@@ladieesc0 Hi Ama! sorry, I just saw your comment -- I have a bunch of E-courses now. You can check them out here: www.bizschool.coach/courses ... you can buy them all too - I called it a Small Business MBA! :)
Hello, Your videos are great. But can you do one with combined incomes? Lots of people are working as employees with W-2's and have a small business(self-employed) on the side.
We have a S- Corp in Florida and its only my husband & I that are owners. Our accountant that has been doing this for over 30yrs said we do not have to file FUTA tax (reemployment tax) renamed from unemployment, since if we lost our business, the state isn't going to pay us unemployment, the IRS rep agreed and we have been doing this whole time we have been in business 2002. I am going to attempt to use a payroll company to do our payroll and tax/form submitted, will have to see they didn't understand why we weren't paying the FUTA tax when we get a w2 at end of year. What is your take on this?
Excellent video. Could you please do a video on how to manage a Holding company? Advantages, disadvantages, how to move money between Holding and Operating company.
Yes! Real quickly -- a holding company is just what you are saying the business is for (and you should be following that more than people sometimes do). It uses the same legal and tax business types that I explained in this video. It's not it's own type of business. So, in that regard, it's the same as I said in this video -- you want to keep everything separate from the owner and say two LLC businesses (1 a holding company and 1 an operating company). The most important thing is 1) following the states rules where the business operates, 2) keeping separate books and records and 3) no co-mingling of funds. I have been meaning to do a video on this. If you provide some more details about your specific situation/what you are thinking about doing, I'll answer your situation/question directly.
@@businessfinancecoach I understood a husband and wife starting an Umbrella LLC would be considered a multi member LLC and default to be taxed as LLP Form 1065 schedule K1. If you are trying to stay anonymous on you Umbrella LLP, wouldn't a k1 disclose the names of the members? Is it possible to keep the holding company LLP anonymous? If so, How?
Awesome video...wish I would have seen it a few months ago! My husband and I formed an LLC as a partnership in Nov of 2019, I quit my job and now work full-time on this business and will not take a salary as there is no profit (yet). My husband continues to work at his full-time job. Can we still file our taxes as a Qualified Joint Venture (tax type) with 2 schedule C's rather than a 1065 K-1?
I'm planning to do a partnership with my girlfriend for our business but I'm not sure if I should do general or llc? I've heard with LLC we would get taxed higher, is this true? Hope to hear from you soon!
Yes - I'm doing a Tax Act series for partnerships and s-corps, but they get a bit more complicated so I'll probably be doing a live workshop on that. There's a series on the software I recommend for individuals and SMLLC/self employed/contractor businesses (freetaxusa) and some on Turbotax (even though I don't recommend them:) ru-vid.com/group/PL6RQXhWqnQGH_TWMVgF4ba5ddEEIrHHL8
If I would form a LLC with my brother for a trucking company can we choose to be taxed as a sole pro . or would we have to be taxed as a partnership? Or would we be better off registering our company as a general partnership and file taxes as a partnership? Thank You
Question. So I formed my company, Herby Distribution in California in 2018, It is an eCommerce business I formed it as a DBA however I did get an EIN number as a sole proprietor on the IRS website. I My question is, considering I have about 20 companies that I will execute in due time one by one, I created a corp name called www.RestoringHumanityIncorporated.com I am wanting to establish that here in Oklahoma where I am currently at, After forming that officially, either an S.Corp or LLC, unsure, however after forming that, I would like to add my previous/current company as a subsadairy company under the Restoring Humanity, this is where I also would like to add the other business's when it is time. Do you have any advice or suggestions on how to go about this in the best way possible?
