We LOVE feedback. So if you have any questions or suggestions, please comment!

@thestandberrys2519

3 жыл бұрын

I love the video!

@LYFEAccounting

3 жыл бұрын

@@thestandberrys2519 thanks

@moodybritish6870

2 жыл бұрын

I was motivated by u n a few other KZreadr to start a llc n my company is doin great I just don’t know about tax

@onemansjunk1252

2 жыл бұрын

I don't quite understand. At tax time , do I file taxes from my W2. Then file taxes for the business separately. Or does the business get filed on the same income tax as my w2. As a sole proprietorship. I file my w2 plus my business income plus deduction. Last year I had nol of 13k

@Yu_i770

9 ай бұрын

Can a Single Member LLC create a subsidiaries? Can it invest in a bank mutual funds?

Literally in an entrepreneurship degree program and having to do my own tax research because no classes actually cover it in detail. Thank you guys!

@mackenzietharpe9335

3 жыл бұрын

What are the classes like in the degree? What do y’all cover?

@LindseyRexxLove

3 жыл бұрын

@@mackenzietharpe9335 lots of marketing, management, accounting, organizational psychology, etc. We cover taxes in many classes but it's always a super brief overview. Maybe next semester's financial literacy class will cover it more in depth 🤞

@waurdhiewaurchei5473

2 жыл бұрын

Wow and they cost thousands of dollars

@firsttrademarkets7511

2 жыл бұрын

We are a consultant and business analyst, we trade on assets and commodities, index funds, Tesla, stocks , oil and gas and other financial markets. our trading platform is an award winning broker for 3 years now and we provide good trading signals for individuals and companies that are our investors, we’re expanding our markets across the globe and giving good offers to companies and individuals who are interested in buying stocks, cryptocurrency and investing with our platform.

@lundongooden

2 жыл бұрын

@@LindseyRexxLove you wasted your time and money, college does not teach you how to be an entrepreneur. Better using the Dummy books to get understanding and mentorships

Wow!!! I’m in love with this channel. You have saved me hours and hours of internet searches and research. Most of what you’re saying I have found out for myself but you CLARIFY it very simply. Very professional and to the point and easy to understand

@LYFEAccounting

3 жыл бұрын

Wow, thank you!

I am subscribed. You guys do an excellent job of presenting your content. It is easy to follow and your videos are simple and put together well. I followed your videos during the early stages of the pandemic. I had many challenges finding employment as my company let go 500 of us one month before the country/world went on lockdown. This didn't curb my families desire to eat, nor my mortgage company wanting their money, so I used my talent to form an L.L.C and started my business. Your videos helped me navigate some confusing territories. I THANK YOU SO MUCH.

Very good video! Explanation is so clear, and the info is so up to date!

I love the inclusion of the example of Mary the bakery owner. Both examples really helps the viewers to better understand the content about SMLLC!

@midshipsport

2 жыл бұрын

Yeah, but we still gotta pay taxes and their fees for filing is 500- to a 1000 USD :-)

Now when I get to your videos I hit like before the video starts to play. Y’all the best for dropping all this knowledge!

@LYFEAccounting

3 жыл бұрын

Thanks, Moe!! You the best.

I'm a tax proffesional and I'm always learning with you guys! Thanks you for the knowledge.

I just found your channel today, and I'm SO HAPPY I did!! Thank you thank you thank you for all the helpful info!

@LYFEAccounting

3 жыл бұрын

You are so welcome! Welcome to LYFE :)

Great video and I love the way you break it down to make it easy to understand!!!

@LYFEAccounting

3 жыл бұрын

Glad it was helpful!

I have listened to several tax videos, over the past three years. They were very ambiguous and, confusing. Even held back information. Which makes me waste my time watching. But, your videos are very encouraging, understandable, and informative. Thanks for being here.

Thanks for the information! Second video i watched from you guys! Definitely looking forward to more content!

@LYFEAccounting

3 жыл бұрын

No problem! Glad you enjoyed it 😀

By far the best video I watched on taxes, thank you

Thank you for putting together this video. It's very detailed and informative.

I truly appreciate all your help 🙏

This is the best LLC tax video, I ever saw.

This was so helpfully and to the point. Thank you so much!

Thanks a great deal for these videos. Very good explanation

Great information! Clear and concise. Thank you so much!

@LYFEAccounting

3 жыл бұрын

Glad you enjoyed it!

video was super helful i love you guys as soon as I get my paper up I will be hitting you up for my book keeping stuff.

Excellent, excellent, excellent!!! Keep it coming with the good stuff. Thank you Sean!!

@LYFEAccounting

2 жыл бұрын

Thanks, David. Will do!

Thank you so much for your content!!! Please continue to do more

Covered it all! (Subscribed) Thanks for the value

@LYFEAccounting

3 жыл бұрын

Thanks for subscribing! Hope we can continue to bring you value

This was so informative. Thank you!!

@LYFEAccounting

3 жыл бұрын

You are so welcome!

I’m in love with this channel. 😁

My go to site to understand my business needs, thank you guys so very much.

@LYFEAccounting

2 жыл бұрын

We thank you for your continued support.

Best resource ever!!,!

Thank you! Some great info in there. Much appreciated:).

@LYFEAccounting

2 жыл бұрын

Glad it was helpful! Do you own an LLC?

Great video, thanks!

Thanks guys!

Just subscribed. Thanks for the info

thank you very much for this, extremely helpful

@LYFEAccounting

3 жыл бұрын

You're very welcome!

Awesome, life saver!

This was great information!!! Thank you so much!

@LYFEAccounting

2 жыл бұрын

You are so welcome!

I have watched 3 videos in less than an hour , feeling a lot more comfortable with the thought that I can actually do this. Thank you

@LYFEAccounting

3 жыл бұрын

You got it!

gems!!! thank you.

Thank you for this video!! Learned alot?

@LYFEAccounting

3 жыл бұрын

Glad it was helpful!

Presentation on point bruh.

Great video Very simple and understandable explanation Thank you

@LYFEAccounting

3 жыл бұрын

Glad it was helpful!

Great info. thanks.

Thank you! This is very helpful.

@LYFEAccounting

2 жыл бұрын

You're very welcome!

New sub. Thanks so much for sharing. U are a blessing 💜💛

@LYFEAccounting

2 жыл бұрын

Thanks for subbing!

I’m so glad I’m came across your video, I was applying for an EIN and noticed the “disregard entity” and got nervous the terminology used seems a little discouraging, I feel better knowing more info through your video. TY TY TY 💜🙏🏾💪🏾

@LYFEAccounting

2 жыл бұрын

You are so welcome, thanks for sharing such a thoughtful comment! 💯

@JajuanBurton

2 жыл бұрын

yes there great!!

Super helpful. Thanks!

@LYFEAccounting

3 жыл бұрын

You're welcome! Thanks for watching.

Great video Sean. I tried to get in touch with the company but y’all are booked.

@LYFEAccounting

3 жыл бұрын

Thanks John, we'll be accepting clients again this summer

This info was helpful

You guys are doing a great job. I hope your channel and business takes off

@LYFEAccounting

3 жыл бұрын

Ryan that means so much, thank you! What do you do for work?

@NeuraPod

3 жыл бұрын

@@LYFEAccounting I'm starting a new company (will disclose more if we potentially work together in the future :)) and run this KZread channel: Neura Pod

@LYFEAccounting

3 жыл бұрын

Wow this super cool, I'm going to check out some of your vids too

Great video !! very Well made.

@LYFEAccounting

3 жыл бұрын

thank you so much :)

Great information and awesome presentation of the video!! Love this channel just discovered it, so professional, to the point and helpful!!! Smashing the Like and subscribe button!!

@LYFEAccounting

3 жыл бұрын

Wow, so much great feedback Val, it means so much :) thank you

@jaybee1930

2 жыл бұрын

Amen

Thanks LYFE Accounting - this is helpful. I just established my LLC and registered my business.

@LYFEAccounting

3 жыл бұрын

Awesome and congratulations!! 🍾🎊🎈🎉

Thanks Sean! 😊

Valuable video 🙏🏼😇

@LYFEAccounting

3 жыл бұрын

Thanks! Just curious, what did you find most valuable?

Helping a good friend out and the majority of my accounting experience is in auditing, so my knowledge of tax is not the best. This video made it extremely clear, glad we applied and received the EINs, and even more excited we don’t have to file extensions by March 15th since this flows to the personal. He’ll just have to file 2 schedule C’s, one for his addiction/mental health counseling service and the other for his general handyman business. Articles of org are filed but don’t believe a business plan is. How important is this, as I don’t foresee him seeking investors? This rocks and will be back for more!

Thanks for sharing 💪

@LYFEAccounting

2 жыл бұрын

No problem 👍 thanks for watching again

Thank you so much, YES I could use some help here.

Yalls channel is fire 🔥😍👌

@LYFEAccounting

3 жыл бұрын

If you know, you know!! lol Thanks.

Amazing content, getting ready to open my first business and your channel is an excellent resource. O can have a higher level of understanding before I hire out for this, Thank you

@LYFEAccounting

3 жыл бұрын

I appreciate that! What kind of business are you starting?

@domingoj

3 жыл бұрын

@@LYFEAccounting it will be a wellness service based business, we will be coupling localized cryotherapy with red light therapy to service our clients. Our focus will be on beauty, body sculpting and pain management. This our dream(my fiance and I) and your content is aiding in its manifestation!

GREAT information, I really needed it, and VERY HELPFUL! Please discuss the time frames to START doing business once the E.I.N. is attained?

Great information.

@LYFEAccounting

3 жыл бұрын

Glad it was helpful! What profession are you in?

Thank you

Thanks sooo much for these videos! Learning so much and subscribed right away. I have a question, I spent money on training and equipment In 2021, and just registered my LLC this month. I have not filed my 2021 taxes yet, can I include those expenses as write offs when I file for 2022 or does it have to all be spent in the calendar year? This might be addressed in another video but im making my way through 😅

Thanks

Very helpful

@LYFEAccounting

3 жыл бұрын

Glad it helped

Thank you !!!

@LYFEAccounting

2 жыл бұрын

You're welcome! thanks for commenting

Thank you! :)

@LYFEAccounting

2 жыл бұрын

Thank you!

This video is a game changer for me. Great and in-depth information. Thank you 1,000 times. I have a TD Ameritrade stock business which is not well doing and an e-commerce LLC both opened in 2021. I didn't make any sales on my online business LLC and my TD Ameritrade didn't profit either. How to file in 2022 tax season. Do I file them together with my other self-employment job or the TD Ameritrade stock and the online business LLC together. I spent a lot in my LLC set up my LLC. Thanks

Great information

@LYFEAccounting

3 жыл бұрын

Glad it was helpful!

Thank you for the video and the clarification. I bought a Townhouse and my job changed so i had to move to another state, so i moved in to a rental apt, I realized that i was paying my rent and mortgage at the same time and it was becoming to costly, i then decided to just rent my house after a year and a half of paying for both my rent and my mortgage. A few days ago i received an email from my tenant with this Form W-9 and and I don’t understand it’s purpose? Thank you

Your the man bro bout to kick this cleaning business off

@LYFEAccounting

3 жыл бұрын

I appreciate your comment bro, go out there and crush it!!

Look…… y’all do not play! I love it

@LYFEAccounting

2 жыл бұрын

We definitely do not play! Thanks for watching.

Wow great info! Should I obtain my EIN # after creating my LLC? Or do I need to fill out the tax forms first such as form 568 here in California?

Omg!!! I learned so much from this 1 video! This will be my first year submitting my business taxes and this was so helpful. I’m going to give it a shot, but if I find it overwhelming I will be in touch. Mahalo! Xo

You are a great speaker! Does single member LLC (rental real estate business) pay self employment tax too? If I own multiple rental LLCs, all with separate EINs. and bank accounts, do you recomment a different business credit cards for each? Thank you. Your site is super helpful.

Great Video!! What are self-employment taxes? And what/how do you do them?? I'm kind of confused about that part. Or Self-Employment taxes are nothing to worry about??

So, I am just outside Atlanta. I am starting my own LLC that will be something I do part-time.. evenings/weekends. I do not expect any revenue for 2021, but I'll certainly have startup and organizational costs. Even once I am open for business, I don't expect to make any more than someone working at McDonald's for the first year - as I build up the business, a portfolio, etc. I work full time and receive W2 income from that job, so that is going to be where I'm at 40 hours a week. Would love to talk to you guys - but I may be small potatoes here..

Canadian LLC but really appreciate this!!

Awesome video. I have a question I am confused about. I have already an LLC for my owner-operator truck business, can I use the same LLC for Amazon online selling? Because when you do the dropship model you need to apply for a reseller certificate. Is this legal to run 2 business models under one LLC? Please advise. Thanks a lot

good info. I'm new at this and have a question for you. I registered my LLC in June 2021. I have not sold anything last year but did buy some equipment, media, graphics, etc. Do I include those in my filing this year or no? Also my business address is different from my home address (making that separation). How would I account for that when I get to the schedule C?

Great video! Very informative!! Thank you. I created my LLC on 14th January 2021 in Delaware, I just did few sales in these last months, so can I ask you when I have to present the forms to IRS? This year or next?

@LYFEAccounting

3 жыл бұрын

Glad it was helpful! You would need to file taxes for your business next year

Just to confirm, do you know if a sole prop with a dba can keep the same ein when changing to a single member llc?

very helpful. Couldn't fins the link in fliling EIN though.

Was so interesting your video!! Could you tell me if I opened a LLC and I have not starting to work yet, do I have a z problem with IRS if I do not working for a long time?? Thank you!!!

I'm currently going through a revamp with my business and am now a published author. What would be the best structure for this type of business in order to get the best tax benefits?

Glad I came across this. I started my online business mid of last year and have tons of expenses with set up and marketing expenses but I never had one single sale. Can I still file for Sched C? Thanks.

@LYFEAccounting

3 жыл бұрын

Yes you should! Report any loss you had to lower your other taxable income

Y’all are great man 🤝 Do y’all have a video on how to pay yourself as a employee in a small business

@LYFEAccounting

3 жыл бұрын

Yes we do!

@LYFEAccounting

3 жыл бұрын

Check it out here: kzread.info/dash/bejne/mYRo0c-Ch6_HhNI.html

Congratulation for your videos. Which is the taxation of a SMLLC foreign non-resident owner, that does online business (online courses) outside the U.S. ? Thanks.

So question I filled out everything on legalzoom for my LLC got it all approved. Now I'm trying to set up my business bank account but it says I need the articles of organization. When I go to file it says I already have one do you know how I can get a copy to put into my bank for my business registration. Sorry it's my first time every doing this and I'm learning.

Great video, but I got a question as a newbie. Does the single member LLC apply to a married couple? We have a couple of rentals and we're trying to protect our personal assets through a series LLC.

like your video

QUESTION… I used to do my single LLC taxes with an accounting firm. When I did them with them they had me use adp to pay myself and I would get w2 and report this as a regular job and then do my business tax return separately. I’m confused. Now I want to stop paying them and do them to do my tax returns and stop paying adp and just pay myself as self employed. I don’t have to do a business return anymore correct? I just do self employed return with schedule c etc and that is all?

Question: Can you make your kids members of your LLC? And do all members have the same “powers”? Equally split profits? I’d love to legally include some family members in my business

Hey! Thanks so much for your videos! I'm learning so much! Do you have any help on doing crypto taxes as well?

My operating agreement will detail information for adding members.

In a Single Member LLC that is used for the sole purpose of holding a broker account and as such your income is made up of capital gains and losses, do you bypass the schedule c and go straight to the schedule D?

Thank you so much for this information. Please can you help me out with this Question. I already applied for an LLC for my company I will be starting soon, although I used my home address for this I intent to change it. The next is step for me to do is apply for an EIN,. Now the property for my Business will be ready in a month. My Question is do I wait to acquire the property to apply for my EIN with this address or can I go ahead and apply for my EIN with my home address which is same with my LLC. Thank you for your time.

As a single member LLC which will apply to the IRS to be considered as an S-Corp, is there any benefit to listing myself as a "MEMBER managed" LLC vs a "MANAGER managed" LLC in my OPERATING AGREEMENT?

Hi Shawn - Fantastic video and great work you guys are doing! I have a single member llc in Wyoming but I, as the single member, am a Non-Resident Alien (I’m a UK citizen citizen and resident). Should I submit my US clients with a W-9 or a W-8BEN form? Thanks!

@clarissaspeaks2582

2 жыл бұрын

W9

I just started my LLC biz in 2021 due to the CA $800 fee being waived for this year. If I haven’t made any income from the business yet and it’s time to file, will I be taxed on my current job income if so what’s the percentage?

I really appreciate the video. I created my single member LLC in October 2020. I didn’t have any revenue in 2020, but I did pay state business privilege taxes. How do I report that on my taxes with using a schedule C form?

@LYFEAccounting

3 жыл бұрын

You should add it to schedule as a registration or license fee

Thank you for this information!! It is so easy to understand!! I do have a question, is there a cap to how much expenses on SMLLC can write off? for example Mary with the bakery only had 10,000 to write off... Could that have been 30,000.00 expenses and only be taxed 10,000?

@LYFEAccounting

2 жыл бұрын

There is no limit on how many expenses you can write off! The expense just needs to be a necessary and ordinary expense for the SMLLC