How To Pay Yourself As An LLC
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Enrolled Agent Karlton Dennis has seen everything in the game, using his knowledge to take advantage of his tax-return every year to write-off some quite luxurious items. The thing is, ANYBODY can do this! How? Find out on today's Taxes Made Simple!
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Check out these links Below!
Get Help Setting up Your LLC: betterlegal.com/?aff=07bef8e7
Learn How to Self Direct Your IRA or 401k: directedira.com/karltondennis/
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
#taxes #taxfreeliving #taxexpert #taxreduction #llc
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I tried to talk to a SCORE mentor that has created and sold 4 companies, and I asked him about switching to an S-Corp and he said there was no reason to, because if you get sued they will still just come after you not your company...and that's all he said. He didn't bother explaining any of this. You made it so clear when and how and why. Thank you. The lucky few who make it to your channel, who, like me, don't have a mentor or parent to teach them any of this; we are grateful that you put in the effort to make this and help the rest of us do better for ourselves. You are doing great work and helping change the lives of people you may never know. THANK YOU
😊😊thanks for saying everything I was thinking 💭.!!
That. All of that. ❤
Talk to a former business owner (SCORE mentor) and they tell you 1 thing. Talk to an accountant and they tell you another. It's up to you, as a business owner, to utilize your resources for their strengths, and ask the right questions to the right people. Next time have a game plan for the meeting and do some research before hand. You'll talk much more intelligently and be much more productive. It's your business and all the responsibility is yours. Good luck, Simon!
Out the SCorp into a trust
Did we not forget the name 30k at 7.65% to your scorp $28k tax
I remember having a consultation with a financial analyst last August, and it was incredibly insightful. Can’t stress enough how helpful experts in this field are!
My colleagues had a good laugh at me when I told them I started my journey with $5k capital and how I accumulated over 5 figures within a span of 7 months. They never believed me until I pulled out my P&L.
As long as you diversify your portfolio, any single stock or investment that you own shouldn’t have too much of an impact on your overall return. If it does, diversifying might be the right choice for you, as one can also try out other commodities. I now have a balanced portfolio that is yielding me profit thanks to guidance from Jonas W. Herman.
That’s awesome! I’ve been contemplating hiring one since I can’t get a hang of investing even after buying courses. I’d like a discussion with him. Any means to reach him?
Hermanw Jonas (a Gma!L comm
Is he taking commissions for his services? Yes, I’m I still making money in the process. Most definitely!
Thanks for the advice, both of you. It’s reassuring to hear positive experiences.
I feel more confident about moving forward with Herman now. I just shot him anemail. Thanks for sharing your
With landscapes shifting, new regulations have been passed that have impacted my investing plan negatively but with Jonas coming into the picture, I have been able to rebalance my portfolio in such a way that I'm making great ROI. It's awesome how a “little” shift can make a huge difference!
IF THIS HAD BEEN TAUGHT IN MIDDLE OR HIGH SCHOOL I CAN'T IMAGINE WHERE WE WOULD BE RIGHT NOW !
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This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
Keep buying cash bro
Just a tip. Set-up a SMLLC Subsidiary underneath a SMLLC Parent. Leave the Sub as a natural LLC, and elect to treat the parent as an S Corp. This will help you down the road if the business ever grows enough to take on Private Equity or other co-investment, or even sell outright...nobody wants to co-invest in or buy your S Corp, trust me. Keep all licenses, contracts, assets, employees, and other aspects of your business at the Sub level.
🤔🤔🤔Very interesting perspective (that I've never heard before) indeed‼️🤔😲🦋When you structured it, who did you use to do your paperwork? A lawyer? A template from a registered agent? I shut down a newly formed business back in May simply bcus I didn't know how to fill in the template information for my SMLLC putting my million dollar dream on indefinite hold😫Its not as simple and easy to do as it is made to seem. It's very overwhelming, expensive & intimidating when you don't know what you're doing!
Good Points!
Yes!!! Thank you thank you thank you for explaining that!!! Oooh thank you!! I understand perfectly now!! Yippee!!!
As I am setting up a new S'Corp, I have seen a lot of videos to make sure I am accounting for taxes for payroll and distribution correctly. This by far was the most easy to understand and through video.
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Took a year for me to build my score from mid 400s to 600 where I’m stuck now. I have 2 credit cards, a self account, auto loan. Everything paid on time and utilization 5-10% paid off every month. Thinking of applying for a new credit card or something cause my score isn’t increasing Great recommendation, this helped me alot. *850 credit restoration* was one of the best things I had come across as far as boosting your score. I don't remember the actual number of how much but it was somewhere cool!!
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Why do I see this same post word for word under different names on TH-cam comments? ( Josue Perez)?
Excellent info, very concise and easy to understand, and this clarifies a subject that many other videos miss the mark on in their well-intended attempts to educate. I will definitely be watching more of your content. Thank you so much.
By far one of the easiest videos to follow. You took away the mystery of LLC vs. S-Corp and broke it down solid!
Geeesh! You are such a wonderful communicator! I wish learned this information years ago. Thank you for sharing your (quite literally, invaluable) knowledge with those of us who want to learn what you're willing to teach. Bravo!
I just opened my OKC but haven’t started the work yet. I am so glad I came Across your video! I’ve been self employed for a couple of years and it’s a pain! I’m glad I found this before I messed it up! Thanks!
Omg....thank you so much. Seeing my accountant in a few days and needed a clear understanding. Thank you for breaking this down in a very understandable way. Much appreciated 🙏🏻
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I stumbled across your video and instantly knew this was made for me. I'm going through the same thing with my business but just knowing that I'm not the only one who's experienced this just pushes me to go harder. Continue to put out informational content and sharing your story, THAT is what separates you from the rest. Much gratitude Marvin and *850 Credit Restoration* was so helpful during the process of boosting my credit
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This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
There's an error here. When you have an S corp, you still have to pay 15.3% payroll tax/SE tax. It's just that as an individual, you pay 7.65% FICA, SS & MC but then the S corp has to pay an additional 7.65% in payroll taxes. Add 7.65% + and 7.65% and you get . . . 15.3%.
Plus, as an S corp, you will need to pay unemployment and workers comp insurance as well. And you can't deduct one half of your SE tax.
The main advantage to the S corp is that you'll only pay the 15.3% on your wages instead of the entire business income.
Also, if you are an Uber or Lyft driver, you do not receive a wage. You receive business revenue which will be used to calculate your business profit or loss on schedule C.
Really ? Buts it's still.worth the change right
@@camillramirez it is worth it if you are making enough "extra" money beyond what a reasonable salary would be. With s-corp you need to officially pay yourself a "reasonable salary" and that is what you pay employment tax on. The IRS is kind of hyper aware when you are s-corp status so that you can't get away with paying yourself a $10,000 salary when it should be a $60,000 salary. But if you CAN pay yourself a reasonable salary and your business is pulling in like... at least $10k on top of your salary, then you're likely in a position to benefit from the tax savings you'd get with an s-corp. If not... stick with an LLC.
The tax savings on a S Corp applies only to social security/medicare taxes that are NOT paid on s corp bottom line net income which passes through to. the shareholder's personal tax returns.
@@crarls27great info
Thanks, for pointing out errors. Great info
That was very thorough, encouraging and well thought out. Thank you for putting this together and I look forward to what I will watch next.
I am just finding you and I can't tell you how grateful I AM! You went over and beyond the explanation and that is deeply appreciated! I have no idea if you are even gonna see this message, as it has been 2 years since you posted this! Wow! I subscribed and thumbs up on ALL your content. Thank you Karlton Dennis!
I just started my LLC last year and this is my new favorite TH-cam channel! Perfect timing thanks man! 🙏🏼
I instantly subscribed because you are informing business owners with quality content. Thank you.
Please make more content like this, you are a great teacher, its easy to follow, understand and learning the information because of the simple way you break the information down. I will you also teach about nonfprofit, the steps of how to start one and the tax side of it as well.
I remain amazed and grateful that information this valuable is available for free. Thank you, Mr. Dennis!
Thank you so much for your inspiration! I have traveled a similar path, 2 college degrees, multiple jobs including credit problems. I am now 65 years old and have found my purpose in life. Currently in the process of starting my own business. May God continue to bless you and May He continue to bless *850 credit restoration* for me for every successful deal we conducted
VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but *850 CREDIT RESTORATION* info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
This is more pertinent credit information then I have ever heard presented. I have done extensive research on this subject matter! I can't thank and express enough gratitude for both you two fine people. Extremly valuable and voluntary credit knowledge provided anywhere on social media. You have put a lot of so called credit guru's to shame! I am shocked never before, everyone is always trying to get a buck off the ones in this world that struggle the hardest. Thank you so so so much discreet phase resolution!! I only wish I had been on the live chat to have had the opportunity to win some cash!
@@neomatrix4136 how many times you gonna post this boss
Finally someone who breaks it down quick and simple. Ty for the info. This is awesome. Great job!
I'm a SCORE mentor and I learned so much from this. I often get asked about the benefits of an S-Corp vs. a LLC. This really laid the figures out well. Thank you.
What kind of mentor are you ? I been looking for a mentor for real estate and music business
And you are a SCORE mentor? LOL
@@pchauhan4059 🤣😅😂
I’m in the process as we speak of starting my LLC, I love how you broke this all the way down. I appreciate you my guy and I will be subscribing to your TH-cam channel. I will be following you because you have a wealth of knowledge!!!
How did it go
This video is great! Everything is broken down simply & clearly. I recently formed a S-corp and have been floundering as to how to pay myself. Thank you!
I am a deck builder contractor in Connecticut. I dont have any employees. My question is. Can I hire sub contractor if a switch to S corp?. Thank you
@@javierpacheco9275 you can hire contractors even if you don’t make S corp election. It would be your business expense in both scenarios
Make sure you’re making a minimum of 40-60k PROFIT before switching to an s corp. You don’t want to pay 10k to save 5k
Bro you’re a life saver just started my trucking business 4 days ago and I run into this video….. now I gotta make some changes thanks a ton!!!!!
Thanks so much, I love the way you break it down and make it easy to understand. Looking forward to making enough money to change my LLC to SCorp!
Thank you for doing this video and I love your simplicity. I’m starting my own business and this has helped me tremendously.
You just gained a permanent supporter.. The way you explain things in detail.. GOLD bro
I just started my business two months ago and started wondering about how the distributions and employment worked. so glad I found these videos, really learned a lot, thanks so much for the advice, will be s corping next year!
Love the ease of the presentation. Thank you. I am a Texas Resident, so it gives me some great info moving forward. A good place to start if nothing else, thanks again.
Brother, thanks for the info… I’m teaching myself as I go; trying to run an LLC and understanding when to convert to S-Corp.. Really appreciate the good info you put out..
Man, you just blew my mind! Just started my Llc and I didn’t think about it like that. I need a class!
This made so much sense now and I definitely know nobody in the TH-cam platform has explained it this well. Thanks for doing this! Just came across your first video here on my home page for suggested watch and now you gained a follower, subscribed.
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So grateful. I'm starting a business and I really don't want to make tax mistakes. This is such great content, easy to understand. Thank you for making this video.
This is really really helpful as I start my own business for the first time. I'm grateful to know this in advance. I may have made some REALLY big financial mistakes otherwise.
God bless you brother. Im a realtor and Ive been trying to figure this out. Presented very well.
Amazing explanation and very genuine and straight forward lectures that they don’t teach us. Very much appreciated thank you brother.
Thanks for such excellent and much needed info,you've done a great job breaking it to bite sizes. I'm about to set up my SMLLC and then switch it to SCORP. Yes! Thanks Karlton! God Bless You Sir! ❤❤❤❤❤❤
I'm really trying to level up my business this year, and your channel is great for consuming info.
Wow, you really made it clear to me the difference between LLC and S-Corp. You have saved me. I'm hiring an accountant. Thank you.
My wife owns her own Business, (Salon), and I dread Tax season every year.
This information is incredibly helpful and appreciated. Thank you.
This content is amazing! This is EXACTLY the info i needed! More of this type of conetent please! You got my follow for sure!
You had me at 12:19...The LLC vs S Corp, I've been trying to explain and break dow to a few people. You're 1000% correct about people learning things different ways. Thank you so much for putting this info out there. Very much needed and greatly appreciated.
This was PHENOMENAL!!! This is why I went to lawschool bc I suck at math!! I will most likely switch to an S-Corp in 2023 now things are picking up!
Well organized and very detailed and informative! Keep up the great work with such videos!
You consistently bring your all and I truly appreciate that *The Encrypt Invest* . Thank you for making the corporate life so smooth. Proud to have you work for me. Great work as always.This is the beginning of many more good things to come. May you get everything, that you could demand. Best wishes in all you do and congrat to me as well, job well done!
Thanks for being upfront and transparent about LLC to S Corp.
This is amazing content. Just found your channel today. I will be studying! Continue to be blessed!
Simple math and it works.
I know some buddies are doing this. It's all in understanding the legal tax code.
Thank you Karlton. I am going to subscribe.
Karlton - I just recently switched over to an LLC. After speaking with my trusted CPA he told me to do EXACTLY what you are taking about in this video. Listening to this video was almost verbatim listening to my CPA. I like your content, I followed it well. I've decided to move to a S-Corp. Thank you very much. It's apparent you are good at what you do. I will be watching more of your content.
I started working on my credit 2 years ago. I didn't know where to start I had no credit. I started looking up videos and found *850credit restoration* . I followed what you said and started with an secured credit card for 200.00 and mad sure to keep my utilization under 10% and paid on time every month. I now have 3 unsecured credit cards and a 757 fico score. Thank Danielle for all the information and tips. Now we are in a position to buy home.
I dunno… I was one of those people that didn’t care about a credit score, didn’t get any education about how important your credit score is, and I racked up debt like an idiot. I worked really hard and educated myself and I’ve brought my credit score from 480 to 690 and I’m still going up with *850CREDIT RESTORATION* . I feel like the government blaming credit reporting companies instead of the lack of financial education in their own public education system is foolish.
I drove my first car in my dad's name and later went to get a truck in mine after I paid off my first one and drove off the lot with the truck I wanted, its mostly about a good credit score and a loan portfolio helps as well...lenders like to see various forms of loans in your name to be less of a risk and yes you might have to put money down but not HALF of the car loan Your exactly right I screwed my credit as a young man now I own a detailing company and can't get anything with out the full amount of cash. I'm working on my credit to get better with *850 CREDIT RESTORATION* , Love the knowledge keep it up
Thank you for the time and dedication you give in creating informative and comprehensive videos on tax related business matters. I really need to polish up on my bookkeeping skills 👌
You are very thorough and detailed. Excellent work. Thank you for the information.
Thank you, sir, for this explanation. When I decided to start my own business, I did not consult an accountant or other financial expert in the business field, so I STRUGGLED through the process of becoming just an LLC. Now, based on what I'm understanding in this video, I should consider switching to an S-Corp to help me with taxes. My business is new and is not yet generating a huge net profit, but I will talk to a tax guy here locally and ask about switching to an S-Corp. Again, thanks for enlightening me on the pay consequences of both an LLC and an S-Corp.
Fantastic explanation of what my accountant has been telling me for months. You made it clear as a bell! THX
Thank you for your full focus on the job instead of focusing on proving yourself to others. You always tried harder to be better *The Encrypt Invest* and now your success speaks out louder. Thank you for a hard work. I’m sure it was worth it all. There is no doubt that you are the most deserving of all that should be given a shout out
Oh I'm soo glad to know this here now! Thanks for your educating me on this!
The breakdown here was very smooth and concise. Even when I got lost for a second, he picked me right back up and explained the information to the T. Thanks for this! I’m trying to work these numbers for a business with a smaller revenue in Texas.
Good luck to you, I'm in Texas as well. I hope your business succeeds.
Try focusing more on landing a husband and kids like your counterparts....Kevin Samuel..
@@Rodwill18 Let me work on this business and continue to mind mine... not worry about finding a man, that was never in God’s design. Not sure what message that comment was supposed to convey.
@@Rodwill18 Huh, what is that all about?
What part of Texas. Good luck on your business
Love your content. What I especially love is how clearly you speak since English is not my native language, but you make it very easy to understand. Thank you for your service!!
whole reason i was to come across your content. Looking at something possibly and your explanation was well executed. Will be watching more, thank you!
I love how you break down things I’m going have every young person in my family watching you!
I have been and llc for ten years and NONE of my CPA’s have ever explained it like that. WELL DONE !!! This information is priceless. THANK YOU !!
This!!! Its so much to learn with all of this!!! I'm here for it!
Repent to Jesus Christ
“Dear children, let us not love with words or speech but with actions and in truth.”
1 John 3:18 NIV
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Exactly he’s great at explaining it.
Its really not.
Same here.
This is the first video of yours that I have seen. I don’t even know why I came across my feed I have liked and subscribed to your channel very informational. I plan to binge watch the rest of your videos.
Thank you for this, I would've ended paying more in ignorance, as I intend to start a business someday. I can see why you are so successful; you have deep understanding of tax code and business models.
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Thats true, I've been getting assisted by a coach for almost a year now, I started out with less than $120K and I'm just $19,000 short of half a million in profit.
@Dan Brooks Big Credits to 'Christine Jane Mcleanshe has a web presence, so you can simply search for, there are some others but it might be difficult to get them, but Christine as been a good guide through the year.
Invest and stay in for the long term. Highs and lows come and go but you’ll always be better off than if you just sat on your money.
Starting my own business and your videos are so helpful, thank you!
It's perfect timing to find your channel as I'm starting an LLC.
You describe the S-Corp advantage perfectly!
Thank you
I’m just say I’m about 5:50 though this and you’ve managed to answer my next questions.. simply explained, thorough, with visual description. This was a great video for someone as myself! You must have my subscription now! Cheers my man!
I was so impressed, I subscribed at 1:57
Bro, I gotta tell you that I appreciate the time you take to drop the VALUABLE information freely. Where would we all be if we all helped each other grow like this….
New subscriber here, even though I only understood half of the video, I will watch it over and over again, pause and take notes. I just registered an LLC for my soap and skincare business and as excited as I am, I am also scared and don’t think I know what I am doing half of the time 😬. I will proceed to binge watch your videos because I know I have a lot to learn on this new journey of financial independence! God help me 🙏🏽
I have a bachelors degree in Business & I feel this video actually taught me more valuable information. & you make it easy to understand. Thanks!! Stay blessed!!!
Wow! Such good info! I have an LLC, and had no idea. Thank you so much:)
Excellent video! Thank you for sharing. Keep’em coming, please!
This video was the clearest and most understandable explanation of this topic that I've ever come across. It was truly awesome!
I was able to get a possible judgment dismissed due to the help of credit lord wih the debt collection company saving me over $11,100.
What if u in the highest bracket? And have few Buisness
This is amazing break down of how to structure the S-corp. Thanks for what you do. Can't wait to see more.
Thank you for your comment, I will refer you to the com mercial analyst and market guru to get a good profit in Crypto and other digital assets....
+,,, 1,,, 3,,, 3,,, 1,,, 2,,, 5,,, 9,,, 4,,, 2,,, 5,,, 3...
Write her via wh’sap....
Dang, booyah! Doing my homework as I set a plan to open my own business. Ty. I will be subscribing.
Skills can be imparted, but the will to persist and persevere is inborn… a talent you have been blessed with. Well done *The Encrypt Invest* Many others failed because they had a lot of excuses. You succeeded because you didn’t have any. Your hard work and effort have paid off! A success well deserved, an occasion worth celebrating! Congratulations!
Definitely subscribing. This was such a beautifully explained video. I usually get lost in videos like these but I was able to follow everything you said.
Thank you for your comment, I will refer you to the com mercial analyst and market guru to get a good profit in Crypto and other digital assets......
+,,, 1,,, 3,,, 3,,, 1,,, 2,,, 5,,, 9,,, 4,,, 2,,, 5,,, 3.....
Write her via wh’sap......
Loved your break down vs. hearing from my professor! Ty
Excellent and clear information in a way I had not heard it before. Thank you!
Thanks a lot that was a very informative video. I myself am trying to start an LLC or S Corp in the next couple of months this is the first video of yours that I watched and you taught me a lot I have subscribed to your channel and I'm going to check out the rest of your videos thanks a lot really appreciate it.
Watching this, I feel overwhelmed! There's sooooo much that goes into this opening and running a business and my fear of failing or doing something wrong continues to hold me back.
You got this! The good part of failure is learning from it, the hardest part is starting, after that it becomes fluid
It’s alot..
Just take it one step at a time and don't try to do too many things at once. It takes some time but you'll learn it all. If I can do it, you can too. But no need to grow fast. Baby steps and you'll be fine. Just don't make a move until you understand what you're doing.
When you’re a business owner, you hire people to think and do things for you!!
@@hfortenberrythis comment is contradicting. At first you say take it one step at a time then you say don’t start until you know what you’re doing.
This was the easiest that I’ve understood these concepts after being explained them probably close to ten times
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Ten times read you wrote still don't understand🤷🏻♂️
@@felixandresjc indeed
Completely agree
@kerpal3 😂
Thank you for this truly amazing informational video on this subject. 😊
You've clarified some things I wasn't sure about, and made sense of them.
I had to rewatch the last few minutes to be sure I understood you correctly, but I think I got it now.
My small business is set up as an LLC, and I see now that if I can successfully grow it next year, that implementing your S Corp strategy will be invaluable.
When you said that we can still take distributions throughout the year, BUT we only need to do one payroll payout to ourselves at the end of the year, after we have a better idea on what our net income would be, then it all came together for me. 😊
Thank God you are a great teacher!!! I had to sit down and really jot this down with you but I get it. Now the tricky part is getting paid and managing the whole shabang!
So basically,
Manage me, manage keeping the government off my back, whilst being financially responsible and independent, enjoying life's finer things. ❤
Thanks for help!! Off I go to try it out.
Just what I needed to see. Perfect break down of it for me man. I’ve been trying to understand why the S Corp is better, but now I get it.
Thank you Karlton! Just what I needed to try to understand and position myself better financially for setting up a Real Estate LLC! I still have a lot of reading and studying to do before I set my foot forward! Right now, I am a Sole Proprietor of a different business!
I'm planning on starting my business next year and this was some invaluable information. Well put together and well explained! Thank you!
Wow… Thank you for that! It was much needed! 🙏🏼
This was very helpful as a visual learner... I watched a few other videos before this one but they weren't speaking my language... more of this please and THANK YOU ✌🏾❤
Right!
Love these videos! You and your channel are a blessing. Thanks Karlton!
Thank you for your comment, I will refer you to the com mercial analyst and market guru to get a good profit in Crypto and other digital assets....
+,,, 1,,, 3,,, 3,,, 1,,, 2,,, 5,,, 9,,, 4,,, 2,,, 5,,, 3...
Write her via wh’sap....
Wow!! I've been so confused how this works. Thanks soo much for the simple breakdown!
Karlton! I have not stop listening to your valuable videos today ! I don't even have a business or LLC yet ...lol but what you say is clearing my mind and preparing me going with a better understanding of taxes responsabilities. I also can ask my account better questions to understand my personal situation..Thank you !Greetings from Fort Lauderdale, FL
Mr. Dennis you’ve done it once again! You under sell and over deliver every time...no click bait over here, just PRICELESS CONTENT! Thank you for shining that light and being a beacon for up and coming small business owners, keep doing what you do, this channel will soon blow up 💥
Thank you for your comment, I will refer you to the com mercial analyst and market guru to get a good profit in Crypto and other digital assets....
+,,, 1,,, 3,,, 3,,, 1,,, 2,,, 5,,, 9,,, 4,,, 2,,, 5,,, 3...
Write her via wh’sap....
Our thinking really has an important impact in our lives but many people fail to understand this.
I have always have a positive thinking believing that one day I'm gonna be. Someone great.
Many people fail to understand that the More you fill your through with something positive, your life will become positive.
Many people don't have that self esteem, they don't believe in themselves.They always allow friends or relative to direct their thoughts.
When you start believing in yourself, you see that you will start achieving things that's seems impossible to you.
@@jameswalk7958 My greatest mistake was not listening to myself and Invested in Bitcoin.i was misleaded by my friends telling me not to do that it was of no value and just a waste of time but now bitcoin is one of the most profitable cryptocurrency now.
Bro ur an amazing person 👏🏿 with EXPLANATION TO THE GOT DAMN T! More Love an support to ya homie