How To Pay Myself In My Business (LLC, Sole Prop, Corp, or S-corp)? -- And Tax Implications! 

There would be a strong demand for a video on llc’s for day traders

Very well explained. Need to watch it multiple times to grasp all the information. Thank you Coach !! 🙏

You are an amazing person for helping business owners like myself with all of this information. Thank you so much!

Really appreciate this. Thank you so much.

Around 15:30 into the video when talking about the S-Corp you mention it is not advantageous because of the 20% deduction. Are you talking about the QBID ?

Hi There, here's my question, we are preparing a new LLC taxed as a C Corp (since we don't want any additional income to show up in our personal tax returns for the next 2 years). Can we keep all profits inside the LLC for the next 2 tax returns without any salary or distributions? Thank you for this video, it's great!

Amanda can you explain to me the concept of LEGAL TYPE...vs TAX TYPE

I have a question if anyone can answer that will be great I did LLC single member but when i apply for EIN the IRS considere my self has a sole proprietor so which one should I follow

I want to join you, on linkedin, facebook, please suggest how?

Hello Thanks For the great information, I have question how can I find spread sheet for accounting ?

Love your videos. I always noticed you're not wearing a ring on left hand. Any chance you reside in Arizona? Ha Ha

I did a B to B sale recently and they paid me with a 1099 but my single member LLC does not require a tax form. Would I categorize that as part of my net income??

Can a trust be the ONLY Member of a Single-Member LLC? If, then how would the LLC be taxes as?

Thank you so much for sharing! This really simplified "how to pay yourself" for me. Turns out, I was on the right track!

Thank so much

Thank you business Finance Coach for such detail breakdown explaining the different kinds of options to consider while opening a Business accounts

One question 🤔 can you go from llc to corporation?

Hello~ will there be tax complications if I am currently working for the employer as w2, and also create my own business to work as self employee?

Really great content, please add context of US/Canada to capture from those countries

Good information. But you're misusing air quotes. Air quotes are used as a way to show satire, sarcasm, irony or if you're using a phrase in an unusual way. The majority of the time, you air quoted words that were not used in an unusual way and I don't think you were trying to convey satire. For example, you used air quotes when you said "organizational document" -- that's the name given to those legal documents so there is no need to use air quotes unless you meant to insinuate that they are not organizational documents. The same is true when you air quoted "members". That IS the name given to owners of an LLC. Unless you were trying to hint to your viewers that they really aren't called members. It's like air quoting the word "homeowners" when you state that a person who buys a home is called a "homeowner". That would insinuate that there is something unusual about that term or you were trying to insinuate that they aren't called "homeowners". An instance of when you might use air quotes would be to air quote the word "easiest" when you mean to imply that there really isn't an "easy" way. I liked your video for the content. I just wanted to give you feedback since you are trying to present yourself as a business professional who has a certain level of overall knowledge. No hate. Just friendly advice that you can take or leave. 😉

Thank you for the great knowledge and the great science of facts coming through your spirit I didn't know anything about when you do the contribution that you can set up that account thank you again God bless

Hi! I was hoping you could help me answer this question. I just got through watching you turbo tax video on deducting miles. I have been door dashing for about 9 month and have kept track of my miles perfectly but when I watched your videos I had an epiphany. The vehicle I've been using this whole time to door dash with is in my moms name. If I have her transfer the vehicle over to my name before January, and I somehow end up getting audited after I file my taxes this year, do you think my entire mileage deduction will still be fine since I've been using a car that wasn't even in my name this entire time but then had it transferred over to my name before I filed??? ughhh I can't believe I didn't think about this when I started driving. I think I forgot is wasn't in my name lol

Great video I think it's just me bcuz I'm soooo lost!!

Your are lovely and aeesome beside great communication skills

Pardon, but I don't see the aforementioned template s

I have no idea what you are talking about most of this video! It’s as clear as mud! Seriously! You might as well be speaking French... and I don’t speak French! I am a single member LLC as of May 2020 and my CPA told me to file a 2553 with the IRS and I understood that to mean that I was an LLC but filing my taxes as an S-Corp. Now, that’s all I really understand or know. I have been too broke to pay me on any kind of regular basis and have just transferred money from the business account to my personal to barely pay sone of my personal bills. I was never aware that I needed a W-2 with myself or that my paying myself should be a specific amount at least each month. I was only recently aware that because I was filing as an S-Corp, I needed to file payroll quarterly, which I haven’t been able to afford to do yet. I was a DBA sole proprietor before I became an LLC in May. This has been a difficult year and my bookkeeper and CPA says that we will catch up on the payroll filings and we will make sure I have paid my payroll taxes that I’m required to pay before the end of the year. I’m struggling to survive, as many are these days due to covid, but I am up to date on my income tax filings. As you are talking about S-Corps as opposed to a single member LLCs, you are losing me. I am completely in a fog as you talk about S-Corps and all the forms you are talking about! I thought it was a pass through type of pay but now I need a W-2 and all these other forms you are talking about. I can’t even keep up or understand what forms for what that you are talking about. I am sufficiently stressed now and completely din’t understand what I thought I understood now. I can’t listen to anymore. I might have to cry! Gotta go. Will need to talk to my accounting firm in the morning. This video did NOT educate me... only upset snd confused me!

Thank you for sharing this video about "How To Pay Myself In My Business." I look forward to more of your upcoming videos about this if you will have any. Thank you, again, so much.