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this video is next lvl

Thanks for the info. Would such income be taxed at the same rate or a different rate if I have a mixed income from a W2 and my LLC?

Wouldn't paying yourself be regarded as a contract labor expense (Schedule C, Line 11)?

Where state it is?

Wow, just write yourself a check...thanks for clarifying how easy it is to pay yourself from a sole proprietor LLC!

Why not an S-corp?

Better yet is to file as S-corp and lower paycheck and take rest as profit distribution. Any reason you didn't include that option to save like 8%?

Good video but unless I missed it, there is the Self Employment piece of the tax return that wasn't addressed. Thanks

short term capital gains are tax as ordinary income..

What about self employed taxes 15.3% which we have to pay? Did you miss that part. Am sorry am new to this llc business

My people been flooring it with da pedal to the metal

What’s the better way to find them?

So is this tax structure an S Corp?

Chad, in a series LLC, we are accounting all expenses per series. 1 bank account in the name of the main LLC. How could we pass/classify the expenses such as office/payroll/supply paid by the main LLc to each serie. Do we invoice and each series pays back that portion? Thanks,

Chad, could you make a video for people with a single Member LLC living outside the US? For lots of us that would be awesome! Thanks!

this is what we call in the industry “spreading”

Interesting!

Simplest explanation that I was able to follow

Amazingly easy to follow. Thank you for the information!

how to payyourself as a Non-US person

Good luck being a being a millionaire when you're 60 years old.

What platforms will let you open business trading

Can you do direct deposit?

Such food stuff

Great video

Thank you for this video , quick question , over all on tax and Medicaid , be married or be single ? Which is better ? Thanks

Do you offer this spreadsheet?

It's Q3 2024, and I'm doing research prior to starting my first business. I have no clue how much I can expect to make through the rest of the year. I am hoping to be able to take home 1k/month. I have a full-time job on W2. How would I estimate my taxes for paying ahead? I'm guessing I would need a few months of data to be able to make a projection. What would you recommend?

Would it be tax-effective to trade as an LLC?

Thanks Chad, LLC newby here, your video was clear and easy to understand.

might as well compare trading stocks to selling shoes as a transgender

Why does the seller have to put in 200k towards the deal?

Great video’ thanks!

Teach more on building statements and everything accounting and finance

Dude I incorporated this year cause I figured rrsps are a scam. I’m in Canada. 401k would be the American equivalent to rrsp. Rrsp is a scam cause you get regular tax on your investment. At least with a Corp I can retain more volume of cash because I get taxed lower in the Corp, and I can invest that money and only be charged capital gains on it in future , whereas with rrsp you have to withdraw that money very slowly to not trigger higher tax and it’s all taxed as ordinary income. So all that risk you took in the stock market is considered ordinary income lol fuck that government just robs everyone blind . We take all the risk they get the upside no matter what. We live in a clown world

bro woke up and was like how can I make a video with minimum research and thinking in general

Why would my day job have to be part of that and get taxed again?!

Very helpful. Thank you.

My three favorite channels: Charlie Chang, Stock Brotha, & How Money Works. Make my week complete!

I'm interested

I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket.

This is wrong. Short term capital tax is taxed the same as earned income, not 15%

Our founding fathers would have been stacking bodies already with these taxes

Well explained and easy to understand. Super helpful! Thank you!

You don't pay taxes on the LLC but rather on the 1040 as calculated on 1040 schedule "C" ok i think i get it. Thanks!

What if you’re designated taxed as an s corp? Do you then have to at yourself w2?

Background music way too loud.

I did a Doordash in the US in 2019 and then I returned to my country. I didn't pay any taxes. How can I find out if I owe taxes? Thanks

Hey Chad, I enjoyed your informative video. I recently bought a house and then in 2023 renovated and rented out a different house that I had lived in and owned for 38 years. Since I have owned the rental house longer than the 27.5 year standard term of depreciation, on what basis can I claim a rate of depreciation? The renovation in 2023 consisted of repairs-drywall, paint, carpet, some light fixtures, appliances, bath/kitchen fixtures, flooring, deck resurfacing, cleaning and powerwashing. The roof was replaced due to weather damage in 2021 mostly with insurance funds. The house was also significantly renovated in 1995 largely with insurance funds due to a fire from a toaster oven causing extensive fire, smoke and water damage. Due to refinancing I still owe money on a mortgage for about a third of the current market value of the house.

the government really tax the shit out of us…didn’t realize how complex or convoluted tax is while on W2 until I go with LLC