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Business Structure: How to Choose the Best Entity for You 

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What's the difference between an LLC vs S Corp vs C Corp? And which one should you pick? Well, today I am going to cover in great detail the best business entity structure for you in 2022.
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Timestamps
Intro (0:00)
What is a Business Entity? (1:30)
Choosing the best Business Structure is Important (3:20)
Entity #1 (4:29)
Entity #2 (7:02)
Entity #3 (9:08)
Entity #4 (10:20)
Entity #5 (12:35)
Entity #6 (14:25)
How to Choose the Best Business Structure (15:30)
Bonus Tip (18:06)
More Popular Uploads:
Disadvantages of an LLC: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-YIeHSDbS63o.html
Tax Benefits of a C Corporation: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-MyGH2czfr_w.html
How to Use a Business Credit Card: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-7oR29oLLoqM.html
7 Popular Tax Write-Offs That Could Trigger an IRS Audit: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-vbg-b9D3bsQ.html
How to File Your Taxes as an LLC: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-vqsghJV1AbU.html
How to Start a Business: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-gEICb03wQng.html
I'll cover:
- Why choosing the right business entity is important
- An overview of the 4 types and subtypes of business structures
- & Simplify which one may be better for you based on your goals
My goal is to help make sure you start a business with a legal structure that suits your needs, or you reconsider which entity you have already selected. Because each one has its pros and cons, there are amazing LLC tax benefits, S corp tax benefits, and C corp tax benefits.
Hey, I'm Sean with lyfe accounting. The accounting company that helps you save on taxes and build more wealth. Please be sure to give this video a like and subscribe to our channel so you don't miss out on future videos!
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

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21 апр 2022

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Комментарии : 45   
@LexxLuthure
@LexxLuthure 10 месяцев назад
This video was extremely well done! THANK YOU!! 🙏🏽🙏🏽
@salderosalia2992
@salderosalia2992 Год назад
You rock. Thank you for this info. Super helpful.
@Minrere
@Minrere Год назад
Thank you. One is able to understand what the four structures are in a business. Being able to explain...is one thing. Being able to understand what you are explaining is another thing. So, Thank you Again. I understood.
@denisedixon7869
@denisedixon7869 10 месяцев назад
Thank you for a great video explaining the purpose of each legal structure as well as selecting the best structure for my business.
@MoonBeamsChild
@MoonBeamsChild 2 года назад
This was very helpful. Thank you!
@msdeej538
@msdeej538 Год назад
Thank You, Thank You, Thank You. This is Sooooo Informative. THANK YOU💖👏👏👏👍👍🤗 You Covered all my questions and more.
@drakethegreat
@drakethegreat 2 года назад
loving these videos!
@nyahholland7702
@nyahholland7702 Год назад
Hi, thank you for your insight, yes, I would like to learn more about a Non Profits!
@FinancialFreedomMadeSimple
@FinancialFreedomMadeSimple 2 года назад
Great information, thanks for this!
@ellenoir5678
@ellenoir5678 2 года назад
My guy Sean!! What up!! Another great video lyfe acct family
@katiefeder3495
@katiefeder3495 10 месяцев назад
Great video -thanks!!!!
@jodylowe8476
@jodylowe8476 9 месяцев назад
This was excellent. Great job sir.
@donaldmatthews6419
@donaldmatthews6419 5 месяцев назад
. Thank you for sharing this great information.
@thetapeins7274
@thetapeins7274 2 года назад
This was good knowledge, and I appreciate it! USEFUL!! however there were many grammatical errors throughout the video, keep an eye on that in the future. Thanks for the info
@kevinsmith5875
@kevinsmith5875 3 месяца назад
Good info brother
@msdeej538
@msdeej538 Год назад
YES NON-PROFIT INFO PLEASE 👍
@genesishealth7718
@genesishealth7718 2 года назад
Very informative. Bring a lot of clarity to big subject. Non-profit video please👍🏾
@LYFEAccounting
@LYFEAccounting 2 года назад
Thanks for sharing!
@desigirl9707
@desigirl9707 2 года назад
great video. thanks for explaining thoroughly. I am a new real estate agent/ Independent contractor. I hope you do a video when you write off your spending how much exactly you are writing off. I mean I don't understand how much we will get back from a example business travel, gas, rental property. if you make a video on how much tax write-off for business expenses for real estate agent. that will be great.
@LYFEAccounting
@LYFEAccounting 2 года назад
I actually have a video on that! Try to search on RU-vid “tax write offs for real estate agents LYFE accounting”
@jodahamunra686
@jodahamunra686 2 года назад
Great video and tutorial. Please, drop that tutorial on the Pros or Cons of a Non-Profit Entity... #Hotep
@rogerreinsch7842
@rogerreinsch7842 3 месяца назад
In a general partnership, one partner could be liable for the entire partnership liability. Here is how. Assume the partnership has a judgment against it for $2,000,000. The first place to look for the money is the partnership assets. Let's say that runs out at $1,000,000, so now the other $1,000,000 passes through to the partners, either pro rata or as the partnership agreement states. However (here is the catch), if the other partner cannot satisfy his/her $500,000 share, then the other partner if they have the assets will have to make up the difference to the third party claimant. The partner who pays more does have a right to sue the other partner, but the other partner has no more assets, so that is usually a moot point.
@newlightforgod
@newlightforgod 9 месяцев назад
Amazing videos. But DBA's wasnt dealt with. Is there a diff between sole prop. And DBA?
@Itspaigeytv
@Itspaigeytv Год назад
If I have multiple freelance jobs do I need a different sole proprietor for each job or can I put my businesses under one umbrella?
@creativemind8406
@creativemind8406 11 месяцев назад
Please make a video for a non profit. Thanks
@BruceCampbell-qd2kl
@BruceCampbell-qd2kl Год назад
Make that video on mon profit👌
@catalogisland8158
@catalogisland8158 Год назад
I am planning to start a tax preparation business from home. Which business structure would be best for me? Sole proprietor, Corporation or LLC? I will be the only owner.
@TraciWilliamsInspiringHope
@TraciWilliamsInspiringHope 9 месяцев назад
If we have been open for 11 months how can we setup on a LLC as a corporation instead of the pass through
@Pktk222
@Pktk222 Год назад
Actually I have an LLC but elected to be taxed as an c Corp. does that mean I still have to have meetings?
@KevCollins-ht7ql
@KevCollins-ht7ql 5 месяцев назад
I'd like to start a small trucking company. I've no partners at this and I'd like to start small by purchasing a small truck that doesn't require a cdl. What's the best entity for su h a business?
@behappy886
@behappy886 2 года назад
Anybody can become a CPA just by watching your videos. Thank you for the great information always.
@LYFEAccounting
@LYFEAccounting 2 года назад
Haha I really appreciate that! Are you an accountant as well?
@clemonjr.garner6649
@clemonjr.garner6649 Год назад
Said set up a trust fund not a LLC but seen you said umbrella companies
@levarbell1433
@levarbell1433 2 года назад
What business entity structure would be best for a start up tow company. LLC or dba.
@LYFEAccounting
@LYFEAccounting 2 года назад
Everyone business may have a different strategy. But an LLC seems safe, is this for you?
@levarbell1433
@levarbell1433 2 года назад
@@LYFEAccounting yes I have purchased a truck but it took all my funds . That's why I'm hesitant in setting up a llc . Not sure if it would be wise to establish the LLC now and I'm not ready to work the truck
@718_sports4
@718_sports4 2 года назад
Make that video on mon profit
@LYFEAccounting
@LYFEAccounting 2 года назад
Sounds like I’m going to have to make that happen!
@718_sports4
@718_sports4 2 года назад
@@LYFEAccounting Factz 💪
@kaylabrown2290
@kaylabrown2290 5 месяцев назад
Hello are you a business coach or is interested In being one 1on 1 ?
@clemonjr.garner6649
@clemonjr.garner6649 Год назад
Setup talking about non profit companies plus I want reach you.
@DanielMurrell
@DanielMurrell 2 года назад
Make the non profit video please
@LYFEAccounting
@LYFEAccounting 2 года назад
Highly considering it! Do you currently own a business?
@DanielMurrell
@DanielMurrell 2 года назад
@@LYFEAccounting I have a side hustle that I want to upscale to a business
@msdeej538
@msdeej538 Год назад
@LYFE Accounting,,, I'm Interested in starting my Home- Baking Business. I chose The LLC 👍