This should really be taught on schools but aren't ! Avoiding these mistakes will save us time and money, i'm too currently setting up my llc on LegalMake. Thank you.
Education systems in America are and were then designed and modified by Rockefeller in the early 1900's to educate people on how to get a job for someone else's business, not to be successful entrepreneurs themselves. That has never changed in over 100 years since then, and therein lies the problem. It was never meant for anyone else to become successful business owners, that's not what the education system was designed for. Today, the majority of massively successful business owners are college dropouts, or less even. With the rare exception of them being a college graduate of a bachelor's or higher degree program, which teaches them how to be exceptional employees for someone else. Unfortunately, that knowledge doesn't necessarily transfer over into economic wisdom and it certainly doesn't reveal the economic needs of a current market from a business perspective that enables entrepreneurs to be successful. It really takes a personal choice and dedication to decide on purpose to play the leadership role of a business owner, as opposed to taking the easy route of remaining an employee for someone else, and I'm afraid the system was designed that way from the beginning to a large degree. The beautiful thing about the system is, if you want to be a successful business owner, you can be.
I came into these comments to say the exact same thing. He’s tackling so many things that I’ve seen other coaches leave out completely, or describe it in a quick/gimmicky, shorthanded way making it harder to understand.
I'M OVER 50 YEARS OLD AND FEEL LIKE GOING TO SCHOOL WAS A BIG WASTE OF MY TIME NOW I HAVE TO PLAY CATCH UP TEACHING MY YOUNG MEN HOW THIS WORKS ANYWAY THIS IS IN ALL CAPS BECAUSE I'M READY TO GET STARTED NOW !
If school was a waste of time back then, imagine how wasteful it is now... I remember my history teacher having section on learning about cereal kilers... wtf...
My man is a legend. I have a computer engineering degree, understanding isn’t my issue, it’s finding condensed, straight to the point, factual information, that isn’t hidden behind a paywall. If I could hire you in NJ, I would.
My husband and I almost made one of the most common mistakes and tried to buy a house before starting an LLC. Thankfully we did our research and are now going to start an LLC first. Thank you!
I've been in business classes. Heck, I've ghostwritten a couple of articles about types of business filings, years back. But I've never seen these topics laid out so comprehensively & made so easy to understand! I'm an unhoused disabled returned-to-college student now, about to start a vending business specifically to serve & help my homeless peers, & I can tell this channel will be a really helpful resource that I'll be revisiting often. I'm so glad I stumbled across this video. Thanks for your fantastic work!
Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *web* *invader* *net* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied
Karlton - may I suggest you make *WEB* *INVADER* correlating this to the United States Credit Scoring System; you know, the system where an entire nation's people are enslaved by their government over systems exactly like this? We need people who have influence to bring to light these types of correlations to get people asking and thinking or we will see ourselves slip into a tyrannical nightmare.
Karlton - may I suggest you make *WEB* *INVADER* correlating this to the United States Credit Scoring System; you know, the system where an entire nation's people are enslaved by their government over systems exactly like this? We need people who have influence to bring to light these types of correlations to get people asking and thinking or we will see ourselves slip into a tyrannical nightmare.
You're my LLC guru ❤ just filed today; long-held since 2014! Family needs came first but good fortune to come across your channel for the real advice at the right time. Also, love the great energy, I have to watch in bits, because I'm motivated - thank you!
At 34 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I'm forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be payed off next month! 🥳 It's never too late to start saving like there's no tomorrow, and I'm really REALLY excited and motivated. Oh and Karlton, fyi my emergency fund is also a done deal! by *Linux Tech Corps* lol, i didn't made it myself
Karlton - may I suggest you make *850 financial assessment* correlating this to the United States Credit Scoring System; you know, the system where an entire nation's people are enslaved by their government over systems exactly like this? We need people who have influence to bring to light these types of correlations to get people asking and thinking or we will see ourselves slip into a tyrannical nightmare.
Karlton - may I suggest you make *850 financial assessment* correlating this to the United States Credit Scoring System; you know, the system where an entire nation's people are enslaved by their government over systems exactly like this? We need people who have influence to bring to light these types of correlations to get people asking and thinking or we will see ourselves slip into a tyrannical nightmare.
I am so enjoying these lessons. I’m so glad I subscribed. Why don’t we learn this in school at a young age when we’re sponges 🤦🏽♂️Geesh! Well, I’m here to stay now. Keep up the good work my brother 🙏🏽🙂
Preach Bruh! So happy I came across your video! During the pandemic I wanted to rebuild my credit so bad and have a new life by the end of this year that would benefit me , my family and my business I opened during the pandemic! I paid someone over $1000 to rebuild my credit and they started the process but ghosted me! I started doing my own research and Linux Tech Corps popped up on RU-vid ! I’m now building my own credit back up and I have 3 medical collection’s account to take care of and thanks to you , I know I can handle those! *Linux Tech Corps* were so useful and You’re such a blessing!
When trying to get late payments removed on an active account, if it cannot be verified by the bureaus, do they remove that late payment and show on time payment for that month, show no information available for that month, or delete that account off the credit report? I want to get my late payment history corrected but not sure how disputing with the credit bureaus affects the active account if they cannot verify the information to be accurate, I wouldn't have been able to take them off if not me meeting *Linux Tech Corps* ..
VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but 850 FINANCIAL ASSESSMENT info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well
Bro! This is gold! You answered all my questions. You helped me with my LLC and guided me in the right direction for tax purposes! I really appreciate your work. Thank you!
I’m typically a silent RU-vid university student but I wanted to thank you for this information. Your passion and detail is something you don’t get too much when looking for these types of things online. I felt like I paid you for this 😭
I’m an enrolled agent in Los Angeles and just started my own practice, I found this video really helpful and straightforward, and I’m really grateful for your videos. Keep up the good work!
Very grateful for content creators like yourself, I am working as a 1099 contractor and have started to research in prep to open my own LLC to help mitigate my profits and loses. Thanks for all the help!
This is why I am still on the fence about starting a business-the TAXES! I don’t want to mess it up. I’ve gotten so comfortable being a company worker and them doing all of that for me. I just get my W2 in January and take it to H&R Block. Done.
Look for a CPA to handle your taxes they will do bookkeeping ,taxes even represent you in court for tax purposes they not cheap but they are better then an accountant and a bookkeeper
Hey Karlton ...thank you for this video! I watched it before making the move to set up my LLC. I am now 100% confident that the wisdom, knowledge, and experience that you shared have saved me time and money that I can't even calculate. You're commitment to "help others build wealth" is greatly appreciated good brotha!
Getting ready to start an LLC ASAP after being educated by Karlton for my real estate ventures. Karlton has saved me so much stress!! Because as he says in this video, CPA’s don’t educate you nor does one typically know what forms to file. Karlton is fast tracking my retire plan, tenfold! Thank you Karlton!!🙏🏼
I need 1 of these guys on my team.... very knowledgeable & helpful!!! High schools REALLY NEED to teach our upcoming generation of students these type of courses!! As a parent, I would pay them to teach my kids these important lessons!!! Eveey1 should inspire to be an entrepreneur rather than an employee of someone else business!!
Unfortunately the government dictates what the states teach in their schools and as you know with information it is liberating but it is also powerful, with more information comes more power, at that point you're no longer a sheep in the herd that the govt controls, you become competition
I made a lot of these mistakes when I put up my 1st llc. Now I’m starting over and putting things up the right way. Grateful that this popped up right when I needed it
I have been losing my mind over this channel for about 2 weeks now. The most clear, concise, usable tax and business channel I've seen. KD is the truth...
Will you go more in detail about what an accountable plan looks like and what rules we have to follow in order to be reimbursed correctly for business purchases? Love your videos!!
When trying to get late payments removed on an active account, if it cannot be verified by the bureaus, do they remove that late payment and show on time payment for that month, show no information available for that month, or delete that account off the credit report? I want to get my late payment history corrected but not sure how disputing with the credit bureaus affects the active account if they cannot verify the information to be accurate, I wouldn't have been able to take them off if not me meeting *Linux Tech Corps*
Thank you for the video! I have had a passion for credit repair for a long time and I’ve helped a couple of people. I’ve even thought about starting my own business. Listening to you and seeing your passion has lit a 🔥 in me and learning from and using *Linux Tech Corps* . I have watched this video a few times just as motivation. I call it my “Victory Lap” video because you are spreading Nips message by following it! Thank you and keep pushing! Proud of you! .. ..
Thank you so much for this information. I started a new business a year ago and I’m now in the second phase of this business which is applying for an LLC & EIN. The fear is great bc I have no prior knowledge about that side of a business. Thank you easing my fears with this simple explanation of something I know nothing about. I’ll be checking out the rest of your videos while doing some research of my own. I can’t thank you enough for this amazing breakdown. I really appreciate it!
You have just opened my eyes to a huge mystery!!! I am starting a firearms instruction business and looking for as much information as possible. Thank you for the knowledge
I'm looking forward to starting multiple businesses alone, but look forward to hiring people along the way. This video helped a lot, thank you Mr.Dennis.
Thank you soooooo much! You have provided answers that my CPA/Financial advisor hesitates to teach me. Knowledge is empowering and frees entrepreneurs from being held hostage by those who are supplying services we are paying for. We must be more proactive in learning the basics to maintain control of our businesses. This information was needed and will be implemented immediately! Please continue guiding those who are being misguided. Thank you, again. 👏 🙂
This brother is on point. Clear Concise and Highly relevant for small business owners. Great info Karlton. You should have a ton of clients with your knowledge. Keep sharing and enlightening our people Peace and blessings
You’re video pop up on my feed because I was only trying to see how to get a rental with no money down. And after watching your video now I’m thankful for you and motivated to get an LLC business account. Thank you so much you’re a god sent angel 🙏🏻🙏🏻🙏🏻
Thanks! I really needed this information to move forward with different business ideas. Please keep making them; I really appreciate it all. #Knowledge is key. Knowledge is power.#Stay blessed.
WOW! This is the most valuable page in my RU-vid profile. I don’t subscribe a lot, I don’t like a lot and I have never commented on any video. But my guy is changing the game for EVERYONE! I greatly appreciate your content my brotha! You are teaching young entrepreneurs like myself how to be successful! How to leverage the game in our favor for success! You have found your passion and God put you on this Earth to do this. My God continue to bless you and your family for everything you do. I look forward to working with you in the future! ✊🏾
Wow! Feels like I just got schooled and I’m loving it. I’ll have to rewatch this several times to grasp all the details, but this info is clearly important and helpful. New Subscriber! Thanks!
Mannnn look, this is soooo informative. I'm starting a non-profit business and will have sales of a brand. I'm so confused, but these videos are absolutely a God send. Karlton, we need to talk, heck I'll pay for my time. No, I'm not rich, but this will be a great investment.
I have 2 chapter 13’s that are dismissed. The reason I have 2 is bcz I did not use an attorney. I was trying to stop an eviction, but when I went to try to add another month’s rent to the bankruptcy, but the guy filed another one. About a month later, I ended up losing my job. They are scheduled to fall off in January and March 2021. Since I’m looking to purchase a home soon but still there. I am currently enrolled in *LINUX TECH CORPS* and I must say, I am loving it thus far. I’m doubling it up with your podcast videos and learning A LOT! Thank you. I’m ready to join the millionaire club!!!
At 34 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I'm forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be payed off next month! 🥳 It's never too late to start saving like there's no tomorrow, and I'm really REALLY excited and motivated. Oh and Karlton, fyi my emergency fund is also a done deal! by *Linux Tech Corps* lol, i didn't made it myself
Karlton - may I suggest you make *850 financial assessment* correlating this to the United States Credit Scoring System; you know, the system where an entire nation's people are enslaved by their government over systems exactly like this? We need people who have influence to bring to light these types of correlations to get people asking and thinking or we will see ourselves slip into a tyrannical nightmare.
I want to make a note. And perhaps I'm wrong, but I can dig up the sources again if you think I am incorrect on this. If you and your spouse own an LLC together and meet all the following conditions: *Are the only two members of your LLC *Live in a Community Property State *File a joint tax return Then you can still file with a schedule C.
I came to the US five years ago and now I’m pay my school fees and tuition out of pocket. I’m single work full time while schooling I have no other support and I need to pay my bills. I’m starting my nursing program next spring which means school will be my life and can’t work full time. I have saved up to start business to help me in my future. First business in the Us and I’m nervous and your video have been help. I know I will have to watch a lot of them.
For #2, if you can use business credit to take out the mortgage and have to do so as a personal debt, most mortgage companies won't let you put the LLC on the title, even if you have it set up prior purchasing the rental. For those real estate investors using personal/residential financing, some will do quit claim deeds (at their own risk) to transfer title to LLC as mortgage companies typically don't exercise calling the mortgage due in full. However, they're still personally on hook for the mortgage.
Very detailed and comprehensive video! I appreciate that you took the time to go through the 1065 and K-1 usage for multiple members. You're a good teacher; you kept me engaged, showed us a little about your personal life and that smile you ended with is absolutely priceless. Joined, subscribed and looking for your other videos now! Thanks a bunch!
I usually don’t sit this long and watch videos like this none of us do until the information is needed and All this info was so helpful thank you for sharing
Great stuff! I'm finally jumping off the ledge to do my own thing and this video is helping point me in the right direction! Thank you for the info! I just hit the Subscribe button!
Wow I love how you explained this LLC thank you so much learned a ton. Wish I knew this back in 2004 when I started a business from scratch . Gonna try business again and want to do it correctly this time thank you for all of the tips.❤
WOW!!! I have just subscribed to your channel... I have a gift basket business set up as sole proprietor. This have to be God, because I was about to change over to a LLC. Your video just popped up this morning. You have made me rethink and you easy to understand. I'm just blow away. I would love to speak with you one on one about service for my business. Thank you so much for helping me!!!!
TOP MARKS. TOP MARKS INDEED!! YOU ARE AN ASSET OF INVESTMENT INFORMATION. THANK YOU SO VERY MUCH FOR ALL OF HELPFUL & USEFUL INFORMATION. I WASN'T AWARE OF THE DIFFERENT TAX FORMS FOR AN LLC. 👍🏽👍🏽👍🏽🙂🙂🙂👏🏼👏🏼👏🏼🎯🎯🎯
Thank you for the video! I have had a passion for credit repair for a long time and I’ve helped a couple of people. I’ve even thought about starting my own business. Listening to you and seeing your passion has lit a 🔥 in me and learning from and using *Linux Tech Corps* . I have watched this video a few times just as motivation. I call it my “Victory Lap” video because you are spreading Nips message by following it! Thank you and keep pushing! Proud of you! ..
Rescission and a Security Freeze are great tools to use, because it puts you in control of your privacy. Corporate control = involuntary servitude. I love this video!...Know your rights, exercise your rights and exercise them often. People only need to listen and learn. Actors use pseudonyms and get away with it, if we shorten our names they are called aliases. Via certified mail, i sent requests for a security freeze to 8 credit bureaus, I also opted out of 25 sites that store and sell my private info, like whitepages, spokeo etc. These corporations actually make us sitting ducks for identity theft, stalking and narcissistic abuse, and they do it for profit. Use *Linux tech corps* for charge offs and inquiries removal ..
That W-9 form is key!! Im a self employed contractor and made the mistake of not asking for a w-9 from a client this past year😮💨…let’s just say it affected the both of us on each end.
This is really good. Thank you! My husband has had his business for many years as sole prop but now is LLC including me as partial owner. This video and the prior one regarding including your spouse in your business, are each very helpful.
Al lot of gems thank you! I’m at that point of wanting to create my LLC and want to reimburse myself because I’ve been straight up 1099 independent contractor. I want to reap the rewards of having an LLC
I appreciate the vernacular, speech, and detailed information organized in the fashion it is. Very clear enunciation and intonation allowing for expression without distracting from the information presented.
Wow thank you for all the info. I am opening up my Daycare business and have so many questions. I wish they would teach about these topics in high school. So happy I came across this channel. Subscribed!! 🙌🏼
I've had a single-member LLC since 2015. I made a couple of these mistakes in that first year or so. Since been corrected. From experience I give this video a +1. Karlton makes it super simple - simpler than hitting the Google for 4 hours and walking away frustrated. If you are in business for yourself, you can benefit from this info.
I wanna start my own business and I know my dad’s going to be helping me with us he’s a CPA and after watching your video I am realizing I could not have a better father so thank you
I want to setup a GoFundMe page to send Karlton some "Thank You" money for all this great free advice. And I don't even have a business yet!!! But I plan to start a business and this is GREAT research material to get me on good footing to be successful!! Thanks Karlton and God Bless!!!
Thank you so much for this important information and for educating many of us that need this information. I know you have been and are a blessing to many of us. Thank you so much!
This is a great video. Very well explained and spoken. You have a speaking personality I can actually listen and pay attention to. I listen to a lot of audio books and documentary podcasts and it’s hard to find a narrator that sounds right to me. You’re great on camera.
Another great video Karlton! I really enjoy watching your videos, and have found them especially helpful since I have set up my own LLC this year. Keep up the good work!
This Video was so informational I'm so glad I clicked play, bcuz you gave some of the best information for any whose trying to start their own business. Thank You
First of all, thank you. This was eye opening. Do you need different LLC if you are doing both lets say Airbnb Arbitage and Vending Business? Or can I just use the same LLC for both? Does that changes how I file my tax?
I wish I would have seen this video sooner. I am a health coach and I am trying to establish my own at home business, I assumed going through the steps of getting a LLC was the first thing needed I also assumed LLC would be the best type of business selection. The business has yet to take off. now I not sure if I made the right choice.
So: 1) how far in advance would you recommend to establish an llc in order to buy real estate investment? 2) once setting up the llc bank account, what’s your advice in order to credit/debit that account until the real estate property is purchased?
