Avoid These MISTAKES BEFORE Starting an LLC!
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ebook.taxalchemy.com?Certified Enrolled Agent Karlton Dennis has seen everything in the game, using his knowledge to take advantage of his tax-return every year to write-off some quite luxurious items. The thing is, ANYBODY can do this! How? Find out on today's Taxes Made Simple!
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*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
#taxes #taxfreeliving #taxexpert #taxreduction #llc
Пікірлер: 1 900
This should really be taught on schools but aren't ! Avoiding these mistakes will save us time and money, i'm too currently setting up my llc on LegalMake. Thank you.
@grahamhemmings6571
Жыл бұрын
Education systems in America are and were then designed and modified by Rockefeller in the early 1900's to educate people on how to get a job for someone else's business, not to be successful entrepreneurs themselves. That has never changed in over 100 years since then, and therein lies the problem. It was never meant for anyone else to become successful business owners, that's not what the education system was designed for. Today, the majority of massively successful business owners are college dropouts, or less even. With the rare exception of them being a college graduate of a bachelor's or higher degree program, which teaches them how to be exceptional employees for someone else. Unfortunately, that knowledge doesn't necessarily transfer over into economic wisdom and it certainly doesn't reveal the economic needs of a current market from a business perspective that enables entrepreneurs to be successful. It really takes a personal choice and dedication to decide on purpose to play the leadership role of a business owner, as opposed to taking the easy route of remaining an employee for someone else, and I'm afraid the system was designed that way from the beginning to a large degree. The beautiful thing about the system is, if you want to be a successful business owner, you can be.
@adamwienckowski146
Жыл бұрын
*isn’t. I know that was taught in school
@dca4840
Жыл бұрын
@@adamwienckowski146 grammar is. 😆
@LetsPlayArcanium
Жыл бұрын
I mean there is business school in college lol, you can’t really teach this sorta stuff to teenagers
@OckdaGod1
Жыл бұрын
@graham said perfectly
My man is a legend. I have a computer engineering degree, understanding isn’t my issue, it’s finding condensed, straight to the point, factual information, that isn’t hidden behind a paywall. If I could hire you in NJ, I would.
This genuinely was one of the most concise, well-edited, educational videos that I've seen on this subject. Truly, thank you.
@LoveFirstYou
Жыл бұрын
Agreed!
@NSUScooter
Жыл бұрын
I came into these comments to say the exact same thing. He’s tackling so many things that I’ve seen other coaches leave out completely, or describe it in a quick/gimmicky, shorthanded way making it harder to understand.
@tacotom3492
Жыл бұрын
@@NSUScooter it's definitely helpful and puts the "puzzle" together easier . 🍻✌️🤔
@opereightor
Жыл бұрын
Agreed. I feel empowered after watching this video!
@RioDinero_LasVegas
Жыл бұрын
I agree 100%
I'M OVER 50 YEARS OLD AND FEEL LIKE GOING TO SCHOOL WAS A BIG WASTE OF MY TIME NOW I HAVE TO PLAY CATCH UP TEACHING MY YOUNG MEN HOW THIS WORKS ANYWAY THIS IS IN ALL CAPS BECAUSE I'M READY TO GET STARTED NOW !
@amazingvivid6853
Ай бұрын
Hats off to you! It reminds me of its never too late to start anything you really wanna do.
My husband and I almost made one of the most common mistakes and tried to buy a house before starting an LLC. Thankfully we did our research and are now going to start an LLC first. Thank you!
The production quality and effort put into this video is truly admirable
Karlton - may I suggest you make *850 financial assessment* correlating this to the United States Credit Scoring System; you know, the system where an entire nation's people are enslaved by their government over systems exactly like this? We need people who have influence to bring to light these types of correlations to get people asking and thinking or we will see ourselves slip into a tyrannical nightmare.
Very detailed and comprehensive video! I appreciate that you took the time to go through the 1065 and K-1 usage for multiple members. You're a good teacher; you kept me engaged, showed us a little about your personal life and that smile you ended with is absolutely priceless. Joined, subscribed and looking for your other videos now! Thanks a bunch!
I made a lot of these mistakes when I put up my 1st llc. Now I’m starting over and putting things up the right way. Grateful that this popped up right when I needed it
Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *web* *invader* *net* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied
@lizzypapanastasiou6874
2 жыл бұрын
Karlton - may I suggest you make *WEB* *INVADER* correlating this to the United States Credit Scoring System; you know, the system where an entire nation's people are enslaved by their government over systems exactly like this? We need people who have influence to bring to light these types of correlations to get people asking and thinking or we will see ourselves slip into a tyrannical nightmare.
@lizzypapanastasiou6874
2 жыл бұрын
Karlton - may I suggest you make *WEB* *INVADER* correlating this to the United States Credit Scoring System; you know, the system where an entire nation's people are enslaved by their government over systems exactly like this? We need people who have influence to bring to light these types of correlations to get people asking and thinking or we will see ourselves slip into a tyrannical nightmare.
At 34 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I'm forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be payed off next month! 🥳 It's never too late to start saving like there's no tomorrow, and I'm really REALLY excited and motivated. Oh and Karlton, fyi my emergency fund is also a done deal! by *Linux Tech Corps* lol, i didn't made it myself
@holliewhite5127
2 жыл бұрын
Karlton - may I suggest you make *850 financial assessment* correlating this to the United States Credit Scoring System; you know, the system where an entire nation's people are enslaved by their government over systems exactly like this? We need people who have influence to bring to light these types of correlations to get people asking and thinking or we will see ourselves slip into a tyrannical nightmare.
@rodjasjohnson3700
2 жыл бұрын
00⁰
About to start my LLC and business journey and this video + your entire channel has been soo helpful. Love it, thank you.
I've been in business classes. Heck, I've ghostwritten a couple of articles about types of business filings, years back. But I've never seen these topics laid out so comprehensively & made so easy to understand! I'm an unhoused disabled returned-to-college student now, about to start a vending business specifically to serve & help my homeless peers, & I can tell this channel will be a really helpful resource that I'll be revisiting often. I'm so glad I stumbled across this video. Thanks for your fantastic work!
I'm starting a business for the first time and just wanted to thank you for investing your time in making these videos for other people to learn.
Hey Karlton ...thank you for this video! I watched it before making the move to set up my LLC. I am now 100% confident that the wisdom, knowledge, and experience that you shared have saved me time and money that I can't even calculate. You're commitment to "help others build wealth" is greatly appreciated good brotha!
I’m an enrolled agent in Los Angeles and just started my own practice, I found this video really helpful and straightforward, and I’m really grateful for your videos. Keep up the good work!
You're my LLC guru ❤ just filed today; long-held since 2014! Family needs came first but good fortune to come across your channel for the real advice at the right time. Also, love the great energy, I have to watch in bits, because I'm motivated - thank you!
In love with how thorough and simple you explain everything. Thank you
Preach Bruh! So happy I came across your video! During the pandemic I wanted to rebuild my credit so bad and have a new life by the end of this year that would benefit me , my family and my business I opened during the pandemic! I paid someone over $1000 to rebuild my credit and they started the process but ghosted me! I started doing my own research and Linux Tech Corps popped up on KZread ! I’m now building my own credit back up and I have 3 medical collection’s account to take care of and thanks to you , I know I can handle those! *Linux Tech Corps* were so useful and You’re such a blessing!
@kevinmiller3584
2 жыл бұрын
When trying to get late payments removed on an active account, if it cannot be verified by the bureaus, do they remove that late payment and show on time payment for that month, show no information available for that month, or delete that account off the credit report? I want to get my late payment history corrected but not sure how disputing with the credit bureaus affects the active account if they cannot verify the information to be accurate, I wouldn't have been able to take them off if not me meeting *Linux Tech Corps* ..
@guycar1012
2 жыл бұрын
VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but 850 FINANCIAL ASSESSMENT info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well
Bro! This is gold! You answered all my questions. You helped me with my LLC and guided me in the right direction for tax purposes! I really appreciate your work. Thank you!
Wow! No one has ever broken it down like this. I've been in business for a few years but learned so much from this video. Thank you!
Wow! Feels like I just got schooled and I’m loving it. I’ll have to rewatch this several times to grasp all the details, but this info is clearly important and helpful. New Subscriber! Thanks!
My new favorite KZread adviser. Thank you for your willingness to genuinely educate. Peace and blessings King
Thank you so much for this information. I started a new business a year ago and I’m now in the second phase of this business which is applying for an LLC & EIN. The fear is great bc I have no prior knowledge about that side of a business. Thank you easing my fears with this simple explanation of something I know nothing about. I’ll be checking out the rest of your videos while doing some research of my own. I can’t thank you enough for this amazing breakdown. I really appreciate it!
Future Black Business Owner This is was Very Informative
This brother is on point. Clear Concise and Highly relevant for small business owners. Great info Karlton. You should have a ton of clients with your knowledge. Keep sharing and enlightening our people Peace and blessings
@espianmashias9565
10 ай бұрын
People like him deserve many blessings from our almighty creator.♥️♥️♥️👍🏼💯🙏
This video is packed full of information. I’m guilty of starting an LLC and not going all the way. This is extremely helpful. Keep up the good work.
I can hear you speak all day. Thank you for all of your info and time.
You are the best at explaining everything I need to know about setting up my business thanks.
For #2, if you can use business credit to take out the mortgage and have to do so as a personal debt, most mortgage companies won't let you put the LLC on the title, even if you have it set up prior purchasing the rental. For those real estate investors using personal/residential financing, some will do quit claim deeds (at their own risk) to transfer title to LLC as mortgage companies typically don't exercise calling the mortgage due in full. However, they're still personally on hook for the mortgage.
Very grateful for content creators like yourself, I am working as a 1099 contractor and have started to research in prep to open my own LLC to help mitigate my profits and loses. Thanks for all the help!
I appreciate the vernacular, speech, and detailed information organized in the fashion it is. Very clear enunciation and intonation allowing for expression without distracting from the information presented.
I am so enjoying these lessons. I’m so glad I subscribed. Why don’t we learn this in school at a young age when we’re sponges 🤦🏽♂️Geesh! Well, I’m here to stay now. Keep up the good work my brother 🙏🏽🙂
This is just what I needed. Savvy business advice dripping in charisma 😄 Also, your production quality is great.
Love your videos brother, im a BBA in Marketing and constantly browse videos about these themes. Im so glad I found you man, and glas that my LLC is already established before getting the properties.
This is really good. Thank you! My husband has had his business for many years as sole prop but now is LLC including me as partial owner. This video and the prior one regarding including your spouse in your business, are each very helpful.
Great stuff! I'm finally jumping off the ledge to do my own thing and this video is helping point me in the right direction! Thank you for the info! I just hit the Subscribe button!
I have an LLC and I have no idea what I’m doing with it 😭 so thank you for educating 🙌🏾
@anthonyelizondo8242
2 жыл бұрын
😂me too bro lol
@melissajackson1007
2 жыл бұрын
Same LOL
@stevestokes1963
2 жыл бұрын
E
@williegarrett7587
2 жыл бұрын
😂
@naana-scelyne6370
2 жыл бұрын
Me to lol 😂
I usually don’t sit this long and watch videos like this none of us do until the information is needed and All this info was so helpful thank you for sharing
Thanks Karlton, for all you are giving back-that's why you are so blessed!
Wow I love how you explained this LLC thank you so much learned a ton. Wish I knew this back in 2004 when I started a business from scratch . Gonna try business again and want to do it correctly this time thank you for all of the tips.❤
When trying to get late payments removed on an active account, if it cannot be verified by the bureaus, do they remove that late payment and show on time payment for that month, show no information available for that month, or delete that account off the credit report? I want to get my late payment history corrected but not sure how disputing with the credit bureaus affects the active account if they cannot verify the information to be accurate, I wouldn't have been able to take them off if not me meeting *Linux Tech Corps*
@nosicamathurin7245
2 жыл бұрын
Thank you for the video! I have had a passion for credit repair for a long time and I’ve helped a couple of people. I’ve even thought about starting my own business. Listening to you and seeing your passion has lit a 🔥 in me and learning from and using *Linux Tech Corps* . I have watched this video a few times just as motivation. I call it my “Victory Lap” video because you are spreading Nips message by following it! Thank you and keep pushing! Proud of you! .. ..
You’re video pop up on my feed because I was only trying to see how to get a rental with no money down. And after watching your video now I’m thankful for you and motivated to get an LLC business account. Thank you so much you’re a god sent angel 🙏🏻🙏🏻🙏🏻
This definitely help me appreciate you sharing your knowledge king!!!!
You have just opened my eyes to a huge mystery!!! I am starting a firearms instruction business and looking for as much information as possible. Thank you for the knowledge
Awesome information. Please continue to share your wisdom.
Really well spoken, man. Appreciate the knowledge and helpful tips 🙌🏽
Thanks a million Karlton, excellent video very informative and powerful so many gems. I love this channel. So humble, kind and a good spirit.
Thank you soooooo much! You have provided answers that my CPA/Financial advisor hesitates to teach me. Knowledge is empowering and frees entrepreneurs from being held hostage by those who are supplying services we are paying for. We must be more proactive in learning the basics to maintain control of our businesses. This information was needed and will be implemented immediately! Please continue guiding those who are being misguided. Thank you, again. 👏 🙂
Thank you for your time and knowledge
You drop value. Thank you for your videos
Getting ready to start an LLC ASAP after being educated by Karlton for my real estate ventures. Karlton has saved me so much stress!! Because as he says in this video, CPA’s don’t educate you nor does one typically know what forms to file. Karlton is fast tracking my retire plan, tenfold! Thank you Karlton!!🙏🏼
Very well explained....
Thank you, Karlton! Super helpful.
Appreciate the way you communicated these concepts that a very new to me. Thanks for the great resource!
Bro I’m so glad I found this channel! This content is gold!
@Boney4000
2 жыл бұрын
I have been losing my mind over this channel for about 2 weeks now. The most clear, concise, usable tax and business channel I've seen. KD is the truth...
@driveShelia
2 жыл бұрын
Thanks for watching!😊 Don't forget to hit the subscribe button! Text me on What sApp for more info and guardians🇱🇷❤️...
@driveShelia
2 жыл бұрын
Plus One six five seven two three four three eight six one:
This info was absolutely needed and appreciated. So many of my questions were answered and it was easy to understand and follow. Thank you!
Amazing explanation and delivery of complex information
Tysm for breaking it down very clear!
I need 1 of these guys on my team.... very knowledgeable & helpful!!! High schools REALLY NEED to teach our upcoming generation of students these type of courses!! As a parent, I would pay them to teach my kids these important lessons!!! Eveey1 should inspire to be an entrepreneur rather than an employee of someone else business!!
@2ndgenentertainment
2 жыл бұрын
yes but you also need to consider eventually, everyone owning a business means there’s no one to run said business in store.
@adventuresona700dollarhard5
2 жыл бұрын
Why don’t you just teach them? 🙄
@scottbennett8749
Жыл бұрын
Unfortunately the government dictates what the states teach in their schools and as you know with information it is liberating but it is also powerful, with more information comes more power, at that point you're no longer a sheep in the herd that the govt controls, you become competition
@_noigbdot
Жыл бұрын
They won’t and most of the teaches are in debt themselves how can they teach anyone about money
Clear and concise. Thank you brotha
@driveShelia
2 жыл бұрын
Plus One six five seven two three four three eight six one:
@driveShelia
2 жыл бұрын
Thanks for watching!😊 Don't forget to hit the subscribe button! Text me on What sApp for more info and guardians🇱🇷❤️.
My first foray into your channel and this was helpful as I’m setting up my LLC today. Thank you!!
Thank you for the information. Really well done.
Another great video Karlton! I really enjoy watching your videos, and have found them especially helpful since I have set up my own LLC this year. Keep up the good work!
@driveShelia
2 жыл бұрын
Thanks for watching!😊 Don't forget to hit the subscribe button! Text me on What sApp for more info and guardians🇱🇷❤️..
@driveShelia
2 жыл бұрын
Plus One six five seven two three four three eight six one:
This was very informative and will help me in starting my notary/signing agent business. Thanks for breaking things down.👏🏾👏🏾
@driveShelia
2 жыл бұрын
Thanks for watching!😊 Don't forget to hit the subscribe button! Text me on What sApp for more info and guardians🇱🇷❤️.
@driveShelia
2 жыл бұрын
Plus One six five seven two three four three eight six one:
This video made me stop and pay more careful attention than many other LLC discussions I watched before. Thank you. Will re-watch this and take in your other videos as well. I appreciate this greatly
I am so happy I found your video! Loved it
always appreciate those taking the time to share their knowledge... thank you, brother. subscribed
I'm elated that I came across your page. Very informative, and I am more than ready to apply these directives! Thank you!
Thank you Karlton! Clear, concise, and well articulated! I appreciate you boss!
$1000 dollars worth of game in exchange for a like? ...you're a God send, Sir.
Love your content, KD! Keep it going, you’re inspiring folks!
Love the sound of your voice, it makes me listen better. I love that you jumped right in and got pretty much straight to the point. This video was extremely informative. I am just starting to learn about all this beautiful business savvy stuff. Love it need more! I subscribed!
This is amazing. Been diving in and learning a lot of business shit recently but your video has been the most helpful
I’m typically a silent KZread university student but I wanted to thank you for this information. Your passion and detail is something you don’t get too much when looking for these types of things online. I felt like I paid you for this 😭
@JaytheFreeOne
Жыл бұрын
Exactly me too, let's scale these businesses goddess 👑
@JaytheFreeOne
10 ай бұрын
I'd love to connect do you have an IG?
@davidcaballero2740
7 ай бұрын
@jaythedivineone 😂😂😂😂😂 my man
Will you go more in detail about what an accountable plan looks like and what rules we have to follow in order to be reimbursed correctly for business purchases? Love your videos!!
@chriseastwood-cw3fn
Жыл бұрын
Yes! How do we do that??
@romievaskiss
Жыл бұрын
I'm interested as well
Great source of information, thanks!!!!!
This is good information. Straightforward and eloquent
This is why I am still on the fence about starting a business-the TAXES! I don’t want to mess it up. I’ve gotten so comfortable being a company worker and them doing all of that for me. I just get my W2 in January and take it to H&R Block. Done.
@chickencombo391
Жыл бұрын
Tighten up and get right Diplomat or keep working for someone
@diplomat2623
Жыл бұрын
@@chickencombo391 💯💯💯
@sweetjamesjones2440
3 ай бұрын
Look for a CPA to handle your taxes they will do bookkeeping ,taxes even represent you in court for tax purposes they not cheap but they are better then an accountant and a bookkeeper
WOW! This is the most valuable page in my KZread profile. I don’t subscribe a lot, I don’t like a lot and I have never commented on any video. But my guy is changing the game for EVERYONE! I greatly appreciate your content my brotha! You are teaching young entrepreneurs like myself how to be successful! How to leverage the game in our favor for success! You have found your passion and God put you on this Earth to do this. My God continue to bless you and your family for everything you do. I look forward to working with you in the future! ✊🏾
@driveShelia
2 жыл бұрын
Thanks for watching!😊 Don't forget to hit the subscribe button! Text me on What sApp for more info and guardians🇱🇷❤️.
@driveShelia
2 жыл бұрын
Plus One six five seven two three four three eight six one:
made it simple to understand ,needed that
I needed this. Thank you
The audio is improving! Content is fire!
@driveShelia
2 жыл бұрын
Thanks for watching!😊 Don't forget to hit the subscribe button! Text me on What sApp for more info and guardians🇱🇷❤️
@driveShelia
2 жыл бұрын
Plus One six five seven two three four three eight six one:
I have 2 chapter 13’s that are dismissed. The reason I have 2 is bcz I did not use an attorney. I was trying to stop an eviction, but when I went to try to add another month’s rent to the bankruptcy, but the guy filed another one. About a month later, I ended up losing my job. They are scheduled to fall off in January and March 2021. Since I’m looking to purchase a home soon but still there. I am currently enrolled in *LINUX TECH CORPS* and I must say, I am loving it thus far. I’m doubling it up with your podcast videos and learning A LOT! Thank you. I’m ready to join the millionaire club!!!
@jurasicpark1911
2 жыл бұрын
At 34 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I'm forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be payed off next month! 🥳 It's never too late to start saving like there's no tomorrow, and I'm really REALLY excited and motivated. Oh and Karlton, fyi my emergency fund is also a done deal! by *Linux Tech Corps* lol, i didn't made it myself
@holliewhite5127
2 жыл бұрын
Karlton - may I suggest you make *850 financial assessment* correlating this to the United States Credit Scoring System; you know, the system where an entire nation's people are enslaved by their government over systems exactly like this? We need people who have influence to bring to light these types of correlations to get people asking and thinking or we will see ourselves slip into a tyrannical nightmare.
WONDERFUL!!! Straight and simple. Thanks very much
Love these videos. Helped me so much! Thank you!!!
This guy is really good 👍👍
@driveShelia
2 жыл бұрын
Thanks for watching!😊 Don't forget to hit the subscribe button! Text me on What sApp for more info and guardians🇱🇷❤️
@driveShelia
2 жыл бұрын
Plus One six five seven two three four three eight six one:
Preciate the information man you're amazing!
Happy I found you! You’re amazing. Thanks for all your help.
Thank you for the video! I have had a passion for credit repair for a long time and I’ve helped a couple of people. I’ve even thought about starting my own business. Listening to you and seeing your passion has lit a 🔥 in me and learning from and using *Linux Tech Corps* . I have watched this video a few times just as motivation. I call it my “Victory Lap” video because you are spreading Nips message by following it! Thank you and keep pushing! Proud of you! ..
@debbiepowell1451
2 жыл бұрын
Rescission and a Security Freeze are great tools to use, because it puts you in control of your privacy. Corporate control = involuntary servitude. I love this video!...Know your rights, exercise your rights and exercise them often. People only need to listen and learn. Actors use pseudonyms and get away with it, if we shorten our names they are called aliases. Via certified mail, i sent requests for a security freeze to 8 credit bureaus, I also opted out of 25 sites that store and sell my private info, like whitepages, spokeo etc. These corporations actually make us sitting ducks for identity theft, stalking and narcissistic abuse, and they do it for profit. Use *Linux tech corps* for charge offs and inquiries removal ..
keeping it 100 ima go watch an LLC for dummies video and come back lol
Man I literally get educated every time I watch your videos. Thank you for your time to teach us
This info is perfect! Thank you.
This was so informative! I’m wondering if you do another video to go more into the steps of reimbursing oneself for business expenses. Thank you!❤️
@karltondennis
2 жыл бұрын
Sure thing! I will work on a video that focuses on how to reimburse yourself through an accountable plan.
First of all, thank you. This was eye opening. Do you need different LLC if you are doing both lets say Airbnb Arbitage and Vending Business? Or can I just use the same LLC for both? Does that changes how I file my tax?
You have shown me my mistakes on my LLC that I just started a few months ago. All the things I never knew about is impressive.
I Appreciate the knowledge!
How much do you charge for your services?
Thank you for the video. Great content and Presentation
He stay dropping Gems
@karltondennis
2 жыл бұрын
More on the way!
@baboowee
2 жыл бұрын
@@karltondennis huge fan of yours , How can I get a consultation with you? I just opened my LLC planning on opening my next one within a week(have to do my trademark first)