Clint - Thanks a lot for all your videos, these are very educational. Few questions regarding taking distributions out of the holding company, is that tax free or will it be taxed? Is there a limit to how much distribution I can take out of the holding company?
I loan money to the LLC as we have no revemnues. Can I reimburse myself? Example, I loaned $1,000 from credit union & deposited it in the LLC Capital Account as a "loan". Can I pay the credit union back that $1,000 from my LLC Capital Account?
Thank you for this information, quick question, for C-corp can you get reimbursed for the start up expenses from the I opened my business which was three years ago?
Excellent video. Two questions: If you have a Management Company (C-Corp), would it make more sense to take the salary from the C-Corp, or transfer the excess rent to the holding LLC and take it out from there as a distribution? Also, if you have a Management Company (C-Corp), that manages all of your rental LLCs AND your holding LLC, would it make sense to have tenants pay rent directly to the management company, keep some money there for maintenance, capex, vacencies, etc. (basically, all of your operational expenses), and then transfer the residual to the holding LLC, thus avoiding the need for bank accounts in all of the individual rental LLCs? Thanks!
So when considering a C corporation, the 1249 I am talking about, Should you build up as much equity in the property that you can just to shut the c Corp operation down and get the tax write off and then just start another C corporation
It is actually tax neutral in a flow through entity. The net profit or loss flows to the owners regardless of distributions being actually distributed.
Serious question, what if I have an LLC taxed as an S Corp and I am doing flips and new construction investing? How would this work in that scenario. Thanks
Exceptional way to go. You get to take advantage of and save on the Self Employment Tax, biz vehicle, health savings, medical, insurance, pension in the form of solo 401k, etc...
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This is some awesome information. You don’t have to imagine too hard. How many people get this wrong. This should be the fundamentals of everyone.
I'm glad you found the information helpful!
Tremendous information and very understandably explained.
Zalez Realty Glad to know you found the video helpful.
Thank you. This was very helpful ♥️
Clint - Thanks a lot for all your videos, these are very educational. Few questions regarding taking distributions out of the holding company, is that tax free or will it be taxed? Is there a limit to how much distribution I can take out of the holding company?
I loan money to the LLC as we have no revemnues. Can I reimburse myself? Example, I loaned $1,000 from credit union & deposited it in the LLC Capital Account as a "loan". Can I pay the credit union back that $1,000 from my LLC Capital Account?
You're the man Clint!
great information. you need more subscribers!
Thank you for this information, quick question, for C-corp can you get reimbursed for the start up expenses from the I opened my business which was three years ago?
Can you take the reimbursement in any calendar year? Or only the year the expenses were incurred? Can it be taken in a future calendar year?
Excellent video. Two questions: If you have a Management Company (C-Corp), would it make more sense to take the salary from the C-Corp, or transfer the excess rent to the holding LLC and take it out from there as a distribution? Also, if you have a Management Company (C-Corp), that manages all of your rental LLCs AND your holding LLC, would it make sense to have tenants pay rent directly to the management company, keep some money there for maintenance, capex, vacencies, etc. (basically, all of your operational expenses), and then transfer the residual to the holding LLC, thus avoiding the need for bank accounts in all of the individual rental LLCs? Thanks!
So when considering a C corporation, the 1249 I am talking about, Should you build up as much equity in the property that you can just to shut the c Corp operation down and get the tax write off and then just start another C corporation
So I can reimburse as opposed to writing off expenses?
Is money saved, the 20%, 199a, Is that still considered income for a mortgage even if you don’t pay tax on it?
What if my father gave me 1K Cash for my business? How do I categorize that? And does he pay taxes on the 1K?
What about an S Corp...
What about an Owner's Draw"
Thank you
Wondering the same
Can you expense all your food and rent to the corporation and give yourself a $1 salary?
Soes this managing Corp have connections with other LLCs? Who is the shareholder? Me?
When you reimburse money between yourself and your company, do you need to have receipts or such?
Thanks again great video
Glad you enjoyed it!
But i still need help what is Co-op. What explain
i have always wondered this. how could it be legal to get that money out of the business and into your account.
Then I owe a management company
How are distributions taxed to the holding company and individual?
It is actually tax neutral in a flow through entity. The net profit or loss flows to the owners regardless of distributions being actually distributed.
very clear! Thanks Clint. Great job.
Thank you.
Great video
I wonder if you can do this for a sole proprietorship.
For the LLC Do you pay Taxes on the distrubutions? Twice?
No. The LLC is a pass through entity so the members are taxed on the profit whether distributed or not.
Good job new 2020
I love you!
Do the same principles apply to an S corporation?
Some of the basic principles do but not all of them. C corporations and S corporations are not the same and have different uses.
Serious question, what if I have an LLC taxed as an S Corp and I am doing flips and new construction investing? How would this work in that scenario. Thanks
Exceptional way to go. You get to take advantage of and save on the Self Employment Tax, biz vehicle, health savings, medical, insurance, pension in the form of solo 401k, etc...
can't you just pay yourself a big fat bonus?
Of course. Any bonus processed as W2 income will be subject to payroll taxes.
2020 new video