1:41 YAY!...RINGWORM-FREE! lol

She's probably the happiest attorney I have ever seen.

Yesss!!! I was looking everywhere for this ! Perfect thank you!

So happy to have found your channel. I produce a lot of videos around taxes as a CPA, and now have a good place to refer people to learn more about entity structures.

I watched a bunch of other videos on "LLC vs S-Corp" so I already knew a lot about it, but your explanation and summary was spot on and made it even more clear! I also appreciate the comments you made about when it might NOT be advantageous to elect S-Corp status. Brilliant! Subscribed! (Oh, and I just called and talked to your assistant and told her to pass on to you what a good job you do on your youtube videos!) ;)

Hey! Love your videos. I’m glad you’re uploading again. Thanks for the info

Just discovered your videos, Aiden. You make these concepts so simple. Thanks!

This was very informative. I've been thinking about starting a business over the past year and I feel this video gave me a good start to doing my research. Thank you!

Thank you so much for making this Video. I have seen so many videos in the past couple weeks about an S corp, and this is by far the best Video and you fully explain it to the extent that I don’t have to look for any more videos to understand exactly how the S corp works. Thank you so much for a clear and informational video.

Yaaay so happy to see your new video. Hope to see some new video series

Hi Aiden, I just want to let you know that I been following you for a year and on my last video, I actually recommended your channel to my viewers with a link in the description. I get a lot of security and investigations company owners asking me about the LLC, Corp, Sole Prop, etc. I am not an attorney and find your channel very helpful for my audience. Thank you! Shaun

@allupinyobiz

4 жыл бұрын

That’s wonderful, thank you so much for all the support!! You rock 👊

You are awesome. Your information is extremely insightful. Thank you.

This video was so helpful! Thank you!

You really make this info so much easier to understand.

This was super helpful!!

So happy for your continued growth. I have been watching you for a while. I finally started my LLC and I pulled out my saved videos from All Up in Ya Business. I think it is time to bring back those "high tech" graphics

@allupinyobiz

4 жыл бұрын

This makes me so happy. 😀 You know, you're not the first person to request my sweet graphics...maybe it is time for them to make a comeback... Best of luck on your new business venture! You got this!!

@cgreeves1725

3 жыл бұрын

I understood everything! And that says a lot for someone who explains the process as she does. I’m going to watch more and more and more thank you!

Wow - so useful! Great job, and thank you!

Thank you for this explanation of an S Corporation and it has helped me make a choice! I appreciate the clear and concise way you teach!!

thanks for your explanation!!! it helps me a lot in my taxation class!!!

Great video! You explained that very well. Thanks!

That was an awesome video!! Thank you soooo much 👍👍👍

I love this ❤ Thank you.

Very thorough explanation. Thanks.

Great overview of S corp, big thanks...

Great explanation, very helpful and informative, enjoy your videos, Thanks..!

Thank you, very helpful.

Good Advice, Thanks.

Thank you Aiden. Very helpful.

I understand this. Thank you

Rocky: "My mom is crazy, shes always talking to herself in front of the light."

I love your videos! You make everything so easy to understand. Thank you for all your insight!

Lol When I needed to find you all I could remember is what you say is all up in your business and you pop up😍 Florida

@allupinyobiz

4 жыл бұрын

Perfect 😁

Thank you.

Thank you, thank you.. great video!

@allupinyobiz

4 жыл бұрын

You’re welcome! Thanks for watching .

Great presentation! You get right to the point an s Corp is not a business entity, it is a tax election. Why is it so many youtubers lead you to believe the s Corp is an actual Corp? They always have headlines "s corp vs c corp" which should you choose. Very misleading. I like how you come right out and say its only a tax election.

Great vid, thank you! Side note - Would love to hear your Drew Barrymore impersonation!

Thank you very much for the video Aiden - finally this is the information we are looking for -- this is our scenario - were about to start a business or buying an existing construction business, (assets only) and we probably do about 2M-3M gross a year - do you think S-corp is the way to go? or should we wait since the year is almost over - and START next year -- i'm already talking to my CPA but we have not finalized it yet. Again , thank you so much for the video !! and definitely try to join .. Mahalos a bunch !! Bubba

Awesome explanation of the 2!

@allupinyobiz

3 жыл бұрын

Thanks! 😄

Great information 👍

Hi Aidan, Ms. Colorado, I like your style thanks for the explanation.

Hi! What if someone is the only shareholder-owner of a closely-help C-corp which did not filed 1099-Div to the IRS, but the corp paid distributions to is only shareholder. Where does this shareholder report his dividends in form 1040? Thanks.

I got lost on the *180* vs *all up in your business* Need to catch up on some videos 😙

How do you not have 1,000,000 followers! Solid channel, Solid tips/advice

@allupinyobiz

3 жыл бұрын

🙌 thank yoouuuu!

Educational!

Can the person listed as a shareholder also be on the S corp payroll (NON LLC SCORP)?

I want to start a comic book company should i incorporate? Any help will help

For a two member LLC taxed as an s-corp in California, both owners would be employees. If both owners would be working on the field, would they need workers comp for themselves? Thanks again for your free informative videos beautiful.

@RunE076

4 жыл бұрын

No, you only need worker’s compensation if you hire others

HI Aiden. So other than saving on the self employment tax, are their any other tax savings associated with an S corp.? I ask because I also flip real estate in addition to being a real estate broker.

7:18 nice succinct summary

Great content, Aiden! I like to know what is the difference in using online service to setup a legal entity vs using an attorney to set it up. What do you recommend? Does these entities sectioned from region to national to international?

@excelcommando9824

4 жыл бұрын

Agreed, that's how I ended up here

LOL JUST KIDDING. BUT THE DUALITY OFF RING WORM VS LLC. YOUR AWESOME!!!

@allupinyobiz

4 жыл бұрын

🤣🤣

@stainlesslobster

4 жыл бұрын

@@allupinyobiz lol just kidding

@stainlesslobster

4 жыл бұрын

Of not off.😁

What happens if you have an llc as an s corp, but no longer want to work for your own business?

You’ve come so far. Very proud of your work. Continue striving to be great🙏🏽 Jesus is God!

Hey. So in your sec example, She is still paying taxes twice. You said S-corp avoids double taxation. I'm confused about this. Granted she still has 50,000 that as not taxed but still she is paying twice, especially if she is a single-member....right?

I think it's important to note how this pass-through can effect your health insurance? Like what if you're on Covered CA and your W-2 wages are low enough to qualify, you take no owner draw/distribution but the companies net income will show on your return so I wonder if the state considers this your income? Thus effecting health insurance you qualify for

@allupinyobiz

4 жыл бұрын

That is a REALLY great point, and it is definitely an important consideration. I don't know how it works in CA, but I believe most states would consider it income even if the owner doesn't take a distribution.

@ascendingwithalana

3 жыл бұрын

I would contact Covered California and see what they say.

Neighborhood great advice

Actually, reasonably speaking, you can file a 2553 even in October or even in November. If you get a response/approval before year end, IRS allows backdating. The reason to use for the 2553 is "Accountant forgot to send the request".

Hello, I’d love to set up a call with you How can I do that?

Question: 1) Im a 1-person s-corp. What is my title? I refer to myself as "managing member". Is this incorrect? 2) For my S-corp Form 2553 I put "100%" for "number of shares or percentage of ownership". The IRS accepted it. Some say my S-Corp is defective as I am required to issue stock. Is this true? How do I remedy this?

I just love her

Hi Aiden, Would you say for a single member LLC making between 80k and 100k should elect to be taxed as an S Corp?

@judithjoseph6569

4 жыл бұрын

That's my question

@MidwestBrotha

4 жыл бұрын

Yes....no better yet Hell yeah!!!!

I have to do this...😍😍😍🔥

She's so smart and fine too

So if I did an s Corp, and took this reasonable salary, and get taxed only on that. I can still take a member withdrawal, and get taxed how?

@allupinyobiz

4 жыл бұрын

That is still taxed at your ordinary income tax rate

There are a lot of inaccuracies here. The s corp would come to 38.5. Pass through and other taxes occur. And don't forget payroll and the $1200 fee for the filing form.

I was looking at this video. I was a little confused on the calculation for S corp. I dont understand why you included the %25% when its included in the 40.3% just above that. Why isnt the tax liability just $20.400?

@allupinyobiz

4 жыл бұрын

The point is that the income is split into two pots: 1) the reasonable salary, which in this example is taxed at 40.3% (25+15.3), and 2) member distributions, which is taxed at 25%. The 25% is included in the 40.3 for the salary. But the remainder is only taxed at 25% without the 15.3% self employment tax. (Again, plz remember that is not how tax brackets actually work. In reality, the math is different but the overall concept is the same.)

@toniaclark1431

4 жыл бұрын

@@allupinyobiz Thanks for the clarification.

Rocky?? What did you really do to the cats??? 🤣

@allupinyobiz

4 жыл бұрын

LOL!! Nooo, Rocky would never!

@DIANADARK76

3 жыл бұрын

What did you use to disinfect your house(ringworms)?

Great information but i am just curious how you got your lips like that?

@allupinyobiz

3 жыл бұрын

Nature. 🙂 And staying hydrated so they don't get chapped!

your super good looking..and smart

You said that you can't have a member that is an LLC taxed as an s-corp. I don't understand. If I'm a single member LLC, Doesn't that make me an LLC, and if I want to be taxed as an s-corp as that single-member LLC, you're saying I can't do that because I'm already an LLC??? OR are you saying that I can't have a company that is an LLC as a member?

0MG NOT RING WORM!!!!

Warning : NEVER TRUST your accountant that much. She could easily use an online platform that will do payroll and the whole nine for you without needing to consult with your accountant every single month. Who has time for that?? Bad advise @ 12:40

@allupinyobiz

4 жыл бұрын

Who said I consult with them every month? It’s one email exchange; inputting info into a payroll program myself would take a lot more time.

Would I have to give myself a w-2?

@allupinyobiz

4 жыл бұрын

Yes!

...how I long for the days when we had the luxury of worrying about minor inconveniences like ringworm...

@allupinyobiz

3 жыл бұрын

Tell me about it!! Aaah the good ol' days

Actual video starts after 2 minutes

Skip to 1:50.

Is it possible to reverse the S-Corp election? Wish I would have found your videos before I elected! lol

@allupinyobiz

3 жыл бұрын

Yes it is

Why does the US Gov make things so complicated, and in such ways which large businesses with top accountants can do so well and the rest of us either pay up, or suffer? Taxes should be fair and simple for all.

@allupinyobiz

2 жыл бұрын

I answered your question in my recent video! Check it out at kzread.info/dash/bejne/qGeYxsibnpitgqg.html.

@come_explore_with_me_IL

2 жыл бұрын

@@allupinyobiz Awesome thank you so much and I loved your answer!! You are probably the most fun to work with Lawyer and make these boring topics interesting! Just subbed you!

This was the burning question we all sought the answer to: kzread.info/dash/bejne/lXh219Wpfq_gis4.html. Great content that is endlessly helpful. Keep up the great work.

😘

After watching the entire video why do you assume that the person starting a business has to have a corp or llc? You don't mention that for many small businesses, no entity is necessary. The person can just operate as a sole proprietor with no complicated tax issues and no entity formation costs or state filing costs.

LLC’s and S corps are all the same why not explain something different like C Corporations aka Stock Corps

@allupinyobiz

4 жыл бұрын

They are very much NOT the same! I'm going to make some content on C Corps soon.

@JJbones88

4 жыл бұрын

LLC's don't have the reasonable salary requirement

@douglasharley2440

4 жыл бұрын

lol, clearly you haven't watched near enough "all up in yo business", because a more untrue comment has never been posted on youtube!...ever. there a HUGE differences between an LLC and an S-corp son.

@grittywuzhere

4 жыл бұрын

Why don't you just sit and learn, or move on? They are very much different.

@birdscapingindustries

4 жыл бұрын

Douglas Harley I watch 180 all the time dude!! I have a Have a C Corp Birdscaping Industries Inc. is her name... what I meant that is LLC’s and S corps are the same is a soul proprietorships Attachment 1040 C corps like mine is a real business total separation DUDE!!!

He is one in a million, best among many, most trusted , I almost gave up on trading then I met him through a friend, Austin is the most trusted trading expert who helped the life of my family and I ,.

@stormistory9473

3 жыл бұрын

-+/1/5/3/0/4/2/8/5/8/70/W/h/a/t/s/A/p/p/ / A/U/s/t/In/.

@julietkeily5306

3 жыл бұрын

Have tried to contact Austin from your investments his platform amazing teacher.