Thank you. One is able to understand what the four structures are in a business. Being able to explain...is one thing. Being able to understand what you are explaining is another thing. So, Thank you Again. I understood.
great video. thanks for explaining thoroughly. I am a new real estate agent/ Independent contractor. I hope you do a video when you write off your spending how much exactly you are writing off. I mean I don't understand how much we will get back from a example business travel, gas, rental property. if you make a video on how much tax write-off for business expenses for real estate agent. that will be great.
In a general partnership, one partner could be liable for the entire partnership liability. Here is how. Assume the partnership has a judgment against it for $2,000,000. The first place to look for the money is the partnership assets. Let's say that runs out at $1,000,000, so now the other $1,000,000 passes through to the partners, either pro rata or as the partnership agreement states. However (here is the catch), if the other partner cannot satisfy his/her $500,000 share, then the other partner if they have the assets will have to make up the difference to the third party claimant. The partner who pays more does have a right to sue the other partner, but the other partner has no more assets, so that is usually a moot point.
This was good knowledge, and I appreciate it! USEFUL!! however there were many grammatical errors throughout the video, keep an eye on that in the future. Thanks for the info
I am planning to start a tax preparation business from home. Which business structure would be best for me? Sole proprietor, Corporation or LLC? I will be the only owner.
I'd like to start a small trucking company. I've no partners at this and I'd like to start small by purchasing a small truck that doesn't require a cdl. What's the best entity for su h a business?
@@LYFEAccounting yes I have purchased a truck but it took all my funds . That's why I'm hesitant in setting up a llc . Not sure if it would be wise to establish the LLC now and I'm not ready to work the truck
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You rock. Thank you for this info. Super helpful.
Thank you. One is able to understand what the four structures are in a business. Being able to explain...is one thing. Being able to understand what you are explaining is another thing. So, Thank you Again. I understood.
great video. thanks for explaining thoroughly. I am a new real estate agent/ Independent contractor. I hope you do a video when you write off your spending how much exactly you are writing off. I mean I don't understand how much we will get back from a example business travel, gas, rental property. if you make a video on how much tax write-off for business expenses for real estate agent. that will be great.
I actually have a video on that! Try to search on TH-cam “tax write offs for real estate agents LYFE accounting”
In a general partnership, one partner could be liable for the entire partnership liability. Here is how. Assume the partnership has a judgment against it for $2,000,000. The first place to look for the money is the partnership assets. Let's say that runs out at $1,000,000, so now the other $1,000,000 passes through to the partners, either pro rata or as the partnership agreement states. However (here is the catch), if the other partner cannot satisfy his/her $500,000 share, then the other partner if they have the assets will have to make up the difference to the third party claimant. The partner who pays more does have a right to sue the other partner, but the other partner has no more assets, so that is usually a moot point.
Thank you for a great video explaining the purpose of each legal structure as well as selecting the best structure for my business.
This video was extremely well done! THANK YOU!! 🙏🏽🙏🏽
Thank You, Thank You, Thank You. This is Sooooo Informative. THANK YOU💖👏👏👏👍👍🤗 You Covered all my questions and more.
This was very helpful. Thank you!
Hi, thank you for your insight, yes, I would like to learn more about a Non Profits!
Very informative. Bring a lot of clarity to big subject. Non-profit video please👍🏾
Thanks for sharing!
. Thank you for sharing this great information.
@LYFE Accounting,,, I'm Interested in starting my Home- Baking Business. I chose The LLC 👍
Anybody can become a CPA just by watching your videos. Thank you for the great information always.
Haha I really appreciate that! Are you an accountant as well?
My guy Sean!! What up!! Another great video lyfe acct family
This was good knowledge, and I appreciate it! USEFUL!! however there were many grammatical errors throughout the video, keep an eye on that in the future. Thanks for the info
This was excellent. Great job sir.
Good info brother
YES NON-PROFIT INFO PLEASE 👍
Great video -thanks!!!!
Great information, thanks for this!
loving these videos!
I am planning to start a tax preparation business from home. Which business structure would be best for me? Sole proprietor, Corporation or LLC? I will be the only owner.
Amazing videos. But DBA's wasnt dealt with. Is there a diff between sole prop. And DBA?
I'd like to start a small trucking company. I've no partners at this and I'd like to start small by purchasing a small truck that doesn't require a cdl. What's the best entity for su h a business?
Great video and tutorial. Please, drop that tutorial on the Pros or Cons of a Non-Profit Entity... #Hotep
Please make a video for a non profit. Thanks
If we have been open for 11 months how can we setup on a LLC as a corporation instead of the pass through
If I have multiple freelance jobs do I need a different sole proprietor for each job or can I put my businesses under one umbrella?
Make that video on mon profit
Sounds like I’m going to have to make that happen!
@@LYFEAccounting Factz 💪
Make that video on mon profit👌
Said set up a trust fund not a LLC but seen you said umbrella companies
What business entity structure would be best for a start up tow company. LLC or dba.
Everyone business may have a different strategy. But an LLC seems safe, is this for you?
@@LYFEAccounting yes I have purchased a truck but it took all my funds . That's why I'm hesitant in setting up a llc . Not sure if it would be wise to establish the LLC now and I'm not ready to work the truck
Actually I have an LLC but elected to be taxed as an c Corp. does that mean I still have to have meetings?
Hello are you a business coach or is interested In being one 1on 1 ?
Setup talking about non profit companies plus I want reach you.
Make the non profit video please
Highly considering it! Do you currently own a business?
@@LYFEAccounting I have a side hustle that I want to upscale to a business