How To Choose Your Business Structure & How Businesses Are Taxed

Learn how to choose the right business structure, by learning upfront the implications for how businesses are taxed!
Learn how to know which tax form a business should use.
If you are starting or have a business, watch this video to simplify business setup once an for all!
Get the Business Spreadsheet Template here: amandarussell.mba/getthebusinessspreadsheet

Пікірлер: 53

  • @KeithBlade
    @KeithBlade3 жыл бұрын

    You have a gift for conveying complex information in an easy to understand way, something many 'experts' on KZread can't accomplish. Thank you.

  • @aurora571000
    @aurora5710003 жыл бұрын

    I am supplementing my college business classes with your videos. Your explanations are much more clear than the textbooks 🤓

  • @susanbehme7518
    @susanbehme75184 жыл бұрын

    This is one of the best videos on KZread! You made complex information easy to understand. Thank you!

  • @yeok9891
    @yeok98913 жыл бұрын

    Great video. She just answered what I've been searching for in last 2 weeks. Thanks a lot!

  • @kakanyerodeogratious580
    @kakanyerodeogratious5803 жыл бұрын

    wow your really great i just watched one of your videos and i ended up watching almost all

  • @corynamagana7050
    @corynamagana70504 жыл бұрын

    Love your informative videos. You transmit a strong and supportive attitude and I appreciate the knowledge that you share.

  • @lcuzzo5337
    @lcuzzo53374 жыл бұрын

    Thank you so much! So helpful!

  • @karolsegovia1741
    @karolsegovia17414 жыл бұрын

    Thank for your video you make it easy to understand!!👍

  • @brianstevens1962
    @brianstevens19624 жыл бұрын

    Thanks for simplifying that for me great video. Great presentation, Great presenter, you can't pay for better information. Thanks

  • @waleedramadan998
    @waleedramadan9984 жыл бұрын

    Thank you Amanda your way in presentation awesome 100% understandable

  • @badboygolf
    @badboygolf5 жыл бұрын

    Great Video... Really appreciate all the advice.

  • @brianchill
    @brianchill4 жыл бұрын

    Great video sister! Thanks for sharing...and nice studio!!

  • @floroberts7531
    @floroberts75315 жыл бұрын

    Thank You! your explanation it helps me a lot......

  • @businessfinancecoach

    @businessfinancecoach

    4 жыл бұрын

    I'm so glad, thanks for letting me know Flo!

  • @LynnAldrichSigns
    @LynnAldrichSigns4 жыл бұрын

    This is a great summary of some basic key points I needed to understand so much more! Your Small Business MBA course was worth every penny!

  • @businessfinancecoach

    @businessfinancecoach

    4 жыл бұрын

    Thanks Lynn! PS..we are adding everyone from past groups to the new 2020 courses shortly!

  • @ladieesc0

    @ladieesc0

    4 жыл бұрын

    @@businessfinancecoach what course is this?

  • @businessfinancecoach

    @businessfinancecoach

    3 жыл бұрын

    @@ladieesc0 Hi Ama! sorry, I just saw your comment -- I have a bunch of E-courses now. You can check them out here: www.bizschool.coach/courses ... you can buy them all too - I called it a Small Business MBA! :)

  • @amilka14
    @amilka144 жыл бұрын

    I love you classes I love you video it I learn so much from you thank you amanda

  • @susel215
    @susel2153 жыл бұрын

    Very informative! Thank you!

  • @robertlugo8143
    @robertlugo81435 жыл бұрын

    Great Information and easy to understand, clarified allot for me. Thanks!

  • @businessfinancecoach

    @businessfinancecoach

    4 жыл бұрын

    You're welcome - thanks for your comment!

  • @TheAverageServant
    @TheAverageServant4 жыл бұрын

    Taking notes!! ✍🏿

  • @BirchsLawnCareLLC
    @BirchsLawnCareLLC5 жыл бұрын

    Thanks for another Great video!!

  • @businessfinancecoach

    @businessfinancecoach

    5 жыл бұрын

    Thanks for watching and commenting!!

  • @wellingtonarias1
    @wellingtonarias13 жыл бұрын

    Great content!!!

  • @JahDawtah8
    @JahDawtah84 жыл бұрын

    LOVE the Braddah IZ vibes

  • @jamimoore3197
    @jamimoore31974 жыл бұрын

    We have a S- Corp in Florida and its only my husband & I that are owners. Our accountant that has been doing this for over 30yrs said we do not have to file FUTA tax (reemployment tax) renamed from unemployment, since if we lost our business, the state isn't going to pay us unemployment, the IRS rep agreed and we have been doing this whole time we have been in business 2002. I am going to attempt to use a payroll company to do our payroll and tax/form submitted, will have to see they didn't understand why we weren't paying the FUTA tax when we get a w2 at end of year. What is your take on this?

  • @catherinebrooks5863
    @catherinebrooks58634 жыл бұрын

    Awesome video...wish I would have seen it a few months ago! My husband and I formed an LLC as a partnership in Nov of 2019, I quit my job and now work full-time on this business and will not take a salary as there is no profit (yet). My husband continues to work at his full-time job. Can we still file our taxes as a Qualified Joint Venture (tax type) with 2 schedule C's rather than a 1065 K-1?

  • @miraclelove991
    @miraclelove9915 жыл бұрын

    Hello, Your videos are great. But can you do one with combined incomes? Lots of people are working as employees with W-2's and have a small business(self-employed) on the side.

  • @businessfinancecoach

    @businessfinancecoach

    5 жыл бұрын

    Hi Miracle! Can you clarify what you mean? I would love to make a video for you :)

  • @candacespackdogrescue4485
    @candacespackdogrescue44853 жыл бұрын

    Great Video! just curious, what happens if a single member LLC person is married filing jointly? does that change anything?

  • @patiencedad
    @patiencedad5 жыл бұрын

    Aloha Amanda mahalos for the video

  • @thejismeisfamily9654
    @thejismeisfamily96544 жыл бұрын

    great video

  • @ibloocheese
    @ibloocheese4 жыл бұрын

    You’re good! :)

  • @xDGKRivas22x
    @xDGKRivas22x5 жыл бұрын

    If I would form a LLC with my brother for a trucking company can we choose to be taxed as a sole pro . or would we have to be taxed as a partnership? Or would we be better off registering our company as a general partnership and file taxes as a partnership? Thank You

  • @ShawnDietzer
    @ShawnDietzer5 жыл бұрын

    Excellent video. Could you please do a video on how to manage a Holding company? Advantages, disadvantages, how to move money between Holding and Operating company.

  • @businessfinancecoach

    @businessfinancecoach

    5 жыл бұрын

    Yes! Real quickly -- a holding company is just what you are saying the business is for (and you should be following that more than people sometimes do). It uses the same legal and tax business types that I explained in this video. It's not it's own type of business. So, in that regard, it's the same as I said in this video -- you want to keep everything separate from the owner and say two LLC businesses (1 a holding company and 1 an operating company). The most important thing is 1) following the states rules where the business operates, 2) keeping separate books and records and 3) no co-mingling of funds. I have been meaning to do a video on this. If you provide some more details about your specific situation/what you are thinking about doing, I'll answer your situation/question directly.

  • @cleiagrubb

    @cleiagrubb

    4 жыл бұрын

    @@businessfinancecoach I understood a husband and wife starting an Umbrella LLC would be considered a multi member LLC and default to be taxed as LLP Form 1065 schedule K1. If you are trying to stay anonymous on you Umbrella LLP, wouldn't a k1 disclose the names of the members? Is it possible to keep the holding company LLP anonymous? If so, How?

  • @antoniogonzalez-ji1ox
    @antoniogonzalez-ji1ox3 жыл бұрын

    Quick question what kind of tax form must be used if i have a Single Member LLC (only one owner) and at least one employee

  • @georgemenjivar3851
    @georgemenjivar38513 жыл бұрын

    I'm planning to do a partnership with my girlfriend for our business but I'm not sure if I should do general or llc? I've heard with LLC we would get taxed higher, is this true? Hope to hear from you soon!

  • @ichiulucero4396
    @ichiulucero43963 жыл бұрын

    How about LLC?

  • @waleedramadan998
    @waleedramadan9984 жыл бұрын

    Could you do lecture about practical software in individual and business tax I want to know how are software works !!??? Thank you

  • @businessfinancecoach

    @businessfinancecoach

    4 жыл бұрын

    Yes - I'm doing a Tax Act series for partnerships and s-corps, but they get a bit more complicated so I'll probably be doing a live workshop on that. There's a series on the software I recommend for individuals and SMLLC/self employed/contractor businesses (freetaxusa) and some on Turbotax (even though I don't recommend them:) kzread.info/head/PL6RQXhWqnQGH_TWMVgF4ba5ddEEIrHHL8

  • @ronaldhickman2189
    @ronaldhickman21894 жыл бұрын

    What happens if you have a LC and taxed as a partnership. Your partner is your spouse

  • @antoniogonzalez-ji1ox
    @antoniogonzalez-ji1ox3 жыл бұрын

    Hello the video comparing Self Employed vs S-Corp tax isn't available. Did you deleted that video?

  • @thejismeisfamily9654
    @thejismeisfamily96544 жыл бұрын

    congratulation

  • @herbydistribution3401
    @herbydistribution34014 жыл бұрын

    Question. So I formed my company, Herby Distribution in California in 2018, It is an eCommerce business I formed it as a DBA however I did get an EIN number as a sole proprietor on the IRS website. I My question is, considering I have about 20 companies that I will execute in due time one by one, I created a corp name called www.RestoringHumanityIncorporated.com I am wanting to establish that here in Oklahoma where I am currently at, After forming that officially, either an S.Corp or LLC, unsure, however after forming that, I would like to add my previous/current company as a subsadairy company under the Restoring Humanity, this is where I also would like to add the other business's when it is time. Do you have any advice or suggestions on how to go about this in the best way possible?

  • @terrykerger8559
    @terrykerger85595 жыл бұрын

    You are very good at what you do. Very intelligent. Will you marry me?💒

  • @businessfinancecoach

    @businessfinancecoach

    5 жыл бұрын

    **Laugh face**

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