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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.
Views: 216784 180 Law Co. LLC
LLC vs Sole Proprietor: Which is best for YOUR business?
 
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►► From no audience to income in 30 days. Download my FREE 30 Day No Hustle Business Plan → http://GrahamCochrane.com/30days One of the biggest questions I get as a business coach is “Should I run my business as a Sole Proprietor or setup an LLC?” Maybe you’ve asked that question yourself. Perhaps you’ve been confused about which one makes sense from a tax perspective for your business. Or maybe you actually thinking: “I don’t even know what either of those are and why should I care?!” Today I want to simply explain the differences between the two and give you a simple and easy framework to know which is the right entity for your business.
Views: 23308 Graham Cochrane
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: 338959 FeedbackWrench
What is a Limited Liability Company (LLC) and How To Start Your Own Business
 
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In this video we cover what an LLC is and show you how to start your own to get your business operating. LLC is short for Limited Liability Company, which is a business structure that allows you to reduce your liabilities when starting your business. Follow the steps provided in this video and you will be ready to start your business in no time. For legal questions feel free to use the following database of lawyers in your area: http://bit.ly/Ask-A-Lawyer I have included the list of resources mentioned in this video here for you to follow along: 1. Know Where To File Your State Website OR Streamline the process with: Rocket Lawyer: http://bit.ly/RocketLaw-LLC CorpNet: http://bit.ly/CorpNet-LLC 2. Limited Liability Company Documents Customize your operating agreement here: http://bit.ly/LLC-Operating-Agreement 3. Business license Obtain through your state or get it through a 3rd party 4. File DBA File with your county clerk office 5. IRS For EIN # http://bit.ly/IRS-GOV 6. Bank Account 7. Launch Your Store Shopify Free Trial: http://bit.ly/Get-Shopify Bluehost: Money Back Gaurantee http://www.bluehost.com/track/bluejay90 If you enjoyed this video and want to make a one time or recurring donation please visit my Patreon Page at: http://bit.ly/Support-The-Channel All funds raised will be used to create additional videos and help reach people who need this content. Start A Brand ASAP- Connecting entrepreneurs with the resources and content they need to start their business ASAP. Download the free manufacturer and supplier guide and also receive the 10 Step Program right to your inbox. http://bit.ly/Apparel-Download John Santos on Social: https://www.instagram.com/johnxsantos/ https://twitter.com/johnxsantos SC: @revivejohnny LINKS TO BUSINESS RESOURCES AND INFO. **** RESOURCE LINKS******** ***Shopify- Website Platform, 14 Day Risk Free Trial http://bit.ly/Get-Shopify ***Bluehost- Web hosting package, 30 Day Money Back Guarantee http://www.bluehost.com/track/bluejay90 *** Design Package- Photoshop, Illustrator & More http://bit.ly/Creative-Cloud1 Upload and print your designs with Printful: http://bit.ly/Try-Printful ***Fiverr- Logo Design and Graphics http://tracking.fiverr.com/SH1rz *AFFILIATE DISCLAIMER: The description may contain affiliate links, which means that if you click on one of the links, I may receive a small commission (at no added cost to you). This helps me create new videos to support your journey. If you could reference back to this description when you are ready to use a service, I’d greatly appreciate it.
Views: 40924 John Santos
How Do I Pay Myself in a Single-Member LLC? - All Up In Yo' Business
 
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Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 One question that I get asked quite often, because it’s a really good question, is how the owner of a single-member LLC is supposed to pay him/herself. There are two possible answers to this question, depending on how the LLC is taxed. Unless the LLC elects otherwise, a single-member LLC is considered a “disregarded entity” and all of the income to the LLC is treated as income to the business owner, and is all subject to self-employment tax. So basically, the owner of a single-member LLC can pay himself however and whenever he wants, keeping in mind a few important considerations: 1. Make sure you are prepared to pay taxes. Since the LLC is a disregarded entity, if the business earns $100k but you only “pay” yourself $50k, you are still going to be responsible for paying all of the taxes, including self-employment taxes, on the full $100k. (For simplicity’s sake, I am pretending there are no deductions or anything.) So you need to set aside enough money to make sure you can cover your taxes. 2. The business has to remain adequately capitalized. This means that you need to keep enough money in the business to cover all your overhead, debts, bills, salary for employees, etc. You should also leave some extra “padding” for possibly building up your business, purchasing equipment, and whatever else you may decide to do with your business. In the books, any payments to yourself should be recorded as “Member Distribution” or “Member Withdrawal.” If the LLC elects to be taxed as an S Corporation, on the other hand, you have to be paid a “reasonable” salary. Self-employment taxes will only be paid on that salary rather than on the full amount of profit the business earns. Any money that the business owner takes above that reasonable salary is considered a dividend and won’t be subject to self-employment taxes. To learn more about S Corporations, watch my earlier video What the Heck is an S Corporation at http://youtu.be/i5to7Da3wMw?list=UUNh7tqEn68tf0oOfq4NsFsg If your LLC is not taxed as an S Corp, you don’t need to put yourself on payroll, since those member distributions aren’t treated as normal payroll. If your LLC is taxed as an S Corp, then the salary you earn can be part of your payroll, and any additional dividends will be separate from that. Whether or not you elect to have your LLC taxed as an S Corp and how to handle and record the money that you pay yourself is an important conversation that should be had with your accountant, bookkeeper, & attorney. Doing it the “right” way can help minimize your tax liability and can make your life (and that of your accountant) much easier come tax time. Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/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.
Views: 438724 180 Law Co. LLC
LLC vs. S Corporation: What's the Difference for Small Business Owners?
 
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Sole Prop, LLC, S-Corporation: What's the difference between the three? Guest host Will Lopez -- Founder and Owner of Advisorfi.com -- will break it all down for you. (Check out Will's channel: https://goo.gl/1APR7p) Single-member LLCs can be taxed in two main ways: as a Sole proprietorship or as an S-Corporation. Here are some key differences between the two, explained in the video: *Setup* -- An LLC taxed as a sole prop is the default structure: So if that's what you want, no further setup is needed -- An LLC taxed as an S-Corp needs to be set up that way (work with your CPA to elect S-Corp status!) *Paying yourself* -- If you're an owner of an LLC taxed as a sole prop, the main way to pay yourself is through distributions, otherwise known as "owner's draws." -- If your LLC is an S-Corp, then the main way to pay yourself is through payroll, though you can take distributions as well. -- If you pay yourself through payroll, however, the IRS advises you take a "reasonable compensation." Watch this Advisorfi video to learn more: https://www.youtube.com/watch?v=_BranqWpYWw *FICA taxes* - If you're an LLC taxed as a sole prop, then all of your net income is subject to FICA taxes - As an S-Corp, only payroll wages are subject to FICA taxes Want even more small business resources? Check out: ---> [WATCH] How to Pay Yourself as a Sole Prop: https://goo.gl/i5yDQ2 ---> [WATCH] How to Pay Yourself as a Single-Member LLC: https://goo.gl/Z78Kxt ---> [WATCH] For amazing tips and tricks for running small businesses, check out Will's channel: https://goo.gl/1APR7p ---> [READ] How to calculate your self-employment tax in 4 steps: https://goo.gl/aXPZvE What's Ask Gusto? Ask Gusto is a YouTube series designed to answer your top payroll, HR, and benefits questions. New episodes come out regularly — feel free to ask what's on your mind, and we'll answer it! Who is Gusto? Gusto serves over 40,000 small businesses across the country with a refreshingly easy payroll, benefits, and HR solution. To learn about Gusto, visit: https://www.Gusto.com. Who is Advisorfi.com? Advisorfi.com is an online accounting and consulting firm for the next generation of business owners. For more small business answers, visit us at: https://www.gusto.com/ask-gusto
Views: 8297 Gusto
Top 10 Things Every LLC Needs - All Up In Yo' Business
 
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Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 10. Agreements. Whether they are service agreements, independent contractor agreements, subcontractor agreements, etc., most small businesses are going to need some sort of an agreement in place to operate safely (in the legal sense) and effectively. The type of small business you have will determine the types of agreements you will need to have in place. For example, as an attorney, I have a service agreement (called an Engagement Letter) with each and every client that makes it clear what I am going to be doing for the client, my fees, how the client can expect to be billed, what I expect or need from the client, my policies that affect the client, what happens if there is a disagreement between us, and so on and so forth. Most, if not all, small businesses that provide a service to their customers should, at a minimum, at least have a similar type of service agreement with their clients. It protects both the small business and the client. 9, 8, & 7. Licenses. Specifically, Tax Licenses, Business Licenses, and Other Licenses. Honestly, they are all equally important and depend largely on the nature of your small business. 6. Form 2553 (S Corp). This is the IRS form that needs to be filed if you want your small business to elect to be taxed as an S Corporation. Whether or not you need to file form 2553 is going to depend on whether it would make sense for you tax-wise to elect to be taxed as an S Corp. 5. Insurance (General Liability, Workers Comp, etc.). Every small business is going to need some type(s) of insurance. The type of insurance your small business will need also depends on what type of business you are operating. 4. Initial Resolution/Consent. Although this isn’t necessary (at least in Colorado) for all small businesses, it is usually a good idea to have an Initial Resolution or Initial Consent to Action when starting a small business in order to demonstrate that your business has adopted certain documents, like it’s Operating Agreement or Articles of Organization, and that you as the business owner have resolved to operate your business in accordance with those documents. 3. Form SS-4 (Federal Tax ID). IRS Form SS-4 Application for Employer Identification Number is the form that you file with the IRS to get a Federal Tax ID number (aka EIN or Employer Identification Number) for your small business. 2. Operating Agreement or By-Laws. Every LLC needs an Operating Agreement. Let me say that again in case you missed it: every LLC needs an Operating Agreement. Even if it is not required by statute (Colorado does not require it), it is still a vital internal document for your small business to have. An Operating Agreement is the internal document where the owner or owners (aka the members) agree on how the business is going to be operated, i.e., type and nature of business; what the business is going to do; how members are going to get paid; how distributions are going to be made; what will happen in the event of disagreement between the members; etc. All of this information is set forth in the Operating Agreement. The By-Laws of a corporation serve basically the same purpose as the Operating Agreement of an LLC. 1. Articles of Organization (or Articles of Incorporation). Every single LLC in existence must have Articles of Organization. I can say this with complete certainty because you will need to file Articles of Organization with the Secretary of State in order to create your LLC. Bottom line: if you did not file Articles of Organization, then you don’t have an LLC. Similarly, every corporation in existence must have Articles of Incorporation. The Articles of Organization or Incorporation are what brings the LLC or corporation into a legal existence. Without them, your small business, whether it is a corporation or an LLC, does not legally exist. Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/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.
Views: 165220 180 Law Co. LLC
Thinking About Forming a Single Member LLC? Watch this First!
 
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If you are thinking about forming an LLC or a Single Member LLC, this watch this video first! How to start an LLC or Limited Liability Company: I go through all the steps you will need to consider when you start an LLC, from the initial paperwork, to preparing your operating agreement, to minutes, to purchasing business insurance. But, if you still need help figuring out what to do to form an LLC... Need more information on starting a business? Download our cheatsheet here: https://www.hawthornlaw.net/cheatsheet If you want more information on how to pay yourself as a business owner: https://youtu.be/8oVdvWfLW40 I've written a more in-depth blog post on this issue at my website: http://bit.ly/2a2GMYy Some of the links below are affiliate links. If you purchase through these links, it won’t cost you any additional cash, but it will help to support my channel. Thanks! To start your own LLC, click here: http://hawthornlaw.net/incorporate Click here for an operating agreement template that you can use for your LLC: http://www.hawthornlaw.net/llc-operating If you need to get a hold of me, you can schedule a call using this link: https://hartlawfirm.as.me/legal-coaching **Unless you are a legal or private coaching client, I do NOT respond to emails or contact form submissions.** To sign up with a payroll service I use and love, click here: http://hawthornlaw.net/payroll Want the Ultimate Business Building Checklist? Click here: https://www.hawthornlaw.net/ultimate I use Vidiq to optimize my videos, here is an affiliate link if you would like to support me and sign up for their free plugin: https://hawthornlaw.net/vidiq This video is for entertainment and informational purposes ONLY and should NOT be considered legal advice. By watching a video or commenting on a video, we are not forming an attorney-client relationship. If you need specific legal advice, please ask an attorney in your state.
Views: 146617 Hawthorn Law
The top 7 things NOT to do when starting a business
 
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* Join my BELIEVE newsletter: http://www.evancarmichael.com/newsletter/ Emil: "Hey Evan! I have been watching your videos for a while now. Hope you enjoyed your trip to Asia! I am enthusiastic about entrepreneur videos. I have searched on Youtube and Google and I always get videos/articles about what to do. I believe knowing what NOT to do is equally important. Usually, all I get is generic tips such as "dont grow too fast" but there are no concrete case studies. But when it comes to successful stories, there are specific examples we can learn from. I was thinking if maybe you can have videos/articles analysing and explaining how some real businesses failed, especially start ups. It would be great if you can use your influence to encourage entrepreneurs who have failed to share their stories with you. That way, the mistake will only be made by once because we all will have learnt from it Hopefully you'll consider my suggestion" ENGAGE * Subscribe to my channel: http://www.youtube.com/subscription_center?add_user=Modelingthemasters * Leave a comment, thumbs up the video (please!) * Suppport me: http://www.evancarmichael.com/support/ CONNECT * Twitter: https://twitter.com/evancarmichael * Facebook: https://www.facebook.com/EvanCarmichaelcom * Google+: https://plus.google.com/108469771690394737405/posts * Website: http://www.evancarmichael.com EVAN * About: http://www.evancarmichael.com/about/ * Products: http://www.evancarmichael.com/zhuge/ * Coaching: http://www.evancarmichael.com/movement/ * Speaking: http://www.evancarmichael.com/speaking/ SCHEDULE * Mon - 1 Minute Mondays: https://www.youtube.com/playlist?list=PLiZj-Ik9MmM2HwduoMCpvZRhd2qE22Fg- * Tues - Tech Tuesdays: https://www.youtube.com/playlist?list=PLiZj-Ik9MmM3NGvdl33mEwdUdr19zti9s * Thurs - Thankful Thursdays: https://www.youtube.com/playlist?list=PLiZj-Ik9MmM2Scsq-0Er3mA8U3Kqz9fiV * Fri - Famous Fridays: https://www.youtube.com/playlist?list=PLiZj-Ik9MmM30QoA2ygo5RWzfQm8y7ScL * Sun - Famous Failures: https://www.youtube.com/playlist?list=PLiZj-Ik9MmM2aeaKPqI5ILrNcLjbQZDob * Your Questions - Every day! Help us caption & translate this video! http://amara.org/v/FyN4/
Views: 1329849 Evan Carmichael
2017 Step-By-Step: How To Establish An LLC/ Business For $50!
 
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Arizona CC Link: http://ecorp.azcc.gov/Entity EIN# LINK: https://www.irs.gov/ Please note i am not a professional with setting up LLC or businesses. please contact a legal professional before setting up your business. In todays video i help you understand how to set up and establish an LLC, its the least expensive way according to my knowledge and i hope you all enjoy! Thank you so much for the support, I'd like to welcome anyone with any questions to message me as i would love to be a part of your success. If you have any suggestions for future videos such as Day Trading, Investing, Stock Market, Realestate, Car Sales, Robinhood, TD Ameritrade, Fidelity, Entrepreneurship, Forex, Online Marketing, Online Sales or fun daily vlogs. Please let me know. For those who are interested in Trading & Investing, I encourage you to join my Facebook Team of over 29,000 Entrepreneurs for free! Link: https://www.facebook.com/groups/206449886400926/ Techbuds Instagram: https://www.instagram.com/techbudsolutions/ Ricky's Instagram: https://www.instagram.com/rickygutierrezz/ Do You Want To Live In One Of My Entrepreneural Homes? Sign up: https://www.milkyassets.com/ Want to Rent a car on Turo, Get $25 Off: https://turo.com/c/rickyg37 DISCLAIMER: Please note that i do not charge for any of my services or ask for any information. I always encourage our members to trade ONLY what you understand and never based on anyone's opinion. My videos are for entertainment purposes only.
Views: 42083 Ricky Gutierrez
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: 54143 Genesis Business
How to Pay Yourself in a Single Member LLC
 
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In today's video, I share with you the proper method to pay yourself if you own a Single Member LLC. Single Member LLC's are one of the most powerful and flexible legal entities that most online entrepreneurs use to protect not only their business, but also their personal assets. However, if you don't set up the LLC properly, it won't provide you any protection at all. Today we talk about how to pay yourself if you have set up a Single Member LLC. This will be especially helpful for you solopreneurs out there who are building businesses on the side. I've written a more in depth blog post on this issue at my website: http://bit.ly/2a2GMYy Some of the links below are affiliate links. If you purchase through these links, it won't cost you any additional cash, but it will help to support my channel. Thanks! To start your own LLC, click here: http://hawthornlaw.net/incorporate Click here for an operating agreement template that you can use for your LLC: http://www.hawthornlaw.net/llc-operating If you need to get a hold of me, you can schedule a call using this link: https://hartlawfirm.as.me/legal-coaching **Unless you are a legal or private coaching client, I do NOT respond to emails or contact form submissions.** To sign up with a payroll service I use and love, click here: http://hawthornlaw.net/payroll Need more information on starting a business? Download our cheatsheet here: https://www.hawthornlaw.net/cheatsheet Want the Ultimate Business Building Checklist? Click here: https://www.hawthornlaw.net/ultimate I use Vidiq to optimize my videos, here is an affiliate link if you would like to support me and sign up for their free plugin: https://hawthornlaw.net/vidiq This video is for entertainment and informational purposes ONLY and should NOT be considered legal advice. By watching a video or commenting on a video, we are not forming an attorney-client relationship. If you need specific legal advice, please ask an attorney in your state.
Views: 245191 Hawthorn Law
What is an LLC? - Form an LLC (1/11)
 
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▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ In this video, we explain: - What is an LLC - Why form an LLC? - Protecting your personal assets - Speaking the LLC language - LLCs vs Corporations [=================================] -- WHAT IS AN LLC? -- LLC stands for Limited Liability Company. An LLC is a legal entity that protects your personal assets if your business is sued. An LLC is a Limited Liability Company. It is a legal entity (business structure) that is created by state law. An LLC can be used to run a business, or it can be used to hold assets (such as real estate, vehicles, boats, or aircraft). LLC Owners Are Called "Members" The owners of an LLC are called "members". An LLC can be owned by one person (called a Single-Member LLC). Or an LLC can be owned by two or more people (called a Multi-Member LLC). The LLC is created by filing LLC Formation Documents with your State and paying the filing fee. [=================================] -- WHY FORM AN LLC? -- The #1 reason to form an LLC is for personal asset protection. By forming an LLC you create a “protective wall” between your business and your personal assets. Your personal assets include everything that you own: your home, cars, trucks, bank accounts, investment properties, boats, jewelry, etc. -- AN ATTACK ON YOUR ASSETS -- If your LLC is sued, creditors can only attack the assets of your LLC to settle those business debts and liabilities. Your personal assets are safe and secure. They are not considered a part of the business. Again, without forming an LLC, your personal assets are at risk if your business is sued. [=================================] -- SPEAKING THE LLC LANGUAGE -- There are two common mistakes people make when talking about LLCs. "I want to form a Limited Liability Corporation." You cannot form a Limited Liability Corporation. There is no such thing. An LLC is a Limited Liability Company. Or “I’m going to LLC myself.” Again, this is incorrect. You cannot do that. You can't "LLC yourself". But, you can form an LLC for your business. An LLC is "separate and apart" from you. It is not you. You form the LLC. Then you own and manage that LLC. It's important that you understand the difference in these terms so you don't sound like an idiot and can speak intelligently about your business. [=================================] -- LLC vs CORPORATIONS - THE BASICS -- A lot of people ask us if they should form an LLC or form a Corporation. Let's discuss the major differences. LLCs don't have to elect a board of directors; Corporations do. LLCs don't need to hold board meetings; Corporations do. LLCs don't have to keep records of all their meetings; Corporations do. LLCs are not subject to double taxation; Corporations are. LLCs can distribute profits however they want; Corporations can't. In short, LLCs are the most popular and the most flexible business structure for business owners, entrepreneurs and real estate investors. LLCs are also inexpensive to setup. You'll pay a one-time filing fee to... [=================================] For the full article, please visit: http://llcuniversity.com [=================================]
Views: 66968 LLC University
LLC Formation for Small Business - How to, Start Now
 
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How to get an LLC for your business http://www.smallbusinessy.com/how-to-form-llc/ According to the IRS, the purpose of an LLC is to 'provide the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership.' For startups, the term LLC may indicate "big company" or something expensive and time consuming. Well, that's not really the case anymore. Forming an LLC is easier and more affordable than ever, and there are advantages to forming an LLC from the getgo. Entrepreneurs form an LLC to limit personal liability and save money on taxes. As a pass-through entity, all profits and losses pass through the LLC to the owners. Once formed, the LLC exists as a separate legal entity. It exists under the law and has its own Employer Identification Number (EIN). The LLC provides owners with a limited personal liability for corporate actions -- generally limited to the amount of your investment. The LLC also avoids double-taxation which happens when you form your business as a corporation. Double taxation occurs when a company's profits are taxed, then are taxed again when the profits are paid out to the owners/shareholders. Other benefits of forming an LLC are: • Increased Credibility • Deductible employee Benefits • Facilitation of raising capital • And a separate liability for corporate debts To form an LLC, you'll need to: • Select a business name and file an "articles of organization" with your state and.. • Pay a $100-$800 fee(depending on your state) There are additional requirement which vary by state. Those can include an: • Making an Operation agreement • Appointing of a registered agent • A Statement of Information • Publication requirements The process can be complicated and risky to do on your own. Corporate lawyers can be hired to assist in the process for $200-500 an hour. If you wan to save some money, but still get guidance and assistance, there are online services which charge $100 or less, and will greatly assist with your basic LLC formation. Head on over to http://smallbusinessy.com for reviews on online LLC submission and learn more about forming an LLC, selecting software, internet marketing and more. http://youtu.be/sFusav8H8Ys
Views: 405 Smallbusinessy.com
Sole Proprietor VS. LLC | What is a Limited Liability Company? | How to Start a Business
 
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Let's look at two common legal structures used to start businesses, as well as the major drawback of one (and advantage of the other). Please watch the entire video before commenting, as some of your questions may be answered later on. Also, sorry for the grainy quality, that is a result of poor lighting. I am not used to shooting indoors! :) Copper Creek Cuts is a lawn care and landscaping business in Florida with a family-friendly YouTube channel! Want to support the channel? Here are a few ways you can do so financially: Copper Creek Cuts Logo Vinyl Decal Sticker (3.6" X 4") - Email [email protected] to purchase these $5 logo stickers. Lock N Lube Affiliate Link: http://bit.ly/2Pxyb3Q Patreon: https://www.patreon.com/coppercreekcuts A small monthly contribution gets you access to Patreon only posts, videos and giveaways. Contact me: [email protected] 2018 Lawn Care Setup: 2018 Chevy Colorado WT 2016 Peach Cargo 5x10 Enclosed w/V-Nose & Side Door 2017 Bobcat QuickCat 36" Stander 2016 Big Dog Alpha 36" Zero-Turn ECHO PAS2620 Power Base ECHO 58V Power Base Poulan Pro PP25SFA Power Base ECHO Pro-Torque Trimmer Attachment ECHO Straight-Shaft Edger Attachment ECHO Articulating Hedge Trimmer Attachment ECHO 3 Foot Extension Attachment Poulan Pro Pole Saw Attachment ECHO SRM-3020U ECHO PB770T Blower ECHO PB8010 Blower ECHO HC150 Hedge Trimmer ECHO 58V Hedge Trimmer Worx 40V Hedge Trimmer DJI Spark GoPro Session 4 GoPro Hero (2018) Website: https://coppercreekcuts.wixsite.com/coppercreekcuts Facebook: https://www.facebook.com/coppercreekcuts/ Instagram: https://www.instagram.com/coppercreekcuts/ Patreon: https://www.patreon.com/coppercreekcuts
How to Start a Business. What is an llc? An S-Corp? Debby Miller - PhasesAccounting.com
 
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llc anybody? Want to know how to start a business? Here's how to Incorporate and Save Money on Taxes. In this video Debby Miller of Phases Accounting and Tax preparation shares her extensive experience setting up llc's, s-corps, and c-corps. All corporations for small businesses have their pluses and minuses. Here Debby Miller compares the pros and cons of forming a sole proprietorship, LLC, Sub S Corporation, and a Schedule C Corporation. When you are done watching this video you'll know what irs selection and irs forms are the right ones for you. Learn more at http://phasesaccounting.com Search Terms: llc how to start a business company corporation limited liability company incorporated s corp incorporation articles of incorporation company names selective incorporation c corp setting up a company what is a c-corporation what is an s-corp what is an llc irs forms
Views: 65107 BusinessHangouts
LLC Protection for Ebay & Amazon Sellers + Small Business
 
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Link to Nola Law- http://www.nolo.com/legal-encyclopedia/limited-liability-protection-llcs-a-50-state-guide.html Thanks for checking out my channel. Make sure to subscribe!! For 1 on 1 coaching Pricing & Availability Email me: Rockstarflipper @Gmail.com JOIN THE FREE FACEBOOK RESELLER GROUP- (questions answered 24/7 from members) https://www.facebook.com/groups/689595301181796/ VIP (paid) Facebook Group- https://www.facebook.com/groups/263997070772761/ *Ebay/Amazon Equipment Photo Lighting Kit- http://amzn.to/2mEdSQq Female Mannequin- http://amzn.to/2uEnCxS Male Mannequin- http://amzn.to/2slaFIw Photo Background- http://amzn.to/2xCBnBD Shipping Tape Gun- http://amzn.to/2s7rc6f Poly Mailers - http://amzn.to/2iVae2t Bubble Mailers - http://amzn.to/2iVcUgt Thermal Printer- http://amzn.to/2mqkhST Ebay/Amazon Scale- http://amzn.to/2hIF2r2 Video Game Cleaner- http://amzn.to/2jD08Iy *Youtube Equipment: Microphone (Blue Yeti Blackout)- http://amzn.to/2sAHTaU Microphone Pop Filter- http://amzn.to/2tKN6NU Logitech Webcam - http://amzn.to/2iZcLc7 Canon G7X II Vlog Camera- http://amzn.to/2ujOgwH Memory Card- http://amzn.to/2xBPDdD Flexi Tripod- http://amzn.to/2xBmuiL Back Up battery canon G7X- http://amzn.to/2wQ1cPG MacBook Pro- http://amzn.to/2xCaUEn (Disclosure, these are amazon affiliate links & I do get paid a small commission if you purchase using them) *My EBAY STORE- https://rover.ebay.com/rover/1/711-53200-19255-0/1?icep_id=114&ipn=icep&toolid=20004&campid=5338069183&mpre=http%3A%2F%2Fstores.ebay.com%2FTheElectronixZone1 *Our personal Vlog Adventure channel- https://www.youtube.com/channel/UCYDfKwFzkHmnTfkHe_G8QcA *FOLLOW ME ON SOCIAL MEDIA: Facebook.com/Rockstarflipper Instagram.com/Rockstarflipper Twitter.com/Rockstarflipper
Views: 4151 RockstarFlipper
Avoid Paying Taxes Legally!!! The Power of A Home-based Business
 
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Chinaza Duson, Small Business Tax Strategist, is also a highly sought after Tax Strategist empowering thousands w/advice on why the MUST own a homebased business. Now! Connect with me and START a legitimate homebased business TODAY: http://www.workwithcoachchi.com Chinaza Duson | 404.464.6733 | [email protected] www.certifiedtravelconsultant.com - my business of choice Text Chinaza to 40691 1st Email: [email protected] | 404.464.6733 | 2nd Email: [email protected] | 404.229.5566 - Secondary | NOT only am I #homebased business strategist, a certified tax preparer. I am a National Diamond Council Team Leader in Paycation Travel. We have the perfect vehicle to help you maximize on these amazing tax breaks I speak on here! Contact me today to get started http://www.browngirlgone.com ---- (travel blog) http://www.goodgirlstravel.com (the best tax deductible business) http://www.truthinduced.biz (www.yourtaxgirl.com)
Views: 420601 Chinaza Speaks
LLC vs S-Corp - What You Need to Know
 
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Are you trying to figure out the pros and cons of an LLC vs S-Corp - Today we talk about how they differ and how to know which might be right for your business. We also some of the tax benefits of an s-corp election vs. maintaining an LLC as a disregarded entity. If you are operating as a limited liability company and are wondering whether you should make an election as an s corporation, then this is the video for you. Some of the links below are affiliate links. If you purchase through these links, it won’t cost you any additional cash, but it will help to support my channel. Thanks! To start your own LLC, click here: http://hawthornlaw.net/incorporate Click here for an operating agreement template that you can use for your LLC: http://www.hawthornlaw.net/llc-operating If you need to get a hold of me, you can schedule a call using this link: https://hartlawfirm.as.me/legal-coaching **Unless you are a legal or private coaching client, I do NOT respond to emails or contact form submissions.** To sign up with a payroll service I use and love, click here: http://hawthornlaw.net/payroll Need more information on starting a business? Download our cheatsheet here: https://www.hawthornlaw.net/cheatsheet Want the Ultimate Business Building Checklist? Click here: https://www.hawthornlaw.net/ultimate I use Vidiq to optimize my videos, here is an affiliate link if you would like to support me and sign up for their free plugin: https://hawthornlaw.net/vidiq This video is for entertainment and informational purposes ONLY and should NOT be considered legal advice. By watching a video or commenting on a video, we are not forming an attorney-client relationship. If you need specific legal advice, please ask an attorney in your state. #llc #smallbusinesstaxes #scorp
Views: 21795 Hawthorn Law
How to File Taxes as a Single Member LLC
 
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In today's video, I wanted to share with you how to file taxes as a Single Member LLC. This is a user question, and it's a great question, especially since the filing deadline is October 15th for people that requested an extension on their Federal Taxes. Some of the links below are affiliate links. If you purchase through these links, it won’t cost you any additional cash, but it will help to support my channel. Thanks! To start your own LLC, click here: http://hawthornlaw.net/incorporate Click here for an operating agreement template that you can use for your LLC: http://www.hawthornlaw.net/llc-operating If you need to get a hold of me, you can schedule a call using this link: https://hartlawfirm.as.me/legal-coaching **Unless you are a legal or private coaching client, I do NOT respond to emails or contact form submissions.** To sign up with a payroll service I use and love, click here: http://hawthornlaw.net/payroll Need more information on starting a business? Download our cheatsheet here: https://www.hawthornlaw.net/cheatsheet Want the Ultimate Business Building Checklist? Click here: https://www.hawthornlaw.net/ultimate I use Vidiq to optimize my videos, here is an affiliate link if you would like to support me and sign up for their free plugin: https://hawthornlaw.net/vidiq This video is for entertainment and informational purposes ONLY and should NOT be considered legal advice. By watching a video or commenting on a video, we are not forming an attorney-client relationship. If you need specific legal advice, please ask an attorney in your state. #LLC #Taxes #OnlineBusiness
Views: 17532 Hawthorn Law
Why You Dont Need AN LLC to Start Your Business
 
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Forming an LLC is a great way structure a business. Especially a new one. However, contrary to popular belief, not everyone needs one. When I was first starting off in the world of self-employment and dealing with taxes… I thought that having a specific type of corporate structure would help me save money, make money, achieve all the goals I had set and more. Boy was I wrong. Therefore, in this video, your favorite Uncle/Cousin is going to share with you, what I wish someone would have told me before I started my business. If you have any questions… make sure to leave them in the comments below or find me on either one of these social media platforms: FaceBook: https://www.facebook.com/TheSelfEmployedTaxGuy Twitter: https://twitter.com/TheSETaxGuy Linkedin: https://www.linkedin.com/in/tyronegregory/ Instagram: https://www.instagram.com/theselfemployedtaxguy/ Looking forward to hearing from you! Click Here To Subscribe: https://www.youtube.com/c/TheSelfEmployedTaxGuy?sub_confirmation=1
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: 12105 The Business Channel
Advantages of an LLC | What is an LLC?
 
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http://www.widgetcpa.com Are you wondering what the advantages of an LLC are? Wondering what is an LLC, an S-Corp, Partnership or Sole Proprietorship? Check out the first in our series of small business advice vlogs and learn why you might consider the advantages of an LLC as your choice for choosing the entity of your company structure. Transcript: Welcome to another edition of Tuesday's Tidbits where we make tax and accounting simple. I'm Charles D Shapero, CPA with Widget Bookkeeping and Tax. And today we're gonna talk about the LLC. What is the LLC? Would you believe when it was first invented by the states, the IRS didn't know what to do with it. The LLC...is it a corporation, it has limited liability, is it a partnership? We don't know. Instead of writing a whole new code section segment about the LLC the IRS threw up their hands, and says "you know what" We're gonna allow the LLC to be whatever it wants to be. So by default, every LLC that has more than one member, husband/wife or multiple partners is considered a partnership per federal tax law, it will file a partnership tax return, if you have a single member that owns the LLC, you can't really be partners with yourself, so that's where the beauty in the LLC lies, the single member LLC is completely ignored for federal tax purposes, so you have an entity that you can have a bank account with, that you can have limited liability protection from anyone who is trying to sue you but you don't have to file a separate tax return so it saves you on accounting fees. The LLC's activity would go directly on your personal return, depending on what activity schedule C, schedule E but it's a great way to get your liability protection and not have to pay for an extra tax return. But it goes even further the LLC can say: we understand that we're a default partnership, but we don't want we want to be a sub-chapter S-corporation, the LLC can file form 2553 with the IRS and say IRS no, we do not want to be a partnership we want to be an S-Corp for tax purposes so please tax us like an S-Corp, the LLC can say and also fill out form 8832 the entity classification selection and say IRS we don't want to be a partnership we want to be a C-Corp now I don't recommend C-Corporations a lot but there are some circumstances where you might to be a C-Corporation. The LLC is a very flexible entity, its a great entity to get started because it can be ignored in the beginning and then elect S later when profits start to materialize And that my friends concludes today's tidbit See you next Tuesday! Widget Bookkeeping and Tax: Know More, Keep More.
Views: 40083 Charles Shapero
Starting a Limited Liability Company ( LLC) - Tax Benefits for Home Business | Mike Hobbs
 
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Download My FREE "4G Daily Marketing Plan" Here: http://www.mikehobbs.me/checklist Grab your free tax and business consultation Here: https://incitetax.com/free-tax-planning-sign-up/ In this interview we talk about How to start a Limited Liability Company and some of the LLC tax benefits you get for home business or small business entrepreneurs. This Guide to starting an llc is something that we recommend everyone go through even if you have not made any money yet. This process is as simple as starting an llc for dummies and if you are wondering: what is an llc? Look no further. Grab your free tax and business consultation here: https://incitetax.com/free-tax-planning-sign-up/ Connect With Mike Hobbs: Visit Mike Hobbs BLOG: http://whoismikehobbs.com Like Mike Hobbs on FACEBOOK: https://www.facebook.com/prosperwithmike Follow Mike Hobbs on INSTAGRAM: http://instagram.com/mikemhobbs Follow Mike Hobbs on TWITTER: https://twitter.com/mikehobbs For more tips on creating freedom from home subscribe to Mike Hobbs TV at: http://mikehobbs.tv Pick up Mike Hobbs "4G Daily Marketing Plan" so you can use to generate more leads in your online business here: http://www.mikehobbs.me/checklist -~-~~-~~~-~~-~- Please watch: "Why The Multi Level Marketing Failure Fate Is So High [Forbes Opinion] | Mike Hobbs" https://www.youtube.com/watch?v=ke5WrPJj43I -~-~~-~~~-~~-~-
Views: 43065 Mike Hobbs
How to Start an LLC in Texas
 
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Starting your own small business in Texas? To protect your personal assets and gain credibility, you should consider forming an LLC, or limited liability company. This video explains the two easiest ways to form an LLC: by doing it yourself, or by hiring a professional service. For complete details on how to form an LLC in Texas, visit: https://howtostartanllc.com/texas-llc Steps to forming your LLC in Texas 1) Name your LLC 🚀 Pro Tip: Make sure the web url you want is available before naming your LLC, use the link to get a discount: http://bit.ly/truic 2) Choose a Registered agent 3) File the Certificate of Formation 4) Create an LLC Operating Agreement ⚖️ Get free operating agreement templates or create a custom LLC operating agreement with our free legal form tool at: https://howtostartanllc.com/legal-forms 5) Obtain an EIN To research the top 5 LLC Formation Services, visit: https://howtostartanllc.com/reviews/llc-formation-top-five LLC's are one of the best ways for business owners to protect their personal assets. Visit our site to learn about LLC formation, and other useful information for starting a business in your state: Useful Resources 🔎 What is an llc: https://howtostartanllc.com/what-is-an-llc 🔎 Learn how to keep your Texas LLC compliant here: https://howtostartanllc.com/texas-llc#keep-your-company-compliant 🔎 Learn how to protect your LLC otherwise known as the corporate veil: https://howtostartanllc.com/maintain-llc-corporate-veil Please give us a like and subscribe if you appreciate our content! At TRUiC we are dedicated to providing the most useful information for small business owners, and would love to see your feedback in the comments on what other information you need to help follow your entrepreneurial dreams. #SmallBusiness #TexasLLC #HowToStartAnLLC #truic
Views: 4138 TRUiC
LLC vs S Corp: When NOT TO BECOME an S-Corporation
 
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LLC vs. S corp, whats better, and LLC or s-corporation or sub chapter s. https://feedbackwrench.com here at feedbackwrench, we get questions every day about whether someone should be an LLC taxes or sole proprietor, or if they should convert to an S corp through an S election. there are a couple of bottom-line reasons why you should not become an S corp and this video walks you through precisely when you should avoid becoming an S corp. remember, you won't want to become an S corp unless the tax benefits you receive are better than the cost for compliance. this video tells you two reasons you should not become an S corp and will help you understand how to make the right decision when deciding what kind of business entity you become.
Views: 44450 FeedbackWrench
4 Steps to Get all of the SECRET Tax Write-offs for Self-employed LLCs PART 1
 
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Get the Business Spreadsheet Template: www.amandarussell.mba/getthebusinessspreadsheet Most self-employed/LLC business owners feel like they're missing out on all the write-offs and tax planning they deserve. As a professional in this industry - I can tell you that people are right to feel this way - but the truth to getting all the write-offs you deserve, most likely isn't the answer you're expecting. In these 4 steps, I'll super simplify what you need to do, to not only get all the tax write-offs you deserve, but also grow your business! It's a win-win. See you in the video!
Views: 27606 Business Finance Coach
S-Corp VS LLC Partnership: How to Pay Less Tax!
 
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We take a look at the advantages of switching you LLC Partnership to an S-corp and how it will save you on your tax bill.
Views: 11080 The Business Shifu
Tax Benefits of an LLC Business - Why you NEED a LLC
 
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http://bit.ly/Wx85YD Download Expense Tracker App for Free -- http://www.taxorganizer.biz?affId=135911 For More Tax Help Videos Check Out -- http://ExpenseTrackerApp.net Tax Deduction rules on what you can and can't write off. Tax Benefits of an LLC Business - Why you NEED a LLC SUBSCRIBE to the Expense Tracker Channel to learn how to organize your business expenses so you can save your money on Taxes. Scott Estill is a Lawyer that specializes in helping you save money on big tax deductions. Whether you're an LLC, Sole Proprietor, S corporation or C corporation, Small business, Home business or big business these tips and tricks will benefit you. Be sure to down the Tax Organizer app available for iPhone or Droid, which help help you track and organize your expenses, leaving you better prepared for taxes. 0:01 before you go into business i think you should consider a lot of the the issues 0:05 that are associated with any running any sort of a business and one of the big 0:09 ones you're going to consider is going to be the tax elements of them 0:12 of running a business itself and i think the tax benefits of a business uh... 0:17 primarily are the fact that you're legally now entitled to be able to 0:21 deduct any business expense and a business expense for purposes of the tax 0:26 laws is considered to be any expense that's ordinary necessary in reasonable 0:31 for the business 0:33 and so what we're talking about here when when we talk about ordinary and 0:36 necessary 0:37 is just what the business expenses very common very helpful for your business 0:42 it's it's a similar type expense that other businesses would typically incur 0:46 and the reasonableness element comes into play because the iris wants to make 0:50 sure that whatever you're spending money on is quote on quote reasonable in the 0:54 circumstances 0:55 and i think if you follow those three rules and we'll get to other other of 1:00 the rules for certain types of expenses on other videos 1:03 but if you follow these rules and we have an expense that is helpful for your 1:06 business it's common for your business and it's a reasonable expense you can 1:11 feel feel pretty safe in claiming the deduction and now being able to offset 1:15 some of your otherwise taxable income 1:18 i found the tax organizer apt to be did a very important for a lot of my clients 1:22 it helps them keep their records together keep some organized 1:25 and that's why we're making the tax organizer apple bella before you as a 1:29 free download all you need to do this clip below 1:32 and try it out for yourself have nothing to lose
Views: 33419 ExpenseTrackerApp
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: 4877 The Business Channel
How to Start Your Own LLC or Corporation (It's Easier Than You Think!)
 
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http://retipster.com/mycorporation http://retipster.com/how-to-start-your-corporation-or-llc/ As most real estate investors know, there are a lot of “little challenges” to overcome when starting a new business. If you’re serious about taking the right steps in the beginning, one of the first things you’ll want to get squared away is the legal formation of your business entity. Most real estate investors (myself included) own their properties under the name of an LLC (aka – Limited Liability Company) and there are a few reasons why: - An LLC can protect your personal assets from business-related lawsuits. - An LLC has tax advantages that allow for “pass-through taxation” (whereas most other corporations are double-taxed). - An LLC offers instant credibility with many of your customers. Now let me be clear... I'm not trying to advise you on what type of legal entity you should form for your business. I'm not an attorney or an accountant (and even if I was - I have no idea what your goals and business objectives are). I'm not saying that you should copy what I'm doing in the instructions above, I'm just showing you one of the many ways it can be done. Forming your own corporation may sound like a complicated legal process, but it's actually quite simple and you can do it in a matter of minutes. With an online service like MyCorporation (see above), you can avoid the mind-numbing minutiae of trying to figure out the process in your state AND save yourself hundreds of dollars by allowing them to walk you through the process. An alternative option is to hire an attorney, since they can give you the best advice and make sure everything is being fine-tuned to fit your situation, but if you're on a shoestring budget (like I was in the beginning), a service like MyCorporation is probably your next best option. Here's a quick overview on how to do it... #realestate #retipster #sethwilliams #realestateinvesting #landinvesting
Views: 122134 REtipster
Small Business: How Do I Pay Myself in a Single-Member LLC
 
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This video helps answer some of the most basic, common questions about how to pay yourself in a Single-Member LLC.
Views: 2476 Ashley Cameron
Florida LLC - Filing Forms & Documents
 
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Step-by-step instructions: https://www.llcuniversity.com/florida-llc/forms/ To form an LLC in Florida, file your Articles of Organization with the Division of Corporations. Articles of Organization (you as Registered Agent): http://form.sunbiz.org/pdf/cr2e047.pdf Articles of Organization (Northwest Registered Agent): https://www.llcuniversity.com/wp-content/uploads/FL-LLC-Articles-of-Organization-NWRA.pdf If you are hiring a different Commercial Registered Agent (other than Northwest Registered Agent), you need to obtain their signature on your Articles of Organization before filing with Florida. [=================================] -- COMMERCIAL REGISTERED AGENT -- We recommend Northwest Registered Agent: https://www.llcuniversity.com/go/florida-registered-agent/ (using a Registered Agent offers a degree of privacy when forming your Florida LLC) [=================================] -- FILING FEE -- $125 (unless additional documentation is ordered) -- ACCEPTED FORMS OF PAYMENT -- Check or Money Order [=================================] -- FILING INSTRUCTIONS -- Mail Articles of Organization with your check or money order made payable to the “Florida Department of State” to: Registration Section Division of Corporations P.O. Box 6327 Tallahassee, FL 32314 [=================================] -- FLORIDA SECRETARY OF STATE -- 850-245-6051 http://sunbiz.org/ [=================================] -- NEXT STEP -- Once your LLC is approved you can proceed to the next Lesson: https://www.youtube.com/watch?v=XtmC8IlHAC0 [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 30468 LLC University
Start A Business (LLC) Online in North Carolina | NC's New Online Process
 
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North Carolina's new ONLINE process to start a Limited Liability Company (LLC) Secretary of State website: https://sosnc.gov/ Business Structure Basics: https://www.entrepreneur.com/article/75118 Choose business structure best for you: http://smallbusiness.findlaw.com/incorporation-and-legal-structures/business-structures-which-one-is-best-for-your-business.html https://www.nerdwallet.com/blog/small-business/business-structure/ FREE small business advice: https://edpnc.com/start-or-grow-a-business/start-a-business/
Views: 4831 Engineered Mojo
Small Business Tax Advice and Tax Deductions
 
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The absolute most Important Tax Planning Strategy/Tool You NEED. This is a Cornerstone to Business planning and preparation. This will Change the way you OPERATE. Please watch and share with Anyone You care about. This Tax Advice is perfect for small business. Tax Relief and Tax deductions reviews. DirtMonkeyU.com and DirtMonkeyUniversity.com The Landscape Business Pro Podcast- The Voice of the Landscaping and Construction Industry. http://landscapebusinesspro.com Genadek Landscaping and Excavating genadek.com GT Lawn Maintenance GTLawns.com Linked In- Hit me up! https://www.linkedin.com/profile/preview?vpa=pub&locale=en_US Twitter: https://twitter.com/LBPpodcast Facebook: https://www.facebook.com/stanley.genadek Email: [email protected] Dirt Monkey: https://dirtmonkey.net Links to Episodes of Landscape Business pro: Greg Chism Geek to Freak Fitness and Lawn Care https://www.youtube.com/user/geektofreakfitness http://landscapebusinesspro.com/geek-to-freak-greg-chism-monetizing-youtube-videos/ Jonathan Pototschnik The Lawn Care Millionaire http://lawncaremillionaire.com http://landscapebusinesspro.com/jonathan-pototschnik-how-to-become-a-lawn-care-millionaire/ Brian Shain Top Notch Lawns https://www.youtube.com/user/TopNotchLawns http://landscapebusinesspro.com/brian-shain-of-top-notch-lawns/ Jordan Harbinger The Art of Charm https://itunes.apple.com/us/podcast/art-charm-confidence-relationship/id212382281?mt=2 http://theartofcharm.com http://theartofcharm.com/best/ http://landscapebusinesspro.com/jordan-harbinger-the-art-of-charm/ Keith Kalfas The Landscape Employee Trap https://www.youtube.com/user/TheEmployeeTrap LandscapingEmployeeTrap.com http://landscapebusinesspro.com/keith-kalfas-landscaping-employee-trap/ Mike Michalowicz http://www.mikemichalowicz.com Profit First, Pumpkin Plan, The Toilet Paper Entrepreneur http://landscapebusinesspro.com/mike-michalowicz-profit-first/ John Lee Dumas Entrepreneur on Fire http://www.eofire.com http://podcastersparadise.com http://landscapebusinesspro.com/john-lee-dumas-entrepreneur-on-fire/ More guests: Vanessa Van Edwards The Science of People, John Gray Men are From Mars Women are from Venus, Certified Contractors Network, Jennifer Kahnweiler: The Introverted Leader, Quiet Influences, The Genius of Opposites, Barry Moltz, YardBook, Aaron Walker
Small Business Advice: How To Form A Limited Liability Company LLC
 
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The limited liability company, or LLC, is the most popular form of business entity, primarily because it offers the limited liability of a corporation and the tax structure of a partnership. Is an LLC the best form of business entity for you? Find out here. TIM KNOX WEBSITE http://timknox.com INTERVIEWING AUTHORS PODCAST http://interviewingauthors.com LET'S CONNECT http://www.facebook.com/timwknox https://twitter.com/timknox https://www.linkedin.com/in/timwknox SUBSCRIBE TO TIM'S YOUTUBE CHANNEL: https://www.youtube.com/user/timwknox EMAIL TIM: [email protected]
Views: 202 Tim Knox
Best State to Form an LLC? - Form an LLC (4/11)
 
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▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ It's best to form your LLC in your home state. The disadvantages of forming an LLC outside of your home state far outweigh the perceived "advantages". [=================================] -- DOMESTIC LLC vs. FOREIGN LLC -- If you form an LLC in the state where you reside (aka your "home state"), this is known as a Domestic LLC. If you form an LLC outside of your home state, you'll be required to register that out-of-state LLC as a Foreign LLC in your home state. For example, if you form an LLC in Nevada (but you don't live there), then you'll be required to register that Nevada LLC in your home state (as a Foreign LLC) in order to do business in your home state. This means: - you now have 2 LLCs (one in Nevada and one in your home state) - you have to pay 2 State filing fees - you will be required to pay for a Registered Agent in order to use their address for your Nevada LLC - You have to pay 2 Annual Report fees (Note: we used Nevada above as an example, but the same applies to any out-of-state LLC.) In short, this can easily add up to DOUBLE the cost and DOUBLE the headaches since you have to maintain 2 LLCs. Now, we know the reason that most people become interested in Nevada LLCs is because they think they are going to save money on taxes. [=================================] -- TAXES ARE PAID WHERE MONEY IS MADE -- Many people are misled into forming LLCs in other States to take advantage of "tax savings". This is simply not true. In this example, if you formed a Nevada LLC and that LLC is doing business in your home state (not in Nevada), you'll still need to pay taxes in your home state because that is where you are making money. A helpful saying to remember is: "Taxes are paid where money is made." Again, your Foreign LLC will need to pay taxes in your home state since that is where you are operating and doing business. Even worse, you may owe additional taxes and fees in Nevada. So why do so many websites talk about Nevada? Great question. [=================================] -- NEVADA -- Again, most of the benefits of forming an LLC outside your "home state" are a far stretch from the truth. Both the states themselves and the companies promoting those states stand to gain financially by LLCs being created within THAT state's borders. For example, if 40,000 LLCs are formed each year in Nevada, that's approximately $3 million dollars in annual revenue for the state. And that is just for the state of Nevada alone. It doesn't include the tens of millions of dollars made by the companies promoting Nevada as "the" place to form your LLC. The funny thing is, compared to how much Nevada is "hyped up", there really aren't that many LLCs formed there each year. There are far more LLCs formed states that aren't "hyped-up". Furthermore, Nevada companies rank the highest in fraudulent activity. Look - don't get us wrong, if you live in Nevada and you're forming your LLC in Nevada, there is nothing wrong with that. But if you don't live in Nevada, again, it is much better to form your LLC in your home state. So what about Wyoming? [=================================] More videos at: http://llcuniversity.com [=================================]
Views: 51219 LLC University
Tips for Opening a Business Checking Account (What to Ask BEFORE You Open It)
 
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When considering a business checking account there are a bunch of things they won't tell you and you may not know to ask about. There are a lot of tips in this video to know when opening a business checking account. M Y G E A R M Y B A B Y - https://amzn.to/2HJ85nA F A V E M I C - http://amzn.to/2fgB60s E V E N C H E A P E R M I C - https://amzn.to/2FuCcgg CONNECT WITH ME ONLINE! https://www.DianaGladney.com https://www.facebook.com/CoachDianaGladney *all links should be considered affiliate links. Using these links helps support this content. I always encourage you to shop around for the best prices at the time you are viewing this. You can read my ethics statement via http://bit.ly/EthicsStmnt. Thanks for the support!
LLC vs Corporation
 
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Explanation of factors that go into deciding whether to form an LLC vs Corporation.
Views: 60723 LegaLees
How to Pay Yourself in a Single Member LLC (2019 Update)
 
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HOW TO PAY YOURSELF IN A SINGLE MEMBER LLC (New and Updated for 2019) // A couple of years ago I published a video on how to pay yourself in a single member LLC - and this became one of my most popular videos on the channel. This week I thought I would kick off a new series that discusses the operation of an LLC by re-answering this all-to-common question and explain how to pay yourself as a business owner. Whether you are a small business owner or an online entrepreneur, this video will help you understand the mechanics behind paying yourself as well as how much to pay yourself. To download a copy of our business building checklist, click here: https://www.hawthornlaw.net/ultimate 📹 Videos mentioned in the video: How to set up Profit First for your LLC https://youtu.be/n9n5di0Y9J4 TWEET THIS VIDEO: https://ctt.ac/1eLra Say Hi on social: Twitter: https://twitter.com/hawthornlg Instagram: http://instagram.com/myonlinebizlawyer/ Join us on Facebook: https://www.facebook.com/groups/1397535957212335/ BLOG POST URL: https://www.hawthornlaw.net/how-to-pay-yourself-llc Some of the links below are affiliate links. If you purchase through these links, it won’t cost you any additional cash, but it will help to support my channel. Thanks! To start your own LLC, click here: http://hawthornlaw.net/diy-llc Click here for an operating agreement template that you can use for your LLC: http://www.hawthornlaw.net/llc-operating If you need to get a hold of me, you can schedule a call using this link: https://www.hawthornlaw.net/coaching **Unless you are a legal or private coaching client, I do NOT respond to emails or contact form submissions.** My preferred payroll vendor - click here to get a $100 credit: https://www.hawthornlaw.net/payroll To get your copy of Profit First: https://amzn.to/2W1ZJmh I use Vidiq to optimize my videos, here is an affiliate link if you would like to support me and sign up for their free plugin: https://hawthornlaw.net/vidiq YOUTUBE URL: This video is for entertainment and informational purposes ONLY and should NOT be considered legal advice. By watching a video or commenting on a video, we are not forming an attorney-client relationship. If you need specific legal advice, please ask an attorney in your state.
Views: 1519 Hawthorn Law
Sole Proprietorship vs LLC
 
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The sole proprietorship vs. LLC discussion often centers on business liabilities but your personal liabilities are just as important in the discussion.
Views: 58232 LegaLees
Tax Implications of a LLC -- Small Business Tax Tip
 
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http://www.nchinc.com/ A Limited Liability Company or LLC, is a hybrid type of legal structure that provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership. The profits and losses pass directly through to shareholders, thus avoiding the potential double taxation of a corporation. LLC members report profits and losses on their personal federal tax returns, just like the owners of a partnership would. The main benefit is that an LLC also protects the owner and partners from liability for the business's debts and actions. Note that an LLC is not a tax entity itself; rather, it allows the owner to choose which tax entity is preferred. From a practical standpoint, however, there are limited situations where an LLC would choose to be taxed as a corporation. For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Should I incorporate as an LLC, S-, or C-corp? | WSGR Startup Basics
 
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In this "Startup Basics," Jason sits down with special guests, WSGR attorneys Rachel Proffitt and Todd Carpenter, who give us in-depth advice on the legal aspects of getting your startup off the ground. In this episode Todd and Rachel address the following critical question: If I'm starting a tech company, what type of corporation should I make -- an LLC, S-, or C-corp? Tune in to find out! Never miss an episode! Subscribe in iTunes: Audio (http://bit.ly/TwiStA) || Video (http://bit.ly/TwiStV) Support the show by thanking our sponsor, Wilson Sonsini on Twitter: http://ctt.ec/4x2Af Follow on Twitter: http://twitter.com/jason http://twitter.com/twiStartups http://twitter.com/wilsonsonsini Launch Ticker: http://launch.co Launch Festival: http://festival.launch.co Special thanks to the members of the TWiST Backchannel Program!
Views: 65575 This Week In Startups
LLC vs. S Corp - 2 Tax Reduction Strategies for S-corps different than anything else you'll hear
 
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Https://feedbackwrench.com if you're looking for ways to reduce your taxes are how to avoid taxes with your company, these are two different ways that you can drastically reduce your taxes with an s corp. these ideas are not something small, I'm telling you that investing in duplexes and the correct solo 401K can provide tens of thousands and tax savings and can help you transfer money from the government over to yourself. watch this video If you're looking for something to reduce your taxes and trying to find new tax deductions for your small business. If you're looking for tax beneficial investments or different investments that are tax-advantaged, these are it. this is also incredibly helpful if you're trying to study the difference between an LLC and an s corp, and you're looking for ways to reduce your self employment and social security taxes.
Views: 11875 FeedbackWrench
LLC Federal Tax ID Number (EIN)
 
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*IMPORTANT: Make sure your LLC is approved BEFORE applying for an EIN. If you do the EIN first, you’ll be attaching the EIN to yourself personally (as a Sole Proprietorship)... and therefore, your personal assets will not be protected. IRS Online EIN Application: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online Our website: https://www.llcuniversity.com [=================================] -- WHAT IS AN EIN (FEDERAL TAX ID NUMBER)? -- A Federal Tax ID Number is issued by the IRS to business entities. It is also known as an EIN, or Employer Identification Number. For simplicity, we will refer to it as the EIN. An EIN is to a business what a Social Security Number is to an individual. It basically identifies your LLC to the IRS. Even though it is called an Employer Identification Number, it does not mean that you have to have employees. [=================================] -- WHAT IS ARE EINs USED FOR? -- EINs are used for: – Opening business checking, savings, or investment accounts. – Filing taxes. – Handling employee payroll (if applicable). – Obtaining business lines of credit or business loans. – Obtaining credit cards in the name of the LLC. – Applying for business licenses. [=================================] -- WHAT DOES AN EIN LOOK LIKE? -- An EIN is similar to a Social Security Number in that it has 9 digits. To differentiate an EIN from an SSN, there are 2 digits followed by a hyphen and then 7 more digits. An EIN will look like this: 68 – 3302189 [=================================] -- HOW MUCH DOES AN EIN COST? -- An EIN is free. You can obtain an EIN from the IRS: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online (unfortunately, many websites charge $50 – $100) [=================================] -- ALREADY HAVE AN EIN? -- If you already have an EIN (before forming your LLC), it’s most likely attached to a Sole Proprietorship. This is quite a common mistake. You’ll need to close out that EIN and get a different one for your LLC (after your LLC is approved). Here’s how to close out an EIN: https://www.llcuniversity.com/cancel-ein/ [=================================] -- QUESTIONS DURING APPLICATION -- If you have any questions or if there are any errors messages that appear during your EIN online application, please contact the IRS at 800-829-4933. You can find additional IRS phone numbers at this link: https://www.irs.gov/uac/telephone-assistance [=================================] -- FOREIGN NATIONALS & ITIN -- If you are a foreign national and you need to apply for your ITIN please see the following information on the IRS’s website: https://www.irs.gov/Individuals/Individual-Taxpayer-Identification-Number-ITIN [=================================] -- OPENING A BUSINESS BANK ACCOUNT -- You will need your EIN and your approved LLC documents (Articles of Organization, Certificate of Organization, Certificate of Formation, etc) to open a business checking account. [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 141287 LLC University
Should You Include Your Spouse When Forming a Small Business LLC?
 
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In this video I talk about a couple of reasons why you may not want to have your spouse included in your LLC. But every situation is different so it's important to get the advice of an accountant and business lawyer.
Views: 4312 RushonBusiness
Business Advice : How to Form an LLC
 
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In order to form an LLC, an individual must file articles of organization with the secretary of state. Form an LLC with tips from a certified adviser on small business in this free instructional video on starting a business. Expert: Paula Roberts Bio: Paula Roberts is the executive director of the Tennessee State University Small Business Development Center. Filmmaker: Dimitri LaBarge
Views: 43330 eHow
How to Form an LLC in Colorado (the 5 steps)
 
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➡ Full article: https://www.llcuniversity.com/how-to-form-an-llc-in-colorado/ Starting a Colorado LLC: The main reason why people form an LLC in Colorado is to protect your personal assets. A Colorado LLC, or Limited Liability Company, is a type of business entity formed under Colorado law. An LLC gives you personal liability protection in case your business gets sued. A Colorado LLC can run a business, hold assets (like real estate, boats, planes, and other vehicles), make money, own and lease property, enter into contracts, open a bank account, and sue and be sued. A Colorado LLC creates a wall of protection between your business and personal assets. Your personal assets are protected in the event your business gets sued. There are 5 steps to forming an LLC in Colorado. They are: 1. Choose a Name for your LLC 2. Select your LLC’s Registered Agent 3. File your LLC’s Articles of Organization 4. Draft and sign your LLC’s Operating Agreement 5. Get your LLC’s EIN (Employer Identification Number) To make sure your LLC remains in good standing with the State after it’s been formed, you’ll need to: • Filing your LLC’s Periodic Report (due every year) • Paying your LLC’s Taxes Continue reading: https://www.llcuniversity.com/how-to-form-an-llc-in-colorado/ /---------------------------------------/ -- QUESTIONS -- Ask any LLC question here: https://www.llcuniversity.com/ask-llcu/ -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 15751 LLC University
Ross Blankenship Reveals | LLC vs. Inc: Differences & How to Incorporate - RossBlankenship.com
 
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https://www.ihbooks.com/ross-blankenship | Amazing review on Ross Blankenship, and Blankenship's analysis of LLC vs. Inc (C-Corp): which should you choose or select? (https://clarity.fm/rossblankenship) How to incorporate the right way deciding between a limited liability company "LLC" or a C-Corp: http://angelkings.com/llc-vs-inc-incorporate. Learn from the startup expert Ross Blankenship (https://angel.co/ross-blankenship). Ross compares and contrasts the benefits of an LLC versus a C-Corporation, further differentiating between an LLC which can be elected as an S-Corporation under the IRS' tax code laws. New business entities and startups need to understand the differences and rules for incorporating. What is the difference between LLC and S Corp? Limited liability companies (LLCs) and C-Corporations are completely different and you'll be smarter knowing how they work before you incorporate! #LLC #Inc #RossBlankenship #Incorporate Follow the startup expert, and venture capital investor: https://www.linkedin.com/in/rossblankenship https://twitter.com/RossBlankenship https://medium.com/@rossblankenship
How are LLCs Taxed in 2019?
 
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Taylor Mathis, the KEYTLaw girl, explains in detail the four ways that limited liability companies can be taxed in 2019. The four tax methods are sole proprietorship (for one owner LLCs and LLCs owned only by a married couple as community property), partnership (if there are two or more owners), C corporation and S corporation (if the LLC is eligible). Here is a link to the IRS Form 1040 also Schedule C: https://www.irs.gov/pub/irs-pdf/f1040sc.pdf Here is a link to the IRS Form 8832: https://www.irs.gov/pub/irs-pdf/f8832.pdf Here is the link to the IRS Form 1120: https://www.irs.gov/pub/irs-pdf/f8832.pdf Here is the link for IRS Form 2553: https://www.irs.gov/pub/irs-pdf/f2553.pdf Here is the link for the Instructions for the IRS Form 2553: https://www.irs.gov/pub/irs-pdf/i2553.pdf Here is a link to the IRS Form 1065: https://www.irs.gov/pub/irs-pdf/f1065.pdf Here is the link to the Instructions for the IRS Form 1065: https://www.irs.gov/pub/irs-pdf/i1065.pdf Here is the link to the article that goes with this video: https://www.keytlaw.com/azllclaw/forming-llcs/llc-tax-methods/ If you have questions about forming or operating Arizona LLCs enter a comment below and Arizona LLC attorney Richard Keyt will answer or respond. Learn more about forming and operating Arizona LLCs at: https://www.keytlaw.com/azllclaw See the contents of our three LLC formation packages: the Bronze ($397), Silver ($597 - most popular) and Gold $997 (for people who want to keep their name and address off the public records of the Arizona Corporation Commission) at: https://www.keytlaw.com/packages To hire us complete our online LLC formation questionnaire at: https://www.keytlaw.com/azllclaw/llcq You may also call Rick (the father) at 480-664-7478 or Ricky (the son) at 480-664-7472 and give your information over the phone. ========================================­==== SUBSCRIBE to our Channel for More Videos: https://www.youtube.com/user/keytlaw ============================================ Call Richard Keyt at 480-664-7478 See his bio at https://goo.gl/vS2J78 Call Richard C. Keyt at 480-664-472 See his bio at https://goo.gl/XmgZzZ ========================================­==== KEYTLaw: https://www.keytlaw.com Arizona LLC law: https://www.keytlaw.com/azllclaw Arizona wills & trusts: https://www.keytlaw.com/arizonawills Facebook: https://www.facebook.com/keytlaw Twitter: https://twitter.com/azestateplanner Twitter: https://twitter.com/azattorney
Views: 7280 KEYTLaw