THIS VIDEO IS EVERYTHING! EDUCATIONAL & ENTERTAINING!

Nobody wants to give away hard earned money -but since the law requir may as learn from this dude.He seems passionate and helpful

This dude cracks me up! haha. I love him. Wandering around the plumbing aisle at Home Depot for hours only to bring a bunch of parts home and jack something up is something most of us can relate to. Love the videos and the personality Mark. Thanks for sharing.

So glad I found you. Just read your book, Things your CPA isn't telling you and I'm digging into all your videos today. Super excited to learn how to set up things for my new rental business. Thanks for your enthusiasm!

That was awesome, thank you so much! OMG I’ve been browsing KZread for almost a week, literally, I’ve had so many questions about what you explained here, and no one really had the solid answer I was looking for, thank you thank you thank you!!! New fan and Subscribing 😎💪🏽💪🏽

@MarkJKohler

4 жыл бұрын

Yay! You made my day. Please feel free to share the video with whoever you think might also benefit from it. Thanks so much!!

An LLC is the legal structure of the company. An S-Corp is a tax entity that can reside upon different legal structures; a corporation, an LLC or a PLLC.

Btw I also Love how short the video is, you make us much easier and fast to understand your points. So thank you very much for doing such great video for us!!

I’ve learned so much from your KZread videos..thank you Mark!

@MarkJKohler

4 жыл бұрын

You're welcome Cameron! Thank you for watching my videos and being supportive.

First time here. You do come across as an honest guy. And your presentation is awesome. Thanks. I'm in a process to set up either LLC or S Corp. Will sure look you up once done watching all your videos. Thank you for an easy-to-understand video lesson!

@MarkJKohler

4 жыл бұрын

Fahad! At KKOS Lawyers we set-up LLC & S-Corps everyday! Give us a call at 888-801-0010 we can help set up an Entity that's right for you!

Very good! I like the fact that you’re so passionate about this topic.

@MarkJKohler

4 жыл бұрын

I appreciate that!

I have an appointment with you guys on Jan. 5th. Looking forward to it. Your videos are super helpful. Thank you.

Good info thanks it helped greatly

great video, thank you

very clear, get to the point, and passionate. I love your video. I wish I could've known you earlier.. T.T

Great Video!!!

Great info! Thank you for your information and passion. Just what I needed.

@MarkJKohler

3 жыл бұрын

Glad it was helpful!

God sent. Thank you so much for the info. You’ve got my business. Waiting for a call.

Thank you for this video

Glad I watched your video!

You have great enthusiasm and energy! 🙏

@MarkJKohler

3 жыл бұрын

Thank you!! 😁

INCREDIBLY HELPFUL!

Love the video and the personality. Nice work Mark!

@MarkJKohler

4 жыл бұрын

Thanks for watching! Glad you enjoyed it Aaron!

Subscribed! !!! Like you video it’s very informative 😊❤️ thank you

Can’t wait till you get to 100k subscribers. Surprised you arnt there yet. Your videos are gold, and your books saved me tons of money.

@MarkJKohler

4 жыл бұрын

Thanks Simon! Yes, I am excited about hitting 100k subscribers because it means I can help more people save money!

Good job MK crushing it, Been working with Lee he’s great.

@MarkJKohler

4 жыл бұрын

Thank you Albert!

So helpful, thank you so much!

@MarkJKohler

4 жыл бұрын

You're so welcome!! Please subscribe and share!!

I will make mark part of my "family bank" one day. Rockefeller way. Smart piece to have on your team. Great video 📹

Great stuff Atty MK!!!

Thanks for sharing, very good.

great video

You're a GodSend!! Thank You!

Wow, you are so good! I am thinking about setup a company and leaving my corporate job.

@MarkJKohler

4 жыл бұрын

You should! Plan it out and make sure it is set up correctly! If you want to set it up with my firm, email my youtube manager your contact information and we will have one of my New Client Specialist contact you about getting something set up with my amazing team! Her email is janae@markjkohler.com

*The only man on KZread worth listening too on LLCs and Corporations...period.!!!* _Can you show us how we should set up online store LLCs (Shopify, Big Commerce, etc.), with a Holding/ Operating Company Structure....I really only trust your information!!!_

@MarkJKohler

4 жыл бұрын

You flattered me man. Thank you! Feel free to contact my office 435-586-9366 and talk to my personal assistant Maria at extension 2012.

@MidwestBrotha

4 жыл бұрын

@@MarkJKohler Thank you!!!

Liked and subscribed going to buy the books I love the breakdown

I need to revisit trusts as we move.

This guy is one of professional CPA/KZreadr! wow.

Thank you, I got a lot out of this.

Thank you you so much for the information!

@MarkJKohler

3 жыл бұрын

You are so welcome!

Great content, Mark!

@MarkJKohler

3 жыл бұрын

Glad you enjoyed it

GREAT video!!! 👍👍👍

@MarkJKohler

4 жыл бұрын

Thank you Tina! Share and subscribe!

I love this guy!

Good video

Hello! Thank you for the video, it was quite helpful. Kindly advice, which business structure is best for import/export?

👍👍👍 Cool! Thanks a lot! I would like to watch more like this! Today i find your channel and already suscribe!💗

I am planning on starting an AIR BnB in Las Vegas in the future. I plan on doing business with this firm when the time comes.

The only problem with s corp status is that you need to file federal & state corp tax returns which means you pay additional accounting fees than filing a form 1040 Schedule C. Which is cheaper??? Accounting fees and and extra bookkeeping fees.

Hey Mark, question that might make a good video. I set up an LLC in the state of PA and the EIN was mistakenly registered as a sole prop with the Fed's. I didn't find out until I didn't hear back when we filed for Subchapter S this year and I spent two hours on the phone with the IRS and they told us about the issue. They said I had to get a new EIN and on my end basically re-launch the business with new bank accounts, payroll etc. Is there a way around having to create a completely new EIN and if I do should I start a new LLC from scratch or can the EIN be re-registered with the existing LLC. Sincerely, Sal

Amazing presentation.

@MarkJKohler

3 жыл бұрын

Thank you so much!!!

Great video

@MarkJKohler

4 жыл бұрын

Thank you Corona!

Great thank you

You are da man !

I think I need an appointment to discuss an LLC for estate (will) process, property etc. No bug hurry.

Hi Mark First Love Your Videos I Learn Soo much .. I Have A 2 Questions # 1 I started Doing Whole Saling Real Estate .. Have only made a Couple Of Thousands $ & being that we are going into November .. End of the year Should I Get A LLC Or S Corp? Next Year I Plan To Have Many More Deals & Make More Money & Move into having a Rental Or 2.. Again If I Get A S Corp I think the Self Em ployment Taxs will Not Benefit Me? #2 Question When Should I think of Getting A. S Corp With Whole Saling? Thanks For All Your Great Info Patti From Chicago

Hi Mark I have a question is it the same thing when you have llc taxed as an s corp vs llc transitioning to llc?

I love this guy...

@MarkJKohler

4 жыл бұрын

Thank you carol!

Hi Mark, love your videos and learning a ton. I am reading your Tax and Legal Play Book, great stuff. One question I have is, if you deed the rental property to an LLC which owned by a revocable family trust, would you still be able to get property depreciation on the personal tax return? I am getting property depreciated in 27.5 years now, but I don't know what happens after deeding a property to LLC? Would you share your thoughts on it?

@MarkJKohler

4 жыл бұрын

Don't worry. You ABSOLUTELY still get the write-offs for depreciation on your 1040 OR 1065, even if your RLT owns the interest. I am absolutely 100% confident in that answer. If you hear something else/different, PLEASE get a 2nd opinion or call my office. Thanks!!!

Thank awesome presentation.

@honsupplies8872

3 жыл бұрын

Thanks

@MarkJKohler

3 жыл бұрын

You are very welcome! I am glad you liked it!

@0:53 OPERATIONS (Ordinary income) vs. HOLDINGS (Passive income) @2:19 Primary Reason for S-Corp @3:43 FIRST reason to use LLC @7:00 SECOND reason to use LLC @8:36 THIRD reason to use LLC

@MidwestBrotha

4 жыл бұрын

💪🏽💯💯💯

Beautiful 😎

luv your info. I hope I can afford your service some day.

@MarkJKohler

4 жыл бұрын

My service is worth every penny, I promise!

You are a national treasure.

Best thing I did was pay attention the 2nd time around. The LLC is a multi-member LLC that produces K-1’s to each partner created by a 1065. Got it.

Mark to put your kids(under 18) on payroll without giving them W2, how you've talked about does it have to be an LLC or can Scorps do it too?

I have spoken to several reputable CPA's and they all told me that backdating an LLC into S corp can't be done.

When is it to late be back date s-corp. it’s October 5th 2022 and want to turn my LLC over by the end of the year? I am I too late?

So I can essentially create an LLC and place my stock accounts under it?

Tried to sign up for consultation

I currently have stock in AMC and I have a side gig doing organizing. I have someone doing a website for me right now and I want to get a business license. I know when I eventually cash out my stocks I’m going to need help making sure I don’t have to pay up the *ss in taxes. I think I’m going to definitely need guidance!

MARK PLEASE GET YOUR BOOKS ON AUDIBLE!

@MarkJKohler

4 жыл бұрын

Hi M Boychi I actually have all my books on audible. You should just be able to look up Mark J Kohler and audible, and it should be available with the audiobook!

Hello Mark. You have been my favorite TV show since I stumbled upon a video. Simply genius, funny, a good solid human being. I have one question when you say at the end “ The 2 S Corp.’s own it”. I’m glad I proofed SIRI and I am 105% sure I did not say “escorts own it”. That could’ve been a legal issue. Anyway, I understand this is all within the family and in essence whether you say LLC owns S Corp or S Corp owns LLC, legally, the LLC owns the S Corp or should The top circle state “LLC taxed as an S Corp.? I don’t see the value in that. Would it be multimember LLC? Thanks a lot sir.

1. where do i go to open a S-corp. 2. where do i go to start a business 3.do i need an SBA account? 4. it's common to not owe taxes on S-corp. but how do you do it? 5 What tax software do you need, or do i just open up the tax application and start the S-Corp thing with no prior experience.

So what would it look like if you and a partner owned many properties together? Say you owned 20 properties and had an LLC for each property and each LLC was owned by our scorps, would we have to do a business tax return on each LLC that owns a property together or could we somehow flow the money from the 20 different accounts where we would just file one business partnership return? Thank you!!

From LLC to SCorp what is considered (roughstimate) making enough money 2 change 2 scorp?

In the #3 scenario, would you use an s corp to partner in an llc that you plan to hire a manger to run for you in another state? That would mean more in taxes because of the salary you'd pay yourself right? Or would the new LLC be the s corp, the manager gets the w2 and your partner and you get the k1?

Hello Mark. It’s possible I have been looking at these diagrams incorrectly. Coming from a corporate environment in finance/accounting, I’m used to looking at diagrams from the top down. If that’s the case, is this the common way (bottom up) of looking at business structures? Thanks again.

@MarkJKohler

4 жыл бұрын

Fair point. Maybe it's 'tomato'/tomoto' :). But the reason why I like the bottom up, is because for the far far majority of small business owners (because they primarily use pass-thru entities), all the income flows 'down' into the 1040 or is owned by the Trust. I find most lay people to understand this concept more easily with water/money running downhill. But again, your point is certainly valid. I took my fair share of finance classes and work with many financially trained business owners (if I can say it that way)....so I know what you're saying. Thanks for the comment. mjk

If I opened an LLC but I want to get taxed as an S-corp, do I need to pay quarterly taxes if I am paying myself a salary and I am the owner and employee?

Have a car small used car dealership sales and service. 3 partners. Currently a s Corp. Any benefits to switching to llc.

Can you backdate a sole prop to be taxed as an LLC? I’m just barely starting my LLC but my income is increasing and taxes are going to be so High!

When you mention that YOU have ONE S-corp set up for yourself and then you are part of many different LLC's. If I have an S-corp for myself, and LLC for my small business, could I have my w2 employer my MY S-CORP instead of me personally??

@RalstigRacing

2 жыл бұрын

I believe you would need to get a 1099 from your employer. You would then be responsible for all of the taxes.

Paching!

Mark, I love you! You are so good!!! Love your videos!!! Through your videos I can tell you are such a passionate person, funny and also with a lot's of knowledge about LLC and S corp. I'm the person who doesn't even know how to pay tax, can you imagine how hard this will be for me to understand? But after your videos I think I can finally understand a bit. Now, I'm an very new Amazon seller, I'm thinking about to get LLC in Wyoming website first(I live in Chicago) and then get S Corp after I make more income, I just want to hear your opinions is this a good strategy? I wish I have more savings to hire one of your employee to do all these things for me.. Anyway please let me know your thought. Thank you very much!!

@MarkJKohler

3 жыл бұрын

Hey Nana! Thank you! You're too kind, I am glad you have been enjoying my content! It is hard for me to offer advice in a short KZread comment with little context on your situation, but we try really hard to make our services affordable for the everyday business owners. If you feel like you would benefit from a consult, email my assistant whitney@kkoslawyers.com and she can help answer some of your questions!

@nanal2931

3 жыл бұрын

@@MarkJKohler understand it. Thank you Mark. Will do it.

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?

What is the benefit of moving from and S Corporation to a single owner business?

Mark My father owns and had LLC’s and rental. He is spanish speaking. I was wondering if you have spanish speaking employee that could help my father understand, maintained, EDUCATE him on his business entities etc. I recently spoke to him about a living trust etc. He is 67 and he needs to plan ahead for the future. I would like the entire kitchen sink thrown at him, but in spanish. I believe he is not using his entities to his best advantage. He is very sharp but if someone could EDUCATE him in Español. It would be very helpful. I am very new and I dont know how to explain how he can take advantage of his entities etc. Can you help us out?

Should I consider an LLC or S-corp for a skincare/cosmetics line?

Nits to pick. LLC's or Corporation's are legal entity structures, organized pursuant to state laws.. S-Corp or C-Corp are tax treatment elections for Federal tax. "S-Corp" is not an entity, it is an election for tax treatment for either an LLC or a Corporation. I am a small business attorney (40 years in practice) and I spend way too much of my time explaining these differences to clients.

@Mark J Kohler What should someone do if they want to day trade crypto?

What would happen if you have more than one S-Corp? How would that effect taxes?

Will a truck driving job with a 1099 qualify for an S corp?

If you buy and sell stocks is that passive income?

I love this delivery!!! Whew hoo!!! Great job Mark

@MarkJKohler

3 жыл бұрын

Thanks, glad you like it!

Hi Mr. Kohler! Which business type is best for those who has multi brands, like a umbrella company? LLC? S-Corp? C-Corp? Corp? Inc? Thank you

@MarkJKohler

3 жыл бұрын

Hey Yaser, this is a really great question, but honestly is difficult to answer in a KZread comment, especially with such little background. Honestly, get in contact with my law firm, they will be able to help you and it will save you more money than it will cost, I promise! If you email my assistant whitney@kkoslawyers.com she will be able to connect you with someone who can help!

@Neptunus68

3 жыл бұрын

@@MarkJKohler I thank you my good Sir! I will get in contact with your firm for sure! Will i have the honor to have you as a attorney, I loved your energetic soul and i am actually honored and proud to say that your a amazing and awesome human being, we need more people like you in our societies!

What if I've already elected to be an S-Corp but I did not make enough profit this year (I know, shocker) for it to make sense at the end of the year?

I own a car dealership as single-member LLC. No employees. Should I convert to S Corp? If so, can I back date to Jan 2020?

@MarkJKohler

3 жыл бұрын

Really great question, you might want an S-corp depending on how much money you are making but, it depends, I don't have a lot of detail on your situation. I would recommend getting a consult on this, this is one of the biggest strategies to save you the most taxes. If you reach out to my assistant whitney@kkoslawyers.com she can connect you with someone who can help

Mark, at the 3:30 mark you say " my S-Corp owns NO ASSETS" However, at the 9:30 mark you begin to describe all of the other investments your S-Corp owns. Aren't all of these investments considered assets? Thank You in advane for your answer.

@blueraevin

4 жыл бұрын

I think he means it owns no assets that make money, aka rent, making money on its own. The assets he mentions are all equipment, like a computer, a desk, machinery and tools.

What state are you in?

Hi Mark I am Indian H1 visa holder. I bought a house at Texas can I transfer to the house to LLC. If I go back India can give to rent and show income in my country while retirement.

Its all about Trust Law. LLC and S Corps are for kids.

Not fully right though. This is only on the federal level. If your in nyc the city level tax outweighs the self employment savings

How do I get a consult with your firm?

@MarkJKohler

3 жыл бұрын

Email your contact information to my assistant whitney@kkoslawyers.com and she will get you connected with someone!