C-corp is designed to be a pass through entity. Can’t get taxed when there’s no income inside of it. You didn’t mention anything about the benefits and the things you can do with a c-corp that an LLC cannot do. Great info on LLC’s though.
@@mhazley71 yes it can oversee an LLC and the difference between S and C is that C has more tax deductions available than S does. They always talk about c corp gets double taxed. If you just pay yourself a salary, you don’t have to worry about that and looks good for the banks when getting loans.
You'll teach us the right ways to go through and we understand but can also like show us how these rich guys save their money so they don't have to pay taxes Can legally or even illegally just want to know
Great content, thank you! Could an LLC be converted to a C corp later if the business continues to grow and finds it beneficial for raising capital? Thanks again!
For beginners is best to start of with LLC ..one because you want to build and make more money and once you do that’s when is best to switch to an s-corp and will be best when it comes to taxes, but always get a professional to handle your taxes on both .
Wouldnt the personal income paid out as a salary be a "business expense" and therefor deducted from your business income and only paid for personal tax?
You can open person account with ein number get secure credit card that turns into full credit card don't ever put a credit card in your social security number one you born and get if anything get a cpn put stuff in that and ein
I have a question about when filing taxes when your a sole prop you receive a 1099 my question is when your a scorp what form is it that they would use?
@@LYFEAccounting well when I was calling around different places to obtain 1099s a few of the places was like "if your incorporated we don't give 1099s" so I was just trying to figure out what is it then that I'm suppossed to be getting or am I suppossed to just go off my own records and numbers? We are a trucking company (small ) but still a company
Dear I am non usa citizen I get registered llc in wyoming state and I want to start online bussiness in amazon .I want to fill them Ein form .can you suguest to me which entity I get select in Ein form between Desregarded entity vs corporation corporation? Plz get help
I have C-Corp and i think it's worth it simply because C-Corp can get refunds from taxes paid and when a business its growing like a small construction company with so many assets to depreciate at some point, at a 10million tax bracket or above, deductibles fall under this with AMT. I think it doesn't end up flowing to your personal and that's the mystery with the terms Limited Liability.561110 is my NAICS.I just learned and started doing my own taxes when I had a sole proprietorship before. I would elect to be an LLC but not sure if it's worth t as the company grows. When i had a couple of properties and some stock, I wished i would have filed a 1120.Please correct me if I can adjust the way i see the true benefits in getting doubled taxed which fully separates your company from your personal I also heard that you get approved for Loans faster with a C-Corp
Informative and excellent video. Why someone so eloquent still chooses to mispronounce "especially" is beyond me, though. This must be how languages change over the centuries lol
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Tbh Waka Flocka brought me here Thank You
Lmao same
right, i noted llc, c corp, and trust funds and researching each one.
Lol
Me to !
Same
First of all I love to see women who look like me doing it..second thank you so much for the advice !!!
She so pretty. Thanks for the info came back here to review
Once again so easy to understand Kystal. Thank you
Glad it was helpful!
Keep giving Girl! I love ❤️ to see it! Thank you
C-corp is designed to be a pass through entity. Can’t get taxed when there’s no income inside of it. You didn’t mention anything about the benefits and the things you can do with a c-corp that an LLC cannot do. Great info on LLC’s though.
Can a c-corp oversee an LLC?
What is a major difference between an S/C Corp?
@@mhazley71 yes it can oversee an LLC and the difference between S and C is that C has more tax deductions available than S does. They always talk about c corp gets double taxed. If you just pay yourself a salary, you don’t have to worry about that and looks good for the banks when getting loans.
@Carlos
🤯🤯🤯🤯
I really appreciate that information. Stay blessed brother.
Thanks for clarifying!
@@Carlos-Saldana could you explain how it helps when trying to get a loan
Should I change my llc to a c Corp or leave it an llc in order to create a (very desperately needed/legal) tax shelter for myself?
Great delivery, thanks!
Glad you like it!
You'll teach us the right ways to go through and we understand but can also like show us how these rich guys save their money so they don't have to pay taxes
Can legally or even illegally just want to know
Noted, thanks for the suggestion!!
Great content, thank you! Could an LLC be converted to a C corp later if the business continues to grow and finds it beneficial for raising capital? Thanks again!
waka flaka sent me
Shoutout Waka🤟🏾
For beginners is best to start of with LLC ..one because you want to build and make more money and once you do that’s when is best to switch to an s-corp and will be best when it comes to taxes, but always get a professional to handle your taxes on both .
Thank You!! Great Video
can we create an LLC and then migrate to a C- Corporation? I am just starting from Mexico so my budget is limited
If I’m trying to own a food truck, should I go with a sole proprietorship?
This is great information. Thank you.
Good info , thanks love.
Great content! Thank you for sharing your knowledge!
For sure! Thank you for sharing
Could you put video on Capital gains? How to compute Cg and taxability of CG?
Do you also have to play Self employment taxes on the dividends you take out of the c corp?
Thanks definitely helpful
as non us resident how to avoid 30% withholding especilly my country has no tax treaties with USA
Followed the lead of Jon Nupe... good job Lyfe...
Good focus. Keep going
Great Content thank you👍🏾
My pleasure!
Wouldnt the personal income paid out as a salary be a "business expense" and therefor deducted from your business income and only paid for personal tax?
Appreciate the information
Which one is better to use when you're borrowing the money from your 401k to start a small business?
You should watch our video on 401K
Very good explanation
Thanks!
What site can set up one at ?
Appreciate the info
You can open person account with ein number get secure credit card that turns into full credit card don't ever put a credit card in your social security number one you born and get if anything get a cpn put stuff in that and ein
That was very helpful . Thanks.
#6 Issue stock and shares? Is there any differences?
You’re not double taxed in a C Corp. the money you pay yourself is a right off for the c Corp. so it does not pay taxes on that amount.
I have a question about when filing taxes when your a sole prop you receive a 1099 my question is when your a scorp what form is it that they would use?
Well technically you should be using a P&L for both
@@LYFEAccounting well when I was calling around different places to obtain 1099s a few of the places was like "if your incorporated we don't give 1099s" so I was just trying to figure out what is it then that I'm suppossed to be getting or am I suppossed to just go off my own records and numbers? We are a trucking company (small ) but still a company
I actually signed up with you guys for help however your company has a waiting list so
Do you do LLC registration for US non residents?
Dear I am non usa citizen I get registered llc in wyoming state and I want to start online bussiness in amazon .I want to fill them Ein form .can you suguest to me which entity I get select in Ein form between Desregarded entity vs corporation corporation?
Plz get help
Thank you for the break down. Can I start my business as a llc & when my company gets bigger change it into a c corp??
You absolutely can!
@@LYFEAccountingthat's the answer I'm looking for. Thank you
Thank u
She is pretty
Thank you!!!!!!!!!!!!!!!!!!!!!!!!!!
You're welcome!
I have C-Corp and i think it's worth it simply because C-Corp can get refunds from taxes paid and when a business its growing like a small construction company with so many assets to depreciate at some point, at a 10million tax bracket or above, deductibles fall under this with AMT. I think it doesn't end up flowing to your personal and that's the mystery with the terms Limited Liability.561110 is my NAICS.I just learned and started doing my own taxes when I had a sole proprietorship before. I would elect to be an LLC but not sure if it's worth t as the company grows. When i had a couple of properties and some stock, I wished i would have filed a 1120.Please correct me if I can adjust the way i see the true benefits in getting doubled taxed which fully separates your company from your personal
I also heard that you get approved for Loans faster with a C-Corp
Bravo
Board of directors can vote you out a buisness with c corps and s corps
Same
Commenting for RUclips algorithm
You’re awesome, thank you🙏🏽🙏🏽🙏🏽
Woka sent me
IM HERE CUZ OF WAKA
I want to work with other LLC's how do LLC's partner?
A simple contract should suffice
Waka flocka brought me here! Lmao 🤣
Krystal is distractingly gorgeous...
That’s a lot
It may be that you are still young, but it was a bias video. The best choice clerly is C corp for most cases.
Informative and excellent video. Why someone so eloquent still chooses to mispronounce "especially" is beyond me, though. This must be how languages change over the centuries lol
your beautiful
Your so beautiful 😍