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Pls explain in detail on how you get the year by year 😭

Why the background music ?

what about one memeber LLC for a owner from india formed LLC in delaware !

That's messed up they obligate you to pay taxes or Also you go to jail that's not nice we shouldn't even be paying taxes in the first place. Land of freedom yeah right more like they control you they also force you to have a state ID that's how they got you control you they already have your information also from your social security and birth certificate not to mention they force you to go to jury duty who do this people think they are to have us from the ears uncomfortable like I always say this country the USA is all about Money, Power And Control there's no freedom that's the real truth like it or not it is. We gotta follow uncomfortable rules that we don't like. 🤦‍♂️ Freedom respect for some us is everything unfortunately in this country we don't have it. Free like an Eagle 🦅 shining like the sun ☀️ the way we were born to be. Free from everything flying high hopefully one day we have it praying for it. ✝️🤞🙏

True

but u can deduct expenses in an llc right? which lowers your taxable income

Fuck that good thing trump changing all this ..trump trump trump!

Short term capital gains is taxed as regular income though…..

Just a rule of thumb, perhaps don’t put the microphone on the same table you are constantly hitting with your hands. The audio is horrible to listen to on headphones due to the fact that it is constantly giving the sound of Drum kick in the feedback

Is cell phone and subscription considered legit expense for C corp. Got to have to communicate

If you’re small and staying small, stick with Scorp, C corp is for wealthy people.

What is that annoying background pounding noise every few seconds? I can’t listen to your video because of that annoying noise . Remove it!

I dont think there is much substantial savings in llc or scorp, its just an eye wash.

If I make gross income of 100k, but after deductions, I earn around 65k, wouldn't it be smart to do an s corp instead of my LLC, so that I can save even 2-3,000 per year?

Great summary many thanks. Can you use that payment to yourself as a business expense so as to minimize taxes on the 100K you have ? (since you are spending time on the business and instead of hiring someone you are hiring youself). So if I have an employee and pay him/her 50K then the left is 50K. hence taxes due at the end are lower. Is that correct is incorrect ?

The music is so overwhelmingly sickening I would rather get an audit than have to listen to that for more second

All by design. To say this isnt intentional, is INCREDIBLY ignorant

So let’s say I pay myself an hourly wage of $30 an hour and pay myself out of the business’s income. Would my personal income get taxed separate from the business income or would it all be together?

There is the answer i was looking for ,not only paying yourself but filling taxes

Abolish the IRS and eliminate income tax 👍

I’m up $200k year to date on my stock portfolio 💰 and live Santa Maria C,A 805 cost 💲 💰 🏎️ 💸

What about having to pay FICA on the $100,000 profit?

which country is that

Most informative video ive come across on this subject. Thank you.

Do it have to be with buying a home? For example I have a house I have owned for 7 years as a rental and live in my primary. If I have the tenants leave and move into the property for two years then sell and I still expect first 250k tax free ?

Not worth it one bit... sounds worse than a hard money loan!!! No wonder why businesses faith with kind of 360 loan🙆🙆

With around $120k invested in Palantir stocks, any suggestions for additional stocks to diversify across various markets? Looking for a well-rounded portfolio that balances risk aversion with returns meeting yearly inflation concerns.

Right now, I’m feeling stuck as a new investor. I’ve started to notice how anxious I get about losing money, and it’s leading me to move my funds around more than I probably should. Anytime I see a dip, my first instinct is to sell off my stocks, thinking I’m protecting myself. But it’s clear those moves are adding up in capital gains taxes, especially with all the short-term trades I know sticking with a strategy is important, but I’m trying to figure out how to create one that isn’t just about ‘holding’ but also gives me room to grow and build more resilience for financial independence in the nearest future

Mahalo!

Do you have a video explaining the same thing but with a loss in the first year?

This video is amazing. You answer my question so simple. Thank you! Finally after going through so many videos

Hello

Don't you have to pay Medicaid, FICA, unemployment, SS, taxes?

that qpi and other abbreviations... please expand and explain them

Do you have one for cashflow statement

Thanks for this video. I am forming an LLC in the USA. I live in Canada. If I just have a regular bank account that I don't use for anything else that is based in the USA, can I use that as my business bank account?

How are SE taxes paid?

I’m on Social Security and Medicare. The thing that happens is yes we got a three point whatever percent increase last year but my Medicare part B payment also went up by $60 a month more than my cola so I actually took a $60 a month cut. I literally made best decisions when i started working with an advisor

this video is next lvl

Thanks for the info. Would such income be taxed at the same rate or a different rate if I have a mixed income from a W2 and my LLC?

Wouldn't paying yourself be regarded as a contract labor expense (Schedule C, Line 11)?

Where state it is?

Wow, just write yourself a check...thanks for clarifying how easy it is to pay yourself from a sole proprietor LLC!

Why not an S-corp?

Better yet is to file as S-corp and lower paycheck and take rest as profit distribution. Any reason you didn't include that option to save like 8%?

Good video but unless I missed it, there is the Self Employment piece of the tax return that wasn't addressed. Thanks

short term capital gains are tax as ordinary income..

What about self employed taxes 15.3% which we have to pay? Did you miss that part. Am sorry am new to this llc business

My people been flooring it with da pedal to the metal

What’s the better way to find them?