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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: 17982 LinkedIn Learning
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: 209432 180 Law Co. LLC
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: 124475 You Can Reach J
Top Business Deductions for 2019
 
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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: 15624 Hector Garcia CPA
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: 40557 mahalodotcom
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: 34176 Acra
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: 16531 mahalodotcom
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.
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: 330523 FeedbackWrench
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: 35789 mahalodotcom
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: 4134 Credit Suite
Small business taxation explained
 
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Jamie Golombek explains the top three taxation changes for private corporations.
Views: 793 National Post
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: 121828 Marie Forleo
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: 38748 John Deere
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: 13278 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: 235012 incorporate.com
Choosing The Right Business Entity
 
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You know that you are ready to start a business, and now the question is what type of entity should you form for your specific business situation? There are many different choices and it is important that you understand your options so that you will choose the right one. Join Aaron Young, author of the best-selling book “The Corporation Manual”, as he describes the common entity types like C-Corporations, S-Corporations, Limited Liability Companies (LLCs), and Non-profit organizations. He will discuss the benefits of each entity type to help you understand what is right for you. Aaron Young is CEO of Laughlin Associates, a company who offers professional Corporation and LLC formation services, advanced asset protection strategies, and corporate compliance assistance. Laughlin Associates has been in business since 1972 and has helped over 80,000 small businesses succeed. Visit: http://www.LaughlinUSA.com to learn more on how we can help you take the right steps or call 1-800-648-0966 for a complimentary consultation.
Views: 4782 laughlinusa
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: 11590 The Business Channel
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
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: 1233 nicodemoWilson
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: 161 Courtnie Gore, Esq.
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
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: 7690 Gusto
C Corporations vs S Corporations Explained
 
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What is the difference between a C Corp and S Corp? How are C Corps taxed? How are S Corps taxed? A C Corp is a separate taxpayer, with income and expenses taxed to the corporation and not owners. You can elect S corporation status by filing a form with the IRS and with your state as it is more attractive for small-business owners. Once applicable, the profits, losses and other tax items pass through the corporation to you and are reported on your personal tax return This is considered a flow-through entity. Both S and C Corps; - Offer limited liability protection - Require articles of incorporation - Can offer a way to sell equity S Corps are different; - They have a 75 shareholder limit (for businesses started before 2004) and a 100 shareholder limit for those started after 2004 - No corporate taxed is paid which can save owners a lot of money If you have any other questions, please comment below. If you enjoyed the video and found it helpful, please like and subscribe to FinanceKid for more videos soon! For those who may be interested in finance and investing, I suggest you check out my Seeking Alpha profile where I write about the market and different investment opportunities. I conduct a full analysis on companies and countries while also commenting on relevant news stories. http://seekingalpha.com/author/robert-bezede/articles#regular_articles
Views: 30401 FinanceKid
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: 30051 mahalodotcom
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: 41867 FeedbackWrench
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: 23504 Nick Loper
Close Business Entity in California
 
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Video published on May 10, 2016 Effective January 1, 2019, not all entities may need to revive to dissolve or cancel. If your entity is a domestic corporation or domestic limited liability company, did not conduct business, or ceased doing business and has no assets, please follow this link for further information https://www.ftb.ca.gov/businesses/faq/Closing_a_Business_Entity.shtml
Views: 38047 FranchiseTaxBoard
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
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: 60413 Ian DiNovo
Small Business Basics
 
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Learn about some of the basic legal requirements to start a business in Maryland. Get answers to your small business questions: What's the difference between an LLC and a partnership? Do you have to register with the state? Why form a business entity?
Views: 14 Patriots Law
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: 17940 Hawthorn Law
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
Business Entity (Fast!)
 
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Find Out More: https://thebusinesscreditbuilders.com/the_business_lounge/aff_sque7/ How to start a Small Business and Build Business Credit. Discover How it is done. Free Webinar Reveals all. "How to Get $250,000 in Business Credit for Your EIN that's Not Linked to Your SSN... and Easily Get Business Loans and Credit Lines" Find Out More: https://thebusinesscreditbuilders.com/the_business_lounge/aff_sque7/business entity How to obtain a "business entity" Free business credit report How to obtain a "free business credit report" Get your free business credit report Build business credit in 30 days Companies that help build business credit How to build business credit with bad personal credit How to build business credit without using personal credit How to build business credit without personal guarantee How to establish business credit for the first time Business credit file Build business credit 2018 8 Steps to Establishing Business Credit. Put Your Business on the Map. Establish and Maintain Good Credit Relationships with Suppliers and Vendors. Obtain an Employer Identification Number. Pay On Time All the Time. Open a Business Credit Card. Get Incorporated. Transition Commercial Expenses Away from Personal Credit File. Find Out More: https://thebusinesscreditbuilders.com/the_business_lounge/aff_sque7/ Stop Using your personal credit for your Business
Business Entities
 
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Gary Blume is a small business attorney who has been practicing in Phoenix, AZ for the past 20 years. Gary's focus is in helping small business owners succeed with their business. To learn more about us and what we can do you for you and your business, check out our website at http://www.blumelawfirm.com
Views: 60 BlumeLawFirm
Business TAX TIPS from my CPA, Why Good Bookkeeping is Important & What to do with Surplus Inventory
 
01:08:23
Its that topic that few people like to talk about, taxes! But with tax season fast approaching, business owners like you need to know the most important information to stay productive. On this episode of The Amazing Seller, Scott invites Josh Bauerle back on the podcast to talk about all the relevant info sellers like you need to be aware of for the upcoming tax season. Together they cover why bookkeeping is so important, when to outsource a bookkeeper, what you can deduct as a business owner, what to do will inventory that won’t sell, what type of business entities to create and when, and so much more! You don’t want to miss a minute of this helpful episode! WHY GOOD BOOKKEEPING IS SO IMPORTANT. Any good builder knows that if you want to have a solid end product, you’ve got to have a quality foundation. That same truth applies to building a business, if you want to succeed, don’t skimp on the basics! On this episode of The Amazing Seller, you’ll hear from CPA Josh Bauerle as he shares the importance of good bookkeeping. According to Josh, part of the process of keeping organized books is having separate accounts for your business. You need to have a bank account that is specifically set aside for your business, not a mixture of business and personal use. That same principle needs to be applied to your use of credit cards too. Get more helpful advice regarding bookkeeping and much more from Josh on this episode! HOW DEDUCTIONS CAN HELP YOU SAVE BIG! Did you know, as a business owner, that you have a wide range of options at your disposal for deducting costs associated with your business? As a business owner who is likely running a large part of your business out of your home, there is a list of ways you can use deductions on everyday categories. For instance, you can deduct up to ten percent of your mortgage payments if you work out of a home office. You can also deduct utilities such as internet service and even travel costs! Learn more about tax deductions on this episode of The Amazing Seller with guest CPA, Josh Bauerle! WHAT YOU CAN DO WITH INVENTORY THAT WON’T SELL. Have you ever been told that you should buy up lots of inventory before the end of the year to use it as a tax write off? Is that sound advice? What should you do with inventory that you can’t seem to sell no matter what you do? On this episode of The Amazing Seller, Scott and his guest, CPA Josh Bauerle go over some helpful options to both scenarios for sellers like you to consider. For the first scenario, Josh says that you can not use the purchase of new inventory as a write off until that inventory has been sold. For the second scenario, Josh says that it is a good idea to consider inventory you can’t sell as “Scrapped Inventory,” this allows you to write off the cost of acquiring that product as long as you document that you’ve disposed of it. FOUR DIFFERENT TYPES OF BUSINESS ENTITIES YOU SHOULD CONSIDER CREATING. As you start building your ecommerce business, you might be left with the question of which business entity you should create. Which option is the best one to select at the stage you find yourself in? On this episode of The Amazing Seller, Josh Bauerle breaks down the four options of business entities you can create and roughly when is the most appropriate time to set them up for your business. The four entities you can create are; Sole Proprietorship or if you have a partner, a General Partnership. Limited Liability Company also known as an LLC. S Corporation. C Corporation. To hear Josh break down each option and when it would be best to consider creating the entity that is the best fit for you, listen to this episode to find out! OUTLINE OF THIS EPISODE OF THE AMAZING SELLER [0:03] Scott’s introduction to this episode of the podcast! [5:00] Why bookkeeping is so important for business success. [12:30] Outsource a bookkeeper. [15:00] What can business owners deduct? [25:00] Can you deduct inventory that hasn’t been sold? [28:00] What is “Scrapped Inventory?” [32:30] The question you should ask yourself when thinking through deductions. [35:30] Josh talks about the different types of entities that you can create. [47:00] How do you know which entity to create? [48:30] When do you have to collect sales tax? [55:00] How you can save money by running your business outside of the US. [58:30] Will the new US tax legislation impact Amazon sellers? [1:04:00] Closing thoughts from Josh. LINKS MENTIONED IN THIS EPISODE http://www.cpaonfire.com http://www.cpaonfire.com/firenation http://www.theamazingseller.com/fetcher http://www.taxjar.com Zero - https://zerofinancial.com/ Quickbooks Online - https://quickbooks.intuit.com/ Wave - https://www.waveapps.com/ GoDaddy Bookkeeping - https://bookkeeping.godaddy.com/ Bench Bookkeeping - https://bench.co/ GET THE FULL TRANSCRIPT HERE: https://theamazingseller.lpages.co/leadbox/143ba5ff3f72a2%3A16f89229ef46dc/5764705775779840/
Views: 1005 The Amazing Seller
Business Entities - S Corporations
 
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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 an S 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: 8454 mahalodotcom
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: 4700 The Business Channel
2017 small business webinar
 
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You can read the transcript here: http://download.asic.gov.au/media/4300489/small-business-webinar-transcript.pdf **************** ASIC has teamed up with the Australian Taxation Office, Fair Work Ombudsman, Australian Competition and Consumer Protection and the Australian Small Business and Family Enterprise Ombudsman to discuss what they are doing to help small businesses compete on a level playing field. The discussion was presented as a Webinar panel discussion that was hosted by well-known television newsreader Tracey Spicer. Viewers were able to access the discussion live online or to download on demand. The multi-agency Webinar titled, 'Levelling the Playing Field for Small Business', covered a range of important topics that included: • Relevant resources and information available to small business. • How government agencies are reducing red tape to make it easier for small business operate legally. • What the agencies are doing to level the playing field and make competition fairer. • What small business can do to protect themselves from scams. ASIC Commissioner John Price discussed the resources ASIC has available to small business, the new unfair contract term protection laws for small business and the latest scams targeting ASIC customers. John Price was joined by FWO Executive Director Lynda McAlary-Smith; ACCC Deputy Chair Dr Michael Schaper; ATO Acting Deputy Commissioner Emma Rosenweig and ASBFEO Ombudsman Kate Carnell.
Views: 793 ASICmedia
What are the most common forms of business entity?
 
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http://thebusinessprofessor.com/what-are-the-most-common-forms-of-business-entity/
Perfect Small Business You Can Start
 
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https://www.freedommentor.com/free-book - Just imagine the perfect small business that you could start. What would it look like? (1) Work for Home: No expensive office space to rent. (2) Part-Time: You don't have to quit your day job to do it. (3) Make alot of Money: Hundreds of thousands each year. (4) No Equipment (5) No Inventory (6) No Employees (7) Low Upfront Investment: A tiny fraction of the cost of a McDonald's franchise. (8) You Can Do It in Your Own Backyard (9) No Licenses or College Degrees Required (10) Satisfies a Basic Human Need What small business hits all of those points? What's the perfect small business that you can start? Creative Real Estate and Flipping Houses! To learn more, grab a free copy of my best selling book, "How to be a Real Estate Investor" here: https://www.freedommentor.com/free-book
Views: 39621488 Phil Pustejovsky
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
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: 15597 Hawthorn Law
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: 6947 Credit Suite
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: 19565 Graham Cochrane
Starting S Corporation Vs C Corporation In 2018 2019 May Not Get Small Business Loans Or Save Taxes
 
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Build Business Credit 👉 https://e8w74.app.goo.gl/3wfg 👈 Grow your Shopify.Store 👉 https://e8w74.app.goo.gl/shopify 👈 design a web page free 👉https://e8w74.app.goo.gl/clickfunnels Starting S Corporation Vs C Corporation In 2018-2019 May Not Get Small Business Loans Or Save Taxes An S corporation, for United States federal income tax purposes, is a closely held corporation (or, in some cases, a limited liability company (LLC) or a partnership) that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. In general, S corporations do not pay any income taxes. Instead, the corporation's income or losses are divided among and passed through to its shareholders. The shareholders must then report the income or loss on their own individual income tax returns. S corporations vs. C corporations Like a C corporation, an S corporation is generally a corporation under the law of the state in which the entity is organized.[5] However, with modern incorporation statutes making the establishment of a corporation relatively easy, firms that might traditionally have been run as partnerships or sole proprietorships are often run as corporations with a small number of shareholders in order to take advantage of the beneficial features of the corporate form; this is particularly true of firms established prior to the advent of the modern limited liability company. Therefore, taxation of S corporations resembles that of partnerships. Unlike a C corporation, an S corporation is not eligible for a dividends received deduction. Unlike a C corporation, an S corporation is not subject to the 10 percent of taxable income limitation applicable to charitable contribution deductions. s corporation - S corporation vs C corporation is a common comparison for individuals interested in starting a business LLC vs Corporation · What is an LLC Operating Agreement California S Corporation Advantages and Disadvantages S corporation advantages include: Protected assets Delaware s corporation filing requirements,movie maker quel format video,film editor for hire,marketing management 2 pdf - PDF Review An S corporation in Texas must file the appropriate document with the Texas Secretary of State to setup the business how to convert to an s corporation?. Conversion from C corporation S corporations that have previously been C corporations may also, in certain circumstances, pay income taxes on untaxed profits that were generated when the corporation operated as a C corporation. This is very common with uncollected accounts receivable or appreciated real estate. For example, if an S corporation that was formerly a C corporation sells an appreciated asset (such as real estate) and the appreciation occurred during the time the corporation was a C corporation, the S corporation will probably pay C corporation taxes on the appreciation—even though the corporation is now an S corporation. This Built In Gain (BIG) tax rate is 35% on the appreciated property, but is only realized if the BIG property is sold within 10 years (starting from the first day of the first tax year of conversion to S-Corp status.) The American Recovery and Reinvestment Act of 2009 reduced that 10-year recognition period to 7 years (if that 7th year precedes either 2009 or 2010.) The Small Business Jobs Act of 2010 further reduced the recognition period to 5 years. this video explains the major characteristics of an s corporation ( s corp ). https://en.wikipedia.org/wiki/S_corporation What are the benefits of an S corporation? What is the difference between an LLC and an S Corp? What is an S corporation vs C Corp? What is the difference between C and S Corp? S Corporations | Internal Revenue Service - IRS.gov https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations May 3, 2018 - S corporations are corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. ‎S Corporation Employees ... · ‎S Corporation Compensation ... Eligibility s-corporation form 2553 how it works and saves tax dollars on small business how to lower your taxes tax difference between llc and s-corp - llc vs. s corporation explanation (freelance tax & 1099 tax) s-corp or llc - which is better? (by john m miller, cpa) what is an s-corp? all up in yo' business: what the heck is an s corporation? s corporation explained llc vs s corp: when not to become an s-corporation llc vs s corporation learn about s corporation in 6 minutes - free tax saving tips s-corporation how to close - liquidation https://youtu.be/sx8TJ6tzbTY
Views: 1083 HOUSTON MCMILLER
WHAT BUSINESS ENTITY SHOULD I START WITH? CLOTHING BRAND
 
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Want to start a fashion brand or clothing line? Let clothing brand mentor Jon Phenom help. SUBSCRIBE! https://www.youtube.com/subscription_center?add_user=DesignerJonPhenom I offer consultation/ brand coaching for start-ups. +Design +Brand Strategy +Production +Streamlining +EMAIL THE KID: hi (at) jonphenom (dot) com +FB https://facebook.com/CBMJonPhenom/ +INSTAGRAM: http://instagram.com/jonphenom/ +SNAPCHAT @mr.jonphenom +TWiTTERS http://twitter.com/jonphenom
Views: 1055 Jon Phenom
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: 49390 Genesis Business
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: 16206 Money and Life TV
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: 39693 Charles Shapero