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Exploring business entity types | Small business | lynda.com
 
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So you want to start a small business. How should you structure it? Learn about business entity types such as sole proprietorships, partnerships, and corporations, and explore the benefits of each in this tutorial. Watch the follow-up movies at http://www.lynda.com/Business-Business-Skills-tutorials/Small-Business-Secrets/156584-2.html?utm_campaign=UEGkczPJJ9Q&utm_medium=social&utm_source=youtube-earned. This specific tutorial is from the Small Business Secrts series presented by lynda.com author Dave Crenshaw. This series covers small business topics such as getting started, writing a business plan, determining your most valuable product or service, hiring people, managing processes, documenting systems, bootstrapping, seeking funding, accounting, controlling costs and profit margins, marketing, creating culture, and more.
Views: 17398 LinkedIn Learning
Sole Proprietor, LLC, or Corporation? - All Up In Yo' Business
 
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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. Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 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: 196140 180 Law Co. LLC
What are the types of Business entities?
 
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Are all businesses the same? Are some small and some big? What are the types of business entities? LEARN MORE https://www.youtube.com/theaccountingstudent?sub_confirmation=1 ENJOYED WATCHING? MORE CONTENT LIKE THIS BELOW PLAYLISTS Types of Accounting and Business | https://www.youtube.com/playlist?list=PL3cdk_SU0v31oBFeAzZ7Vr3eQx8l_FyiM Introduction to Accounting and Bookkeeping | https://www.youtube.com/playlist?list=PL3cdk_SU0v31dP04X3WF6feHpZgS1rKPA The Financial Statements | https://www.youtube.com/playlist?list=PL3cdk_SU0v30pyxj0-2TeSn9svk2YstV9 The Accounting Equation | https://www.youtube.com/playlist?list=PL3cdk_SU0v322HgQ6FqYnUC-ilGgpDYpd VIDEOS What is a Business | https://www.youtube.com/watch?v=iBTTr-seEDo What is a Liability | https://www.youtube.com/watch?v=RZkSY6J9ll8 What is Capital | https://www.youtube.com/watch?v=jAe4Rwfw2Wg What is Auditing | https://www.youtube.com/watch?v=WcwxY_CDloE What is Accounting | https://www.youtube.com/watch?v=GvQ8Ey1lIpg CONNECT WITH US ON SOCIAL MEDIA Like us on Facebook | https://www.facebook.com/theaccountingstudent Tweet us on Twitter | https://twitter.com/theaccostudent Follow us on Google Plus | https://plus.google.com/u/0/105440586533082327728 CREDIT FOR BACKGROUND MUSIC Ben Fry Drums | https://www.youtube.com/channel/UCQfjnpDLuAzr0cnNgKTnhXw
How Pass-Through Income Will Be Taxed In 2018 For Small Business Owners
 
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As a result of tax reform, starting in 2018, the new 20% Qualified Business Income deduciton will be available to small business owners. This video will review how the QBI deduction works, what entities are eligible, the phaseout ranges, the restrictions, and how services vs non-services businesses will be treated under the new tax rules.
Choosing The Entity That Best Fits Your Business Needs...
 
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When creating your business, you have four basic entity types you can choose to use. You can choose to be a Sole Proprietorship, this is the simplest option to start a business. Then you have General Partnership, S Corporation, C Corporation, and Limited Liability Company. Each one has its advantages and disadvantages, based on what you sell, your business's finances, and the number of owners the business will have. As a business owner you have to select the structure that best fits your business needs.
Views: 112141 You Can Reach J
Differences in Business Entities
 
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Check out Bas Rutten's Liver Shot on MMA Surge: http://bit.ly/MMASurgeEp1 http://www.mahalo.com/differences-in-business-entities/ Keith Hall, a registered CPA and small business owner with over 20 years experience is here to help you with your small business questions. In this video, Keith explains the difference between business entity forms. Check out the rest of our tax videos here: http://www.youtube.com/view_play_list?p=C90C48F4B15F6911 Check out the related Mahalo Pages: How to Avoid a Tax Audit: http://www.mahalo.com/how-to-avoid-a-tax-audit How to Check Your Tax Refund Status: http://www.mahalo.com/how-to-check-your-tax-refund-status How to File For a Tax Extension: http://www.mahalo.com/how-to-file-for-a-tax-extension How to File Taxes If You Haven't Filed in Years: http://www.mahalo.com/how-to-file-taxes-if-you-havent-filed-in-years How to File Taxes as a Gay Married Couple: http://www.mahalo.com/how-to-file-taxes-as-a-gay-married-couple How to Determine Your Tax Filing Status: http://www.mahalo.com/how-to-determine-your-tax-filing-status How to Choose the Right Tax Forms: http://www.mahalo.com/how-to-choose-the-right-tax-forms 1040ez Tax Form: http://www.mahalo.com/1040ez-tax-form How to Organize Tax Documents: http://www.mahalo.com/how-to-complete-a-1040ez-tax-form How to Set Up a Tax Payment Plan: http://www.mahalo.com/how-to-set-up-a-tax-payment-plan Check out more Mahalo playlists: 2011 Grammy Guitar Lessons: http://www.youtube.com/view_play_list?p=554B7E896F42D97C How to Cook: http://www.youtube.com/view_play_list?p=7016D638D52E3652 How to Bake: http://www.youtube.com/view_play_list?p=26285631199B5B14 Mahalo Daily Videos: http://www.youtube.com/view_play_list?p=4F1A4F3978CDD3EC How to Play the Xylophone: http://www.youtube.com/view_play_list?p=F1EFA91B8B5F3929 Green Living: http://www.youtube.com/view_play_list?p=3CA63D48E28E7759 How to Speak Russian: http://www.youtube.com/view_play_list?p=31098EC11EAF8623 Mahalo Travel: http://www.youtube.com/view_play_list?p=F348A1D1C148415D Learn Biology: http://www.youtube.com/view_play_list?p=16EB9E5F60FAD9BD How to Play Guitar Songs: http://www.youtube.com/view_play_list?p=BE077DEF7EB33D00
Views: 13138 mahalodotcom
Business Entities - Sole Proprietorship
 
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Check out Bas Rutten's Liver Shot on MMA Surge: http://bit.ly/MMASurgeEp1 http://www.mahalo.com/business-entities-sole-proprietorship/ Keith Hall, a registered CPA and small business owner with over 20 years experience is here to help you with your small business questions. In this video, Keith explains the benefits and pitfalls of choosing a sole proprietorship as your business entity. Check out the rest of our tax videos here: http://www.youtube.com/view_play_list?p=C90C48F4B15F6911 Check out the related Mahalo Pages: How to Avoid a Tax Audit: http://www.mahalo.com/how-to-avoid-a-tax-audit How to Check Your Tax Refund Status: http://www.mahalo.com/how-to-check-your-tax-refund-status How to File For a Tax Extension: http://www.mahalo.com/how-to-file-for-a-tax-extension How to File Taxes If You Haven't Filed in Years: http://www.mahalo.com/how-to-file-taxes-if-you-havent-filed-in-years How to File Taxes as a Gay Married Couple: http://www.mahalo.com/how-to-file-taxes-as-a-gay-married-couple How to Determine Your Tax Filing Status: http://www.mahalo.com/how-to-determine-your-tax-filing-status How to Choose the Right Tax Forms: http://www.mahalo.com/how-to-choose-the-right-tax-forms 1040ez Tax Form: http://www.mahalo.com/1040ez-tax-form How to Organize Tax Documents: http://www.mahalo.com/how-to-complete-a-1040ez-tax-form How to Set Up a Tax Payment Plan: http://www.mahalo.com/how-to-set-up-a-tax-payment-plan Check out more Mahalo playlists: 2011 Grammy Guitar Lessons: http://www.youtube.com/view_play_list?p=554B7E896F42D97C How to Cook: http://www.youtube.com/view_play_list?p=7016D638D52E3652 How to Bake: http://www.youtube.com/view_play_list?p=26285631199B5B14 Mahalo Daily Videos: http://www.youtube.com/view_play_list?p=4F1A4F3978CDD3EC How to Play the Xylophone: http://www.youtube.com/view_play_list?p=F1EFA91B8B5F3929 Green Living: http://www.youtube.com/view_play_list?p=3CA63D48E28E7759 How to Speak Russian: http://www.youtube.com/view_play_list?p=31098EC11EAF8623 Mahalo Travel: http://www.youtube.com/view_play_list?p=F348A1D1C148415D Learn Biology: http://www.youtube.com/view_play_list?p=16EB9E5F60FAD9BD How to Play Guitar Songs: http://www.youtube.com/view_play_list?p=BE077DEF7EB33D00
Views: 29438 mahalodotcom
HOW To START HOME BASED small BUSINESS 2018
 
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How to start home based business in 2018? Start small business from your home. 20 STEPS to Start HOME BASED BUSINESS - https://goo.gl/mAkuMK Do you want to start home based business then keep reading this video description. First of all, this video helped you and this video description will help you a lot for starting a home based businesses. Well, let's begin. In this modern age, their are millions of people are making huge amount of money from those home based business. Why! Because, they have skills, talent and the most important is, they implemented those skills and talent on consistent base until they paid. Running a potential and successful home based small business needs your hard afford. Let's take one example on it. Bob goes to data entry job at XYZ company and he is making $800 Per Month. Do you know bob works only 8 hours a day. Then, he is free for rest of 16 hours. Now bob started his home based business. He is working 12 hours + more on his home based small business. Bob is working more rather then his 8 hours previous job! Why? The reason behind it is, You must have to spend long hours when you just start your own home based small business. Do you know many people go on for hard work for first few weeks, or couple of months. But, when they doesn't found any type of growth in those home based small business then, they just thinking about changing his mind. Let me start with new idea and try to exprement it with my skills. They just skiping his previous ideas due to silly mistakes, lazyness or something that doesn't makes them happy. Well, if you won't able to work on consistent bases then, you're gonna fail forever in any business you start. So, Start a home based business is hard to do, But, if you are passionate about your work and business then, you'll do work for fun and you make good amount of money & success. Home based small business tips. 1. Get permit or license if your business required. 2. Your home or place must have insurance covered. 3. You must need to establish your legal structure and professional business practices. 4. Do you know about how to secure your home based small business? then, consider security. 5. Set up a business, business plan, marketing plan and financial plan. 6. You must need to commit to your success with yourself and your partners. What are the advantages of home based business? 1. Financial Savings. 2. Tax deductions. 3. Flexible schedule. 4. Convenience. 5. Passion for your work. 6. Greater sense of accomplishment. How to getting started with any home based small business? 1. Write a business plan. 2. Set up a business entity. 3. Understand home based business taxes. 4. Register your business name. 5. Get tax identification number. 6. Focus on taking insurance. If you've any questions for starting home based small business then, ask your questions on comment box. Thanks for watching how to start home based small business in 2017.
Business Entities - Partnership
 
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Check out Bas Rutten's Liver Shot on MMA Surge: http://bit.ly/MMASurgeEp1 Keith Hall, a registered CPA and small business owner with over 20 years experience is here to help you with your small business questions. In this video, Keith explains the benefits and pitfalls of choosing a Partnership as your business entity. Check out the rest of our tax videos here: http://www.youtube.com/view_play_list?p=C90C48F4B15F6911 Check out the related Mahalo Pages: How to Avoid a Tax Audit: http://www.mahalo.com/how-to-avoid-a-tax-audit How to Check Your Tax Refund Status: http://www.mahalo.com/how-to-check-your-tax-refund-status How to File For a Tax Extension: http://www.mahalo.com/how-to-file-for-a-tax-extension How to File Taxes If You Haven't Filed in Years: http://www.mahalo.com/how-to-file-taxes-if-you-havent-filed-in-years How to File Taxes as a Gay Married Couple: http://www.mahalo.com/how-to-file-taxes-as-a-gay-married-couple How to Determine Your Tax Filing Status: http://www.mahalo.com/how-to-determine-your-tax-filing-status How to Choose the Right Tax Forms: http://www.mahalo.com/how-to-choose-the-right-tax-forms 1040ez Tax Form: http://www.mahalo.com/1040ez-tax-form How to Organize Tax Documents: http://www.mahalo.com/how-to-complete-a-1040ez-tax-form How to Set Up a Tax Payment Plan: http://www.mahalo.com/how-to-set-up-a-tax-payment-plan Check out more Mahalo playlists: 2011 Grammy Guitar Lessons: http://www.youtube.com/view_play_list?p=554B7E896F42D97C How to Cook: http://www.youtube.com/view_play_list?p=7016D638D52E3652 How to Bake: http://www.youtube.com/view_play_list?p=26285631199B5B14 Mahalo Daily Videos: http://www.youtube.com/view_play_list?p=4F1A4F3978CDD3EC How to Play the Xylophone: http://www.youtube.com/view_play_list?p=F1EFA91B8B5F3929 Green Living: http://www.youtube.com/view_play_list?p=3CA63D48E28E7759 How to Speak Russian: http://www.youtube.com/view_play_list?p=31098EC11EAF8623 Mahalo Travel: http://www.youtube.com/view_play_list?p=F348A1D1C148415D Learn Biology: http://www.youtube.com/view_play_list?p=16EB9E5F60FAD9BD How to Play Guitar Songs: http://www.youtube.com/view_play_list?p=BE077DEF7EB33D00
Views: 38940 mahalodotcom
Business Entities - Limited Liability Company
 
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Check out Bas Rutten's Liver Shot on MMA Surge: http://bit.ly/MMASurgeEp1 Keith Hall, a registered CPA and small business owner with over 20 years experience is here to help you with your small business questions. In this video, Keith explains the benefits and pitfalls of choosing a Limited Liability Company as your business entity. Check out the rest of our tax videos here: http://www.youtube.com/view_play_list?p=C90C48F4B15F6911 Check out the related Mahalo Pages: How to Avoid a Tax Audit: http://www.mahalo.com/how-to-avoid-a-tax-audit How to Check Your Tax Refund Status: http://www.mahalo.com/how-to-check-your-tax-refund-status How to File For a Tax Extension: http://www.mahalo.com/how-to-file-for-a-tax-extension How to File Taxes If You Haven't Filed in Years: http://www.mahalo.com/how-to-file-taxes-if-you-havent-filed-in-years How to File Taxes as a Gay Married Couple: http://www.mahalo.com/how-to-file-taxes-as-a-gay-married-couple How to Determine Your Tax Filing Status: http://www.mahalo.com/how-to-determine-your-tax-filing-status How to Choose the Right Tax Forms: http://www.mahalo.com/how-to-choose-the-right-tax-forms 1040ez Tax Form: http://www.mahalo.com/1040ez-tax-form How to Organize Tax Documents: http://www.mahalo.com/how-to-complete-a-1040ez-tax-form How to Set Up a Tax Payment Plan: http://www.mahalo.com/how-to-set-up-a-tax-payment-plan Check out more Mahalo playlists: 2011 Grammy Guitar Lessons: http://www.youtube.com/view_play_list?p=554B7E896F42D97C How to Cook: http://www.youtube.com/view_play_list?p=7016D638D52E3652 How to Bake: http://www.youtube.com/view_play_list?p=26285631199B5B14 Mahalo Daily Videos: http://www.youtube.com/view_play_list?p=4F1A4F3978CDD3EC How to Play the Xylophone: http://www.youtube.com/view_play_list?p=F1EFA91B8B5F3929 Green Living: http://www.youtube.com/view_play_list?p=3CA63D48E28E7759 How to Speak Russian: http://www.youtube.com/view_play_list?p=31098EC11EAF8623 Mahalo Travel: http://www.youtube.com/view_play_list?p=F348A1D1C148415D Learn Biology: http://www.youtube.com/view_play_list?p=16EB9E5F60FAD9BD How to Play Guitar Songs: http://www.youtube.com/view_play_list?p=BE077DEF7EB33D00
Views: 34926 mahalodotcom
What is a Limited Liability Company or LLC?  - LLC.com
 
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For more information on forming an LLC or to receive a free LLC formation guide, to go http://bit.ly/IncorporateYourLLC Learn the advantages of forming an LLC and why it is a popular business entity for many entrepreneurs and small businesses. LLC.com has the information needed to make an informed decision on which business structure is best for you including; tax advantages, asset protection, enhanced credibility and much more.
Views: 228808 incorporate.com
Finding the Right Business Structure
 
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Will you form a sole proprietorship? A partnership? A corporation? A limited liability company? There are pros and cons to each. Watch this video to learn how each structure can affect operations, registration and filing fees, liability, and taxation.
Views: 33829 John Deere
How to Start a Business in US: Types of Business Entities
 
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Selecting the most suitable legal business structure is the first and foremost step in setting up a business in USA. The relative advantages of various options explained here should help foreign entrepreneurs make an informed decision. Visit http://www.VisaProLaw.com and request a FREE Case Evaluation today in case you are deliberating over opening a business in the United States or wish to enter the US to invest in, manage or work for an existing business enterprise. FREE Immigration Consultation: http://www.visaprolaw.com/us-immigration-service/immigration-free-consultation VisaPro Immigration Law Firm - http://www.visaprolaw.com
Tax Difference between LLC and S-Corp - LLC vs. S Corporation explanation (FREELANCE TAX & 1099 Tax)
 
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Best LLC vs. S-Corp walk through on the internet! 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: 301695 FeedbackWrench
Top Business Deductions for your 2018 Taxes
 
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For Non-Business PERSONAL Deductions: https://youtu.be/W-U07iKrCmA This Video is for the top 10 business tax deductions that are most often misused, misunderstood, missed, and/or abused... 00:03:46 - What is deductible? All Ordinary and necessary expenses... 00:06:30 - Skip Intro, go to HOME OFFICE EXPENSES 00:11:21 - VEHICLE EXPENSES 00:18:04 - INSURANCE EXPENSES 00:24:08 - CHARITY AND POLITICAL CONTRIBUTIONS 00:27:41 - MEALS AND ENTERTAINMENT 00:31:27 - TRAVEL EXPENSES 00:36:53 - EMPLOYEES AND SUBCONTRACTORS 00:41:02 - RETIREMENT AND DEFERRED COMPENSATION PLANS 00:43:25 - WRITING OFF OPEN RECEIVABLES, PAYABLES, AND INVENTORY 00:49:19 - START-UP EXPENSES AND OTHER EXPENSES PAID OUTSIDE OF BUSINESS BANK ACCOUNTS 00:51:08 - BONUS: QUALIFIED SMALL BUSINESS AND PASSTHROUGH ENTITY DEDUCTION (Sec. 199A) Most new entrepreneurs ask they accountant this real common question: “Which expenses are deductible for my business?” The answer I give to all my clients is: “Any expense that is necessary, ordinary, reasonable, documented, and legal may be deductible…” …and what do these terms mean? * Ordinary: means it is commonly accepted in the industry and seen often with other businesses in the same trade * Necessary: means the expense was required in order to generate the business income or it was incurred as a consequence of the income producing activities. But it does not need to be indispensable in order to be deductible * Reasonable: this is very subjective, but in essence it means it is not lavish or extravagant * Documented: means that the taxpayer has the burden of proof to prove the expense existed, that the amount reported is accurate, and it has a true business purpose (necessary) * Legal: the expenditure cannot break any laws, be considered a bribe, or made in connection to an illegal activity / or activity in which the business does not gave the legal capacity to perform It also also worth mentioning that there are 10 tax deductions very commonly missed, misused, and/or abused, and those are: 1. Home Office Expense: Frequently failing to document the square footage of the home, creating a business-only environment, and document its business purpose is the most common issue 2. Vehicle Expense: mixing personal and business use of vehicles and not properly tracking milage is a large are of non-compliance 3. Insurance: Specially with health and life insurance, which have very special rules in order to be deductible.. in many cases these may NOT be deductible if rules are not followed 4. Charity and Political Contributions: For pass-through entities, such as S-Corporations and Partnership/LLC’s, charity is “deductible” only on the persona return, but most taxpayers cannot get any benefit for it because of standard deductions. Political contributions are NEVER deductible 5. Meals & Entertainment: the “entertainment” factor really affects the deductibility of this expenses. NOTE: in 2018, there are significant changes in the tax code for Entertainment expenses 6. Travel Expenses: frequently combining personal with business travel is a large priblem 7. Employees and Subcontractors: not properly correctly categorizing employees or contractors and reporting them as such; which may lead to large payroll tax penalties or disallowance of contractor expenses 8. Retirement and Deferred Compensation Plans: failing to include ALL the employees in the company plan and/or not taking advantage of the income deferral tax deductions 9. Proper Write-off: of open invoices/receivables that are deemed uncollectible, open bills/payables that will not be paid, and adjusting Inventory quantity/valuation. For ACCRUAL-BASIS taxpayers 10. Pre-startup costs: made before the business started and.or in connection to setting up the business. Also some business owners tend to “cover” business expenses with personal funds or personal credit cards (outside of the business bank accounts) and forget to register it in the business books 11. BONUS: Section 1099A... More to come my e-mail: [email protected]
Views: 11152 Hector Garcia CPA
Business Entities - Corporation
 
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Check out Bas Rutten's Liver Shot on MMA Surge: http://bit.ly/MMASurgeEp1 Keith Hall, a registered CPA and small business owner with over 20 years experience is here to help you with your small business questions. In this video, Keith explains the benefits and pitfalls of choosing a corporation as your business entity. Check out the rest of our tax videos here: http://www.youtube.com/view_play_list?p=C90C48F4B15F6911 Check out the related Mahalo Pages: How to Avoid a Tax Audit: http://www.mahalo.com/how-to-avoid-a-tax-audit How to Check Your Tax Refund Status: http://www.mahalo.com/how-to-check-your-tax-refund-status How to File For a Tax Extension: http://www.mahalo.com/how-to-file-for-a-tax-extension How to File Taxes If You Haven't Filed in Years: http://www.mahalo.com/how-to-file-taxes-if-you-havent-filed-in-years How to File Taxes as a Gay Married Couple: http://www.mahalo.com/how-to-file-taxes-as-a-gay-married-couple How to Determine Your Tax Filing Status: http://www.mahalo.com/how-to-determine-your-tax-filing-status How to Choose the Right Tax Forms: http://www.mahalo.com/how-to-choose-the-right-tax-forms 1040ez Tax Form: http://www.mahalo.com/1040ez-tax-form How to Organize Tax Documents: http://www.mahalo.com/how-to-complete-a-1040ez-tax-form How to Set Up a Tax Payment Plan: http://www.mahalo.com/how-to-set-up-a-tax-payment-plan Check out more Mahalo playlists: 2011 Grammy Guitar Lessons: http://www.youtube.com/view_play_list?p=554B7E896F42D97C How to Cook: http://www.youtube.com/view_play_list?p=7016D638D52E3652 How to Bake: http://www.youtube.com/view_play_list?p=26285631199B5B14 Mahalo Daily Videos: http://www.youtube.com/view_play_list?p=4F1A4F3978CDD3EC How to Play the Xylophone: http://www.youtube.com/view_play_list?p=F1EFA91B8B5F3929 Green Living: http://www.youtube.com/view_play_list?p=3CA63D48E28E7759 How to Speak Russian: http://www.youtube.com/view_play_list?p=31098EC11EAF8623 Mahalo Travel: http://www.youtube.com/view_play_list?p=F348A1D1C148415D Learn Biology: http://www.youtube.com/view_play_list?p=16EB9E5F60FAD9BD How to Play Guitar Songs: http://www.youtube.com/view_play_list?p=BE077DEF7EB33D00
Views: 16211 mahalodotcom
What Type of Entity Should Your Small Business Be? Jack Sullivan NN Forum
 
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http://www.networknetwork.net/notes-on-networking/ Jack Sullivan -founder and managing partner of Sullivan & Associates, Law Firm P.C.- provides insights and best practices on the process of deciding the type of entity for a small business. To learn more visit http://www.thesullivanlaw.com To learn more about Network!Network! visit http://networknetwork.net and don't miss other great presentations as this one at http://www.networknetwork.net/notes-on-networking. http://cartouchecreations.com We are a video and TV production company based in New York city. Contact us to learn more about the formidable leverage of videos to propel your company to new heights. Thank you for subscribing to our channel and our blog at http://cartouchecreations.com/blog
Views: 278 Alex Vachon
Understanding Tax Returns For Small Business Owners
 
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Visit the new NerdEnterprises.com Subscription Options: https://nerdenterprises.com/services/subscription-based-training/ One to One Training: https://nerdenterprises.com/services/one-to-one-training/ Get templates: https://nerdenterprises.com/resources-page/templates/
Views: 19654 Nerd Enterprises, Inc.
The New US Tax Reform: Breaking it Down for Your Small Business
 
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Recorded LIVE, tax experts Will and Kenji share how the new tax reform affects small businesses. We answered top questions from viewers. You can find the time stamps below: Q: Overall, how does the tax reform affect small businesses? [1:05] A: You can expect to save money on your taxes, which means it's a great time to invest in the business, whether that's hiring more employees, buying more equipment, or expanding. Q: 95% of small businesses are pass-through entities, and they experience big tax cuts. First, what is a pass-through entity? [3:33] A: A pass-through entity is either sole-proprietorships or LLCs. It's a business structure in which the income from the business passes through to an individual's tax return. Q: What tax cuts do pass-through entities get? [4:32] A: You get a 20% deduction for the net profit of the business. Q: Does that deduction apply to every pass-through entity? Are there limitations? [5:14] A: There are limits: Not everyone can get the 20% deduction. Compensation is an example: If your taxable income is over $157,000, then that tax deduction will be phased out. Some industries also have limitations, like consulting services or law practice. Q: Should small businesses switch to a C corp to capitalize on the massive tax cut for C corps? [8:00] A: No, not necessarily. The pass-through entities also enjoy great tax benefits. Also, C corps are often called "double taxation entity" for a reason. Your entity is set up not only for tax purposes but for legal purposes. Also, if you change to a C corp, it's a one-way street: it's hard to change it back. So, definitely consult a tax advisor for your specific situation. Q: Any changes to the meals and entertainment deductions? I heard they are going away. [10:23] A: Yes! Meals and entertainment are being reduced from 100% deductible to 50% deductible. Q: How about other important deductions, like commuter benefits? [12:43] A: Commuter benefits are now not tax deductible at all for employers. Pro Tip! As a workaround, it might be worth trying to negotiate with your landlord if you can incorporate parking into your rent, which is tax deductible. Q: Do these tax changes affect our 2017 tax returns, or does it just apply to 2018? [15:50] A: Nope, it only pertains to 2018 moving forward. Q: What is Section 179, and what are the changes to it? [17:45] A: Section 179 allows you to expense equipment purchased for the business. With the new tax reform, it has been broadened and you can deduct even more -- from $500,000 to $1,000,000. Q: How can I deduct unreimbursed business expenses without itemizing? [19:21] A: It depends on the kind of pass-through entity you have. Will goes into more of that here. Q: Any changes to business expenses that we should know about? [20:35] Kenji: There are going to be some reductions to the interest expense. This will impact real estate the most. Listen to learn more on that! Will: There are changes to the standard deductions and the personal exemption on your personal tax return. In fact, that entirely goes away with the new reform. There are some pros and cons with that change. Q: What should people expect from their CPA? [23:55] A: They should be proactive and reaching out to you to provide more guidance amidst the changes. Also, share your long-term plans with your CPA because you can be growing your business during this reform. Q: Are S corps still the best for small businesses? A: It's a tax-saving status, so for many businesses, this is still a beneficial path to take. Q: What are the main takeaways from the reform? [28:17] A: - Are there creative, legal, compliant ways to capitalize on the reform changes? - How can you grow your business? - Work with your CPA to create a growth path for your business. --------------------------------- About our guests: Will Lopez is Founder of AdvisorFi.com, an online accounting and consulting firm for the next generation of business owners. --- Check out Will's YouTube channel! https://goo.gl/Ms26GV Kenji Kuramoto is the Founder and CEO of Acuity, which builds and maintains financial functions for entrepreneurs and small business. --- Check out Acuity at: https://acuity.co/ This Live Session is brought to you by Gusto. Gusto serves over 40,000 small businesses across the US with a refreshingly easy payroll, benefits, and HR solution. --- To learn about Gusto, visit: https://www.gusto.com. --- For more small business answers, visit us at: https://www.gusto.com/ask-gusto --- If it suits your fancy, follow us on Twitter @GustoHQ http://twitter.com/gustohq --- AND join Talk Shop, our Facebook community for small businesses: https://www.facebook.com/groups/talkshopgroup/
Views: 1484 Gusto
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: 4477 The Business Channel
Choosing your business structure: Tax basics for small business
 
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This video explains the business structures available to you when you run a business and how tax may apply to the different structures. For more information, visit http://www.ato.gov.au/TaxBasicsVideos
Small Business Practice 101 | Which Entity Is Right For My Business?
 
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In this small Business practice, we’re talking Entity/business formation. I walk through the most common business entities and what they require: 1) Sole Proprietorship 2) General Partnership 3) Limited Partnership 4) Corporations and 5) Limited Liability Company
Views: 157 Courtnie Gore, Esq.
What Type Of Small Business Legal Entity Should You Form?
 
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Corporation? LLC? Partnership? Canton Ohio Attorney Richard Nicodemo discusses the various legal entities a small business can form, and the one big issue you need to consider before you choose any one of them. Nicodemo And Wilson, 330-452-8831. 124 15th St.N.W. Canton, Ohio 44703.
Views: 1230 nicodemoWilson
How To Avoid 3 Common Legal Mistakes Small Business Owners Make
 
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Disclaimer: This video and accompanying content (blog, Youtube descriptions, etc. herein referred to as "Content") is for informational purposes only and should not be construed as legal advice of any kind. Jo-Ná Williams and J.A.Williams Law, P.C. assumes no liability for use or interpretation of any information contain in this Episode or this document. This Episode should not be an alternative to obtaining legal advice from a licensed attorney in your state based on the specific facts of your legal matter. Jo-Ná Williams is licensed to practice law in the State of New York only. C'mon over to http://www.marieforleo.com/2014/05/small-business-legal-help/ where the main discussion happens after the episode! Legal help can be confusing if you run a small business, but in this video you'll learn about three common legal mistakes small business owners make -- and how to avoid them. 1. Business Structure. Should your business be an LLC or S Corp? Get legal help from a lawyer about what option is best for your business, since they can help you figure out what will be best for your taxes as well. Many people think that a lawyer is going to cost a lot of money, but most people would rather pay for solving a problem than preventing one. 2. Protect Yourself And Your Offerings. It's very important your terms are outlined in something written. Make sure that your contracts have protection for your IP, disclosure of your programs and content, clear terms as to refunds and how to terminate the contract. It's also important to make sure your contracts have disclaimers in them. It's important to have what you are in the contract but even more importantly what you're NOT. Legal help from an attorney will show you exactly what your contracts and terms should include. 3. Your Business Relationships. An independent contractor's agreement serves as additional proof that you have this arrangement with the people working for you. In this type of agreement, you should outline their duties, how they are being paid and when. A non-disclosure clause protects your confidential information, and explains the fact that they're an independent contractor and not an employee. And a final bonus tip: If you are in the U.S. and you pay an independent contractor over $600, you're going to have to issue them a 1099. Make sure you have their W-9 form when they come on-board so you don't have to try and get it from them later! If you enjoyed this video, subscribe to our channel and sign up for your free weekly business and life advice at http://www.marieforleo.com. And if you're interested in more videos on next level business growth like this one, check out our YouTube playlist on that exact topic here: https://www.youtube.com/playlist?list=PLD87A632CFD5449B5. Thanks for watching! My YouTube channel: http://www.youtube.com/marieforleo Legal Help on my website: http://www.marieforleo.com/2014/05/small-business-legal-help/ Legal Help on YouTube: http://youtu.be/zahVagoP3SU
Views: 119480 Marie Forleo
Are you in business?: Tax basics for small business
 
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This video explores the differences between a hobby and a business, how to determine whether you are in business and what it means to be in business. For more information, visit http://www.ato.gov.au/TaxBasicsVideos
Q&A with a Planner: I'm a Small Business Owner. What Business Entity Structure Should I Choose?
 
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Emma Foulkes The City of Brookhaven invites you to Metro Atlanta Financial Planning Day. Speak one-on-one with a Certified Financial Planner™ professional to get answers to your questions free of charge. Stop by Oglethorpe University on October 11th. Learn more at FinancialPlanningDay.org
Views: 93 FPA Georgia
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: 10646 The Business Channel
Small Business Canada – Critical decisions every Canadian Small Business Needs to Make
 
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Small Business Canada – Critical decisions every Canadian Small Business Needs to Make (Video 1 of 3) SPRING 2016 PROMOTION - ONLY $39 USD ON UDEMY UNTIL April 30, 2017. Take the full Small Business Blueprint on Udemy for only $39. Just click on this coupon link: https://www.udemy.com/small-business-blueprint/?couponCode=youtube_39promo In this video training tutorial I review the critical decisions a small business owner needs to take when starting a small business in Canada. We’ll review what can go wrong if things are not done properly from the start such as late HST filing, payroll deductions remittances and GST filing. Additionally, we will review the decisions related to setting up your business legally using one of the forms of organization – Canadian proprietorship, partnership and Canadian corporations. We’ll also go over the ways you pay yourself (salary and dividends). Finally we will look at bookkeeping and accounting issues that you need to be aware of as well as some operation factors you’ll need to consider. This is the first of three free training videos leading to the launch of the Small Business Blueprint offered at SBC Knowledge Systems Inc. To watch the remaining tutorial in this training series, click on the following links: Video 2 – Tax Planning Strategies for Canadian Small Business https://www.youtube.com/watch?v=uadaKGIg7-U Video 3 – Secrets to Entrepreneurial & Small Business Success https://www.youtube.com/watch?v=A3rxLyM6puE Small Business Blueprint – Course Enrollment http://smallbusinessblueprint.kajabi.com/sp/29330-sbb-sales-page In the Small Business Blueprint we cover a number of vital topic areas related to starting a small business in Canada such as: - forms of business organization in Canada – Proprietorship, Partnership & Corporation - Advantages & disadvantages of each type - Partnership agreements and shareholder agreements - Starting a small business in Canada – Step by step checklist - Compensation strategies – how to pay yourself with salary or dividends - Tax savings strategies – Small business tax tips to help you save money - Small business tax write-offs and deductions – What you can and cannot deduct - Small business accounting – what you need to keep - Small business bookkeeping – how to setup up your bookkeeping system fast and easy Check out some additional Canadian small business resources here on YouTube - Some great small business tax loopholes from Allan Madan, CPA, CA https://www.youtube.com/watch?v=TQ3lzpKq0Is - Set up a New Business In Four Steps from the Canada Business Network - https://www.youtube.com/watch?v=Bv1MSHM-kzM - 5 Tips to Reduce Your Canadian Small Business Tax Bill (Webinar) - https://www.youtube.com/watch?v=cYYeIsNeHCM - Starting a Small Business in Canada by the Business Development Centre https://www.youtube.com/watch?v=z7Qq6p3PPs0 - GST/HST Payroll Tax Accounts for your business by the Business Development Centre https://www.youtube.com/watch?v=Hg4DFJpatNY Check out our other courses and resources at http://www.sbcknowledge.com
Views: 56342 Ian DiNovo
Pay Less Taxes: Tax Tips for Side Hustlers and Small Business Owners
 
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http://www.sidehustlenation.com/pay-less-taxes-your-tax-questions-answered/ Josh Bauerle is the CPA on fire at cpaonfire.com. Josh specializes in tax preparation, tax planning, bookkeeping, and general consulting services to take the accounting side of your business to the next level. Just 30 minutes with Josh about a month ago saved me thousands of dollars, so you owe it to yourself to listen to this episode and see if you can put some money back in your pocket too. In this episode, Josh goes into detail about the tax implications with each type of business entity you can form, as well as how you can potentially save thousands of dollars by registering as an S-Corp. Josh also covers which expenses are deductible to your business, how to include health insurance as a tax-deductible, and how you can reduce your tax bill by investing more into retirement accounts. He also spends some time explaining the often confusing issue of how much sales tax FBA sellers should be paying and under which state tax laws, as well as recommending a service to automate the process. Tune in as Josh answers several questions from the Side Hustle Nation community and shares some of his best tax saving tips and advice. This isn’t another one of those dry conversations around tax, it’s packed with actionable tips and advice to help you put more money back into your pocket. Grammar police: I understand it should either be “pay less tax” or “pay fewer taxes” … but sometimes search popularity trumps grammar :) For the full notes, links, and to download the free PDF highlight reel from this episode, please visit: http://www.sidehustlenation.com/pay-less-taxes-your-tax-questions-answered/ And here's a company that specializes in Self-Directed Solo 401(k)s and IRAs: https://www.sidehustlenation.com/rocketdollar -Video Upload powered by https://www.TunesToTube.com
Views: 21881 Nick Loper
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: 9017 Graham Cochrane
How to Qualify for SBA Loan
 
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The SBA Loan Approval Formula... The Exact Steps to Get an SBA Loan... During this livestream, you’ll discover … • Exactly what the Small Business Administration wants from you when you apply for a loan • Just what the SBA does … • … and what they don’t do • Basic credit score requirements for loans • Which documentation is necessary to apply for an SBA loan • Various types of Small Business Administration loans … • … which your business could qualify for • How you can spend the money
Views: 3556 Credit Suite
How to Pay Taxes on Your Small Business
 
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Watch more How to Do Your Taxes videos: http://www.howcast.com/videos/422992-How-to-Pay-Taxes-on-Your-Small-Business Step 1: Make estimated tax payments Make quarterly estimated tax payments to the IRS if your total tax bill in a given year will exceed $500. Estimated tax payments are due 4 times a year on April 15, June 15, September 15, and January 15. Tip Pay self-employment tax if your annual net earnings will be $400 or more. Step 2: File a tax return File an annual income tax return. The form you use will depend on how your business is organized -- whether it is a sole proprietorship, partnership, corporation, or limited liability corporation. Tip Keep tax-related documents for a minimum of 7 years. Step 3: Pay excise tax Pay excise tax if your business engages in qualified activities. For example, excise taxes are levied on certain trucks and buses used on public highways. Step 4: Withhold employment taxes Withhold employment taxes from the salaries of your employees. Employment taxes include withholding, employer matching, and unemployment taxes. Depending on the size of your payroll, employment taxes are due weekly, monthly, or quarterly. Step 5: Pay sales tax Register with your state's tax department and pay sales tax if your business makes a taxable product. Sales taxes are due quarterly or monthly, depending on the rules in your state. Most services are exempt from paying sales taxes. Step 6: Pay additional state and local taxes Pay additional state and local taxes that are applicable to your business. Consult your local government offices or a tax attorney to determine whether you are responsible for additional taxes. Did You Know? In 2008, tax revenues in the United States represented 26.9 percent of the total gross domestic product.
Views: 88128 Howcast
What Type Of Business Entity Should I Form For My Small Business?
 
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One of the most popular questions I get regarding starting a small business is should I create a business entity for my business? Well in typical lawyer fashion, my answer is going to be that you need to speak to an attorney or CPA regarding what is best for your specific situation. The reason being is that each state has different laws regarding the creation of business entities and what they do. In general though it may be a good idea for you to create a business entity because this structure may protect you from liability regarding the actions of the business. In addition, different business entities can have possible tax benefits for you. So again, if you are trying to decide whether a business formation is the right way to go for you, be sure to speak with your attorney or CPA. Thanks for reading and watching and I’ll see you next time!
Views: 77 Marcus' Corner
2018 Tax Changes For Businesses (2018 Business Tax Rules Explained!) Tax Cuts and Jobs Act 2018
 
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2018 Tax Changes For Businesses (2018 Business Tax Rules)2018 Business Tax Rules Explained!(Tax Cuts and Jobs Act 2018) 2018 Income Tax Changes for Businesses explained! (2018 Federal Income Tax Rules) . VERY DETAILED AND EASY TO FOLLOW.... Learn about Donald Trump's new tax laws. Tax Reform 2018. 2018 Federal Income Tax Rules! Downloadable notes included below. The Tax Cuts and Jobs Act bill brings numerous new changes to the world of taxes. In this video you learn how these changes may impact your personal tax return and your business. You can follow the links here to download the spreadsheet: https://www.dropbox.com/s/kxp38y9kw0zejgc/2018%20business%20tax%20updates.xlsx?dl=0 Video Outline and Time Stamps so you can quickly jump to any topic: • How to download business tax law updates spreadsheet - 0:37 • Business filing due dates - 2:12 • 2018 Corporate Tax Rates - 2:54 • Depreciation updates 2018 - 4:12 • Standard mileage rates- 6:25 • Meals and Entertainment and Fringe benefit rules - 6:40 • Excessive business loss limitation (IRC 461) - 9:33 • Net Operating Loss rules for 2018 - 10:24 • Business Interest Deduction Limitations IRC 163(j) - 11:09 • Business Research Expense Rules 2018 - 12:10 • Like-Kind Exchanges (1031 Rules for 2018) - 12:45 • Section 199A Deduction - 13:54 • Hobby Loss Rules 2018 - 18:33 • Minimum tax credit refundable for corporations - 19:33 • Important links - 20:08 Check out some of our other videos and playlists here: ♦ Investing in the stock market!: https://goo.gl/yVAoES ♦ Save money, budget, build wealth and improve your financial position at any age: https://goo.gl/E97nJj ♦ Learn more about how federal income taxes work: https://goo.gl/D1hCX1 ♦ Ways to improve your life at any age: https://goo.gl/uq72bu Subscribe for our future weekly videos. New videos typically every Sunday or Wednesday. Do not forget to help out a friend and share this information with them as well. About me: I'm passionate about helping people build wealth by learning more about personal finances, investing and taxes. My mission is to help people improve their financial position career and life. I also enjoy teaching others about the accounting profession, tech tips, and helping people overcome challenges in their everyday life as well as their career. You can find our content on other internet planets such as....... My Website: Moneyandlifetv.com Twitter: https://twitter.com/Mkchip123 Facebook: https://www.facebook.com/moneyandlifetv/ ***Disclaimer*** All of the information in this video is presented for educational purposes only and should not be taken as financial, tax, or investing advice by any means. I am not a financial adviser. Although I am a CPA I cannot advise someone for tax purposes without knowing their complete tax situation. You should always do your own research before implementing new ideas or strategies. If you are unsure of what to do you should consider consulting with a financial adviser or tax accountant such as an Enrolled Agent, or Certified Public Accountant in the area in which you live. Thanks for taking time to check out this video, and our channel. Have a great day and we will see you in the next video!
Views: 14360 Money and Life TV
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: 5961 Gusto
What is an LLC and Should You Use One for Your Small Business
 
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This is a discussion about whether or not an LLC is the right entity choice for you and your small business. Emphasizes California law. DISCLAIMER: This video is provided by me as a service to the public. It is hoped that the information provided here will be helpful to readers in familiarizing themselves with the topic discussed. This video is intended to convey general information and should not be relied upon as a substitute for professional, financial, or legal advice. As legal advice must be tailored to the specific circumstances of each case, nothing provided herein should be used as a substitute for advice of competent counsel. Legal information is not the same as legal advice -- the application of law to an individual's specific circumstances. None of the information contained herein should be construed as legal advice. Although I go to great lengths to make sure my information is accurate and useful, I recommend you consult a lawyer if you want professional assurance that my information, and your interpretation of it, is appropriate to your particular situation. August 2011 PS - My channel is moving. For new content, please go to channel David Herzog Legal and subscribe there. Thank you! DH
Views: 39726 David Herzog
Sole Proprietor? LLC? Corporation? Which Should You Choose?
 
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If you are starting an online business and trying to figure out which business entity to form, this video is right up your alley. For all intensive purposes, there are three main entities you should consider: 1. Sole Proprietorships 2. Limited Liability Companies (i.e. LLC) 3. Corporations There are many pros and cons to each which are discussed in the video. 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. #hawthornlaw #LLC #onlinebusiness
Views: 3171 Hawthorn Law
Tax basics for small business - personal services income (PSI)
 
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Are you new to small business? Our 'Tax basics for small business' videos are here to help! This series will explain more about how to better manage your tax, super and reporting requirements, including step-by-step instructions and link to resources. This short video explains personal services income and how it may apply to you and your small business. Find more smallbiz tax tips at https://ato.gov.au/taxbasicsvideos.
Different Types of Business Entities | Which Is Right for You?
 
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Different Types of Business Entities | Which Is Right for You? All small business owners start their journey asking about the different types of business entities, whether they're asking about types of corporations (S corporations vs. C corporations) or the difference between an LLC and a corporation. This video covers the four main types of small business: sole proprietor, partnership, limited liability company, and corporation and provides an overview of both legal and tax implications for each. New to Catching Clouds Academy? Well, let me tell you a little bit about us. We’re here to make ecommerce businesses better. Catching Clouds, co-founded by a Patti Scharf (CPA) and Scott Scharf (ecommerce tech geek), has been focused on ecommerce accounting since 2012. Now we've brought our knowledge and experience to YouTube to help share important ecommerce, accounting, and business information with everyone who's looking for it. Think that might be you? Then please subscribe! 💙★💻 SUBSCRIBE TO US ON YOUTUBE 💻★💙 https://www.youtube.com/c/CatchingCloudsAcademy 💙★💻 OUR ONLINE COURSES 💻★💙 Accounting for Amazon ► https://academy.catchingclouds.net/p/accounting-for-amazon Accounting for Shopify ► https://academy.catchingclouds.net/p/accounting-for-shopify And here's a special DISCOUNT CODE for you YouTubers! 5% Discount on All Courses ► YOUTUBELOVE5 💙★💻 LET’S CONNECT 💻★💙 Free groups here (for interactive discussion) Facebook Community for Sellers ► https://academy.catchingclouds.net/p/facebook-group-for-ecommerce-sellers Facebook Community for Accountants ► https://academy.catchingclouds.net/p/facebook-community-for-accountants You can also check out our website for updates, videos, and special announcements. ► http://www.catchingclouds.net 💙★💻 MORE RESOURCES 💻★💙 http://www.catchingclouds.net/training http://www.catchingclouds.net/speaking 💙★💻 FOLLOW US! 💻★💙 Facebook: @CatchingCloudsLLC Twitter: @CatchingClouds, @CCAcademy8, @PScharfCPA Instagram: @CatchingCloudsAcademy Pinterest: @CatchingCloudsAcademy LinkedIn: https://www.linkedin.com/company/catching-clouds/ If you have more questions about business entity types, check out these videos: https://youtu.be/SUfX6dglXoY and https://www.youtube.com/watch?v=UEGkczPJJ9Q https://www.youtube.com/watch?v=y97kYWatqCM&feature=youtu.be
Basic Facts 01: What Every Small Business Should Know Now, Not Later
 
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This video is a must for anyone interested in starting a business to sell a product or offer a service. It highlights the important role of trademarks in that process, including a discussion of how trademarks, patents, copyrights, domain names, and business name registrations all differ. It gives guidelines on how to select the right mark--one that is both federally registrable and legally protectable. It also explains the benefits of federal registration and suggests resources if you need help with your application. By the end of the video, you'll understand why having a trademark component of your business plan is critical to your success. 00:10 – Opening remarks 03:56 – What is a trademark? 06:24 – Comparing trademarks, patents, and copyrights 07:35 – Comparing trademarks to domain names 10:06 – Comparing trademarks to business names 12:24 – Benefits of federal trademark registration 16:03 – Selecting a strong trademark 17:19 – Likelihood of confusion 22:58 – Strength of the trademark 28:09 – Additional trademark selection considerations 31:11 – USPTO resources 33:20 – How to get help with your application 38:32 – Misleading offers, notices, and solicitations 39:09 – Closing remarks If you’d prefer to learn the same information through shorter videos, watch the USPTO’s animated Basic Facts About Trademark series: https://www.uspto.gov/trademarks-getting-started/trademark-basics/basic-facts-about-trademarks-videos. For an explanation of the federal trademark application process from beginning to end, watch the USPTO's news broadcast-style video series, the Trademark Information Network (TMIN): https://www.uspto.gov/trademarks-getting-started/process-overview/trademark-information-network. To stay current with the USPTO, subscribe to regular e-mail updates at http://www.uspto.gov/subscribe.
Views: 976814 USPTOvideo
Registered Agent Services Near Me- Why Small Business Owner Don't Need Registered Agent Services
 
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👉 https://e8w74.app.goo.gl/3wfg 👈 A registered agent is a responsible third-party who is registered in the same state in which a business entity was established and who is designated to receive service of process notices, correspondence from the Secretary of State, and other official government notifications, usually tax forms and notice of lawsuits, ... 1Why Do I Need a Registered Agent? | LegalZoom Can you be your own registered agent? Do I need a registered agent? How much does it cost to have a registered agent? What is a registered agent service? 6Why Do I Need a Registered Agent? | LegalZoom A registered agent is a responsible third-party who is registered in the same state in which a business entity was established and who is designated to receive service of process notices, correspondence from the Secretary of State, and other official government notifications, usually tax forms and notice of lawsuits, ... Find out what a registered agent is. Learn the role of a registered agent and why it is important for your LLC to have one. 8Registered agent - Wikipedia https://en.wikipedia.org/wiki/Registered_agent In United States business law, a registered agent, also known as a resident agent or statutory agent, is a business or individual designated to receive service of process (SOP) when a business entity is a party in a legal action such as a lawsuit or summons. ‎The function of a ... · ‎Who can perform the ... · ‎Designating a registered ... 9What is a Registered Agent? | How to Start an LLC A registered agent is responsible for receiving important legal documents on behalf of your business. These papers can include service of process of legal action (i.e. a lawsuit) and state filings, such as annual reports. 10Registered Agent Service | We Beat Competitors' Prices! InCorp Offers National Registered Agent Services in All 50 States, DC, Puerto Rico and the U.S. Virgin Islands. Whether you are contemplating having InCorp ... 11Registered Agent Services | Resident Agent | Statutory Agent Services Every state requires a corporation or an LLC to have a Registered Agent (sometimes called a resident agent, statutory agent, or agent for service of process). gvids LLC Registered Agent - Who can be a Registered Agent? | LLC ... **Short Answer: Most companies trick you into hiring them as your LLC's Registered Get Trust metrics with free SEMrush account - Connect 2Registered Agent Services | Agent for Service of Process | CSC May 20, 2017 - Uploaded by CSC Headquarters Registered agent services can help with receiving service of process and determining good standing. Learn ... 3LLC Registered Agent: Form an LLC (6/11) - YouTube Nov 5, 2015 - Uploaded by LLC University Learn more about LLCs:- What is a Find out what a registered agent is and your options for choosing the right one for your business. Learn why a good registered agent can be the determining factor if you win or lose a lawsuit. Understand why ... 6What Is a Registered Agent? (And Why You Need One) Jun 1, 2018 - Uploaded by Harvard Business Services, Inc. Video explains what a Delaware Registered Agent does, why you need one & why Harvard Business ... 7What is a Registered Agent? - YouTube Apr 22, 2013 - Uploaded by reference180.com Get a FREE Guide to Form Your Company and Protect Your Assets: 8What is a Registered Agent? | MyCorporation® Aug 14, 2011 - Uploaded by MyCorporation Learn why you should have and how to get a registered agent. 9What is a Registered Agent? - YouTube What exactly is a Registered Agent and why do you need one? This video provides a quick and easy to ... 10What does a Registered Agent do? - YouTube Apr 14, 2016 - Uploaded by IncNow - Agents and Corporations, Inc. A registered agent is in the state of incorporation in order to be a physical presence to receive lawsuits and ... vmb all up in yo' business: what is a registered agent? llc registered agent: form an llc (6/11) what is a registered agent? (part of how to form your llc business in 5 days) what is a registered agent? llc registered agent - northwest registered agent what is a registered agent? (and why you need one) what is a registered agent? what does a registered agent do?
Views: 504 HOUSTON MCMILLER
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: 40578 Genesis Business
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: 10388 Hawthorn Law
Which Business Entity is Best for You
 
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Discover how to choose the right business entity for your business. During this webinar you will discover which business entity is truly best for you and your business. You will discover how choosing the right entity can eliminate your liability and provide you massive tax benefits. In this webinar you will learn everything you will want and need to know regarding business entities such as partnerships and corporations. You will discover: • What truly is the difference between business entities- and how to know which entity is best for your business • How your entity affects the taxes you pay- and which entities make it possible for you to pay lower taxes • Which entitles eliminate your personal liability- so you aren’t liable for your business debts and for possible litigation • Which types of companies file federal entitles instead of state entitles- and the special requirements that federally filed entities must meet • How sole proprietorships really work in relation to a normal corporation- and how you can be solely responsible for your company’s debts as a sole prop • How partnerships really work- and the difference between General partnerships, limited partnerships, limited liability partnerships, and limited liability limited partnerships or LLLPs • What a LLC truly is- for sure it is NOT a corporation as many think that it is, something you must know • 3 types of corporations you will want to make sure you know about- each type has its own very specific tax ramifications • What a DBA really is and how it’s looked at in the corporation world- don’t even think of filing for a DBA until you see this webinar • The best entities to file for business credit building- how to REALLY get credit for your business with absolutely no liability whatsoever This will be a powerful webinar that every business owner should attend even if you have already filed for your entity. Limited spots are available, so register today to reserve your seat! Interested in building your business credit? Check out this link to access your free, step-by-step guide, on building credit for your EIN that’s not linked to your SSN… with no personal credit check. http://www.creditsuite.com/eincreditguide Aug. 14, 2015 by, Ty Crandall Credit Suite
Views: 3999 Credit Suite
S Corporation Form 2553: The Top 4 Best Tax Deductions for Small Business Start Up Biz S Corporation
 
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S Corporation Form 2553: The Top 4 Best Tax Deductions for Small Business Start Up Biz S Corporation ★ S-CORP ONLINE COURSE NOW AVAILABLE (CLICK☞): https://bootcamp.advisorfi.com/p/s-corporation-bootcamp Business ownership is adventurous, rewarding, and completely confusing. Sure you can come up with the next business idea and change the world with a single event, but how do you organize and run the business side of that idea? Should you set up an LLC and how should it be taxed? Are you prepared to streamline this new business venture and idea? What information should you consider in your business that's meaningful, and when do you implement it? Where do you go to find the best tools possible for your business? How do you save money on taxes? Where do you set up your new company? What technology should you use to make running your business easier? These aren't the things that we learn in school, and chances are you don't have time for trial and error. You're here to make money doing what you love, and I'm here to make that easier for you and absolutely practical. ★ S-CORP ONLINE COURSE NOW AVAILABLE (CLICK☞): https://bootcamp.advisorfi.com/p/s-corporation-bootcamp In this Bootcamp for Converting to S-Corp (Form 2553), you will walk away with knowledge such as; How do you to properly start your business, ~ Why you should consider S-corporation (Form 2553) for your business venture, ~ How do you properly complete S-Corporation (Form 2553) correctly when you are NOT late in electing, ~ How do you properly complete S-Corporation (Form 2553) correctly when you ARE late in electing, ~ What are the IRS S-corporation expectations and requirement for your S-Corporation (Form 2553), ~ What are the best 2018+ tax reform business savings for my S-Corporation (Form 2553), ~ What are the best business and accounting apps to use to make running a business easier and are there exclusive offers for them through AdvisorFi.com, and much more! ★ S-CORP ONLINE COURSE NOW AVAILABLE (CLICK☞): https://bootcamp.advisorfi.com/p/s-corporation-bootcamp By the end of this S-Corp Bootcamp, your business venture will be in tip-top shape to make your dreams and tax savings become reality. You'll have a complete plan for how to set up your business venture correctly that saves you money and time, and rolling out the best technology that will make business ownership as an S-Corporation a breeze! This online course is the first of it's kind and is the beginning of a series of educational online products to be created by Will Lopez, Founder of AdvisorFi. Needless to say, we are excited to show you how successful business ownership is really done. :) ★ S-CORP ONLINE COURSE NOW AVAILABLE (CLICK☞): https://bootcamp.advisorfi.com/p/s-corporation-bootcamp =========== Gusto Payroll (CLICK☞): https://gusto.com/r/uBiOb =========== FREE Consultations (CLICK☞): http://meetme.so/freebie =========== Subscribe (CLICK☞): https://goo.gl/o8hRuk =========== Best Playlist (CLICK☞): https://goo.gl/Kvb41h =========== IRS: Reasonable Compensation: "S corporations must pay reasonable compensation to a shareholder-employee in return for services that the employee provides to the corporation before non-wage distributions may be made to the shareholder-employee. The amount of reasonable compensation will never exceed the amount received by the shareholder either directly or indirectly." Reasonable Salary: https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/S-Corporation-Compensation-and-Medical-Insurance-Issues LLC Tax Classifications: http://www.companiesinc.com/llc/tax-classifications.asp Medical Insurance: https://www.irs.gov/publications/p535/ch06.html#en_US_2016_publink1000208843 Section 179: https://www.irs.gov/publications/p946/ch02.html#en_US_2016_publink1000107395 Mileage Deduction: https://www.irs.gov/uac/car-and-truck-expense-deduction-reminders Solo 401k Deductions: https://www.irs.gov/retirement-plans/one-participant-401k-plans Key Words: S-Corporation, Form 2553, Small Business, Partnership, Sole Proprietorship, C-Corporation, Tax Classifications, Small Business Election, Entrepreneur, ★ Please LIKE Comment & SUBSCRIBE: https://goo.gl/o8hRuk ★ Thanks for watching http://AdvisorFi.com ★ Music from YouTube: https://www.youtube.com/audiolibrary/music #Accounting #Business #Taxes
Views: 14211 advisorfi.com
LLC vs S-CORP - Entrepreneur Tax Training Series (4 Mins!)
 
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What kind of business entity should you choose? Which is better, an LLC or corporation? Are there any tax advantages for an LLC vs S-Corp? What is the liability protection for an LLC vs S-Corp? Small business owners need to choose a business entity based on the liabiltiy protection and tax structure the entity provides.
Income Tax -- Small Business Tax Tip
 
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http://www.nchinc.com/ All businesses except partnerships must file an annual income tax return. Partnerships file an information return. The form you use depends on how your business is organized. Speak with your tax consultant to find out which returns you must file based on the business entity established. The federal income tax is a pay-as-you-go tax. You must pay the tax as you earn or receive income during the year. An employee usually has income tax withheld from his or her pay. If you do not pay your tax through withholding, or do not pay enough tax that way, you might have to pay estimated tax. If you are not required to make estimated tax payments, you may pay any tax due when you file your return. For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Different Types of Business Entities
 
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Any activity which is carried out on a continual basis for the purpose of gain is required to be registered with ACRA. This video explains the different types of business entities that are available for registration: ◾Business ◾Company ◾Limited Liability Partnership ◾Limited Partnership Watch more videos from ACRA Registration of a Local Company: https://youtu.be/UQZY2JOgYag Registration of a Business: https://youtu.be/acL2BQxz0Ao Registration of a LP: https://youtu.be/InmVnWjUDpU Registration of a LLP: https://youtu.be/aZohizeIPuA Related Playlists Business Registration: https://bit.ly/2KW3ow8 How-to Guides: https://bit.ly/2IjXTW9
Views: 31000 Acra
New Tax Bill & Small Businesses: (2 Major S-Corp changes) in the GOP Tax Law "Tax Cuts and Jobs Act|
 
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Tax Cuts and Jobs Act has caused some confusion for LLC's and S-Corps. This video is meant to show two massive changes for S-corps and pass through entities in the new tax bill or the Tax Cuts and Jobs Act https://nuancefinancial.com https://feedbackwrench.com If you're a small business, the new GOP tax plan has a n
Views: 12101 FeedbackWrench
Small Business Taxes - Etsy Shop - E-Commerce - Sole Proprietor
 
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It's Tax Day, April 15th (at least when I recorded this), so why not talk about taxes and bookkeeping. Everyone's favorite topics, right? Ha! I'm cracking myself up. Hopefully everyone had a smooth tax season and this video can help you! Let me know your thoughts. Oh yeah! Subscribe too! I talk about advice I'd give any small business owner who is starting out and dealing with paying taxes as a sole proprietor for the first time. All of this is basic and off the cuff advice. I'm not a bookkeeper or tax expert by any means. Please hire an accountant for official tax help. Things I talk about in this video: Etsy Shop Owners E-Commerce Expenses Small Business Taxes Sole Proprietor Business Expenses Cost of Goods Sold Bookkeeping Software Outright Bookkeeping: http://outright.com/ Accountants Tax Mistakes Business Accounts Contract Labor Payroll Please comment/subscribe. Let me know what you think! Recorded: Friday April 15, 2015 MANE MESSAGE: http://www.manemessage.com TWITTER: http://www.twitter.com/manemessage INSTAGRAM: http://www.instagram.com/manemessage FACEBOOK: http://www.facebook.com/manemessage
Views: 25700 Olivia Hayward