Home
Search results “Llc for a small business”
Sole Proprietor, LLC, or Corporation? - All Up In Yo' Business
 
08:44
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: 175009 180 Law Co. LLC
What is an LLC and Should You Use One for Your Small Business
 
04:14
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: 39615 David Herzog
What is a Limited Liability Company or LLC?  - LLC.com
 
02:00
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: 220361 incorporate.com
Top 10 Things Every LLC Needs - All Up In Yo' Business
 
07:16
10. Agreements. Whether they are service agreements, independent contractor agreements, subcontractor agreements, etc., most small businesses are going to need some sort of an agreement in place to operate safely (in the legal sense) and effectively. The type of small business you have will determine the types of agreements you will need to have in place. For example, as an attorney, I have a service agreement (called an Engagement Letter) with each and every client that makes it clear what I am going to be doing for the client, my fees, how the client can expect to be billed, what I expect or need from the client, my policies that affect the client, what happens if there is a disagreement between us, and so on and so forth. Most, if not all, small businesses that provide a service to their customers should, at a minimum, at least have a similar type of service agreement with their clients. It protects both the small business and the client. 9, 8, & 7. Licenses. Specifically, Tax Licenses, Business Licenses, and Other Licenses. Honestly, they are all equally important and depend largely on the nature of your small business. 6. Form 2553 (S Corp). This is the IRS form that needs to be filed if you want your small business to elect to be taxed as an S Corporation. Whether or not you need to file form 2553 is going to depend on whether it would make sense for you tax-wise to elect to be taxed as an S Corp. 5. Insurance (General Liability, Workers Comp, etc.). Every small business is going to need some type(s) of insurance. The type of insurance your small business will need also depends on what type of business you are operating. 4. Initial Resolution/Consent. Although this isn’t necessary (at least in Colorado) for all small businesses, it is usually a good idea to have an Initial Resolution or Initial Consent to Action when starting a small business in order to demonstrate that your business has adopted certain documents, like it’s Operating Agreement or Articles of Organization, and that you as the business owner have resolved to operate your business in accordance with those documents. 3. Form SS-4 (Federal Tax ID). IRS Form SS-4 Application for Employer Identification Number is the form that you file with the IRS to get a Federal Tax ID number (aka EIN or Employer Identification Number) for your small business. 2. Operating Agreement or By-Laws. Every LLC needs an Operating Agreement. Let me say that again in case you missed it: every LLC needs an Operating Agreement. Even if it is not required by statute (Colorado does not require it), it is still a vital internal document for your small business to have. An Operating Agreement is the internal document where the owner or owners (aka the members) agree on how the business is going to be operated, i.e., type and nature of business; what the business is going to do; how members are going to get paid; how distributions are going to be made; what will happen in the event of disagreement between the members; etc. All of this information is set forth in the Operating Agreement. The By-Laws of a corporation serve basically the same purpose as the Operating Agreement of an LLC. 1. Articles of Organization (or Articles of Incorporation). Every single LLC in existence must have Articles of Organization. I can say this with complete certainty because you will need to file Articles of Organization with the Secretary of State in order to create your LLC. Bottom line: if you did not file Articles of Organization, then you don’t have an LLC. Similarly, every corporation in existence must have Articles of Incorporation. The Articles of Organization or Incorporation are what brings the LLC or corporation into a legal existence. Without them, your small business, whether it is a corporation or an LLC, does not legally exist. Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/AUIYB The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by 180 Law Co. LLC, with its principal office located at 50 S. Steele Street, Suite 250, Denver, CO 80209. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship 180 Law Co. LLC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. All Up In Yo’ Business® is a registered trademark of 180 Law Co. LLC. ©180 Law Co. LLC. All rights reserved.
Views: 147139 180 Law Co. LLC
Business Startup Tips - LLC vs S Corp: Which is better to minimize tax?
 
10:44
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: 9350 The Business Channel
LLC vs. S Corporation: What's the Difference for Small Business Owners?
 
02:54
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: 2787 Gusto
Tax Difference between LLC and S-Corp - LLC vs. S Corporation explanation (FREELANCE TAX & 1099 Tax)
 
08:38
Best LLC vs. S-Corp walk through on the internet! 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: 270351 FeedbackWrench
Advantages of an LLC | What is an LLC?
 
02:42
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: 37693 Charles Shapero
LLC Formation for Small Business - How to, Start Now
 
03:02
How to get an LLC for your business http://www.smallbusinessy.com/how-to-form-llc/ According to the IRS, the purpose of an LLC is to 'provide the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership.' For startups, the term LLC may indicate "big company" or something expensive and time consuming. Well, that's not really the case anymore. Forming an LLC is easier and more affordable than ever, and there are advantages to forming an LLC from the getgo. Entrepreneurs form an LLC to limit personal liability and save money on taxes. As a pass-through entity, all profits and losses pass through the LLC to the owners. Once formed, the LLC exists as a separate legal entity. It exists under the law and has its own Employer Identification Number (EIN). The LLC provides owners with a limited personal liability for corporate actions -- generally limited to the amount of your investment. The LLC also avoids double-taxation which happens when you form your business as a corporation. Double taxation occurs when a company's profits are taxed, then are taxed again when the profits are paid out to the owners/shareholders. Other benefits of forming an LLC are: • Increased Credibility • Deductible employee Benefits • Facilitation of raising capital • And a separate liability for corporate debts To form an LLC, you'll need to: • Select a business name and file an "articles of organization" with your state and.. • Pay a $100-$800 fee(depending on your state) There are additional requirement which vary by state. Those can include an: • Making an Operation agreement • Appointing of a registered agent • A Statement of Information • Publication requirements The process can be complicated and risky to do on your own. Corporate lawyers can be hired to assist in the process for $200-500 an hour. If you wan to save some money, but still get guidance and assistance, there are online services which charge $100 or less, and will greatly assist with your basic LLC formation. Head on over to http://smallbusinessy.com for reviews on online LLC submission and learn more about forming an LLC, selecting software, internet marketing and more. http://youtu.be/sFusav8H8Ys
Views: 385 Smallbusinessy.com
2017 Step-By-Step: How To Establish An LLC/ Business For $50!
 
10:02
Arizona CC Link: http://ecorp.azcc.gov/Entity EIN# LINK: https://www.irs.gov/ Please note i am not a professional with setting up LLC or businesses. please contact a legal professional before setting up your business. In todays video i help you understand how to set up and establish an LLC, its the least expensive way according to my knowledge and i hope you all enjoy! Thank you so much for the support, I'd like to welcome anyone with any questions to message me as i would love to be a part of your success. If you have any suggestions for future videos such as Day Trading, Investing, Stock Market, Realestate, Car Sales, Robinhood, TD Ameritrade, Fidelity, Entrepreneurship, Forex, Online Marketing, Online Sales or fun daily vlogs. Please let me know. For those who are interested in Trading & Investing, I encourage you to join my Facebook Team of over 29,000 Entrepreneurs for free! Link: https://www.facebook.com/groups/206449886400926/ Techbuds Instagram: https://www.instagram.com/techbudsolutions/ Ricky's Instagram: https://www.instagram.com/rickygutierrezz/ Do You Want To Live In One Of My Entrepreneural Homes? Sign up: https://www.milkyassets.com/ Want to Rent a car on Turo, Get $25 Off: https://turo.com/c/rickyg37 DISCLAIMER: Please note that i do not charge for any of my services or ask for any information. I always encourage our members to trade ONLY what you understand and never based on anyone's opinion. My videos are for entertainment purposes only.
Views: 27091 Ricky Gutierrez
Types of Small Business Insurance for Your Business
 
04:00
Introducing different types of small business insurance plans for your business. Part 2 - Why you need small business insurance? https://www.youtube.com/watch?v=Ey1xO4OK3_k If you're looking for learning different types of small business insurance then, you need to watch this video. Walk In The Park by Audionautix is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Artist: http://audionautix.com/ If you've any questions on small business insurance then, you can ask your issues in comment box. Thanks for watching these 3 types of small business insurance for your business.
What is a Limited Liability Company (LLC) and How To Start Your Own Business
 
14:15
In this video we cover what an LLC is and show you how to start your own to get your business operating. LLC is short for Limited Liability Company, which is a business structure that allows you to reduce your liabilities when starting your business. Follow the steps provided in this video and you will be ready to start your business in no time. For legal questions feel free to use the following database of lawyers in your area: http://bit.ly/Ask-A-Lawyer I have included the list of resources mentioned in this video here for you to follow along: 1. Know Where To File Your State Website OR Streamline the process with: Rocket Lawyer: http://bit.ly/RocketLaw-LLC CorpNet: http://bit.ly/CorpNet-LLC 2. Limited Liability Company Documents Customize your operating agreement here: http://bit.ly/LLC-Operating-Agreement 3. Business license Obtain through your state or get it through a 3rd party 4. File DBA File with your county clerk office 5. IRS For EIN # http://bit.ly/IRS-GOV 6. Bank Account 7. Launch Your Store Shopify Free Trial: http://bit.ly/Get-Shopify Bluehost: Money Back Gaurantee http://www.bluehost.com/track/bluejay90 If you enjoyed this video and want to make a one time or recurring donation please visit my Patreon Page at: http://bit.ly/Support-The-Channel All funds raised will be used to create additional videos and help reach people who need this content. Start A Brand ASAP- Connecting entrepreneurs with the resources and content they need to start their business ASAP. Download the free manufacturer and supplier guide and also receive the 10 Step Program right to your inbox. http://bit.ly/Apparel-Download John Santos on Social: https://www.instagram.com/johnxsantos/ https://twitter.com/johnxsantos SC: @revivejohnny LINKS TO BUSINESS RESOURCES AND INFO. **** RESOURCE LINKS******** ***Shopify- Website Platform, 14 Day Risk Free Trial http://bit.ly/Get-Shopify ***Bluehost- Web hosting package, 30 Day Money Back Guarantee http://www.bluehost.com/track/bluejay90 *** Design Package- Photoshop, Illustrator & More http://bit.ly/Creative-Cloud1 Upload and print your designs with Printful: http://bit.ly/Try-Printful ***Fiverr- Logo Design and Graphics http://tracking.fiverr.com/SH1rz *AFFILIATE DISCLAIMER: The description may contain affiliate links, which means that if you click on one of the links, I may receive a small commission (at no added cost to you). This helps me create new videos to support your journey. If you could reference back to this description when you are ready to use a service, I’d greatly appreciate it.
Views: 26807 John Santos
The top 7 things NOT to do when starting a business
 
11:06
* Join my BELIEVE newsletter: http://www.evancarmichael.com/newsletter/ Emil: "Hey Evan! I have been watching your videos for a while now. Hope you enjoyed your trip to Asia! I am enthusiastic about entrepreneur videos. I have searched on Youtube and Google and I always get videos/articles about what to do. I believe knowing what NOT to do is equally important. Usually, all I get is generic tips such as "dont grow too fast" but there are no concrete case studies. But when it comes to successful stories, there are specific examples we can learn from. I was thinking if maybe you can have videos/articles analysing and explaining how some real businesses failed, especially start ups. It would be great if you can use your influence to encourage entrepreneurs who have failed to share their stories with you. That way, the mistake will only be made by once because we all will have learnt from it Hopefully you'll consider my suggestion" ENGAGE * Subscribe to my channel: http://www.youtube.com/subscription_center?add_user=Modelingthemasters * Leave a comment, thumbs up the video (please!) * Suppport me: http://www.evancarmichael.com/support/ CONNECT * Twitter: https://twitter.com/evancarmichael * Facebook: https://www.facebook.com/EvanCarmichaelcom * Google+: https://plus.google.com/108469771690394737405/posts * Website: http://www.evancarmichael.com EVAN * About: http://www.evancarmichael.com/about/ * Products: http://www.evancarmichael.com/zhuge/ * Coaching: http://www.evancarmichael.com/movement/ * Speaking: http://www.evancarmichael.com/speaking/ SCHEDULE * Mon - 1 Minute Mondays: https://www.youtube.com/playlist?list=PLiZj-Ik9MmM2HwduoMCpvZRhd2qE22Fg- * Tues - Tech Tuesdays: https://www.youtube.com/playlist?list=PLiZj-Ik9MmM3NGvdl33mEwdUdr19zti9s * Thurs - Thankful Thursdays: https://www.youtube.com/playlist?list=PLiZj-Ik9MmM2Scsq-0Er3mA8U3Kqz9fiV * Fri - Famous Fridays: https://www.youtube.com/playlist?list=PLiZj-Ik9MmM30QoA2ygo5RWzfQm8y7ScL * Sun - Famous Failures: https://www.youtube.com/playlist?list=PLiZj-Ik9MmM2aeaKPqI5ILrNcLjbQZDob * Your Questions - Every day! Help us caption & translate this video! http://amara.org/v/FyN4/
Views: 1192035 Evan Carmichael
How Do I Pay Myself in a Single-Member LLC? - All Up In Yo' Business
 
08:48
Learn more about 180 Law Co. LLC by visiting http://180lawco.com. One question that I get asked quite often, because it’s a really good question, is how the owner of a single-member LLC is supposed to pay him/herself. There are two possible answers to this question, depending on how the LLC is taxed. Unless the LLC elects otherwise, a single-member LLC is considered a “disregarded entity” and all of the income to the LLC is treated as income to the business owner, and is all subject to self-employment tax. So basically, the owner of a single-member LLC can pay himself however and whenever he wants, keeping in mind a few important considerations: 1. Make sure you are prepared to pay taxes. Since the LLC is a disregarded entity, if the business earns $100k but you only “pay” yourself $50k, you are still going to be responsible for paying all of the taxes, including self-employment taxes, on the full $100k. (For simplicity’s sake, I am pretending there are no deductions or anything.) So you need to set aside enough money to make sure you can cover your taxes. 2. The business has to remain adequately capitalized. This means that you need to keep enough money in the business to cover all your overhead, debts, bills, salary for employees, etc. You should also leave some extra “padding” for possibly building up your business, purchasing equipment, and whatever else you may decide to do with your business. In the books, any payments to yourself should be recorded as “Member Distribution” or “Member Withdrawal.” If the LLC elects to be taxed as an S Corporation, on the other hand, you have to be paid a “reasonable” salary. Self-employment taxes will only be paid on that salary rather than on the full amount of profit the business earns. Any money that the business owner takes above that reasonable salary is considered a dividend and won’t be subject to self-employment taxes. To learn more about S Corporations, watch my earlier video What the Heck is an S Corporation at http://youtu.be/i5to7Da3wMw?list=UUNh7tqEn68tf0oOfq4NsFsg If your LLC is not taxed as an S Corp, you don’t need to put yourself on payroll, since those member distributions aren’t treated as normal payroll. If your LLC is taxed as an S Corp, then the salary you earn can be part of your payroll, and any additional dividends will be separate from that. Whether or not you elect to have your LLC taxed as an S Corp and how to handle and record the money that you pay yourself is an important conversation that should be had with your accountant, bookkeeper, & attorney. Doing it the “right” way can help minimize your tax liability and can make your life (and that of your accountant) much easier come tax time. Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/AUIYB The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by 180 Law Co. LLC, with its principal office located at 50 S. Steele Street, Suite 250, Denver, CO 80209. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship 180 Law Co. LLC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. All Up In Yo’ Business® is a registered trademark of 180 Law Co. LLC. ©180 Law Co. LLC. All rights reserved.
Views: 355506 180 Law Co. LLC
How to Write Off Start Up Costs | Mark J Kohler | Tax & Legal Tip
 
04:23
Sign up for my weekly newsletter now! With awesome tax and legal tips, upcoming and current tax reforms, deadlines, special offers from my Lawfirm and Accounting Firm, and much much more! Don't miss out on this opportunity, It's FREE!! how could you get better than that!? Click the link below: http://markjkohler.com/youtube/ This video is about how to Write Off Start Up Costs To Download my FREE E-Book "The 10 Best Tax-Saving Secrets Everyone Should Know", or make an appointment for a FREE interview with an attorney or CPA visit: http://www.markjkohler.com/youtube Follow me on my social media with DAILY and WEEKLY Tips and Blog Articles, and also catch me surfing at: http://www.markjkohler.com/social To purchase my new book: "The Tax and Legal Playbook" please visit the Entrepreneur bookstore here: http://amzn.to/1cWlhor Check out my Law Firm KKOS Lawyers at http://www.kkoslawyers.com Visit my Accounting Firm K&E CPAs at: http://www.ke-cpas.com Help us caption & translate this video! http://amara.org/v/aTiu/
Views: 16796 Mark J Kohler
Starting a Limited Liability Company ( LLC) - Tax Benefits for Home Business | Mike Hobbs
 
06:32
Download My FREE "4G Daily Marketing Plan" Here: http://www.mikehobbs.me/checklist Grab your free tax and business consultation Here: https://incitetax.com/free-tax-planning-sign-up/ In this interview we talk about How to start a Limited Liability Company and some of the LLC tax benefits you get for home business or small business entrepreneurs. This Guide to starting an llc is something that we recommend everyone go through even if you have not made any money yet. This process is as simple as starting an llc for dummies and if you are wondering: what is an llc? Look no further. Grab your free tax and business consultation here: https://incitetax.com/free-tax-planning-sign-up/ Connect With Mike Hobbs: Visit Mike Hobbs BLOG: http://whoismikehobbs.com Like Mike Hobbs on FACEBOOK: https://www.facebook.com/prosperwithmike Follow Mike Hobbs on INSTAGRAM: http://instagram.com/mikemhobbs Follow Mike Hobbs on TWITTER: https://twitter.com/mikehobbs For more tips on creating freedom from home subscribe to Mike Hobbs TV at: http://mikehobbs.tv Pick up Mike Hobbs "4G Daily Marketing Plan" so you can use to generate more leads in your online business here: http://www.mikehobbs.me/checklist -~-~~-~~~-~~-~- Please watch: "Why The Multi Level Marketing Failure Fate Is So High [Forbes Opinion] | Mike Hobbs" https://www.youtube.com/watch?v=ke5WrPJj43I -~-~~-~~~-~~-~-
Views: 41149 Mike Hobbs
Small Business: How Do I Pay Myself in a Single-Member LLC
 
03:09
This video helps answer some of the most basic, common questions about how to pay yourself in a Single-Member LLC.
Views: 1727 Ashley Cameron
LLC vs Sole Proprietor: Which is best for YOUR business?
 
14:57
►► 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: 2389 Graham Cochrane
LLC vs S-Corp - What You Need to Know
 
08:37
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. You will also want to register for our upcoming live training: http://www.hawthornlaw.net/training If you need to get a hold of me, you can schedule a call with me using my clarity link: https://clarity.fm/jameshart Need more information on starting a business? Download our cheatsheet here: https://www.hawthornlaw.net/cheatsheet 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: 3555 Hawthorn Law
Avoid Paying Taxes Legally!!! The Power of A Home-based Business
 
17:12
Chinaza Duson, Small Business Tax Strategist, is also a highly sought after Tax Strategist empowering thousands w/advice on why the MUST own a homebased business. Now! Connect with me and START a legitimate homebased business TODAY: http://www.workwithcoachchi.com Chinaza Duson | 404.464.6733 | [email protected] www.certifiedtravelconsultant.com - my business of choice Text Chinaza to 40691 1st Email: [email protected] | 404.464.6733 | 2nd Email: [email protected] | 404.229.5566 - Secondary | NOT only am I #homebased business strategist, a certified tax preparer. I am a National Diamond Council Team Leader in Paycation Travel. We have the perfect vehicle to help you maximize on these amazing tax breaks I speak on here! Contact me today to get started http://www.browngirlgone.com ---- (travel blog) http://www.goodgirlstravel.com (the best tax deductible business) http://www.truthinduced.biz (www.yourtaxgirl.com)
Views: 339004 Chinaza Speaks
Small Business Tax Advice and Tax Deductions
 
14:13
The absolute most Important Tax Planning Strategy/Tool You NEED. This is a Cornerstone to Business planning and preparation. This will Change the way you OPERATE. Please watch and share with Anyone You care about. This Tax Advice is perfect for small business. Tax Relief and Tax deductions reviews. DirtMonkeyU.com and DirtMonkeyUniversity.com The Landscape Business Pro Podcast- The Voice of the Landscaping and Construction Industry. http://landscapebusinesspro.com Genadek Landscaping and Excavating genadek.com GT Lawn Maintenance GTLawns.com Linked In- Hit me up! https://www.linkedin.com/profile/preview?vpa=pub&locale=en_US Twitter: https://twitter.com/LBPpodcast Facebook: https://www.facebook.com/stanley.genadek Email: [email protected] Dirt Monkey: https://dirtmonkey.net Links to Episodes of Landscape Business pro: Greg Chism Geek to Freak Fitness and Lawn Care https://www.youtube.com/user/geektofreakfitness http://landscapebusinesspro.com/geek-to-freak-greg-chism-monetizing-youtube-videos/ Jonathan Pototschnik The Lawn Care Millionaire http://lawncaremillionaire.com http://landscapebusinesspro.com/jonathan-pototschnik-how-to-become-a-lawn-care-millionaire/ Brian Shain Top Notch Lawns https://www.youtube.com/user/TopNotchLawns http://landscapebusinesspro.com/brian-shain-of-top-notch-lawns/ Jordan Harbinger The Art of Charm https://itunes.apple.com/us/podcast/art-charm-confidence-relationship/id212382281?mt=2 http://theartofcharm.com http://theartofcharm.com/best/ http://landscapebusinesspro.com/jordan-harbinger-the-art-of-charm/ Keith Kalfas The Landscape Employee Trap https://www.youtube.com/user/TheEmployeeTrap LandscapingEmployeeTrap.com http://landscapebusinesspro.com/keith-kalfas-landscaping-employee-trap/ Mike Michalowicz http://www.mikemichalowicz.com Profit First, Pumpkin Plan, The Toilet Paper Entrepreneur http://landscapebusinesspro.com/mike-michalowicz-profit-first/ John Lee Dumas Entrepreneur on Fire http://www.eofire.com http://podcastersparadise.com http://landscapebusinesspro.com/john-lee-dumas-entrepreneur-on-fire/ More guests: Vanessa Van Edwards The Science of People, John Gray Men are From Mars Women are from Venus, Certified Contractors Network, Jennifer Kahnweiler: The Introverted Leader, Quiet Influences, The Genius of Opposites, Barry Moltz, YardBook, Aaron Walker
2018 Tax Changes for Small Business
 
31:15
Home Loans by Gil Kerkbashian NMLS 197757 (847) 873-7295
Views: 35402 Gil Kerkbashian
Business Startup Tips - LLC vs S Corp: Which is better for you? Legal Issues for Entrepreneurs
 
05:27
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: 4183 The Business Channel
How to Pay Yourself in a Single Member LLC
 
06:51
In today's video, I share with you the proper method to pay yourself if you own a Single Member LLC. Single Member LLC's are one of the most powerful and flexible legal entities that most online entrepreneurs use to protect not only their business, but also their personal assets. However, if you don't set up the LLC properly, it won't provide you any protection at all. Today we talk about how to pay yourself if you have set up a Single Member LLC. This will be especially helpful for you solopreneurs out there who are building businesses on the side. To schedule a phone conference: http://bit.ly/2KLHyIE Support my channel on Patreon: http://bit.ly/2E3FOd7 I've written a more in depth blog post on this issue at my website: http://bit.ly/2a2GMYy I have also prepared a business building legal checklist that you can download at the following link: https://www.hawthornlaw.net/cheatsheet For more information, you can check me out at: http://www.hawthornlaw.net Or find me on Social at: Twitter: http://www.twitter.com/hawthornlg Snapchat: @jimhart518 Facebook: http://www.facebook.com/hawthornlaw Or join our free online community at: http://www.hawthornlaw.net/facebook
Views: 216259 Hawthorn Law
LLC Protection for Ebay & Amazon Sellers + Small Business
 
09:19
Link to Nola Law- http://www.nolo.com/legal-encyclopedia/limited-liability-protection-llcs-a-50-state-guide.html Thanks for checking out my channel. Make sure to subscribe!! For 1 on 1 coaching Pricing & Availability Email me: Rockstarflipper @Gmail.com JOIN THE FREE FACEBOOK RESELLER GROUP- (questions answered 24/7 from members) https://www.facebook.com/groups/689595301181796/ VIP (paid) Facebook Group- https://www.facebook.com/groups/263997070772761/ *Ebay/Amazon Equipment Photo Lighting Kit- http://amzn.to/2mEdSQq Female Mannequin- http://amzn.to/2uEnCxS Male Mannequin- http://amzn.to/2slaFIw Photo Background- http://amzn.to/2xCBnBD Shipping Tape Gun- http://amzn.to/2s7rc6f Poly Mailers - http://amzn.to/2iVae2t Bubble Mailers - http://amzn.to/2iVcUgt Thermal Printer- http://amzn.to/2mqkhST Ebay/Amazon Scale- http://amzn.to/2hIF2r2 Video Game Cleaner- http://amzn.to/2jD08Iy *Youtube Equipment: Microphone (Blue Yeti Blackout)- http://amzn.to/2sAHTaU Microphone Pop Filter- http://amzn.to/2tKN6NU Logitech Webcam - http://amzn.to/2iZcLc7 Canon G7X II Vlog Camera- http://amzn.to/2ujOgwH Memory Card- http://amzn.to/2xBPDdD Flexi Tripod- http://amzn.to/2xBmuiL Back Up battery canon G7X- http://amzn.to/2wQ1cPG MacBook Pro- http://amzn.to/2xCaUEn (Disclosure, these are amazon affiliate links & I do get paid a small commission if you purchase using them) *My EBAY STORE- https://rover.ebay.com/rover/1/711-53200-19255-0/1?icep_id=114&ipn=icep&toolid=20004&campid=5338069183&mpre=http%3A%2F%2Fstores.ebay.com%2FTheElectronixZone1 *Our personal Vlog Adventure channel- https://www.youtube.com/channel/UCYDfKwFzkHmnTfkHe_G8QcA *FOLLOW ME ON SOCIAL MEDIA: Facebook.com/Rockstarflipper Instagram.com/Rockstarflipper Twitter.com/Rockstarflipper
Views: 3717 RockstarFlipper
Tax Benefits of an LLC Business - Why you NEED a LLC
 
01:36
http://bit.ly/Wx85YD Download Expense Tracker App for Free -- http://www.taxorganizer.biz?affId=135911 For More Tax Help Videos Check Out -- http://ExpenseTrackerApp.net Tax Deduction rules on what you can and can't write off. Tax Benefits of an LLC Business - Why you NEED a LLC SUBSCRIBE to the Expense Tracker Channel to learn how to organize your business expenses so you can save your money on Taxes. Scott Estill is a Lawyer that specializes in helping you save money on big tax deductions. Whether you're an LLC, Sole Proprietor, S corporation or C corporation, Small business, Home business or big business these tips and tricks will benefit you. Be sure to down the Tax Organizer app available for iPhone or Droid, which help help you track and organize your expenses, leaving you better prepared for taxes. 0:01 before you go into business i think you should consider a lot of the the issues 0:05 that are associated with any running any sort of a business and one of the big 0:09 ones you're going to consider is going to be the tax elements of them 0:12 of running a business itself and i think the tax benefits of a business uh... 0:17 primarily are the fact that you're legally now entitled to be able to 0:21 deduct any business expense and a business expense for purposes of the tax 0:26 laws is considered to be any expense that's ordinary necessary in reasonable 0:31 for the business 0:33 and so what we're talking about here when when we talk about ordinary and 0:36 necessary 0:37 is just what the business expenses very common very helpful for your business 0:42 it's it's a similar type expense that other businesses would typically incur 0:46 and the reasonableness element comes into play because the iris wants to make 0:50 sure that whatever you're spending money on is quote on quote reasonable in the 0:54 circumstances 0:55 and i think if you follow those three rules and we'll get to other other of 1:00 the rules for certain types of expenses on other videos 1:03 but if you follow these rules and we have an expense that is helpful for your 1:06 business it's common for your business and it's a reasonable expense you can 1:11 feel feel pretty safe in claiming the deduction and now being able to offset 1:15 some of your otherwise taxable income 1:18 i found the tax organizer apt to be did a very important for a lot of my clients 1:22 it helps them keep their records together keep some organized 1:25 and that's why we're making the tax organizer apple bella before you as a 1:29 free download all you need to do this clip below 1:32 and try it out for yourself have nothing to lose
Views: 30749 ExpenseTrackerApp
How To Avoid 3 Common Legal Mistakes Small Business Owners Make
 
12:48
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: 116512 Marie Forleo
LLC or Corporation: Which is Better
 
06:26
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: 32315 Genesis Business
LLC or S Corporation – Which is Better? – Orange County Small Business Advice
 
10:39
Can I Watch YouTube Videos and Figure It Out for Myself? In this video Andy takes us through the though process and how to decide. Andy Gale is an attorney based in Orange County California who specializes in helping small business owners set-up and manage their companies. Read more here: http://www.incorporationattorney.com/california-llc-or-s-corporation-formation
Views: 2969 CorporateAttorneysCA
4 Steps to Get all of the SECRET Tax Write-offs for Self-employed LLCs PART 1
 
08:31
Get the Business Spreadsheet Template: www.amandarussell.mba/getthebusinessspreadsheet Most self-employed/LLC business owners feel like they're missing out on all the write-offs and tax planning they deserve. As a professional in this industry - I can tell you that people are right to feel this way - but the truth to getting all the write-offs you deserve, most likely isn't the answer you're expecting. In these 4 steps, I'll super simplify what you need to do, to not only get all the tax write-offs you deserve, but also grow your business! It's a win-win. See you in the video!
Views: 13327 Business Finance Coach
10 Steps to Starting a Business: Step 8 Open a Bank Account - All Up In Yo' Business
 
03:09
Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/AUIYB The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by 180 Law Co. LLC, with its principal office located at 50 S. Steele Street, Suite 250, Denver, CO 80209. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship 180 Law Co. LLC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. All Up In Yo’ Business® is a registered trademark of 180 Law Co. LLC. ©180 Law Co. LLC. All rights reserved.
Views: 32100 180 Law Co. LLC
How to File Taxes as a Single Member LLC
 
05:22
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. In the video I referenced an online training I'm going to be doing later this month - for more information click the link below: http://hawthornlaw.net/training If you need to get a hold of me, you can schedule a call with me using my clarity link: https://clarity.fm/jameshart Need more information on starting a business? Download our cheatsheet here: https://www.hawthornlaw.net/cheatsheet #LLC #Taxes #OnlineBusiness
Views: 3243 Hawthorn Law
HOW TRUMP'S TAX PLAN WILL AFFECT SMALL BUSINESS OWNERS (ATTENTION ALL ENTREPRENEURS!)
 
17:13
Do you own your own business? Are you wondering how Trump's new tax plan is going to affect you and your business? Then this is video you HAVE to see. Matthew is joined by Nick Fortune with Fortune DNA to discuss the positive and negative affects this new tax plan will have on Small Business owners and Entrepreneurs and what you can do to put your business in the best position possible come tax season. If you are interested in learning more or getting in touch with Nick, please e-mail us! EMAIL: [email protected] SUBJECT: TAX PLAN INCLUDE: Contact Information / Direct Phone Number Don't forget to sign up TODAY for your exclusive one on one consultation at: http://www.FreeCoachingCalendar.com Want more actionable financial tips and tricks like this one? Check out our YouTube channel here https://www.youtube.com/channel/UC45hHuqWfdi7TIZg0RDG9_g Make sure to check out our social channels for more insight and industry news! Facebook - https://www.facebook.com/VIPFinancialEducation/ Twitter - https://twitter.com/VIPFinancialEd LinkedIn - https://www.linkedin.com/in/vipfinancialed/ BBB A+ Rating - https://www.bbb.org/denver/business-reviews/financial-services/vip-enterprises-llc-in-westminster-co-90024254/ Complimentary Services and Products mentioned in our videos are available for a limited time only and are not guaranteed at the viewing of this video. VIP Financial Education provides resources for educational purposes only. Our education is not a substitute for Legal, Tax, or Financial advice and results vary. VIP Financial Education encourages viewers to do their homework before taking any financial action. VIP Enterprises, LLC may from time to time earn commissions by recommending various products, services, and programs. #TrumpTaxPlan #SmallBusiness #Entrepreneur #VIPFinancialEd
Views: 14526 VIPFinancialEd
LLC vs. Inc: 3 Differences & How to Incorporate Your Company - AngelKings.com
 
06:47
LLC vs. Inc/C-Corp: which should you choose or select? How to incorporate the right way deciding between a limited liability company "LLC" or a C-Corp: http://angelkings.com/llc-vs-inc-incorporate. Learn from the startup expert Ross Blankenship (http://angelkings.com/course). Ross compares and contrasts the benefits of an LLC versus a C-Corporation, further differentiating between an LLC which can be elected as an S-Corporation under the IRS' tax code laws. New business entities and startups need to understand the differences and rules for incorporating. What is the difference between LLC and S Corp? Limited liability companies (LLCs) and C-Corporations are completely different and you'll be smarter knowing how they work before you incorporate! #LLC #Inc #Incorporate Follow the startup expert, and venture capital investor: https://www.linkedin.com/in/rossblankenship https://twitter.com/RossBlankenship
Start A Business (LLC) Online in North Carolina | NC's New Online Process
 
10:11
North Carolina's new ONLINE process to start a Limited Liability Company (LLC) Secretary of State website: https://sosnc.gov/ Business Structure Basics: https://www.entrepreneur.com/article/75118 Choose business structure best for you: http://smallbusiness.findlaw.com/incorporation-and-legal-structures/business-structures-which-one-is-best-for-your-business.html https://www.nerdwallet.com/blog/small-business/business-structure/ FREE small business advice: https://edpnc.com/start-or-grow-a-business/start-a-business/
Views: 2158 Engineered Mojo
All Up In Yo' Business: LLC or Liability Insurance
 
03:37
This video is in response to another great question I received from one of my viewers: If I am a sole-proprietor and have a $250,000 liability insurance policy, do I still need to form my business as an LLC? Or in other words, what's the best route to protect my personal liability? An LLC or liability insurance? Now, if you are a lawyer or have ever gone to law school, you will hopefully appreciate this answer. If not, then I am sorry that you can’t be in on the inside joke. But the answer to that question really is: “It Depends.” It depends on a few factors, including the industry that you are going into and whether or not there is a lot of risk of lawsuits and liability within that industry. It also depends on your tolerance for risk. If you are willing to take a higher risk and save a little bit of money and administrative work, then it might be worth it to go one way or the other. One of the primary purposes of forming a business as an LLC is to give yourself that liability protection, so if there is any liability to the business, you as a person and as an individual are protected from that liability. So, let’s pretend that you are operating as a sole proprietor and you haven’t formed an LLC, but you have this $250,000 liability insurance policy. If you do something in the course of your business that opens you up to liability and somebody sues you, then that insurance policy is hopefully going to cover any of your liability. But, if you do something really bad and you are liable for over $250,000 worth of damages, then you will kind of be screwed since your insurance policy is only going to cover you for up to that amount. In this instance, you will be personally liable for anything on top of that amount. If, on the other hand, you formed an LLC, then it will hopefully be only the assets of the business that are at risk for that liability your personal assets will most likely be protected. So unfortunately, I can’t give a definite answer to this question since it depends on multiple factors and on your own tolerance for risk. If the likelihood of you being involved in any type of lawsuit due to your business industry is low (ie., if it’s just not very common businesses in your industry to be involved in any lawsuits), then it might be worth it to just save the money and get that insurance policy and not deal with the hassle of forming and maintaining an LLC. But, if you really want to cover your a**, then the best thing to do is to form that LLC and get that insurance policy. This way, not only would you be personally protected through the LLC, but your LLC would also have that cushion from the insurance policy. Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/AUIYB The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by 180 Law Co. LLC, with its principal office located at 50 S. Steele Street, Suite 250, Denver, CO 80209. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship 180 Law Co. LLC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. All Up In Yo’ Business® is a registered trademark of 180 Law Co. LLC. ©180 Law Co. LLC. All rights reserved.
Views: 9930 180 Law Co. LLC
LLC vs S Corp: When NOT TO BECOME an S-Corporation
 
05:30
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: 28840 FeedbackWrench
How to Pay Taxes on Your Small Business
 
02:24
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: 82427 Howcast
Difference between a Sole proprietor, LLC and Corporation. Small/medium-sized business start LLC
 
12:15
Watch this video to learn the Difference between a Sole proprietor, LLC and Corporation. As a small or medium-sized business you should start an LLC not a corporation
Views: 344 So Bossey
Should You Include Your Spouse When Forming a Small Business LLC?
 
01:36
In this video I talk about a couple of reasons why you may not want to have your spouse included in your LLC. But every situation is different so it's important to get the advice of an accountant and business lawyer.
Views: 3811 RushonBusiness
Starting Limited Liability Company Or Llc Vs Inc In 2018 2019 May Not Get Small Business Loans
 
02:08
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 Limited Liability Company Or Llc Vs Inc In 2018-2019 May Not Get Small Business Loans A limited liability company (LLC) is the United States of America-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.[1][2] An LLC is not a corporation in and of itself; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs are well-known for the flexibility that they provide to business owners; depending on the situation, an LLC may elect to use corporate tax rules instead of being treated as a partnership,[3] and, under certain circumstances, LLCs may be organized as not-for-profit.[4] In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC).[5] https://en.wikipedia.org/wiki/Limited_liability_company Income tax For U.S. federal income tax purposes, an LLC is treated by default as a pass-through entity.[21] If there is only one member in the company, the LLC is treated as a "disregarded entity" for tax purposes (unless another tax status is elected), and an individual owner would report the LLC's income or loss on Schedule C of his or her individual tax return. Advantages Choice of tax regime. An LLC can elect to be taxed as a sole proprietor, partnership, S corporation or C corporation (as long as they would otherwise qualify for such tax treatment), providing for a great deal of flexibility. A limited liability company with multiple members that elects to be taxed as partnership may specially allocate the members' distributive share of income, gain, loss, deduction, or credit via the company operating agreement on a basis other than the ownership percentage of each member so long as the rules contained in Treasury Regulation (26 CFR) 1.704-1 are met. S corporations may not specially allocate profits, losses and other tax items under US tax law. The owners of the LLC, called members, are protected from some or all liability for acts and debts of the LLC, depending on state shield laws. Disadvantages Although there is no statutory requirement for an operating agreement in most jurisdictions, members of a multiple member LLC who operate without one may encounter problems. Unlike state laws regarding stock corporations, which are very well developed and provide for a variety of governance and protective provisions for the corporation and its shareholders, most states do not dictate detailed governance and protective provisions for the members of a limited liability company. Thus, in the absence of such statutory provisions, the members of an LLC must establish governance and protective provisions pursuant to an operating agreement or similar governing document. llc - LLC Operating Agreement PDF Sample Here's the rundown on how to form an LLC, or limited liability company Create your free LLC Operating Agreement with our user-friendly questionnaire, and establish the rights and responsibilities of each LLC member Category can a single member llc pay themselves, Watch videos Distroller Toys, Baby car for Kids Find out how to start an LLC in this step-by-step guide Search results for how much will is cost to form llc videos Can a single member llc hire employees, Latest video clip and the most singing video clip Find out how to start an LLC in Colorado https://youtu.be/fWkbJs3XLrs how do i pay myself in a single-member llc? - all up in yo' business fat cat secrets how llc's make you bank- stuff your lawyer will never tell you what is a limited liability company or llc? - llc.com llc x nicki minaj | is she dissing safaree? | reaction how much does it cost to setup an llc? top 10 things every llc needs - all up in yo' business thinking about forming a single member llc? watch this first! how to start a business fast why you need an llc avoiding the risks of a single-member llc (again) - all up in yo' business tax difference between llc and s-corp - llc vs. s corporation explanation (freelance tax & 1099 tax) https://www.irs.gov/businesses/small-businesses-self-employed/limited-liability-company-llc
Views: 440 HOUSTON MCMILLER
Should Your Small Business Be An LLC or Corporation?
 
01:02
You may be wondering whether to form an LLC or a corporation for your small business. An LLC is less formal and easier to manage as a small business.
LLC Tax Filing Rules -- Small Business Tax Tip
 
01:15
http://www.nchinc.com/ Immediately after you create a Limited Liability Company, or LLC, the IRS automatically treats your business as a partnership, but only for income tax purposes. LLCs that are subject to the partnership tax rules are not responsible for actually paying the tax on business earnings, but are responsible for preparing annual partnership tax returns on IRS Form 1065. However, if you are the sole owner of the LLC, then you must pay tax on business profits as if you were a sole proprietor. If you prefer the tax filing rules of a corporation, then you have the option to elect corporate tax treatment by filing IRS Form 8832 or Form 2553 to be taxed as an S Corporation. As a result, the business is solely responsible for reporting all income and deductions on Form 1120 or 1120S each year and paying the appropriate income tax by the deadline. Keep in mind, once you make this election, you cannot change the LLC designation again for five years. For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Small Business Tax Deductions + How to Save Money on Taxes
 
05:37
http://www.homebusinesscenter.com/tax.html If you own a company, you must complete annual tax returns. If you run a home business and do not have any employees besides yourself, taxes immediately became much easier. Even though your job just became easier, there is basic but important tax information you should know before you get started, plus tips on how to make the job simpler. Home Business Tax Deductions When launching a start-up, many business owners wonder what costs they can and can not deduct. A simple rule to follow is that deductions have to be both ordinary expenses and necessary expenses to the business. There are a variety of places where entrepreneurs can deduct costs. For instance:A few areas are supplies, advertising, travel and entertainment, insurance, repairs, rental fees, worker pay, etc. Also deductible is the business use of your home and car. The IRS website has additional information on write offs. If you maintain documented receipts and excellent records of expenditures regularly, tax returns will be easier to complete. Use a business credit card for business expenses. Do not mingle personal and business accounts. For people who don't use an accountant, you may want to take advantage of a simple accounting software program like Quick Books Pro or Quick Books Simple Start. These programs organize both income and expenses so that preparing income tax returns does not become overwhelming. Tax Return Documents The income tax forms needed for a particular business will vary, depending on the way the company is organized (a sole proprietorship, corporation, s corporation, LLC or partnership). You can access the required forms from the IRS site, with directions for filling them out. According to the IRS website, those who run a sole proprietorship or LLC complete a 1040 individual income tax return form with a Schedule C Attachment, profit or loss from business. Corporate entities use form 1120 while S corporations use form 1120-S. Companies that are partnerships use form 1065. Tax Preparation Software A tax professional can be paid to fill out business returns, or you can do them yourself. Just like individual tax software, there is do-it-yourself tax preparation software for small businesses. You can even find home and business software packages which include both programs for preparing personal returns and corporation business returns. Buying a multi-software package most times is marked down and can be a great deal for small internet businesses on a budget. Recognized companies such as H&R Block and Intuit offer home and business software together that you can buy for under $100. For people who do not like to download and install software, Tax Act offers a web-based program that is accessible online and you don't have to hassle with any software. Tax returns filled out by a tax professional can set you back $500 or more, so there is a big cost savings to doing the work yourself. However, tax pros typically have knowledge of little-known deductions that non-professionals miss out on, and professionals can of course save you the work completing returns.
Views: 26073 HomeBusinessCenterTV
How to Start Your Own LLC or Corporation (It's Easier Than You Think!)
 
10:04
http://retipster.com/mycorporation http://retipster.com/how-to-start-your-corporation-or-llc/ As most real estate investors know, there are a lot of “little challenges” to overcome when starting a new business. If you’re serious about taking the right steps in the beginning, one of the first things you’ll want to get squared away is the legal formation of your business entity. Most real estate investors (myself included) own their properties under the name of an LLC (aka – Limited Liability Company) and there are a few reasons why: - An LLC can protect your personal assets from business-related lawsuits. - An LLC has tax advantages that allow for “pass-through taxation” (whereas most other corporations are double-taxed). - An LLC offers instant credibility with many of your customers. Now let me be clear... I'm not trying to advise you on what type of legal entity you should form for your business. I'm not an attorney or an accountant (and even if I was - I have no idea what your goals and business objectives are). I'm not saying that you should copy what I'm doing in the instructions above, I'm just showing you one of the many ways it can be done. Forming your own corporation may sound like a complicated legal process, but it's actually quite simple and you can do it in a matter of minutes. With an online service like MyCorporation (see above), you can avoid the mind-numbing minutiae of trying to figure out the process in your state AND save yourself hundreds of dollars by allowing them to walk you through the process. An alternative option is to hire an attorney, since they can give you the best advice and make sure everything is being fine-tuned to fit your situation, but if you're on a shoestring budget (like I was in the beginning), a service like MyCorporation is probably your next best option. Here's a quick overview on how to do it... #realestate #retipster #sethwilliams #realestateinvesting #landinvesting
Views: 110344 REtipster
Business Taxes 2018-2019 -How To Avoid Paying Small Business Tax Without Using An LLC Or S-Corp
 
06:04
Business Taxes 2018-2019 -How To Reduce Or Avoid Paying Small Business Tax Without Using An Llc Or S-Corp 👉 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 A corporate tax, also called corporation tax or company tax, is a direct tax imposed by a jurisdiction on the income or capital of corporations or analogous legal entities. Many countries impose such taxes at the national level, and a similar tax may be imposed at state or local levels. The taxes may also be referred to as income tax or capital tax. Partnerships are generally not taxed at the entity level. business tax - small business tax advice and tax deductions. What you need to know about Schedule C and other small business taxes and tax forms LLM International Business Tax Law 2018 With the Income Tax Act 2015 introduced in the beginning of the year, new business tax laws are now in place 2018 business tax changes is a big win for small businesses National Association of Enrolled Agents (NAEA) offers the following small business tax tips to coincide with national Small Business Week The Ultimate Small Business Tax Preparation Checklist pay additional state and local taxes that are applicable to your business. business taxes 2018-2019-2018 tax changes for small business ways to reduce business taxes under trump's tax plan vmb small business tax advice and tax deductions avoid paying taxes legally!!! the power of a home-based business 2018 tax changes for small business sky news - live how to pay taxes on your small business how trump's tax plan will affect small business owners (attention all entrepreneurs!) understanding tax returns for small business owners how do i budget a small business? plus self employed taxes 101 2018 tax update for the self employed | a brief digestible summary of the new tax laws how do small businesses pay taxes? google Filing and Paying Your Business Taxes | Internal Revenue Service What is the business tax rate? How much does an LLC pay in taxes? What are the types of business taxes? How much can a small business make before paying taxes? Business Taxes | Internal Revenue Service - IRS.gov Apr 12, 2018 - Refer to Business Structures 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. Aug 2, 2018 - An Employer Identification Number (EIN), also known as a federal tax identification number, is used to identify tax reports to the IRS. Business Taxes. The form of business you operate determines what taxes you must pay and how you pay them. Estimated Taxes. Federal income tax is a pay-as-you-go tax. Excise Tax. The federal government taxes businesses that manufacture or sell certain products. You may also have to pay this tax in other situations, including if your business uses various types of equipment, facilities, or other products. ‎Business Taxes · ‎Energy Tax Incentives · ‎Tax Relief in Disaster ... Types of Business Taxes - The Hartford There are four basic categories of taxes that might affect business owners. Here is a list of business taxes, how they are determined, and a game plan to help ... About the Business Tax | Los Angeles Office of Finance The City of Los Angeles Business Tax is a privilege tax imposed for revenue purposes only to support the essential services the City provides. No attempt is ... Business Taxation | Tax Return | Hesperia, CA - Best Tax Service What You Need To Know About Measure 26-201: A Business Tax For A Clean Energy Fund In Portland Walmart letter warns tariffs will raise prices and tax American businesses 760-947-6729 - Get complete help in tax preparation from Best Tax Service. Find tax filing services for individuals and businesses. Small Business Taxes: The Virtual Workshop - IRS Video Portal What you need to know about Schedule C and other small business taxes and tax forms. Lesson 3. How to file and pay your taxes electronically. Lesson 4. Business Taxes | Treasurer & Tax Collector The Office of the Treasurer & Tax Collector collects business taxes and fees for various licenses and permits that are required by the San Francisco Business ... google vidz How to Pay Taxes on Your Small Business - YouTube The reason small-business owners love Trump's tax plan - CNBC.com Here's why Trump's tax plan will hit Californians especially hard - Los How the 2018 Trump Tax Reform Affects Your Small Business Trump 'small business' tax cut is not what it appears to be Individual & Business Tax Preparations — Exact Tax How Do Small Business Tax Deductions Work Business Registration | Treasurer & Tax Collector California Department of Tax and Fee Administration https://en.wikipedia.org/wiki/Corporate_tax https://youtu.be/Gj5pSVpKV4M https://www.wsj.com/articles/the-corporate-tax-cut-is-paying-for-itself-1537310846
Views: 484 HOUSTON MCMILLER
LLC Federal Tax ID Number (EIN)
 
08:46
*IMPORTANT: Make sure your LLC is approved BEFORE applying for an EIN. If you do the EIN first, you’ll be attaching the EIN to yourself personally (as a Sole Proprietorship)... and therefore, your personal assets will not be protected. IRS Online EIN Application: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online Our website: https://www.llcuniversity.com [=================================] -- WHAT IS AN EIN (FEDERAL TAX ID NUMBER)? -- A Federal Tax ID Number is issued by the IRS to business entities. It is also known as an EIN, or Employer Identification Number. For simplicity, we will refer to it as the EIN. An EIN is to a business what a Social Security Number is to an individual. It basically identifies your LLC to the IRS. Even though it is called an Employer Identification Number, it does not mean that you have to have employees. [=================================] -- WHAT IS ARE EINs USED FOR? -- EINs are used for: – Opening business checking, savings, or investment accounts. – Filing taxes. – Handling employee payroll (if applicable). – Obtaining business lines of credit or business loans. – Obtaining credit cards in the name of the LLC. – Applying for business licenses. [=================================] -- WHAT DOES AN EIN LOOK LIKE? -- An EIN is similar to a Social Security Number in that it has 9 digits. To differentiate an EIN from an SSN, there are 2 digits followed by a hyphen and then 7 more digits. An EIN will look like this: 68 – 3302189 [=================================] -- HOW MUCH DOES AN EIN COST? -- An EIN is free. You can obtain an EIN from the IRS: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online (unfortunately, many websites charge $50 – $100) [=================================] -- ALREADY HAVE AN EIN? -- If you already have an EIN (before forming your LLC), it’s most likely attached to a Sole Proprietorship. This is quite a common mistake. You’ll need to close out that EIN and get a different one for your LLC (after your LLC is approved). Here’s how to close out an EIN: https://www.llcuniversity.com/cancel-ein/ [=================================] -- QUESTIONS DURING APPLICATION -- If you have any questions or if there are any errors messages that appear during your EIN online application, please contact the IRS at 800-829-4933. You can find additional IRS phone numbers at this link: https://www.irs.gov/uac/telephone-assistance [=================================] -- FOREIGN NATIONALS & ITIN -- If you are a foreign national and you need to apply for your ITIN please see the following information on the IRS’s website: https://www.irs.gov/Individuals/Individual-Taxpayer-Identification-Number-ITIN [=================================] -- OPENING A BUSINESS BANK ACCOUNT -- You will need your EIN and your approved LLC documents (Articles of Organization, Certificate of Organization, Certificate of Formation, etc) to open a business checking account. [=================================] -- DISCLAIMER -- This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state. LLC University® is a registered trademark of LLCU Media Group, LLC. © LLCU Media Group, LLC. All rights reserved. https://www.llcuniversity.com [=================================]
Views: 108743 LLC University
Sole Proprietorship vs LLC
 
05:20
The sole proprietorship vs. LLC discussion often centers on business liabilities but your personal liabilities are just as important in the discussion.
Views: 54921 LegaLees
What is an LLC? - Form an LLC (1/11)
 
03:58
▶▶ Learn more about LLCs: http://llcuniversity.com ◀◀ In this video, we explain: - What is an LLC - Why form an LLC? - Protecting your personal assets - Speaking the LLC language - LLCs vs Corporations [=================================] -- WHAT IS AN LLC? -- LLC stands for Limited Liability Company. An LLC is a legal entity that protects your personal assets if your business is sued. An LLC is a Limited Liability Company. It is a legal entity (business structure) that is created by state law. An LLC can be used to run a business, or it can be used to hold assets (such as real estate, vehicles, boats, or aircraft). LLC Owners Are Called "Members" The owners of an LLC are called "members". An LLC can be owned by one person (called a Single-Member LLC). Or an LLC can be owned by two or more people (called a Multi-Member LLC). The LLC is created by filing LLC Formation Documents with your State and paying the filing fee. [=================================] -- WHY FORM AN LLC? -- The #1 reason to form an LLC is for personal asset protection. By forming an LLC you create a “protective wall” between your business and your personal assets. Your personal assets include everything that you own: your home, cars, trucks, bank accounts, investment properties, boats, jewelry, etc. -- AN ATTACK ON YOUR ASSETS -- If your LLC is sued, creditors can only attack the assets of your LLC to settle those business debts and liabilities. Your personal assets are safe and secure. They are not considered a part of the business. Again, without forming an LLC, your personal assets are at risk if your business is sued. [=================================] -- SPEAKING THE LLC LANGUAGE -- There are two common mistakes people make when talking about LLCs. "I want to form a Limited Liability Corporation." You cannot form a Limited Liability Corporation. There is no such thing. An LLC is a Limited Liability Company. Or “I’m going to LLC myself.” Again, this is incorrect. You cannot do that. You can't "LLC yourself". But, you can form an LLC for your business. An LLC is "separate and apart" from you. It is not you. You form the LLC. Then you own and manage that LLC. It's important that you understand the difference in these terms so you don't sound like an idiot and can speak intelligently about your business. [=================================] -- LLC vs CORPORATIONS - THE BASICS -- A lot of people ask us if they should form an LLC or form a Corporation. Let's discuss the major differences. LLCs don't have to elect a board of directors; Corporations do. LLCs don't need to hold board meetings; Corporations do. LLCs don't have to keep records of all their meetings; Corporations do. LLCs are not subject to double taxation; Corporations are. LLCs can distribute profits however they want; Corporations can't. In short, LLCs are the most popular and the most flexible business structure for business owners, entrepreneurs and real estate investors. LLCs are also inexpensive to setup. You'll pay a one-time filing fee to... [=================================] For the full article, please visit: http://llcuniversity.com [=================================]
Views: 46980 LLC University
Tax Implications of a LLC -- Small Business Tax Tip
 
01:09
http://www.nchinc.com/ A Limited Liability Company or LLC, is a hybrid type of legal structure that provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership. The profits and losses pass directly through to shareholders, thus avoiding the potential double taxation of a corporation. LLC members report profits and losses on their personal federal tax returns, just like the owners of a partnership would. The main benefit is that an LLC also protects the owner and partners from liability for the business's debts and actions. Note that an LLC is not a tax entity itself; rather, it allows the owner to choose which tax entity is preferred. From a practical standpoint, however, there are limited situations where an LLC would choose to be taxed as a corporation. For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.

Circuit specialists csi 825a troubleshooting
Chloramphenicol eye drops 0 5 5ml is equal to how many teaspoons
Atarax 10mg hydroxyzine hydrochloride wikipedia
Ozpan 40mg prozac
End stage prostate cancer hormone therapy