I'm Chad Pavel, and my goal is to help people make more money, start wildly profitable businesses, and save money on taxes and for retirement. I'm a family man first and want to work with people who are in it for more than just the money.
Growing up, picture that kid who was always curious about big trucks, how money works, and having fun. As I grew up and got into school I found that finance and technology were the most interesting subjects to me.
I started my career in accounting, went on to investment banking in NYC, and started my own CPA firm, Pinewood Consulting, (pinewoodfs.com) to help entrepreneurs start, fund, and grow.
This channel is dedicated to the people who want to build greater lives, more wealth, and have fun while doing it. Thanks for checking out my videos and please subscribe!
You need to learn how to "adjust" your definition of what you do, fitting yourself into a category which will allow for that Lambo to become company owned and deducted as an expense...along with all expenses associated with the Lambo.
I thought that on a pass through LLC you only had to pay taxes once a year- by April 15th. At the end of this video you said you need to pay taxes throughout the year or you will be penalized. I'm confused about that.
oh my god this is the best explanation and most simplistic example that you could use. I really learned a lot and appreciate how easy you make it for us new business owners to understand !
Great video, had to just watch once (at 1.25x) and I already have much better understanding on how to manage payments and taxes as a single member LLC. Thank you so much!
what do I do if I'm a youtuber, but I pay editors for my work? I pay a couple of freelancers for art sometimes too I'm still a single owner right? they are just employees? Kinda?
Hi Chad. Thank you for your video. My question is what is the way to pay for my taxes if I have an LLC. I know FICA taxes should be paid on each Draws however I am not sure: through Eftps, and personal IRS account? How to do the payment through that payment option ? Could you do a video about it or do you have one already ?
great video. however, didn’t answer my question. wanted to know how to take out taxes BEFORE the end of the year so i can be paying all along 😩. like if you pay yourself a set amount based on your monthly profit. how to calculate and withhold ahead so you don’t have to pay a bunch at the end of the year.
Is there a section on the schedule C where we write how much of a distribution we took? In other words, are we required to declare our distributions to the IRS?
I am confused. I made about 52k, most of that got paid directly to me. I spent less than 2500 on the business. How does this reflect on my Schedule C because right now it's showing I owe 11k.
Thank you for your training that is excellent prepared/explained. I have a question related to LLC-Partnerships as LLCs. One of these LLC Owner has a an S corp. Can Owner transfer income earned by the LLC t the S Corp & pay Payroll through the S Corp.? What to do in this scenario in order to get that advantage?
How do you record when business owner contributes funds (from personal account) when the business runs out of money to pay expenses? How and where in the schedule C would you record it? Thanks
So if the tax/Irs processes are identical for a single member llc & a sole proprietor then what are the actual differences that have to be taken into account when you begin to design the form of your personal business model
I recently restructured to a SMLLC.. after my former "co-member" mismanaged revenue and ruined it.. thanks for the explanation single member is the way to GO.. now I have to figure out the estimated tax payments... ..thanks!
