Entity Structures That Safeguard MY Wealth

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Tax professionals such as enrolled agents help to structure entities for their clients on a regular basis. Proper entity structuring can result in a variety of benefits including enhanced liability protection, tax savings, and easier business management. Many business owners highly value all of these things.
However, even though tax pros commonly help their clients structure their entities, many of them do not publicly share the way that they structure their own entities. In this video, tax expert Karlton Dennis breaks down the full structure for all of the business entities that he owns.
This complete entity structuring explanation helps to provide insights into the way that he runs all of his businesses. Karlton walks you through his entire organizational structure for all of his business entities including his S Corps, LLCs, C Corps, and more. He also explains the reasons why he chose this particular overall structure.
Timecodes
0:00 The Trifecta
0:52 Using an S-Corp to Manage Multiple LLCs
1:45 How to Offset S-Corp's Income with C-Corp
2:39 Using a Private Family Foundation to Protect Assets and Save Taxes
4:00 Protecting Investments with Series LLC Structures
6:24 Inside and Outside Liability Protection Explained
7:48 Avoiding Probate with Step Up in Basis
8:24 Why Your Tax Plan Should Be Unique
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
#TaxSecrets #TaxStrategies #SeriesLLC

Опубликовано:

4 авг 2024

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Комментарии : 41

@CoreyLloydo Месяц назад

This year's challenges will undoubtedly be more difficult. Looking back, I realized that I was so focused with my portfolio that I made disastrous financial decisions for the entire preceding year. I had to pick between increasing my investments and purchasing a house. After choosing to sell my investments, I discovered that the property I had purchased required more maintenance than I had anticipated. Trying to find out how much longer I can take this is becoming increasingly difficult.

@ArchieJohnson5h Месяц назад

Take things easy, we've all made mistakes

@AdamWright8fool Месяц назад

Invest in companies that provide current cash flows to diversify your portfolio. I hired a planner at the end of 2022 to enhance my portfolio, and in the last ten months, I've made profits in over fifty thousand different marketplaces. Should 2023 teach us anything, it's that luck doesn't last forever. Even in times of abundance, we should put in more effort to prepare for the worst-case scenario.

@CoreyLloydo Месяц назад

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

@AdamWright8fool Месяц назад

Leah Foster Alderman. You'll undoubtedly find out more if you look her up online.

@CoreyLloydo Месяц назад

She appears to be well educated and well read. I ran an online search on her name and came across her website, thank you for sharing.

@mahoganygipson248 Месяц назад

This was incredibly informative! Please post a video on personal family foundation!

@Falcon8856 Месяц назад

Super useful to be able to look into actual entity structures used by wealthy individuals! Explanations were also very helpful!

@2005Pilot Месяц назад

This man has some serious knowledge. He’s done his homework and more! 😊👍👍

@seagoddess524 Месяц назад

I was in Tax Court in Maryland years ago. There were two cases were the defendants were deceased. The judge only threw out one of the cases.😮 Everybody felt bad for the other dead guy who could not escape tax court. Even though he was already dead.😢 Damn.

@nurturingwithnature Месяц назад

This is valuable information. I'm currently working on transferring my family'a businesses to a Trust. Thank you for sharing 🙏🏾

@marinadragon9370 Месяц назад

Very clear presentation

@VickyLashenko Месяц назад

Wow, this is absolutely amazing! What a helpful video! Thank you so much for never holding value back! So grateful for your, Karlton!!!

@sanfranmissionbullies4924 Месяц назад

Thank you, thank you, thank you! I really dig the way you explain it all bro. 👍🏽👏🏽☝🏽👊🏽💪🏽💯🙏🏽

@mikejr1152 Месяц назад

Good stuff! Can a series LLC have LLC's that are located outside of the state it is originated in?

@ElLeNoir..ELconomics Месяц назад

Clutch 🎯

@1228sda Месяц назад

I know you are a tax strategist. Does your firm actually do taxes?

@user-lr6gv5pu9j Месяц назад

Thanks for the video. It clarified a few areas for the structure I was considering for an S-Corp and two LLCs.

@laurak9472 Месяц назад

My head is spinning after watching this video. lol.

@amormango3709 Месяц назад

Do you need to foreign file your Wyoming Holding Company that has real estate companies for tax purposes since your income is from several states?

@andrelove2797 Месяц назад

So it sounds like a Wyoming LLC is Vanderwall Nevada LLC. Am I getting this correct? So, you pay taxes in each state?

@user-ic6kq4vt9t Месяц назад

So how can your C Corp have a fiscal year end?

@ahmadelarbi9544 Месяц назад

🔥 🔥 🔥

@kalyromero Месяц назад

How may a get a consulting call??

@goddisrizing7146 Месяц назад

Ive been following you for all 3 years and you are the GOAT in my book..!! 🤍

@user-xl1xf3th2u Месяц назад

How much do you charge to set this up

@zehuazhou3390 Месяц назад

for the properties you own, if you did conventional loan on them and then transfer the title from your name to the LLC, I assume the mortgage still has your name on it. In that case if the tenant slip and fall, can he look up the lender info to find out that you are the borrower of the mortgage and sue both you and the LLC?

@w.maximilliandejohnsonbour725 25 дней назад

Nice business structure. Curious though 🤔. Did you assign a life insurance policy to yourself and each of your family members. If as you said something happened to a family member. The trust would be the beneficiary from each policy. The mandate of the trust would require each future generation of your family lineage be insured naming the trust as a beneficial recipient. Just asking out of curiosity. Not providing legal advice.😎

@Rebel4YHWH 4 дня назад

I have question, I am new to business and am looking at starting 2 LLC's this year. Are LLC S-Corps that own LLC's considered a "Series" LLC? In my state "Series LLC's" are not allowed and I'm trying to understand exactly what they are and how they may be different from what is described above.

@divyv20 Месяц назад

Hey Karlton , really nice video ! I was wondering if I could help you with more Quality Editing in your videos , make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?

@bobbyxrpaxelrod Месяц назад

🔥🔥🔥🔥🔥

@Mike-zu9ke Месяц назад

Hey @Karlton Dennis! What if my company gets a loan from my wife for 1mill... and if anyone ever tied to sue me I'd owe my wife the 1mil first correct?

@virtuetaxservicesllc9790 Месяц назад

🔥💯

@helprehouseourvets6919 22 дня назад

And that's all great and dandy BUUUUT...the really important question & reality is...WHO set that all up and WHO's minding all of that cumbersome and overwhelming PAPERWORK to keep everything running smoothly & efficiently!!? YOU? Okay--who would the average *Joe Blow* hire (just to get their one member (example: Imported ironing boards, car radios or whatever) business off the ground? A CPA? It's not as straightforward, easy, inexpensive and simple as ppl make it seem from a legal & compliance standpoint. It can and will become quickly overwhelming, cumbersome & disastrous for the uninitiated & unknowledgeable (like me!)

@dexcherrington1624 Месяц назад

🦾💯💙🫡

@richardbloom2209 28 дней назад

Please do your own research, half of this is pointless and does nothing for your taxes. He failed to mention the distinction between legal entity choice and entity tax elections

@algeriennesaffaires7017 Месяц назад

Music is so annoying, and I can't focus on your talk. Informative videos should have no any annoying voices over or in the background or nearby, sadly cant watch this video