Tax Benefits of a C Corporation: Better Than an LLC?

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This is an in-depth video on the tax benefits of a C-Corporation, also known as a C-Corp. Today, I'll compare the c-corporation vs llc and other business entity structures.
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There are still many advantages of Corporation that exists over an LLC, so in this video, what I want to do is cover:
- What is a C Corporation?
- The Advantages of a C-Corporation Entity
- Tax Benefits of a C Corporation
Timestamps:
Intro (0:00)
Liability Protection (0:24)
What is a C-Corporation? (2:25)
Advantage #1 (4:56)
Advantage #2 (6:50)
Important Note (7:45)
Tax Benefit #1 (8:15)
Tax Benefit #2 (11:35)
Tax Benefit #3 (12:48)
Tax Benefit #4 (13:50)
Tax Benefit #5 (15:50)
IMPORTANT NOTE (17:00)
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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).

Опубликовано:

14 июл 2024

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Комментарии : 61

@ftruth1905 Год назад

This is the best video explaining c-corporation & llc what I’ve seen so far

@LYFEAccounting Год назад

I’m glad to hear that, I put alot of effort into it

@GenieBarlan 5 дней назад

My thoughts exactly. Best explanation. I listened to many other videos, they hive me a headache. I wish RU-vid would bring this up first

@businessacc179 2 года назад

Excellent content. I’m starting a tech company and had a tax lawyer try to shame me for not founding the firm as an LLC. We proceeded as a C Corp in DE. Want to be ready for investors!

@chefhak Год назад

Great movie, I had to convert my LLC to c corp

@deniawiseone95 8 месяцев назад

@@chefhakYou didn't have to convert it if lm not mistaken. You could have formed a c corp & js put the baby (llc) underneath it 😊

@JamesAutoDude 2 месяца назад

Just keep in mind that opening in a different state doesn't prevent you from needing to open in your own state. You're actually doing some harm in some ways because you'll have to keep 2 states up to date lol Regardless you still have to register and pay the same amounts in your home state (or whatever you're doing business) Better to just open direct in your home state

@edgarandrade5820 2 месяца назад

I had a long talk with my CPA and decided to become a c corp. A lot of what cpa said you mentioned. Thank you

@Pktk222 Год назад

Thank you so much bro!! I’m tryna get my stuff together I filed for c Corp lol. I was scared and wanted to go back but this just blew my mind thanks.

@SimpleAbundance Год назад

Dropping a line to show some support. Thanks for sharing your knowledge 📈

@angellkemokai1432 5 месяцев назад

Thank you so much for this information. I needed guidance.

@stealydealies Год назад

MAN OH MAN. I was sooooooooo concerned about my income and taxes through a C-corp. I was suggested I file as a C-Corp but COULD NOT UNDERSTAND WHY Until this very video. Thank you so so so much.

@FinancialFreedomMadeSimple 2 года назад

Great content!

@user-on2eh3dl1p 5 месяцев назад

Very helpful information

@azizroshid890 Год назад

Thank you for the video. Please make a video about taking money out of your C Corp without being subjected to double taxation.

@ledfootdude 10 месяцев назад

Can't happen, if you don't want to be double taxed you need to do an S corp or LLC taxed as S corp but you can't do a lot of the stuff C Corps can do

@deniawiseone95 8 месяцев назад

You can borrow from the corporation & it wont be treated as taxable dividend. However the lrs might investigate the transaction to ensure its not a "disguised" dividend. This may require the loan be paid back at a reasonable interest rate.

@MarvillousBeats 7 месяцев назад

Well done thank you

@johnvaughn7278 2 года назад

thank you.

@emiliagamboni6644 2 года назад

Can you make videos about the different options if any for small business on health care. What is it required or helpful for a small business or sole proprietor?

@Whichofthefavors 2 года назад

I watch your videos and I am learning about taxes. Thank You so much. I have a question that I am hoping that you can answer please. I started a business a few years ago and purchased equipment, business cards, po box address and products to sell. However I didnt keep up with my website and literally made a few sales from my friends in the past 4 years. Not even $50.00. I had so much going on in my life. I am determined to get back on track this year and include my business when I file my taxes in 2023. So can I write off the equipment that I purchased, my business cards, products etc, anything I purchased for my business if I purchased it a few years ago? Im not sure how it would work for me. Or do I just include anything that I have purchased for my business this year 2022. I would really like your expertise advice. Thank You.

@samisartawi 2 года назад

Can you do a video that differentiate briefly all the entities that are available for business and which one is best for you !!

@LYFEAccounting 2 года назад

Great suggestion! I'll add it to the idea list

@mikejunk4285 Год назад

What are your thoughts on ROBS 401k business startups? I know they have to be a c-corp, but does it make sense for someone to do that if they will be the only employee of that business?

@beaut_ Год назад

So if I filed self employed but also have a llc thats registered to be taxed as a c corp how would I go about filing it?

@abundant_sy4158 6 месяцев назад

Question if you have an llc can you just use the c crop to just run it how does that work

@jayhudson2075 Год назад

Me too

@darkghostninja2962 2 года назад

Bro really Asserting that C hard

@certifiedangels9281 7 дней назад

Hello, is there a way to take a one on one class with you ?

@eleonzocaldeeon1131 2 года назад

Just a question can I change from sole to corporation even if I just have my license as sole proprietor?

@prettyybrwn 2 года назад

Yes you can. Call a lawyer a lot of times they give free info

@apriltownsend7362 2 года назад

🤔 Would you suggest a sole preparator if my product is sold in farmers markets and there is little risk of me being sued. When I expand I will have workman's comp. Thanks

@LYFEAccounting 2 года назад

Hey April, so what kind of product is it?

@LYFEAccounting 2 года назад

I had a similar thought, but wanted to see if the risk level of the product.

@JamesAutoDude 2 месяца назад

LLCs are just liability protection but still self employment. Same with S Corps (and LLCs electing S Corp). Thats why investors don't care about them The fees are all the same, just go C Corp (which is default if you're a corporation) There's plenty of ways to avoid double taxation and anyone who says otherwise just lacks knowledge.

@blec.g7522 Год назад

do you have video explaining how to switch S corp to C corp? thank you !!

@JamesAutoDude 2 месяца назад

You file a change with the IRS

@chicago9458 8 месяцев назад

Pretty informative bro. Check out how to pronounce “fiscal” 😉

@mike-ej9hz 2 года назад

Do I need to sign a prenup to protect my C Corp from divorce? Or is it completely separated from me?

@deniawiseone95 8 месяцев назад

I believe It's separated from you but when ur talking marriage and prenuptial l wud put that corp in a trust to really seperate & protect what's yours. Talk to a tax attorney or advisor tho.

@1HarlemBarbie Год назад

To make sure I understand a c corp. You are taxed at a corporate of 21%, then taxed on the dividends but you are not required to take dividends if you are a owner/shareholder, correct? Now are you required to pay yourself a reasonable salary like an s- corp?

@deniawiseone95 8 месяцев назад

Yes you pay youself a salary receiving your own w2 with taxes taken out.😊

@dennis-theguyfromitaly9787 2 года назад

But by being an LLC you can choose how to be taxed. So by being taxed as a C corp is not the same?

@LYFEAccounting 2 года назад

Correct. This video is meant to just breakdown the tax benefits between the default LLC tax rules and C corp tax rules

@nataliejerome4537 Год назад

You made several references to a company’s physical year. Did you mean fiscal year?

@davidli3742 10 месяцев назад

that was really weird lol

@TorracaEnterprises Год назад

What would happen if the C-Corp is owned by a LLC 100% ? How does the tax status effect the structure ?

@headlibrarian1996 10 месяцев назад

Nothing.

@crazycdn8327 5 месяцев назад

You can take loans out from your c-corp too at nearly any interest rate and term you wish. If you don't have outside shareholders with a say in the matter. Say for a family run business. Unless your wife votes it down lol.

@fritzbookman7243 2 года назад

As a C Corp. do you pay taxes on loans

@LYFEAccounting 2 года назад

No, you normally wouldn't pay any taxes on loans or credit lines unless it was converted into a grant or something, like what happened with the PPP loans