So very grateful you decided to start your channel; just starting my journey into e-commerce and my new goal is to make more then enough money to be one of your clients. 🙌 Please keep up the content!
NOPE!! As the owner of the business you can also withdraw cash from the business as an "owner draw". You will avoid self employment taxes with "owner draws". In other words, the other $70K technically can be pulled from the business as well.
Bro how does this apply to foreign LLC owner with a plan to scale up with a local fulfillment provider eg. Shipbob down the future? And, does the "do it yourself" accounting course is relevant to Non-Americans?
S-Corp is not an option for foreign (non American) entrepreneurs. There are other tax planning strategies available to you and they ARE offered in our course
Great stuff Chris, Thank you. Saw your videos on Scott and Sebastian's channels and hope you continue your own channel. Definitely will pay off for those who are serious about e-com.
Today's Topic - 0:45
Where specifically you are Saving Money by Structuring as S-Corp - 4:20
S-Corp and Salary - 7:56
Final Thoughts - 9:47
This was very insightful. Thank you
Very very helpful, no one else is talking about this stuff
Thank you for the video!!! We learn a lot from you! Thank you!
Love to hear it! That's what we are here for
Thanks man, love the value!
This was great !! Thank you.
Your content is gold. This helps so much.
Appreciate you boss!
Great content! Thanks for the info!
You look grEat man. Thanks for great information.
All makes sense, thank you. Is there a timeline when a business can apply to be treated as an S-Corp?
technically speaking yes. HOWEVER you can apply with a late application - we've yet to see the IRS reject a late election
@@ecomaccountants appreciate your response Chris!
So very grateful you decided to start your channel; just starting my journey into e-commerce and my new goal is to make more then enough money to be one of your clients. 🙌 Please keep up the content!
also, if you pay yourself a "reasonable" salary of say $30,000, does it mean that you can't use the other $70k for any purpose but business?
NOPE!! As the owner of the business you can also withdraw cash from the business as an "owner draw". You will avoid self employment taxes with "owner draws". In other words, the other $70K technically can be pulled from the business as well.
@@ecomaccountants cool, thanks for getting back. and for an LLC taxed as an S-Corp an owner's draw is called a distribution, correct?
Bro how does this apply to foreign LLC owner with a plan to scale up with a local fulfillment provider eg. Shipbob down the future?
And, does the "do it yourself" accounting course is relevant to Non-Americans?
S-Corp is not an option for foreign (non American) entrepreneurs. There are other tax planning strategies available to you and they ARE offered in our course
Great stuff Chris, Thank you. Saw your videos on Scott and Sebastian's channels and hope you continue your own channel. Definitely will pay off for those who are serious about e-com.