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How to Plan for Tax as a Single Member LLC 

All Up In Yo' Business with Attorney Aiden Durham
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One of the most complicated and stressful aspects of owning a business is, of course, TAXES! Keeping track of your expenses and tax deductions, how and when to make estimated tax payments, self employment tax, saving for retirement with a SEP IRA, saving enough to pay taxes, it can easily become overwhelming. Check out this new episode of All Up In Yo Business to learn some of my favorite tax planning strategies and small business taxes for beginners.
Thank you to our friends over at ComplYant for sponsoring this episode! ComplYant simplifies the process of filing taxes for small business owners. Visit bit.ly/3FnLvyK to take advantage of their FREE tax deadline calendar and use the promo code 180LAW21 for two months free if you sign up for one of their paid plans. You can also download ComplYant's free Tax Planning Playbook by visiting bit.ly/3a82SFx.
Don’t stop the learning! Check out more AUIYB:
The ONE Thing You Can Do To Save Thousands on Business Taxes: • The ONE Thing You Can ...
Tips & Tools for Tracking Deductible Business Expenses: • Tips and Tools for Tra...
Small Business Tax Deductions Explained: • Small Business Tax Ded...
Business Expenses & Tax Deductions For Small Business: • Business Expenses & Ta...
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by 180 Law Co. LLC, with its principal office located at 1580 N. Logan St., Ste 660, PMB 92925, Denver, CO 80203. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with 180 Law Co. LLC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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#AllUpInYoBiz #SmallBusiness #Taxes

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30 июл 2024

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Комментарии : 26   
@allupinyobiz
@allupinyobiz 2 года назад
One of the most complicated and stressful aspects of owning a business is, of course, TAXES! Keeping track of your expenses and tax deductions, how and when to make estimated tax payments, self employment tax, saving for retirement with a SEP IRA, saving enough to pay taxes, it can easily become overwhelming. Thank you to our friends over at ComplYant for sponsoring this episode! ComplYant simplifies the process of filing taxes for small business owners. Visit bit.ly/3FnLvyK to take advantage of their FREE tax deadline calendar and use the promo code 180LAW21 for two months free if you sign up for one of their paid plans. You can also download ComplYant's free Tax Planning Playbook by visiting bit.ly/3a82SFx.
@kenisthistoo7499
@kenisthistoo7499 2 года назад
Another great video as always! Thanks buddy!
@rachaelwollard8161
@rachaelwollard8161 2 года назад
Awesome tips! Thank you so much! Opening my own business and your videos are so helpful!
@harleyehuffinejr2432
@harleyehuffinejr2432 2 года назад
Thank you very much, I appreciate it. All up in your business!!
@elodiekoldan2405
@elodiekoldan2405 9 месяцев назад
How do we know what to set aside for state and federal taxes? I’ve heard state specifics not not federal. Also, do we get taxed for Medicaid or anything else that would be on a normal paycheck working for a company?
@GetHelpTax
@GetHelpTax 2 года назад
Great video. Well done!
@trinitywave
@trinitywave Год назад
THIS WAS SO HELPFUL!! I wish you were in California Aiden!
@chandrakbandar2662
@chandrakbandar2662 Год назад
Thanks Aiden. Appreciated. Nice info...👍👍👍
@currentlyearth8867
@currentlyearth8867 2 года назад
She’s awesome!!!
@jennidelacreme3756
@jennidelacreme3756 2 года назад
Informative tips!!! This reminds me, as a business owner in their early stages of launching, is tax higher as an LLC or Sole proprietorship?
@KyHolliday2010
@KyHolliday2010 2 года назад
Sole is higher I believe
@freddybenelli9100
@freddybenelli9100 2 года назад
She has at least one video discussing the advantages of setting up as an S corp compared to a C corp which addresses a lot of questions about this kind of thing. IIRC, C-corps have to file a corporate tax return, which results in double-taxation. If you set up your LLC as an S corp (which you have to elect to do once the LLC is established), your business profits only get taxed on your personal tax return, and you may have to pay less in Self-Employment Tax than you would as a sole proprietor. Hope this helps!
@jennidelacreme3756
@jennidelacreme3756 2 года назад
@@freddybenelli9100 It was helpful. I'll check that video out. Thank you so much!
@allupinyobiz
@allupinyobiz 2 года назад
I answered your question in my newest video! Check it out at ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-SrGkYbAD25I.html
@adeletechavenger
@adeletechavenger 2 года назад
Good evening. Lioness. Ty
@lalo5648
@lalo5648 2 года назад
Nice video
@prince3580
@prince3580 2 года назад
Hello I was looking to hire you for TM application purposes but I know u specialize in Colorado im in Palmdale Ca i was wondering can u still work with A client outside your area ?
@allupinyobiz
@allupinyobiz 2 года назад
Yes I can! I can work with people in any state on trademark matters 🙂
@VeronicaMarce
@VeronicaMarce 2 года назад
I applied for a multi member LLC but they called it a partnership. Do you know if that word is used interchangeably? Super confused because I know there's a difference but my IRS letter says I should be completing a form 1065
@GetHelpTax
@GetHelpTax 2 года назад
The IRS doesn't recognize LLC's, even ones with multiple members, as LLC's are state entities. By default it's a partnership.
@VeronicaMarce
@VeronicaMarce 2 года назад
@@GetHelpTax Thank you!
@allupinyobiz
@allupinyobiz 2 года назад
I answered your question in my newest video! Check it out at ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-SrGkYbAD25I.html
@firstnamelastname-ve9gj
@firstnamelastname-ve9gj 2 года назад
505 error on their website for calendar
@sharpsichord
@sharpsichord 2 года назад
Probably a dumb questions but can a business make a charitable donation to reduce a tax bill?
@GetHelpTax
@GetHelpTax 2 года назад
Short answer...yes.
@TheRealRyebred
@TheRealRyebred 2 года назад
😍🙌🏻😍
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