.org/licenses/by/2.0/legalcode -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 680245 CrashCourse
Structure of the Court System: Crash Course Government and Politics #19
 
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This week Craig Benzine is going to talk about the structure of the U.S. court system and how exactly it manages to keep things moving smoothly. We’’ll talk about trial courts, district courts, appeals courts, circuit courts, state supreme courts, and of course the one at the top - the U.S. Supreme Court. It’s all quite a bit to manage with jurisdictions and such, but it's important to remember that the vast majority of cases never even make it to court! Most are settled out of court, but also terms like mootness and ripeness are used to throw cases out altogether. Today, we're going to focus on how cases make it to the top, and next week we’ll talk about what happens when they get there. Produced in collaboration with PBS Digital Studios: http://youtube.com/pbsdigitalstudios Support is provided by Voqal: http://www.voqal.org All Flickr.com images are licensed under Creative Commons by Attribution 2.0 https://creativecommons.org/licenses/by/2.0/legalcode Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 771227 CrashCourse
Legal Business Entities
 
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Michael Massey - lawyer with Massey, Higginbotham, Vise, and Phillips, PA - discusses the different types of legal business entities (S corporations, C corporations, LLC's) and the liability protection offered by and tax considerations for each type.
Views: 212 NREmsstate
7 Key Advantages Of Having A Limited Company!!!
 
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In this video I go over 10 Advantages in total for setting up a limited company vs sole trader - Watch until the end for the disadvantages too! My FULL Amazon FBA UK Course: https://jonny-bradley.com FREE AMAZONON FBA UK FACEBOOK GROUP: https://goo.gl/TBPSnn SUBSCRIBE: https://www.youtube.com/jonnybradley 7 Key Advantages Of Having A Limited Company + 2 bonus advantages and disadvantages of setting up a limited company vs sole trader. 1. Tax and Take Home 2. Distinct Entity 3. Limited Liability 4. Naming 5. Shareholders and Funding 6. Costs 7. Selling the Business and Succession 8. Credibility 9.Pensions 10. Splitting Income —— —— Must Have Software or services: Final Cut Pro: https://goo.gl/3ezNhJ Wix Websites: https://goo.gl/yVCXaB FETCHER: https://www.goo.gl/eSd9sa JUNGLESCOUT: http://www.goo.gl/2iLtLj Clickfunnels 14 Day Trial: https://goo.gl/9RJ9fY —— Recommended reading: DotCom Secrets: http://amzn.to/2wyQhZb Expert Secrets: http://amzn.to/2iUG98d 4 Hour Work Week: http://amzn.to/2wyBcH2 Business Idea Factory: http://amzn.to/2x5q8mg Get these recommendations as audio books for free: https://goo.gl/cxEpXo My info :) Facebook: https://www.facebook.com/jonny.s.bradley Instagram @JayBeeJonny Email: [email protected]
Views: 38052 Jonny Bradley
How I Chose a Legal Business Structure
 
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How do you choose the right #business structure? Sole Proprietorship, Partnership, Corporation or an LLC? I share my story of how I learned the difference between each one and which structure I chose that was best for my freelance business. 2:46 = Sole Proprietorship 3:33 = Partnership 6:55 = LLC (4:10) 4:25 = Corporation 5:40 = S-Corporation 8:24 = A Summary What is the best business structure for a freelancer and what is the difference? Episode Notes: http://freelancejumpstart.tv/5 https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Business-Structures Make sure to subscribe and look out for new episodes. https://www.youtube.com/nathanallotey?sub_confirmation=1 — Looking to level up in your freelance business? You may need Creative Coaching: http://nathanallotey.com/coaching — Freelance Jumpstart Podcast on iTunes: http://nathanallotey.com/itunesaudio Free Course on How to Double Your Worth: http://respectandvalue.com Like the content? Donate to the Cause: http://nathanallotey.com/donate Executive Producer - Nathan Allotey Typefaces: Proxima Nova — Contact Me My website: http://nathanallotey.com Twitter: http://twitter.com/nathanallotey Facebook: http://facebook.com/TheNathanAllotey Instagram: http://instagram.com/nathan.allotey Google+: https://plus.google.com/+NathanAllotey
Views: 314 Nathan Allotey
Choosing right business legal structure in USA for Indian Entrepreneurs & Companies
 
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As Indian companies are expanding, they need to start working with customers, partners & vendors across the globe. USA being a hotspot is becoming increasingly important place for Indian companies & entrepreneurs to be present. In this episode of "eLagaan Whiteboad Friday", the eLagaan team (www.elagaan.com) explains various legal factors you need to consider & follow for Indians to start the right business type in America. More @http://www.pluggd.in/TV
Views: 2842 NEXTBIGWHAT.TV
Choosing the right legal structure for your business
 
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Sole trader, partnership or private limited company - find the right structure for your new business.
Step 2: The legal form of your business | Securex
 
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www.istartmybusiness.be Which status do you want? You can choose to start your activities as a primary or secondary occupation or as a self-employed worker’s assistant. You will also need to select the type of legal structure of your company. Read more on www.istartmybusiness.be, the starters platform in Belgium. For Tips & Tricks, info, games, testimonials and events for starters in Bekgium, go to www.facebook.com/ikstartmijnzaak
Views: 264 Securex
How a Corporation Is Structured
 
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When forming a new company, most founders choose one of two primary entity types: LLC or Corporation. It is important to understand what this decision entails. While the LLC is a fairly straightforward and flexible type of company, corporations involve bit more nuance. You may be familiar with some of the terminology related to corporations -- C Corps and S Corps, for example. And you may know that Directors, Officers, and Shareholders are all involved in a corporation. This webinar is designed not only to make you familiar with corporation terminology, but to ensure you understand the various components and procedures that govern it. Among the topics we cover are: - Types of corporations available - Corporation management and ownership - Authorizing stock and par value - Corporate bylaws - Starting a Delaware corporation
Choosing the Legal Structure for Your Business | Law Way
 
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In 'Choosing the Right Legal Structure for Your Business', Terri discusses legal structures and how to choose the right one to suit you. Copyright: Terri Janke and Company, 2016 Artwork: 'My Country' by Bibi Barba Music: 'Child of the World' by Toni Janke Special thanks to Devris Hasan, Sarah Grant and Tamina Pitt
Types of Businesses - Partnership
 
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An introduction to the partnership as a form of business.
Views: 106 Ezra Nicholson
LLC vs S Corporation
 
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LLC or S-corp, Incorporation, LLC, limited liability company, corporation, s-corp, s-corporation, liability protection, double taxation, sole proprietorship, general partnership, c-corporation, c corporation, liability, s corporation, dissolving partnership, ownership structure, management structure, roles of partners, B-corporation, B corporation, piercing the corporate veil, tax id, llp, limited liability partnership, ben and jerrys, corporate social responsibility, unilever, triple bottom line, tax law, corporate environmental responsibility
Views: 7143 Amber Book
The Jayson Law Group LLC: Limited Partnerships
 
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Welcome to The Jayson Law Group LLC's series on The Legal Aspects of Starting a Small Business in New Jersey. In our fourth video we will look at the different types of business entities and look more closely at Limited Partnerships.
Introduction to Intellectual Property: Crash Course IP 1
 
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This week, Stan Muller launches the Crash Course Intellectual Property mini-series. So, what is intellectual property, and why are we teaching it? Well, intellectual property is about ideas and their ownership, and it's basically about the rights of creators to make money from their work. Intellectual property is so pervasive in today's world, we thought you ought to know a little bit about it. We're going to discuss the three major elements of IP: Copyright, Patents, and Trademarks. ALSO, A DISCLAIMER: he views expressed in this video do not necessarily reflect those of the United States Copyright Office, the Library of Congress, or the United States Government. The information in this video is distributed on "As Is" basis, without warranty. While precaution has been taken in the preparation of the video, the author shall not have any liability to any person or entity with respect to any loss or damage caused or alleged to be caused directly or indirectly by any information contained in the work. This video is intended for educational purposes only and is not intended to be, nor should it be construed as, legal advice. Intellectual property law is notoriously fact specific, and this video (or any other single resource) cannot substitute for expert guidance from qualified legal counsel. To obtain legal guidance relevant to your particular circumstances, you should consult a qualified lawyer properly licensed in your jurisdiction. You can contact your local bar association for assistance in finding such a lawyer in your area. The Magic 8 Ball is a registered Trademark of Mattel Citation 1: Brand, Stewart. Quote from speech given at first Hackers' Conference, 1984 Citation 2: Plato, Phaedrus. 390 BC p. 157 Crash Course is now on Patreon! You can support us directly (and have your contributions matched by Patreon through April 30th!) by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Suzanne, Dustin & Owen Mets, Amy Fuller, Simon Francis Max Bild-Enkin, Ines Krueger, King of Conquerors Gareth Mok, Chris Ronderos, Gabriella Mayer, jeicorsair, Tokyo Coquette Boutique, Konradical the nonradical TO: Everyone FROM: Bob You CAN'T be 'Based off' of anything! BASED ON! TO: the world FROM: denial Nou Ani Anquietas. Hic Qua Videum. Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 589372 CrashCourse
Choosing Your Structure:  S Corps vs. LLCs
 
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When forming a small business, the choice of form is usually between the S Corp. and the LLC. Subchapter S Corporations are quite common, but they have many disadvantages when compared with Limited Liability Companies. In this segment of Spot The Issues, the type and number of shareholders, the tax treatment, types of equity and salary structure for principals in the enterprise will be discussed by Emily Campbell, Esq., the Managing Member of The Campbell Firm PLLC, a general practice law firm based in Manhattan.
Views: 14105 Emily Campbell
Set Up a New Business in Four Steps
 
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For more on topics covered in this video, see http://ow.ly/UmCG305pNQ9 Learn about the steps involved in starting a new business: writing a business plan, choosing a legal structure, deciding on a business name, registering for a business licence and getting a business number. Setting up a new business is not difficult and the Canada Business Network can help. Transcript here: http://ow.ly/pr9h305pO1h OTHER VIDEOS YOU MAY LIKE: Find the Permits & Licences You Need: http://www.youtube.com/watch?v=nzTEgmmMUFw Find Government Grants & Financing: http://www.youtube.com/watch?v=Q9WoiQuo5hc Get Help With Intellectual Property & Market Research: http://www.youtube.com/watch?v=UfXwmgPxYcQ SUBSCRIBE FOR OTHER SMALL BUSINESS VIDEOS https://www.youtube.com/channel/UCS60Z0vRsuqatYOYUztaW_A LET'S CONNECT! http://facebook.com/CanadaBusiness http://twitter.com/CanadaBusiness