This year's challenges will undoubtedly be more difficult. Looking back, I realized that I was so focused with my portfolio that I made disastrous financial decisions for the entire preceding year. I had to pick between increasing my investments and purchasing a house. After choosing to sell my investments, I discovered that the property I had purchased required more maintenance than I had anticipated. Trying to find out how much longer I can take this is becoming increasingly difficult.
Invest in companies that provide current cash flows to diversify your portfolio. I hired a planner at the end of 2022 to enhance my portfolio, and in the last ten months, I've made profits in over fifty thousand different marketplaces. Should 2023 teach us anything, it's that luck doesn't last forever. Even in times of abundance, we should put in more effort to prepare for the worst-case scenario.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
I was in Tax Court in Maryland years ago. There were two cases were the defendants were deceased. The judge only threw out one of the cases.😮 Everybody felt bad for the other dead guy who could not escape tax court. Even though he was already dead.😢 Damn.
Nice business structure. Curious though 🤔. Did you assign a life insurance policy to yourself and each of your family members. If as you said something happened to a family member. The trust would be the beneficiary from each policy. The mandate of the trust would require each future generation of your family lineage be insured naming the trust as a beneficial recipient. Just asking out of curiosity. Not providing legal advice.😎
Man o man more good info thanks bro bro appreciate the info. Question can I talk about this stuff if I started a youtube. And pass info on that I learn?
for the properties you own, if you did conventional loan on them and then transfer the title from your name to the LLC, I assume the mortgage still has your name on it. In that case if the tenant slip and fall, can he look up the lender info to find out that you are the borrower of the mortgage and sue both you and the LLC?
And that's all great and dandy BUUUUT...the really important question & reality is...WHO set that all up and WHO's minding all of that cumbersome and overwhelming PAPERWORK to keep everything running smoothly & efficiently!!? YOU? Okay--who would the average *Joe Blow* hire (just to get their one member (example: Imported ironing boards, car radios or whatever) business off the ground? A CPA? It's not as straightforward, easy, inexpensive and simple as ppl make it seem from a legal & compliance standpoint. It can and will become quickly overwhelming, cumbersome & disastrous for the uninitiated & unknowledgeable (like me!)
I have question, I am new to business and am looking at starting 2 LLC's this year. Are LLC S-Corps that own LLC's considered a "Series" LLC? In my state "Series LLC's" are not allowed and I'm trying to understand exactly what they are and how they may be different from what is described above.
Hey Karlton , really nice video ! I was wondering if I could help you with more Quality Editing in your videos , make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?
Hey @Karlton Dennis! What if my company gets a loan from my wife for 1mill... and if anyone ever tied to sue me I'd owe my wife the 1mil first correct?
Please do your own research, half of this is pointless and does nothing for your taxes. He failed to mention the distinction between legal entity choice and entity tax elections
Music is so annoying, and I can't focus on your talk. Informative videos should have no any annoying voices over or in the background or nearby, sadly cant watch this video
This year's challenges will undoubtedly be more difficult. Looking back, I realized that I was so focused with my portfolio that I made disastrous financial decisions for the entire preceding year. I had to pick between increasing my investments and purchasing a house. After choosing to sell my investments, I discovered that the property I had purchased required more maintenance than I had anticipated. Trying to find out how much longer I can take this is becoming increasingly difficult.
Take things easy, we've all made mistakes
Invest in companies that provide current cash flows to diversify your portfolio. I hired a planner at the end of 2022 to enhance my portfolio, and in the last ten months, I've made profits in over fifty thousand different marketplaces. Should 2023 teach us anything, it's that luck doesn't last forever. Even in times of abundance, we should put in more effort to prepare for the worst-case scenario.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Leah Foster Alderman. You'll undoubtedly find out more if you look her up online.
She appears to be well educated and well read. I ran an online search on her name and came across her website, thank you for sharing.
I was in Tax Court in Maryland years ago. There were two cases were the defendants were deceased. The judge only threw out one of the cases.😮 Everybody felt bad for the other dead guy who could not escape tax court. Even though he was already dead.😢 Damn.
This is valuable information. I'm currently working on transferring my family'a businesses to a Trust. Thank you for sharing 🙏🏾
This was incredibly informative! Please post a video on personal family foundation!
Super useful to be able to look into actual entity structures used by wealthy individuals! Explanations were also very helpful!
This man has some serious knowledge. He’s done his homework and more! 😊👍👍
My head is spinning after watching this video. lol.
Very clear presentation
Nice business structure. Curious though 🤔. Did you assign a life insurance policy to yourself and each of your family members. If as you said something happened to a family member. The trust would be the beneficiary from each policy. The mandate of the trust would require each future generation of your family lineage be insured naming the trust as a beneficial recipient. Just asking out of curiosity. Not providing legal advice.😎
I know you are a tax strategist. Does your firm actually do taxes?
Wow, this is absolutely amazing! What a helpful video! Thank you so much for never holding value back! So grateful for your, Karlton!!!
Man o man more good info thanks bro bro appreciate the info. Question can I talk about this stuff if I started a youtube. And pass info on that I learn?
for the properties you own, if you did conventional loan on them and then transfer the title from your name to the LLC, I assume the mortgage still has your name on it. In that case if the tenant slip and fall, can he look up the lender info to find out that you are the borrower of the mortgage and sue both you and the LLC?
Thank you, thank you, thank you! I really dig the way you explain it all bro. 👍🏽👏🏽☝🏽👊🏽💪🏽💯🙏🏽
And that's all great and dandy BUUUUT...the really important question & reality is...WHO set that all up and WHO's minding all of that cumbersome and overwhelming PAPERWORK to keep everything running smoothly & efficiently!!? YOU? Okay--who would the average *Joe Blow* hire (just to get their one member (example: Imported ironing boards, car radios or whatever) business off the ground? A CPA? It's not as straightforward, easy, inexpensive and simple as ppl make it seem from a legal & compliance standpoint. It can and will become quickly overwhelming, cumbersome & disastrous for the uninitiated & unknowledgeable (like me!)
I have question, I am new to business and am looking at starting 2 LLC's this year. Are LLC S-Corps that own LLC's considered a "Series" LLC? In my state "Series LLC's" are not allowed and I'm trying to understand exactly what they are and how they may be different from what is described above.
Thanks for the video. It clarified a few areas for the structure I was considering for an S-Corp and two LLCs.
Smart man!
Can you setup a consulting with me...this is amazing but have no idea how to do this
Ive been following you for all 3 years and you are the GOAT in my book..!! 🤍
Good stuff! Can a series LLC have LLC's that are located outside of the state it is originated in?
How may a get a consulting call??
Hey Karlton , really nice video ! I was wondering if I could help you with more Quality Editing in your videos , make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?
Do you need to foreign file your Wyoming Holding Company that has real estate companies for tax purposes since your income is from several states?
So it sounds like a Wyoming LLC is Vanderwall Nevada LLC. Am I getting this correct? So, you pay taxes in each state?
So how can your C Corp have a fiscal year end?
Hey @Karlton Dennis! What if my company gets a loan from my wife for 1mill... and if anyone ever tied to sue me I'd owe my wife the 1mil first correct?
Clutch 🎯
🔥🔥🔥🔥🔥
How much do you charge to set this up
🔥 🔥 🔥
🔥💯
Please do your own research, half of this is pointless and does nothing for your taxes. He failed to mention the distinction between legal entity choice and entity tax elections
🦾💯💙🫡
Music is so annoying, and I can't focus on your talk. Informative videos should have no any annoying voices over or in the background or nearby, sadly cant watch this video
If you are letting music get in the way of serious tax savings then you would continue to paying them. Just saying..
@@016og lol
Hi @karltondennis ! The ShareSale link doesn't work. Great Info!