This is rather interesting. I have a Individual Banker EIN. It is a private bank. Then i have a irrevocable foreign grantor trust. "98ein" i am trustee, then i have estate EIN as executor. I use 1041 forms with 56form fiduciary. Then iset up llc. The trust holds assests, the estate settles debts using tax forms or other negotiable instruments and the llc is my public employee or my front guy. So im set upa little different and treesked it up. This is my first time on this channel and your info was educational and deserves a subscribe
This is the second video of yours that I watched. I subscribed because of your enthusiasm and because I’m learning A LOT! I’m not a small business owner, but there’s no reason not to learn about taxes and how they affect us. Thanks so much for sharing your knowledge!
Each LLC has a minimum tax / fee $1,000 - $1,500 per year to the Franchise Tax Board. Wealthy use irrevocable trusts, not llc's. Ten LLC's would cost thousands per year in minimum taxes and fees.
Interesting. You live in CA right? Here in VA the annual fee is $50. So quite a difference. Therefore, where you are incorporating could be a determining factor as to whether it's worth it or not.
This is so interesting. I'm amazed that this wealth of info is free via this video. I'm dirt poor and my main skillset is art, so I doubt I'll ever be able to effectively actualize in this way, but it is certainly interesting and Mark seems great. I'm envious, but with respect!
My CPA told me of a person in my Mother's trust taking money and he turns out to be an Assistant DA. Him and his uncle have been stealing for 30 years.
I live in Virginia and followed this strategy and now I have to pay twice the tax. If you pass through from llc 1 to llc 2/s-corp the state considers them separate entities and the llc gets taxed and then pushed through the s-corp and taxed again
I think you are supposed to convert the LLC1 into LLC1-SCorp not open a whole new LLC2 on that operational side. LLC2 would be on the separate holding side of the equation.
Ceteris Paribus. Just because you convert to an LLC doesn't mean you're going to become a billionaire overnight. LLCs have just as many problem as non-LLCs... it's a different set of problems...
I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
@@johnnycasteel7 I dont think he's necessarrly lazy, but not circulating money back into the economy is when it becomes a problem, which is what most people do...
If you’re going to work with an s-corp in CA you have to pay yourself wages, which means you have to start a payroll and pay taxes on it. CA has a way to prevent you from saving money.
@markjkohler so, this may be total blasphemy and would love to be corrected but it would appear that the Trifecta has a major design flaw when it comes to privacy. If my estate (RLT) owns the LLCs directly, especially the ones that have risky assets like rental properties, then in the event of a lawsuit my info (I would be the trustee and I hear that would be in the deed of the property) will be part of the public record as to who owns that LLC. That then would lead the potential plaintiff to pursue me personally (a RLT has zero asset protection as it is all about bypassing probate). Why not instead have a WY holding company own the local LLCs that operate or hold property, and then that WY HC is in the RLT? That way, in the event of a potential frivolous lawsuit, when someone looks at the public record as to who owns the LLC that owns the rental property, they will not see my name but will see it is a WY LLC and that, on its own, may deter from even suing since that state will not reveal who owns that WY HC LLC. Kind of making oneself less attractive when an ambulance chasing lawyer is assessing if suing you is even worth it.
Good points. Keep in mind that you first want rock-solid asset protection. In the 90s, I learned from Dr. Arnold Goldstein, an asset protection attorney from Florida, that you should assume you have to turn over your entire plan to the judge and see if you have any protection. Privacy is like icing on the cake; that comes second. There is a blended point of view. Both of you have good points. I have seen several advanced seminars that use multiple land trusts, owned by LLCs, owned by other trusts, in multiple jurisdictions... It all starts with the basics of moving real estate out of your own name personally (all in my opinion and not legal advice).
I do t wanna sound ignorant, I have been in those shoes, but if you can’t afford to have you entities done correctly professionally then you probably don’t need any of these. Good luck folks
Why would the tax return be 1040 as it should be a 1041 being a trust. Exposing it in a 1040 exposes assets. A foreign grantor trust would eliminate taxes.
Well explained. Thanks for bringing up the videos financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject.
Mark! I am a Complete Tax, Finance, Tax Law Geek and NERD!! Love your content Man. - I am going to write a Article about you on my High Finance Blog. Will be intouch. 👍
this is not an investemnt and or crypro channel and you have 95% of comments scammers scamming utube should do more.about this instead of blocking freespeach about comments they dont like
@@robert549 they talk about asset protection and taxes its not a crypto channel or what to invest in channel is my point, they dont talk about tradding or what to buy , so i was saying dont listen to the comments about what to buy and or invest in , see you are just looking to be contrarian to what ever it is so to have an arguememt but if you would have read what i wrote it clearly says utube should do more about scammers scamming instead of blocking those who just have opinions that the algo flags
I have heard from many professionals that a single-member LLC has a much higher chance of being audited than a multi-member LLC. Does anyone know if that is true?
I have watched many of your videos regarding asset protection using LLCs and a RLT. I think there may be a downside to placing multiple stock investments in an LLC owned by the RLT of the joint spouses upon the first death. I believe the step-up in basis will be on the LLC basis - not the individual stock basis. This situation would cause subsequent gain on sale of an individual stock to be calculated on the "internal" cost (not the stepped-up cost basis) of the stock. The K-1 would show the taxable gain without any regard to the step up. The step-up upon the first death would only affect the sale or dissolution of the LLC. Do I understand this correctly?
On the #2 operational side, I don't understand why you wouldn't just start as an S-Corp?.... Starting as an LLC (unless you have multiple employees) over just starting as an S-Corp - regardless of your revenue - never made any sense to me.
If you have $200,000, $2,000 is affordable and if you don't have $200,000 in the account then you don't have to worry about paying $2,000. LLC maintenance fees are $500 a year... Anyone with a job should be able to pay $500 a year and if you're a veteran, you don't have to pay for your LLC for five years
Regarding the s corp distributions. Mark seems to be dismissive about paying a low salary and above and beyond that salary in distributions. The reality is that while he may have never had an issue with the IRS, the problem with his advice is not whether the IRS WILL question the salary, the problem is that they CAN question it. Once the IRS is looking at your stuff, they will keep digging. Not something most people want. My advice, do a reasonable compensation study and use that as your basis. Don't do things that can raise flags.
What type of LLC can I start to use for day trading? I currently live in Michigan and I'm using prop firms, which are companies that fund traders with an account to trade with specific rules and earn payouts I believe it counts as ordinary income but I'm wondering if I can start an LLC for this purpose to save on taxes. Appreciate your help!
When the new tax laws are in place can we use them in 2024 or have to wait for 2025? Such as buying equipment and getting the bonus depreciation? This question written after his election.
There are tax rules, and tax laws, and some people have been either lucky, at increasing their wealth. If you could put money into a 401k, then you can avoid taxes until you cash out. This is where a few, have hit gross wealth, as unrealized capital gains are not taxed until they are realized. Also, a grossly successful guy, bought a company that was losing money, and turned it around. When he sold, he sold it for $120-$132 million (depending on future sales), note, he sold it 25 years later. But, he also used the success, to buy a business for his son, and his son owned and ran a successful 1950's style restaurant, in a busy location. But, that guy, realized his gain, over two years, and was grossly taxed for those two years. But, as an owner, he was also able to move to a state, that did not tax personal income, by buying a house there. So, he was able to pay less in taxes, for the 25 years of equity, that he cashed out in two years.
First, thanks Mark for all of your great content. You've provided a map and I'm following along that path. Unrelated question: what digital drawing product do you use in these videos?
Shouldn't every rental house be part of two LLC's? One to hold, one to rent. Mark you never explicitly mentioned this for folks. You need an LLC to manage the properties. Two is enough for a few rentals. Once you grow, start S-corp but don't do W2. Have a regular W2 job
@11:43, you mentioned a property management Operation LLC in California. Let's say you have Florida and Tennessee holding LLC to take title of investment properties. Can you use the CA LLC to be the manager for FL and TN investment properties? Can CA LLC receive rent, sign leases and etc?
I used the company to create an llc for a rental on AZ. It was filed as a partnership instead of husband and wife which has made my taxes much more complex then it would have it it had been a husband and wife LLC.
If you are already grossing over the FICA limit on your regular W2, does S-corp still save you for side hustle income? I'm thinking no since you won't save the 7%-ish (Employers always pay the FICA share anyway?).
Hello Mr Kohler I guess my question is Even though it might be difficult to answer Or perhaps not Let’s say I setup an LLC And I have many side hustles Landscaping, janitorial work , Facebook furniture reselling Etc… Keep in mind the LLC has an ambiguous name and could attach Many DBA underneath Can I umbrella many of these side business under the same LLC ?
Well, there’s at least something I don’t have to worry about. I got nothing to hide! I will work until I’m 75 at least and live on meager savings and Social Security. Wish me luck!
I’m in about 28 minutes here- so your flow chart is showing your s corp putting $ into your investment LLC for Roth, 401…. Is that the case? Your s corp can invest the $ into your investment LLC? I didn’t think that was allowed. It looks like one company paying another and getting nothing in return. Can you explain this some?
Hey Mark! I just referred over 100 people to your channel just now, as a result of a topic on social media regarding this very subject. You're welcome love!! You're going to educate a lot of folks today!
Question, if I have a ca. retirement from state and planning on investing in some rentals, do I open a llc to protect my state retirement from taxes? Rental?
very cool. one thingI didn't follow you. can my income for the llc ops be a W2? if yes that means I can do the s-corp and report that instead of w2 to IRS? thanks in advance for your clarification :)
no, it has to be 1099 / business / passive income. The company you work for reports your W-2 income to the IRS,. If you don't put it on your indiv tax return, you'll be getting a bill.
Thank you for your videos on the Trifecta structure. I am looking for a way to deed my house mortgage debt into any pass-through entity constituted for the purpose of paying off the mortgage and generating some passive income, that I may not distribute to myself for some years, while fully reinvesting into the entity. Would the Trifecta help? Any advice?
Hey and thanks for the video, My question is if i have a duplex rental property that i live in one side and the other side is rented. I cannot put it under the llc as the house is homestead and by laws you can't have both the homestead and llc together. I'd appreciate recommendations
I’m glad I found this❤I just started an LLC in 2023 with no help besides these companies like yelp and Angi who kinda put me in the hole.Having gotta business like I expected and still figuring out about this business journey. I’m also a notary which I want to become a loan signer officer and i recently completed my pre licensing course I want to do commercial and invest in properties but don’t have the right tools or people to help me succeed.I’m just trying to become wealthy and leave generational wealth for my children!!! How can I get more information about your company?
Investing in hedge funds by yourself can be risky due to their complex strategies, high fees, and potential for significant losses. Without expert knowledge, it's challenging to fully assess the risks and returns, making professional guidance crucial.
Hedge funds can be tricky to navigate without deep financial expertise. The complex strategies and high fees involved mean that the risks can be substantial, and it’s hard to fully grasp these without experience. Professional guidance is key to making informed decisions and avoiding potential pitfalls.
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market.
Your videos have been great!! I am one of your viewers and have been watching your videos lately. I would like to invest but I still can't seem to find the right investment to commit to. I would appreciate any help here.
📣Smart people use the same tax system we all use, just better. I’m learning a lot! Also just learned about whole term life insurance being used as your own personal bank, and, the more years you have it the better off you are. Wish I learned about this years ago. Better late than never 🤩
This is rather interesting. I have a Individual Banker EIN. It is a private bank. Then i have a irrevocable foreign grantor trust. "98ein" i am trustee, then i have estate EIN as executor. I use 1041 forms with 56form fiduciary. Then iset up llc. The trust holds assests, the estate settles debts using tax forms or other negotiable instruments and the llc is my public employee or my front guy. So im set upa little different and treesked it up. This is my first time on this channel and your info was educational and deserves a subscribe
I've been trying to do this but I can't get to n find anyone that wants to open a forgien business trust account but Wells Fargo
Won't be possible anymore with BOI
This is why there are haves and have nots. Those who do the work reap what they sow. This one video is worth a ton.
I totally agree
This is the second video of yours that I watched. I subscribed because of your enthusiasm and because I’m learning A LOT! I’m not a small business owner, but there’s no reason not to learn about taxes and how they affect us. Thanks so much for sharing your knowledge!
Each LLC has a minimum tax / fee $1,000 - $1,500 per year to the Franchise Tax Board. Wealthy use irrevocable trusts, not llc's. Ten LLC's would cost thousands per year in minimum taxes and fees.
Interesting. You live in CA right? Here in VA the annual fee is $50. So quite a difference. Therefore, where you are incorporating could be a determining factor as to whether it's worth it or not.
When I lived in Cal, most businesses there incorporated, etc. In Nevada because of liberal incorp laws and low rates.
the IRS is targeting Trusts for tax invasion even more today than ever. Just passed a new law going after tax evaders
This is so interesting. I'm amazed that this wealth of info is free via this video. I'm dirt poor and my main skillset is art, so I doubt I'll ever be able to effectively actualize in this way, but it is certainly interesting and Mark seems great. I'm envious, but with respect!
That's too bad you've decided you will always be dirt poor.
This has been by far one of the best educational videos I’ve seen on TH-cam in a very long time!
My CPA told me of a person in my Mother's trust taking money and he turns out to be an Assistant DA. Him and his uncle have been stealing for 30 years.
This sounds like what happened to my family.
Outcome?
😮😮😮😮
Never happened
I've heard about this who actually robbed everyone's retirement money. His name was federal reserve. I can't believe he keeps getting away with it.
I live in Virginia and followed this strategy and now I have to pay twice the tax. If you pass through from llc 1 to llc 2/s-corp the state considers them separate entities and the llc gets taxed and then pushed through the s-corp and taxed again
I think you are supposed to convert the LLC1 into LLC1-SCorp not open a whole new LLC2 on that operational side. LLC2 would be on the separate holding side of the equation.
Good stuff. Talk about the reasonable income and how to qualify for a mortgage.
Ceteris Paribus. Just because you convert to an LLC doesn't mean you're going to become a billionaire overnight. LLCs have just as many problem as non-LLCs... it's a different set of problems...
When you have one asset, LLC, owning another asset, LLC, don’t you lose some asset protection by structuring it that way?
I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
It’s not hiding and it’s not avoiding taxes, it’s incentives to stimulate the economy.
This should be crime how rich stay rich
@@breonmitchell2443 why? Because you’re too lazy to read up on it?
@@johnnycasteel7 I dont think he's necessarrly lazy, but not circulating money back into the economy is when it becomes a problem, which is what most people do...
@@JackVitick what's wrong with that? the govt pisses it away by the billions. circulating back into the economy is not our responsibility
@@johnnycasteel7 I've been doing some reading up on this, and I really learned a lot when I started asking who owned the slave ships.
seeing it visually is SO helpful. thank you sir
Insightful. I have just ordered your book.
If you’re going to work with an s-corp in CA you have to pay yourself wages, which means you have to start a payroll and pay taxes on it. CA has a way to prevent you from saving money.
Mark Kholer for president!
thank you, lots of clear information explained with examples in such a short video.
Wondering how this applies to assets in foreign countries?
Great video thank you sir
@markjkohler so, this may be total blasphemy and would love to be corrected but it would appear that the Trifecta has a major design flaw when it comes to privacy. If my estate (RLT) owns the LLCs directly, especially the ones that have risky assets like rental properties, then in the event of a lawsuit my info (I would be the trustee and I hear that would be in the deed of the property) will be part of the public record as to who owns that LLC. That then would lead the potential plaintiff to pursue me personally (a RLT has zero asset protection as it is all about bypassing probate). Why not instead have a WY holding company own the local LLCs that operate or hold property, and then that WY HC is in the RLT? That way, in the event of a potential frivolous lawsuit, when someone looks at the public record as to who owns the LLC that owns the rental property, they will not see my name but will see it is a WY LLC and that, on its own, may deter from even suing since that state will not reveal who owns that WY HC LLC. Kind of making oneself less attractive when an ambulance chasing lawyer is assessing if suing you is even worth it.
I'm new to this... WY = Wyoming; HC - Holding Company?
Just trying to understand what you are communicating. thx.
Correct
Good points. Keep in mind that you first want rock-solid asset protection. In the 90s, I learned from Dr. Arnold Goldstein, an asset protection attorney from Florida, that you should assume you have to turn over your entire plan to the judge and see if you have any protection. Privacy is like icing on the cake; that comes second. There is a blended point of view. Both of you have good points. I have seen several advanced seminars that use multiple land trusts, owned by LLCs, owned by other trusts, in multiple jurisdictions... It all starts with the basics of moving real estate out of your own name personally (all in my opinion and not legal advice).
I do t wanna sound ignorant, I have been in those shoes, but if you can’t afford to have you entities done correctly professionally then you probably don’t need any of these. Good luck folks
If you cannot afford it then this isn't for you. Learn how to make money first.
Thank you for explaining and this displays your integrity. If people dont sign up and go with someone else they need thsir head read..
Why would the tax return be 1040 as it should be a 1041 being a trust. Exposing it in a 1040 exposes assets. A foreign grantor trust would eliminate taxes.
RLT is a grantor trust. Usually no 1041 needed.
Is that not cheating?
@@shenlawthe LLC’s would each be filing their own 1041.
Well explained. Thanks for bringing up the videos financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject.
Thank you. No one has ever explained this so succinctly. I appreciate your knowledge and delivery.
Don’t do this, you’ll only be over complicating your life and you’ll have to pay a bunch of fees.
And ur suggestion?
@ don’t do this bruh
Before I watch the entire video, could you please confirm if this all applies the same way to Canadians?
An LLC is not worth doing unless you have a large business.
Otherwise, it’s way more work than it’s worth
Mark! I am a Complete Tax, Finance, Tax Law Geek and NERD!! Love your content Man.
-
I am going to write a Article about you on my High Finance Blog. Will be intouch.
👍
this is not an investemnt and or crypro channel and you have 95% of comments scammers scamming utube should do more.about this instead of blocking freespeach about comments they dont like
Perfectly said
Wrong. People involved in this channel are involved in crypto, and id you read the description you will see.
@@robert549 they talk about asset protection and taxes its not a crypto channel or what to invest in channel is my point, they dont talk about tradding or what to buy , so i was saying dont listen to the comments about what to buy and or invest in , see you are just looking to be contrarian to what ever it is so to have an arguememt but if you would have read what i wrote it clearly says utube should do more about scammers scamming instead of blocking those who just have opinions that the algo flags
What if I just want to keep my physical address private to open a bank account for now? Opening a farm next year.
Fab, but what about the Brits / the UK-based super wealthy? I'd like to see a video like this for us entrepreneurs and investors in the UK.
What if you have a 6 figure w2 and a side hustle making over 50K? Does the s corp still make sense?
I have heard from many professionals that a single-member LLC has a much higher chance of being audited than a multi-member LLC. Does anyone know if that is true?
Thank you so much for the video... And I don't think it's a get rich slow scheme and is a get wealthy incrementally plan
A bunch of people tried using LLCs during covid when they got their money now the IRS is after all of them😂😂😂
if my grandma had wheels she would have been a bike... so what does that have to do with this video?
No they didn't. That's why they got busted. They bought a bunch of expensive stuff.
Probably because they weren't even real businesses, so they were just defrauding the govt.
They WHO? And WHAT money for what?
@@BobsterAction funniest reference ever 😂😂
If you pay less self-employment tax doesn't that mean you'll get less social security benefits too?
wouldnt you have the holding company own the operational company, and the trust own the holding the company?
I have watched many of your videos regarding asset protection using LLCs and a RLT. I think there may be a downside to placing multiple stock investments in an LLC owned by the RLT of the joint spouses upon the first death. I believe the step-up in basis will be on the LLC basis - not the individual stock basis. This situation would cause subsequent gain on sale of an individual stock to be calculated on the "internal" cost (not the stepped-up cost basis) of the stock. The K-1 would show the taxable gain without any regard to the step up. The step-up upon the first death would only affect the sale or dissolution of the LLC. Do I understand this correctly?
Another banger.
On the #2 operational side, I don't understand why you wouldn't just start as an S-Corp?.... Starting as an LLC (unless you have multiple employees) over just starting as an S-Corp - regardless of your revenue - never made any sense to me.
Tax efficiencies differences. S makes sense , cost wise , to start with LLC first.
Rarely businesses are profitable first year.
Can I put my primary residence under an llc to protect it from personal liabilities?
Set up an Wyoming LLC as an holding company and transfer your residence to an land trust, then use Wyoming LLC as trustee
LLC's and trusts have insane maintenance fees thus the title of his video, "How the RICH Use LLc's...
Insane ? 😂 dude is nothing
@@-Iam-1. The annual fee for a trust with $200k would be about $2000 a year.
If you have $200,000, $2,000 is affordable and if you don't have $200,000 in the account then you don't have to worry about paying $2,000. LLC maintenance fees are $500 a year... Anyone with a job should be able to pay $500 a year and if you're a veteran, you don't have to pay for your LLC for five years
$200000 is a drop in a glass of water, just a Lowe income apartment will cost you 200k and you only can rent it for $1800 a month
Regarding the s corp distributions. Mark seems to be dismissive about paying a low salary and above and beyond that salary in distributions. The reality is that while he may have never had an issue with the IRS, the problem with his advice is not whether the IRS WILL question the salary, the problem is that they CAN question it. Once the IRS is looking at your stuff, they will keep digging. Not something most people want. My advice, do a reasonable compensation study and use that as your basis. Don't do things that can raise flags.
Can you have your stock trading under a s corp to save tax payments from stock gain?
What type of LLC can I start to use for day trading? I currently live in Michigan and I'm using prop firms, which are companies that fund traders with an account to trade with specific rules and earn payouts I believe it counts as ordinary income but I'm wondering if I can start an LLC for this purpose to save on taxes. Appreciate your help!
When the new tax laws are in place can we use them in 2024 or have to wait for 2025? Such as buying equipment and getting the bonus depreciation? This question written after his election.
There are tax rules, and tax laws, and some people have been either lucky, at increasing their wealth. If you could put money into a 401k, then you can avoid taxes until you cash out. This is where a few, have hit gross wealth, as unrealized capital gains are not taxed until they are realized. Also, a grossly successful guy, bought a company that was losing money, and turned it around. When he sold, he sold it for $120-$132 million (depending on future sales), note, he sold it 25 years later. But, he also used the success, to buy a business for his son, and his son owned and ran a successful 1950's style restaurant, in a busy location. But, that guy, realized his gain, over two years, and was grossly taxed for those two years. But, as an owner, he was also able to move to a state, that did not tax personal income, by buying a house there. So, he was able to pay less in taxes, for the 25 years of equity, that he cashed out in two years.
Thank you thank you thank you for your wisdom video is very good and your knowledge was very good
Yeah, try it and see how fast the irs comes breaking your door down. Its a big club, and you are not in it.
What do you think of Ron LeGrand's entity structuring for building & protecting wealth and minimizing taxes?
Wow this was amazing information
This is informative really
It costs $800 for each LLC /year in CA . He's not working reality for us.
Where is your charitable remainder trust in your trifecta? The assets side?
THANK YOUUU MARK!!! YOU ARE AMAZING!!!!👏🏼❤️🤗
First, thanks Mark for all of your great content. You've provided a map and I'm following along that path. Unrelated question: what digital drawing product do you use in these videos?
Microsoft Whiteboard
Shouldn't every rental house be part of two LLC's? One to hold, one to rent.
Mark you never explicitly mentioned this for folks. You need an LLC to manage the properties.
Two is enough for a few rentals. Once you grow, start S-corp but don't do W2.
Have a regular W2 job
These video are great 👍
too many llcs end up costing a lot of money for example in calif its 700 yearly...so it's ongoing expense
So the sole owner of all the Entities in the Trifecta is the Trust, and generally you as an individual are the sole Trustee?
Video explainer on ROTH IRA - Crypto Mining so we can prepare for 2025 bull run ser, thanks
@11:43, you mentioned a property management Operation LLC in California. Let's say you have Florida and Tennessee holding LLC to take title of investment properties. Can you use the CA LLC to be the manager for FL and TN investment properties? Can CA LLC receive rent, sign leases and etc?
I used the company to create an llc for a rental on AZ. It was filed as a partnership instead of husband and wife which has made my taxes much more complex then it would have it it had been a husband and wife LLC.
You didn’t mention trustee or custodian that dictates what you are able to invest in with your ROTH IRA.
Does a RVL use a ein or a itin ?
If you are already grossing over the FICA limit on your regular W2, does S-corp still save you for side hustle income? I'm thinking no since you won't save the 7%-ish (Employers always pay the FICA share anyway?).
Hello Mr Kohler
I guess my question is
Even though it might be difficult to answer
Or perhaps not
Let’s say I setup an LLC
And I have many side hustles
Landscaping, janitorial work , Facebook furniture reselling Etc…
Keep in mind the LLC has an ambiguous name and could attach Many DBA underneath
Can I umbrella many of these side business under the same LLC ?
Cant your ownership of llcs be seized in judgements ?
that's a HUGE maybe...
Well, there’s at least something I don’t have to worry about. I got nothing to hide! I will work until I’m 75 at least and live on meager savings and Social Security. Wish me luck!
I’m in about 28 minutes here- so your flow chart is showing your s corp putting $ into your investment LLC for Roth, 401…. Is that the case? Your s corp can invest the $ into your investment LLC? I didn’t think that was allowed. It looks like one company paying another and getting nothing in return. Can you explain this some?
HOW DOES THE OWNER OF LVMH HOLDING COMPANY DO IT 🙋♂️🙋♂️🙋♂️
Hey Mark! I just referred over 100 people to your channel just now, as a result of a topic on social media regarding this very subject. You're welcome love!! You're going to educate a lot of folks today!
Question, if I have a ca. retirement from state and planning on investing in some rentals, do I open a llc to protect my state retirement from taxes? Rental?
very cool. one thingI didn't follow you. can my income for the llc ops be a W2? if yes that means I can do the s-corp and report that instead of w2 to IRS? thanks in advance for your clarification :)
no, it has to be 1099 / business / passive income. The company you work for reports your W-2 income to the IRS,. If you don't put it on your indiv tax return, you'll be getting a bill.
Thank you for your videos on the Trifecta structure. I am looking for a way to deed my house mortgage debt into any pass-through entity constituted for the purpose of paying off the mortgage and generating some passive income, that I may not distribute to myself for some years, while fully reinvesting into the entity. Would the Trifecta help? Any advice?
best explanation
So you dont have yo file taxes on the other 2 llcs just the 3rd one or just the one you drw incom from and the 3rd one?
Don't you have to have a certain amount of revenue coming in to qualify for an S~Corp?
Why not just start off with an operations S-Corp LLC (#3) rather than starting off with #2 operations LLC & then converting it to type #3?
Hey and thanks for the video,
My question is if i have a duplex rental property that i live in one side and the other side is rented. I cannot put it under the llc as the house is homestead and by laws you can't have both the homestead and llc together.
I'd appreciate recommendations
Do all of these llc have different names? Is it possible to have 1 llc and file DBA under the one for the same outcome?
I’m glad I found this❤I just started an LLC in 2023 with no help besides these companies like yelp and Angi who kinda put me in the hole.Having gotta business like I expected and still figuring out about this business journey. I’m also a notary which I want to become a loan signer officer and i recently completed my pre licensing course I want to do commercial and invest in properties but don’t have the right tools or people to help me succeed.I’m just trying to become wealthy and leave generational wealth for my children!!! How can I get more information about your company?
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The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market.
Question- what does LLC 2
offer that an S Corp does not? In other words why not just have the S Corp?
Isn't this void considering Beneficial ownership reporting?
"Insider trading and selling Americans poison is how I got rich." - warren buffet
I,m interested in converting to a S-Corp. How do I reach your firm for support?
Don't you run into UBIT tax for businesses in a retirement plan like an IRA LLC?
The real secret...use a PMA not an LLC
Your videos have been great!! I am one of your viewers and have been watching your videos lately. I would like to invest but I still can't seem to find the right investment to commit to. I would appreciate any help here.
At what point is something like this worth the effort thought?
Can I do this from the UK? Mark
📣Smart people use the same tax system we all use, just better. I’m learning a lot! Also just learned about whole term life insurance being used as your own personal bank, and, the more years you have it the better off you are. Wish I learned about this years ago. Better late than never 🤩
How about if you have partner do you need two business account?
Thanks!
Hi Mark, I’d like to do what you are suggesting like in this video. Is there a number I can call and talk with you on setting this up?
Thank you