How to Save Money on Taxes with an LLC

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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.
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Looking for the best tax benefits with an LLC? Can you save money on taxes with an LLC? Let's find out...
Here's are some tax deduction tips that can help you save you massive amounts of money on your taxes and stay on top of your business finances.
In this video we discuss: How to Save Money on Taxes - LLC Tax Benefits
Watch this video until the end to avoid overpaying Uncle Sam and to start making the most out of your real estate business!
*Disclaimer: I am not a financial advisor nor am I an attorney. I am a licensed Enrolled Agent. 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.
*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.

Пікірлер: 260

  • @samuelbrown3326
    @samuelbrown3326Ай бұрын

    how hasn’t video hit 1 million views is beyond me. Best tax video i’ve watched since starting my llc

  • @dlrowadkcuf

    @dlrowadkcuf

    Ай бұрын

    🎯

  • @phuong2088

    @phuong2088

    7 күн бұрын

    P

  • @fnKILLJOY
    @fnKILLJOY Жыл бұрын

    If we could somehow get all of our children to be as absolutely enchanting , handsome , driven & thoughtful as Karlton fn ACHIEVEMENTS UNLOCKED level up humanity!

  • @K9HandlerPro

    @K9HandlerPro

    6 ай бұрын

    I was just thinking this when I saw your comment! Awesome young man.

  • @Fitchett2012
    @Fitchett2012 Жыл бұрын

    I’m not a business owner, but I’m an ex-operations guy who just finished REG and filed for my CPA designation. That was an excellent breakdown. Thank you for taking the time put this video together.

  • @tlungu962

    @tlungu962

    Жыл бұрын

    was any of this taught during your studies w/REG? I have FAR & AUD finished, testing for BEC next. Saving REG for last

  • @chairfitcamp
    @chairfitcamp2 жыл бұрын

    Excellent video brother. Thank you

  • @JRUCOPILOT
    @JRUCOPILOT2 жыл бұрын

    YOU ARE AMAZING, AND YOUR INFORMATION HAS BEEN TREMENDOUSLY HELPFUL!!!

  • @DiamondbackDW406
    @DiamondbackDW406 Жыл бұрын

    Your channel has been super helpful with my new LLC! Thank you for all your content and knowledge you give us, made a world of difference in helping with the stress of taxes as a W2 employee and starting my own business!

  • @Sonika377
    @Sonika3779 ай бұрын

    Karlton! I have not stop listening to your valuable videos today ! I don't even have a business or LLC yet ...lol but what you say is clearing my mind and preparing me going with a better understanding of taxes responsabilities. I also can ask my account better questions to understand my personal situation..Thank you !Greetings from Fort Lauderdale, FL

  • @huypham9458
    @huypham9458 Жыл бұрын

    Thank you for all your videos ! I just open a Resturant and it’s been a roller coaster trying to keep up ! I still have trouble with the payroll and paying myself

  • @MC-zz2un
    @MC-zz2un Жыл бұрын

    Thank you. Just started a small art business and I’m learning so much!

  • @orizappa1577
    @orizappa1577 Жыл бұрын

    wow you are so awesome, i.m so happy to listen to you. Thank you so much for sharing your information.. i already followed so many of your advises. i just want to tell you how grateful i am.

  • @jpcubancuban1502
    @jpcubancuban15022 жыл бұрын

    Awesome video, just wrote down and learned so mush info, thank you for sharing, nice day

  • @badboy2lox
    @badboy2lox Жыл бұрын

    Karlton! dude I love your videos....my wife and I are Physician Assistants and started a business- I want you do be on our team! keep up the good work

  • @mindmythfilms1428
    @mindmythfilms1428 Жыл бұрын

    Thank you so much, I seen your whole video but will replay it again just to make sure I understood everything. I am about to do my LLC so i am trying to learn before I do so.

  • @marystephens1626
    @marystephens16269 ай бұрын

    this is the best explanation I have heard in years. Informative, classy and funny! Thanks so much!

  • @Bashanvibe
    @Bashanvibe Жыл бұрын

    As a working musician who works at home and on the road this is must need to know!!! I need to show this to my wife!!!

  • @DIVA-mi5go
    @DIVA-mi5go11 ай бұрын

    You so good at this. Thanks for the lectures.

  • @reneebrown5096
    @reneebrown50962 жыл бұрын

    I am so excited I came across this page. I am learning so much from you! I’ve been a Business owner for many years and did not know how much I didn’t know until listening to your videos. Thank you! How can I join your other groups for learning and more?

  • @ponleusoreyaa

    @ponleusoreyaa

    2 жыл бұрын

    I wonder if he replies to any questions or concerns. I have the same question.

  • @hawaiianjoe5587

    @hawaiianjoe5587

    Жыл бұрын

    You don't know, what you don't know.

  • @julyrosales
    @julyrosales2 жыл бұрын

    This information is gold !!!!

  • @miguelmontrell996
    @miguelmontrell9962 жыл бұрын

    Thanks Karlton, I appreciate you greatly!

  • @wowomg1032

    @wowomg1032

    Жыл бұрын

    He does not know what he is talking about

  • @dcnfsu2
    @dcnfsu2 Жыл бұрын

    This is solid info thanks!!

  • @magpiemoreno6304
    @magpiemoreno63042 жыл бұрын

    I’m excited to get started 🙏🏽😎

  • @ptrehabdoc8054
    @ptrehabdoc80544 ай бұрын

    You’re the first and only person I’ve ever subscribed to. Just subscribed. I just don’t want to miss out on this education. Wow.

  • @williambrown4357
    @williambrown43572 жыл бұрын

    Hello, just started catching you a couple of days ago. Glad I found you on youtube. Your information is absolutely great. But this Augusta room is wildly amazing. Never have I ever heard of it and I've been kind of paying attention to Texas for a couple of decades. Amazing, and thank you.

  • @wowomg1032

    @wowomg1032

    Жыл бұрын

    Catch someone else. He is full of shit

  • @williambrown4357

    @williambrown4357

    Жыл бұрын

    @@wowomg1032 😳

  • @wowomg1032

    @wowomg1032

    Жыл бұрын

    He is used business vocabulary without knowing what it means. This is an llc video right. Why is he talking about corporate things. BTW llc stand for limited liability companie not corporation

  • @jkp7096
    @jkp70962 жыл бұрын

    Great info. Thanks

  • @user-sc6bf7tw1z
    @user-sc6bf7tw1z Жыл бұрын

    Your my fav , you explain so well I wish I had that gift

  • @zacharywarner1678
    @zacharywarner16787 ай бұрын

    Awesome brotha, thankyou for ur time and effort

  • @DanielleBallou
    @DanielleBallou2 жыл бұрын

    I love your content!!! Thank you for the way you break it all down!

  • @w1nk66
    @w1nk662 жыл бұрын

    Awesome information and well described

  • @w1nk66

    @w1nk66

    2 жыл бұрын

    @Kárltón Dennis Reply ✅

  • @estebangarcia7057
    @estebangarcia7057 Жыл бұрын

    Straight to the point

  • @stephylee7967
    @stephylee79672 жыл бұрын

    Thank you for sharing your professional knowledge. Your smile is charming 😃

  • @Matas05
    @Matas05 Жыл бұрын

    Bro… you the truth. My personal zeitgeist. Keep it up! You have my support!

  • @PravolteLLC
    @PravolteLLC7 ай бұрын

    You give us hope brother!

  • @kazemmousavii
    @kazemmousavii Жыл бұрын

    Thanks for all information’s

  • @lynnporiumartdecor8348
    @lynnporiumartdecor8348 Жыл бұрын

    Great information! Question on Augusta Rule: what if I use my garage to store equipment and also purchased a shed placed on my property to store overflow food I use in my restaurants? I can rent those to my business?

  • @Justicex
    @Justicex2 жыл бұрын

    This is some good information.

  • @swetabhatt9012
    @swetabhatt90122 ай бұрын

    Appreciate the breakdown and explanation! Thank you!!

  • @luishondas
    @luishondas2 жыл бұрын

    Thanks very very helpful

  • @JenniferCollie
    @JenniferCollie Жыл бұрын

    Thanks!

  • @Nonsequitor415
    @Nonsequitor41511 ай бұрын

    Good and informative! 👍🏻

  • @BlackNilesecurity
    @BlackNilesecurity Жыл бұрын

    I clicked on your video because I noticed that you took a lot of time to set up your lights. If nobody tells you, I appreciate good cinematography and the fact you've taken time to avoid small things like a ring light showing up in your reflections

  • @blazetheengineer.230
    @blazetheengineer.2306 ай бұрын

    Thank God for your mother Karlton. Damn you are so smart! A real teacher!

  • @Attemptedvelocity
    @Attemptedvelocity Жыл бұрын

    I'm here to learn. Thanks

  • @laconsultant
    @laconsultant7 ай бұрын

    Not going to lie, I can see you put a lot of time into these videos. I'm very impressed.

  • @Jahguaar
    @Jahguaar2 жыл бұрын

    I am committed to self-development & thriving.

  • @magdyissa3339
    @magdyissa33397 ай бұрын

    Man! You're so good!

  • @cristianacosta3393
    @cristianacosta33932 жыл бұрын

    Question. How you tax a LLC multi member ?? Do you have a video explaining that? Thank you.

  • @Joe124100
    @Joe1241002 жыл бұрын

    Great video

  • @hanlinli4663
    @hanlinli46632 жыл бұрын

    Could you do a video on investment in opportunity zones to reduce tax ?

  • @spookybooscarystorytime
    @spookybooscarystorytime11 ай бұрын

    You're my new hero!

  • @d.e.brenner2930
    @d.e.brenner2930 Жыл бұрын

    Great vid.

  • @gladysroth7471
    @gladysroth74718 ай бұрын

    Thanks I'm learning

  • @Stayhydrated736
    @Stayhydrated736 Жыл бұрын

    I definitely need a new tax strategist! I ask my CPA questions all the time and never get anywhere.

  • @phoenixrising4031
    @phoenixrising40319 ай бұрын

    This is a fantastic video.

  • @jacobp9767
    @jacobp97672 жыл бұрын

    Super helpful

  • @aguirrerealty1
    @aguirrerealty12 жыл бұрын

    Can you make videos (LLC, S Corp, taxes, etc) for people who do ecommerce, for example Amazon Sellers? Thank!

  • @lmcritch
    @lmcritch Жыл бұрын

    Question about the Advanced Tax Strategy regarding Payroll. I thought LLC’s don’t pay the owner in payroll? We’re you mainly offering that strategy to the SCorp and CCorp owners? Thanks! Your videos are awesome! New subscriber.

  • @user-ig9jq1nx9q
    @user-ig9jq1nx9q5 ай бұрын

    Excellent!!

  • @mdivito11
    @mdivito11 Жыл бұрын

    You are the best Thank you

  • @9archer
    @9archer4 күн бұрын

    Thanks for sharing .Good info

  • @HWOWD
    @HWOWD Жыл бұрын

    so for example when you use depreciation on a property and you do a 1031 exchange does that also work against paying taxes for cost segregation savings

  • @janeljohnson5357
    @janeljohnson5357 Жыл бұрын

    Wondering if things like the Augusta rule and IRC 179 + bonus depreciation can be utilized by each owner of a multi member LLC (2 owners filing self employment taxes separately 50/50 ownership) ??

  • @samueliglesias9530
    @samueliglesias95307 ай бұрын

    God bless you and thank you

  • @monicacolegiosantamaria9573
    @monicacolegiosantamaria95735 ай бұрын

    You have so much valuable info!!!! How do estimate utilities in a home office? electricity?, internet? water? what about snakcs, coffee, water?

  • @dashermorgan
    @dashermorgan2 жыл бұрын

    Mr. Dennis, I need your help man. So, I created a fundrise account but when I read the "Prospectus" and subscriber agreement, it became a little intimidating. As a first-time investor the legal jargon a bit much. With all the information there in, you would need an advisor and legal representation to help you understand the information

  • @jeffteague4341
    @jeffteague43412 жыл бұрын

    As expected your LLC information is spot on. I as an individual pay very little taxes because of "The Tax Savers Club". They showed me how to not pay taxes legally by following the laws governing taxes outside of the IRS regs.

  • @sharikennybrew958
    @sharikennybrew9582 жыл бұрын

    Omg 😱 I just found you. Your a godsend

  • @ibless7349
    @ibless7349 Жыл бұрын

    Thank you 🙏

  • @_WhereAreWeNow
    @_WhereAreWeNow Жыл бұрын

    Thank you.

  • @jasonstieber2589
    @jasonstieber25893 ай бұрын

    Thank you

  • @isaiasherrera83
    @isaiasherrera83 Жыл бұрын

    Watching all your videos boss. From Oklahoma and have a construction company and need some help with taxes.

  • @keystohighfinancesandcredi1204
    @keystohighfinancesandcredi1204 Жыл бұрын

    Question…are these strategies for business owners who take deductions on a schedule c or for businesses that file forms 940/941 or both?

  • @ajwilson3446
    @ajwilson3446 Жыл бұрын

    Excellent thank you tax advice from your team how would one go about receiving this service

  • @with_lime_ginger_vodka
    @with_lime_ginger_vodka Жыл бұрын

    Do you have a video or can you talk about giving a personal loan to your own LLC, say for start up money for supplies?

  • @deancantave5233
    @deancantave5233Ай бұрын

    This is amazing information. I’m curious to know what you’re using to do this presentation? Do you mind sharing the pad and the software you’re using? Thank you Karlton!

  • @shannonduncan6548
    @shannonduncan65489 ай бұрын

    Man your videos are priceless... As a new LLC what kind of stuff as a website designer that also has a full time job what are the type of things besides computers and equipment plus programs subscriptions can I write off as a deduction.. Im really at this point just spending money to get my business off the ground.. Basically working for free building my business portfolio.. I have my EIN and a business bank account.. Can you point me to the best person to talk to going forward... Thanks in advance!!

  • @lechugaevencio6718
    @lechugaevencio67182 жыл бұрын

    Thanks 😊

  • @promiseokeh414
    @promiseokeh4142 ай бұрын

    Thanks for this vital information. What if you bought your car say 2 years before you started a business? Do you still get to write off anything?

  • @jeanlaventurejr4988
    @jeanlaventurejr49882 жыл бұрын

    What is the proper way to convert my primary property to a living trust and have an LLC manage it to be able to use deduct the home office deduction benefits. I currently work from home now, and want to get an LLC and just want to make that it is set correctly.

  • @ThePartyThieves
    @ThePartyThieves Жыл бұрын

    my wife and I own a business, we are thinking about doing an LLC but should we wait till the end of the year for tax purposes or do LLC immediately? We are a very small startup Balloon Art and creative studio. thank you for all your videos and content. You've helped out so so so much! thank you in advance for your time and value.

  • @ThePartyThieves

    @ThePartyThieves

    Жыл бұрын

    Also, with a business only making a couple $1,000 vs. $100,000 per year. Is it even necessary to think about an LLC?

  • @wowomg1032

    @wowomg1032

    Жыл бұрын

    Talk to a professional. He doesn't know what he is talking about

  • @AndrewHerrera-mo8rz
    @AndrewHerrera-mo8rz Жыл бұрын

    Question for you, the business equipment I used as a deduction for last year's return, can those same amount be used again as a deduction for the following year's tax return? For an example if I used $1,000 computer equipment deduction last year, can I use that same computer equipment deduction on my current tax return, or at a reduced value?

  • @johnw1479
    @johnw1479 Жыл бұрын

    For the Augusta Rule, wouldn’t you have to report income on the rent received on your personal tax return?

  • @holdster9620
    @holdster96202 жыл бұрын

    Hi Karlton, is it ideal to register your newly form business as an S-Corp even though you might not be profitable for the year; or later after you become profitable?

  • @jblack8867

    @jblack8867

    2 жыл бұрын

    Good question.

  • @bolamobolaji5870
    @bolamobolaji58702 жыл бұрын

    Can you help file tax and also provide advise as to what needs to be deducted? Jus started a LLC, working for my LLC and am still trying to figure out what I should be deducting at the end of the year. Is there any way to contact you?

  • @dorisborjontax
    @dorisborjontax9 ай бұрын

    Fair market value- interesting, thank you! I'm assuming the receipt would still be required- for proof :)

  • @amyvanderplow5690
    @amyvanderplow5690 Жыл бұрын

    When are you going to have another course?

  • @ahmedalishah2477
    @ahmedalishah24778 ай бұрын

    1. Is it necessary for me to make the purchase using my business account for car payments, insurance, gas, maintenance, or any other expenses? Or can I make the payment using any method and simply keep the receipt for my records? 2. If I purchased my car in November 2022 and registered my LLC in November 2023, am I eligible to write off my car or any other related expenses for the entire year of 2022, or can I only start claiming deductions from the day I registered my LLC?

  • @ThreePapaZeroXrayTwo
    @ThreePapaZeroXrayTwo2 жыл бұрын

    Hey Mr Dennis, thanks for the videos. Don't worry about making up words like "Googleable". All words were made up at some point in time.

  • @ErnestoMunoz2075
    @ErnestoMunoz20754 ай бұрын

    Awesome. 😃😃😃

  • @moiaussi3971
    @moiaussi3971 Жыл бұрын

    Karlton or community, if my CPA won’t counsel me on how best to itemize and profit from tax returns legally, not paying them, who is going to do it? ( besides you Karlton). Financial advisors??

  • @jseezyfosheezy
    @jseezyfosheezy2 жыл бұрын

    Sorry to be that guy: "Business", not "Buisness" Love the content, I appreciate the knowledge!

  • @cameronmanning8606
    @cameronmanning86062 жыл бұрын

    Sending this to a family member

  • @juanduran8156
    @juanduran81562 жыл бұрын

    Very, very, very informative. Did I say it very informative? 😆 👍🏾 💰

  • @user-vm5vn8ss7m
    @user-vm5vn8ss7m9 ай бұрын

    Thank God for you ❤

  • @michaeliiensing4023
    @michaeliiensing4023 Жыл бұрын

    If I have advertisements on my vehicle is 100% of the driving business now for marketing?

  • @randyh3094
    @randyh3094 Жыл бұрын

    Augusta rule! My question is can I use this rule on an office at my apartment complex?! Can my business write me personally a check monthly for this? I can't find answer on this

  • @SgtRedGames
    @SgtRedGames3 ай бұрын

    Would tools and equipment needed for a job fit in under the category of equipment write off?

  • @redeemed7920
    @redeemed7920 Жыл бұрын

    As an LLC/Scorp, I drive to my office with my vehicle (only a couple miles). Am I still allowed to deduct my car expenses?

  • @miguelsandremusic
    @miguelsandremusic10 ай бұрын

    Can I include my monthly subscriptions of my beatstore, virtual instruments that includes a monthly subscription to use them? I mean, I’m paying them in order to compose music for selling and submit for sync, which is technically part of my business.

  • @DavidHarveyWV1
    @DavidHarveyWV14 ай бұрын

    Even as great as you are breaking this down its making my head hurt lol especially when it comes to paying myself and pay taxes.

  • @ObstructionlightingTech
    @ObstructionlightingTech2 жыл бұрын

    You just made my day! My mind is blown away by the knowledge that you have on this topic.