very well done mr. dennis, plain straightforward explanations that everyone can understand, not easy to do when it comes to taxes and corp structures!

I'm so glad you exist!! I was literally just about to KZread searche this, but this video showed in my feed right on time. Great information! Thank you!

VERY eloquent and great speaker you are Mr. Dennis... You made this learning video about LLC and S corp fun, interesting and easy to understand, where the other You tube videos made it so boring and difficult to decipher.. Congratulations to you and please never stop making these tax videos. You are so awesome!!!

I've just spent the last hour watching boring, worthless, or poorly executed videos....till I found YOURS. Wow! You explained it 10 times better, were 10 times more interesting, and gave very practical advice in easy to understand terms. Well done!!!! I'll be returning for more videos.

Thanks for this! I have all this inspiration and I'm trying to understand business. You're doing a great job!

Karlton, Looooved the video! The information was great, the video was easy to watch, animations were great and the comedic cut scenes will have me watching more of your videos. 🔥 Subscribed

These videos are very helpful and the way you use the graphics and break down the meaning of the tax codes help me understand it very well. It shows you really understand and know what you are talking about.

@lilywutexas

2 жыл бұрын

Love these videos, very informative and understandable 👍 👌 👏

Amazing video! This definitely answer all of my questions and concerns in trying to understand when to make the transition and benefits of s-corp! Just subscribed to see more.

Great information, Karlton! Thanks for this. I’m in my 2nd year with an S. Corp and looking forward to refining my tax strategy.

@unbelievable9750

2 жыл бұрын

If you need an accountant or tax strategist feel free to reach out. I’m located in the St Pete, FL area but can assist from anywhere. Good luck to you and your business 🤑

I luv what you do for us in the small business world. I also luv your presentation, very professional in my opinion.

This is my second video. Great information. Presentation is excellent!

Bro this video was 🔥 🔥🔥🔥so much free game def gotta tap in with u!! Keep up the great work !

Love your work buddy,! Thanks!

Thank you for sharing this information. I found it to be easily understandable and relatable to parts of my business.

Love the content. Thanks for bringing this information into the light.

Best explanation by far. Thanks for keeping it so simple.

Karlton--- this is the best information I have ever heard and thank you for teaching it so well....

Great info, I appreciate your channel!!!

I am a relatively new subscriber. Thank you. You bring great information, perspectives, and insights.

@karltondennis

3 жыл бұрын

Thank you James! 👊🏾

Gonna make sure this channel grows

Great content your videos are very educational and easy to follow. You deserve more subcribers. You should go live and do Q and A's to help your channel grow while you educate. Knowledge is power. Thanks for your videos.

Well explained, Thank you. Keep doing. All the best. And also please show me how to file the return as well.

Great video, commenting for the algorithm - more people should see this. Thank you!

@karltondennis

3 жыл бұрын

Thank you Jeremy! 🔥👊🏾

@frenchyalicea649

3 жыл бұрын

@@karltondennis ive been watching your vids to really try to educate myself on all of the shortcomings and blind spots I have not understanding how things work tax wise. I know in a previous vid you mentioned "you're not the person to talk to until thw taxes are done up to date." BUT, what if none of the taxes have been done at all, do you guys offee tax services which can assist in filing the taxes and while doing that "we can" draft up the best strategy (I guess) retroactively? Im genuinely interested in communicating with you and hope you read this comment. Please provide your email or contact info so that we can go into more detail. I lookf forward to communicating with you.

Amazing. Thank you for the great content

Wow 🤩 you killed it!!! So grateful 😇 for you thank you 🙏 for sharing your knowledge so we can create Financial literacy!! Congratulations 🎉🍾

Awesome information man!!

Thank You Great Brotha, this is awesome information!

this was a great video very informative

Man, you're good, thumbed up and subscribed!

Amazing video. I just created my s-corp and lcc. This video taught me so much. Thank you!

When you elect S Corp status for your clients, do you like at items such as 357(c), distributions in excess of basis analysis, and if it actually saves them money to do so? Due to the QBID and not getting to include those wages for QBI, that 20% can make a difference. Can also have implications if the business is a SSTB or not...

Thanks for the info! Currently LLC, planning to change to S. Corp. Never heard of the Augusta Rule, interesting! Thanks :)

Good stuff love the info

Your a legend! Thanks for the info, I will keep my eye on this channel into the future

Great explanations! Subbed

Excelling information. Thanks!

Great work Bro 👏 👍🏾 👌🏾 💪🏽

This was extremely informative and easily digestible for me. Thank you very much!

Useful video. Thank you 🙏

thank you so much, you are a very smart guy, I am going to have the video a couple of times to really digest everything you said. I started my own practice 2 years ago and my accountant told me that Scorp is too much work and I should just stay as a solo owner. my practice has grown more than what I had initially expected and I am not good with numbers so I do feel a bit confuse on what I should do. I now have to pay a really good chuck of change to the IRS and to the state. I just know there has to be another way to manage my business. Thank you for the video.

@jackiemederos3138

2 жыл бұрын

@@armannikman4487 Oh really? Even if I am not on the payroll?

Great content! Thanks

Great vid and great tips!! Off topic: I love the office view in the background - what city is it?

Outstanding info!

Subbed, great info!

Thank you very valuable information

excellent content! thanks for sharing...@ 1:44 your popup says LCC instead of LLC..

I can't afford your service but it seems I can't afford "not" to have your services... a Very well-put-together video my friend. God bless.

Amazing. Thank you bro

Amazing God bless and all u touch

Amazing Video !!!!

Super helpful video.

excellent video!

Do you have a video exclusively on setting up a management company?

a lot of people charge a lot of money for this kind of information. Thank you sir!

Great job...appreciate the professionalism..

@karltondennis

3 жыл бұрын

Thank you

@chrisjones-rd8it

3 жыл бұрын

@@karltondennis your welcome, have a nice day

For the Augusta rule, can the house already be in business purpose? The subtitles say "can" but I feel like I'm hearing you say "can't". Thanks for the clarification and the rest of the info in the video!

Thank you🙏

Excellent video!! 💥 🇺🇲💁🏾💁🏾🇺🇲💁🏾👍🏿💁🏾👍🏿💁🏾💁🏾❤️💥💥💥💥🩶💁🏾💁🏾💙💁🏾🇺🇲💁🏾❤️💁🏾👍🏿Thank you!!💥💥🔥🔥

I was under the impression that LLC was just a legal status and that it could file as a partnership or S Corp (or Sch C/E/F on 1040) for tax purposes -- I think the "LLC" discussed in this video is really thinking about partnerships or Sch Cs (or similar) that have self-employment tax rather than LLCs which can file as an S Corp for tax purposes and have no SE tax. Let me know if I'm off on something here!

@joeregan.

Жыл бұрын

My tax pro had me start off as both an LLC and an S-corp. lol

You can have an LLC & be taxed as an s corp.

Phenomenal presentation and your energy is infectious! One word, if I may, please consider another more professional introduction besides "showing off" your Porsche. Our folks need to move away from money as a means of buying material things to money as an instrument to help transform our lives and our communities. And might I suggest communicating your professional credentials🤗. I've already subscribed, so I look forward to becoming tax-intelligent. Many thanks for your work!!

informative video, ty

Can you do, or do you have vídeo talking about Holding companies?

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

Great video

im sure this video is loaded w/ amazing information but damn we're still doing 30 second intros in 2022? wilddddddd

Top 5 strategies: ❤QBI deduction: 20% ❤ Bonus depreciation (100% of an item) ❤ Cash balance plan: retirement planning maximizing ❤Augusta Rule: Host a meeting in our house. Charge the company rent. Reasonable rent fees. ❤ Management Company

Thanks!

First video watched and subscribed! I went from an LLC to an S-Corp. I really wished I would’ve opened dinner under the Trump Administration, that is the only regret in life. 🤣🍾👸🏾🙏🏾😉

Carlton, what do I do if my company is all subcontracted employees? We are considering this switch but we don’t have employees

@karltondennis

3 жыл бұрын

You can switch even with subcontractors... you (the shareholder) will take a W2 salary from the company.

QUESTION: How can I structure a startup cost like flight training ($50k), to start a flight instructor business; so that there is a write-off or way to recover that upfront training cost?

Thanks

I’m creating an S-Corp for my transport/Hot shot business.. I hope that’s better than LLC .

thank you very much

What would be better for a truck diver starting his own company? LLC, S- CORP, OR C- CORP?

Looking into starting my own business and tax strategizing , looking for all the support I can get 😅

That was great when Trump did that. I bought a lot of equipment those years.

Karlton Dennis, you say that running payroll is a disadvantage (expense) of an S-Corp. But if it's only yourself that you're paying, can't you use some of the popular software to do it yourself?

Thank you

you made it look easy

How do you use your LLC to pay your mortgage if the business residence is at your home?

clear explanation

I am a LLC electing to be an scorp. In the irs form 8832, do I choose to be classified as an association taxable as a corporation?

What about having your company run as an LLC but filling taxes as an S corp?

@joshuafootman1593

3 жыл бұрын

That's how it works remember s Corp is inside a LLC

Ty sir

@karltondennis

3 жыл бұрын

Hope you enjoyed the video.

thanks a lot

Can you not take your distributions and reinvest some of it back into your business?

You didn't talk about the QBI affect for S-Corps

Do you mind sharing your video editor info Karlton?

Carlton, I just incorporated in August and received my Articles of Inc. When do I file paperwork for S- Corp request to stay in compliance with time restraints?

@krissy0914

2 жыл бұрын

Probably April

I have 2 members in s - corp. does both member has to take a salary or only the active memeber has to take a salary?

You're the ish brother keep it up 💪💪💪

Can S-Corporations hire independent contractors to do business for them and still save a lot on taxes?

If I have a bookkeeping business can I charge myself in another company for bookkeeping or is that a no no

serious content

If an LLC was not profitable and we file for the bonus depreciation for 100% tax deduction, where does that $ go? Would we receive it as a refund? First time business owner here 😅

I HATE calling rental properties passive-income considering the amount of work that goes into it both upfront and continually. Passive Income is one of those terms youtubers and hacks like to throw around: Kids who like to glorify never needing to work again. I happen to enjoy work! Rabbi Daniel Lapin says people lose their purpose when they stop working. The good Lord loves a cheerful giver. And work is what every single one of us gives back to the world. The world as we know it is the result of unfathomable man hours in continued labor. The system aint perfect buy ya’ll need to admit it’s pretty remarkable that we have grown this large and somehow manage to function! God Bless. :)

s corp can you pay for employees living expenses and write it off for the company?

I am in need of guidance, since I am a sole owner of a company but haven't been able to qualify for any grants and I have so much losses that not everything is being deducted from my taxes. I am thinking of going s Corp! Would that be a good option ? Thank you please let me know if you can give me a consultation. Thank you again!

I am thinking of converting my dba to an LLC and start operating as an LLC on Jan 1st 2024. Can I start a process now and put the LLC starting date on Jan 1st 2024? Is there an option for that on the Incfile website?