Search results “Small business owners salary”
Salary for Small Business Owners -- How do I Pay Myself?
http://indybiztvshows.com Tina Moe CPA and owner of A.C.T. Services answers the question asked by many small business owners: How do I pay myself?
Views: 12698 BizTV Shows
How much to pay yourself as the business owner
For more on how much to pay yourself as the business owner, visit Emily's site http://www.emilychasesmith.com For my business apps, books and coaching: http://www.glowingstart.com In this tutorial, Emily explains how much you should pay yourself as the business owner when you start your own business. Emily suggests that an entrepreneur who starts a business should not pay themselves too much because any money that they pay themselves, they take right out of their business. Here is my book on starting a business. http://www.amazon.com/Business-Start-up-Ideas-Comprehensive-entrepreneurs/dp/1495261840 Also check out my business apps that can help you start your business. http://www.problemio.com Emily makes great points about how much to pay yourself as a business owner. My favorite point, and one I still think about, is that as the business owner, when you pay yourself out of the revenue and profits of the business, you are essentially taking money out of the business, which can't be too good for the business. Book on going from business ideas to starting a business: https://www.youtube.com/watch?v=XtmJEeZmiig What is a business model: https://www.youtube.com/watch?v=dsUz6lfXCkE Video of step by step process on how to start a business: https://www.youtube.com/watch?v=goGyLtvKNeA What is a business plan https://www.youtube.com/watch?v=T63QsuNIwZA Course on how to start a business: https://www.youtube.com/watch?v=kgyLxrhgdAk Fundraising course on how to raise money: https://www.youtube.com/watch?v=EwT3oXlCRdA Fundraising strategies book: https://www.youtube.com/watch?v=wczuIohbG7k Hiring tips and strategies: https://www.youtube.com/watch?v=LEPLs1dOBZg Entrepreneurship playlist: https://www.youtube.com/watch?v=c1fcvHu26XQ&list=PLAgq5S6WQmzFQsL2NvOU2wVGnz92xhPEA How to protect business ideas with NDA https://www.youtube.com/watch?v=3LQtO7q8xug Top reasons why businesses fail: https://www.youtube.com/watch?v=yXZ9IT-bUw4 How to start a business with no money https://www.youtube.com/watch?v=8gTZknxNoZg What is ab testing and how to do ab testing: https://www.youtube.com/watch?v=BTjGBwRBI10 How to work from home efficiently and be productive: https://www.youtube.com/watch?v=S0OIf6R-sak Different types of business risk: https://www.youtube.com/watch?v=NlQgo1KYEqw Should you use a web hosting company for a website: https://www.youtube.com/watch?v=Ba69JkQLqwY How to open your own franchise business: https://www.youtube.com/watch?v=A_cnPMNJLRs How to pitch your business: https://www.youtube.com/watch?v=m8F6kVEUqIE How to stay motivated as the entrepreneur starting a business: https://www.youtube.com/watch?v=OURdhu3AVNI How to find business partners and co founders: https://www.youtube.com/watch?v=SJ0diYwM3Wk Starting a business with no experience: https://www.youtube.com/watch?v=PWbQtguyywk Entrepreneur health: https://www.youtube.com/watch?v=60OVfcYw1uw How to manage your time as an entrepreneur: https://www.youtube.com/watch?v=M96v03kCMkI What is a business mission statement and why it is needed https://www.youtube.com/watch?v=0c8_8YV47ug How to get out of poverty by starting a business: https://www.youtube.com/watch?v=20eX43HsaIo What is a real estate appraiser and how to become one: https://www.youtube.com/watch?v=lMvY3umALt4 How to become a commercial real estate agent: https://www.youtube.com/watch?v=L7x0PwUrz3M Funny business skit: https://www.youtube.com/watch?v=wHqz3lIdoxs
How To Pay Yourself as a Business Owner
How to pay yourself as a business owner: watch the video for advice on paying yourself as a small business owner from Nashville CPA Evan Hutcheson (http://www.evanhcpa.com). In the video, I go over certain issues regarding payroll for startup companies in Tennessee. One of the first, and most important, things you need to make sure you understand and do correctly is how to pay yourself as a business owner, and paying your employees if you have any employees. First you need identify the type have entity that you are, whether it’s an LLC or a corporation. If you're an LLC and you have no employees, then you do not actually need to set up payroll for yourself. You can simply transferring money from your business account to your personal account to pay yourself as the business owner. It's always a good idea to set up some sort of budget to establish control over the withdrawals that you make. If you're a corporation on the other hand, with or without employees, you still need to set up payroll. Shareholders of corporations pay themselves through payroll instead of taking withdrawals like an LLC owner. As I go over in the video,there are many ways to pay yourself as a business owner when doing payroll. You can hire a payroll company to issue your payroll, try to do it yourself or have a CPA do it. It is possible to do it yourself if it's not very complex. In that case you can just use a spreadsheet. I go through an example in the video showing you what categories you need for a spreadsheet: gross pay; net pay; payroll tax liabilities; employer and employer social security; and employer Medicare tax, both of which are tax deductible by the way. I go into these categories in depth. So watch the video to learn about how to pay yourself as a business owner. Please share this video about paying yourself as a business owner: http://www.youtube.com/watch?v=2QAmJFD4V8k Subscribe to my Channel: http://www.youtube.com/user/EvanHutchesonCPA Follow Me: http://www.facebook.com/EvanHutchesonCpa http://twitter.com/Nashville_CPA http://plus.google.com/+Evanhcpa/about http://www.linkedin.com/pub/evan-hutcheson/30/909/746 You might like this video too: http://www.youtube.com/watch?v=THzREyqpjbE How To Pay Yourself as a Business Owner Startup Business Tennessee
Small Business Owner Salary – Also Get Answers To These 3 Questions
http://ew.becomewealthystartingtoday.com - Small Business Owner Salary You probably want to know what’s a typical small business owners salary before you make the decision to start your own business. If yes, based on my own business experience I would say a good figure is a minimum of $200,000 per year. In addition to researching the average income, before you take the leap you should also consider a few other things. Will you be able to follow your passion in your business? Will you be able to work when you want? Will you be able to work where you want to work? My current business allows me all those benefits as well as the potential for a significantly higher income. Although the amount of a small business owners salary is important it is not everything. If you are interested in learning more about what I do click the above link. https://www.youtube.com/watch?v=fiYpLlDKce8 Below are some other interesting articles about Small Business Owner Salary 5 Tips for Setting Your Salary as Business Owner | The U.S. Small ... https://www.sba.gov/.../5-tips-setting-your-salary-busin... Small Business Administration Mar 19, 2012 - As a business owner, setting your own salary can be a tricky task, especially in markets that see highs and lows. Here are a few tips to help you ... Small Business Owner / Operator Salary - PayScale https://www.sba.gov/blogs/5-tips-setting-your-salary-business-owner More often than not, a Construction Project Manager role is the next step for Small Business Owners and Operators moving up in the field. Construction Project Managers usually make $70K per year. Many other Small Business Owners and Operators choose to take on an Office Manager role, where salaries are typically $38K. business - Paying Yourself: From Startup and Beyond - Entrepreneur https://www.entrepreneur.com/article/80024 Entrepreneur business - Paying Yourself: From Startup and Beyond - Entrepreneur.com. ... Now, but overhead minus owner salary grows by 12 percent to $202,675, or about ... If you're the owner of a small, privately owned C-corporation, the IRS will look ...
Views: 752 Chris Thompson
How Do I Pay Myself in a Single-Member LLC? - All Up In Yo' Business
Learn more about 180 Law Co. LLC by visiting http://180lawco.com. One question that I get asked quite often, because it’s a really good question, is how the owner of a single-member LLC is supposed to pay him/herself. There are two possible answers to this question, depending on how the LLC is taxed. Unless the LLC elects otherwise, a single-member LLC is considered a “disregarded entity” and all of the income to the LLC is treated as income to the business owner, and is all subject to self-employment tax. So basically, the owner of a single-member LLC can pay himself however and whenever he wants, keeping in mind a few important considerations: 1. Make sure you are prepared to pay taxes. Since the LLC is a disregarded entity, if the business earns $100k but you only “pay” yourself $50k, you are still going to be responsible for paying all of the taxes, including self-employment taxes, on the full $100k. (For simplicity’s sake, I am pretending there are no deductions or anything.) So you need to set aside enough money to make sure you can cover your taxes. 2. The business has to remain adequately capitalized. This means that you need to keep enough money in the business to cover all your overhead, debts, bills, salary for employees, etc. You should also leave some extra “padding” for possibly building up your business, purchasing equipment, and whatever else you may decide to do with your business. In the books, any payments to yourself should be recorded as “Member Distribution” or “Member Withdrawal.” If the LLC elects to be taxed as an S Corporation, on the other hand, you have to be paid a “reasonable” salary. Self-employment taxes will only be paid on that salary rather than on the full amount of profit the business earns. Any money that the business owner takes above that reasonable salary is considered a dividend and won’t be subject to self-employment taxes. To learn more about S Corporations, watch my earlier video What the Heck is an S Corporation at http://youtu.be/i5to7Da3wMw?list=UUNh7tqEn68tf0oOfq4NsFsg If your LLC is not taxed as an S Corp, you don’t need to put yourself on payroll, since those member distributions aren’t treated as normal payroll. If your LLC is taxed as an S Corp, then the salary you earn can be part of your payroll, and any additional dividends will be separate from that. Whether or not you elect to have your LLC taxed as an S Corp and how to handle and record the money that you pay yourself is an important conversation that should be had with your accountant, bookkeeper, & attorney. Doing it the “right” way can help minimize your tax liability and can make your life (and that of your accountant) much easier come tax time. Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/AUIYB 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 50 S. Steele Street, Suite 250, Denver, CO 80209. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship 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. All Up In Yo’ Business® is a registered trademark of 180 Law Co. LLC. ©180 Law Co. LLC. All rights reserved.
Views: 356228 180 Law Co. LLC
Pay Less Taxes: Tax Tips for Side Hustlers and Small Business Owners
http://www.sidehustlenation.com/pay-less-taxes-your-tax-questions-answered/ Josh Bauerle is the CPA on fire at cpaonfire.com. Josh specializes in tax preparation, tax planning, bookkeeping, and general consulting services to take the accounting side of your business to the next level. Just 30 minutes with Josh about a month ago saved me thousands of dollars, so you owe it to yourself to listen to this episode and see if you can put some money back in your pocket too. In this episode, Josh goes into detail about the tax implications with each type of business entity you can form, as well as how you can potentially save thousands of dollars by registering as an S-Corp. Josh also covers which expenses are deductible to your business, how to include health insurance as a tax-deductible, and how you can reduce your tax bill by investing more into retirement accounts. He also spends some time explaining the often confusing issue of how much sales tax FBA sellers should be paying and under which state tax laws, as well as recommending a service to automate the process. Tune in as Josh answers several questions from the Side Hustle Nation community and shares some of his best tax saving tips and advice. This isn’t another one of those dry conversations around tax, it’s packed with actionable tips and advice to help you put more money back into your pocket. Grammar police: I understand it should either be “pay less tax” or “pay fewer taxes” … but sometimes search popularity trumps grammar :) For the full notes, links, and to download the free PDF highlight reel from this episode, please visit: http://www.sidehustlenation.com/pay-less-taxes-your-tax-questions-answered/ -Video Upload powered by https://www.TunesToTube.com
Views: 19735 Nick Loper
30 Small Business Ideas with Low Investment & High PROFIT
Introducing top 30 small business Ideas with low Investment & High Profit. Earn Part Time - How to Get Rich with Blogging - https://www.youtube.com/watch?v=Df2VUmGN6AM These 30 small business ideas specially dedicated to all indian business owners and small business entrepreneurs. If you are thinking to start your own business in 2017 or 2018 then, you can start with these 30 small business ideas. These business ideas are set as low investment and High profit. If you found any questions or issues for starting any business then, feel free to ask your questions in comment box. Thanks for watching 30 small business ideas with low investment and high profit.
Views: 1216920 Young Entrepreneurs Forum
How Much Do Small Business Owners Make – Money Is Not Everything
http://ew.becomewealthystartingtoday.com - How Much do Small Business Owners Make I’ve been asked time and time again how much do small business owners make. Based on my thirty years of business experience I think a good minimum number should be $200,000 per year or at least an opportunity to be earning that within three to five years. Beyond that you should consider a few other important issues. Find a business you’re passionate about, ensure that it will allow you to work when you want and where you want. I’m lucky to have a business that gives me all those benefits while allowing me to earn a significant income. I can work from anywhere in the world whenever I want. If you are curious as to what I do and learn how much do small business owners make using it click the link. https://www.youtube.com/watch?v=Hx7UA5V0aA4 Other url links discussing how much do small business owners make How Much Money do Small Business Owners Make? http://smallbiztrends.com/2010/11/how-much-money-do-small-business-owners-make.html Nov 15, 2010 - Many people are curious about what the average small business owner earns. The IRS Statistics of Income provides some data on the average ... 6 Dumb Money Moves Most Entrepreneurs Make | Inc.com http://www.inc.com/minda-zetlin/6-dumb-money-moves-most-small-business-owners-make.html Jan 19, 2015 - So most small business owners, especially mom and pop shops and ... Incorporating isn't as tough as many people think--it's usually a simple ... didn't tell the insurance company that you have a business there, that won't do it. Small Business Annual Sales - How much money do they make? http://www.businessknowhow.com/money/earn.htm According to the US Census Revised 2008 Nonemployer Statistics Table, the average annual sales for the nation's 21 million nonemployers is only $43,645. For the 3.7 million small businesses with 1 to 4 employees, the Census Bureau figures show average annual sales in 2007 were $387,200.
Views: 1479 Chris Thompson
How to Pay Yourself in a Single Member LLC
In today's video, I share with you the proper method to pay yourself if you own a Single Member LLC. Single Member LLC's are one of the most powerful and flexible legal entities that most online entrepreneurs use to protect not only their business, but also their personal assets. However, if you don't set up the LLC properly, it won't provide you any protection at all. Today we talk about how to pay yourself if you have set up a Single Member LLC. This will be especially helpful for you solopreneurs out there who are building businesses on the side. To schedule a phone conference: http://bit.ly/2KLHyIE Support my channel on Patreon: http://bit.ly/2E3FOd7 I've written a more in depth blog post on this issue at my website: http://bit.ly/2a2GMYy I have also prepared a business building legal checklist that you can download at the following link: https://www.hawthornlaw.net/cheatsheet For more information, you can check me out at: http://www.hawthornlaw.net Or find me on Social at: Twitter: http://www.twitter.com/hawthornlg Snapchat: @jimhart518 Facebook: http://www.facebook.com/hawthornlaw Or join our free online community at: http://www.hawthornlaw.net/facebook
Views: 216400 Hawthorn Law
Help small business owners, earn a great income
https://goo.gl/Uf82dy Follow the link to learn more and get started today! Training provided, no cost. https://goo.gl/Uf82dy
Views: 78 Pete Greenway
How To Keep Track of Your SALES & EXPENSES! // Small Business Owners
Learn how to keep track of your sales and expenses! *Download the Bottomline App Here: http://goo.gl/pjKQyc Visit: https://www.bottomlinehq.com/ _____________________________________________________________ I hope you all enjoyed and found this video helpful! Bottomline is perfect for any small business owners (e.g. Boutique Owners, Photographers, Wedding Planners, Consultants, etc.). As a traveling Boutique Owner, Bottomline has helped me stay organized and keep track of my sales, customers, and expenses! I love the fact you can keep track of all of your different sale outlets! This is great if you sell on Amazon, Ebay, Etsy, Poshmark, Vinted, Tradesy, Pop-Up Shops, Festivals, Website, etc. ================================================== Let's Be Friends! Website: http://www.MonikaRoseSF.com Instagram: @monikarosesf Snapchat: itsmonikarose Twitter: itsmonikarose FaceBook: Monika Rose San Francisco Pinterest: @monikarosesf Poshmark: @itsmonikarose Vinted: @itsmonikarose _______________________________________________________________ Coupon Codes: -My Boutique: 20% OFF your entire purchase. Code: YouTube20 http://www.MonikaRoseSF.com -Poshmark: $5 Credit when you join. Code: HJYKH -*JustFab: Deal on my favorite shoe website. http://goo.gl/nC3NJB -Rocksbox: 1st month FREE. Use Code: monikarosesxoxo http://www.rocksbox.com ====================================================== Business Email: [email protected] New PO Box coming soon! ---------------------------------------------------------------------------------------------------------. FTC: This video was sponsored by Bottomline. I am so excited to be able to work with a company I have truly enjoyed, and have the opportunity to share it with you all! :) *Some links are affiliate links.
Views: 23658 MonikaRoseSF
Business Owner? or Self-Employed? The Difference.
Learn more at http://www.nevercoldcall.com/quitsales Business Owner? or Self-Employed? The Difference is that a business owner owns a SYSTEM that generates income whether the owner chooses to work or not. A self-employed person creates a JOB that requires work for income, or in other words, trading time for money the same way you would working for an employer. Credit to Robert Kiyosaki, Kim Kiyosak, Sharon Lechter, and The Rich Dad Company for the Cashflow Quadrant™ Learn more at http://www.nevercoldcall.com/quitsales
Views: 3672 Frank Rumbauskas
Small Business Owners Salary – Minimum Amount To Consider
http://ew.becomewealthystartingtoday.com - Small Business Owners Salary My perspective is that your small business owners salary should provide a very significant income based on the value to deliver to your customers. My opinion is that your chosen business should provide you the business owner with an income potential of at least $200,000 annually. My experience of owning five (5) different businesses is that you will make a lot of sacrifices that non-business owners never have to make. You should be compensated for your efforts and risk that you have chosen to take. Assuming you desire to make a significant income there are three main points you should consider when selected your business ownership options. In my video I provide food for thought for you when considering these points. In mid-2014 I was able to find a business opportunity that exceeds my expectations for these points. I now have the time freedom to do what I want, when I want wherever I want. I am meeting my expectations of my small business owners salary with the potential to far exceed it. If you are curious as to what I’m doing click on the link above. https://www.youtube.com/watch?v=XGnNIZLY5Ig
Views: 75 Chris Thompson
How do small business owners show the right income for home loans?
On the Real Estate Rat Pack Radio show, caller Tish asked how she (as a small business owner) would show income that qualified her for a home loan when she puts her money back into her business and doesn't take a check.
Views: 144 RealEstateRatPack
Small Business: How Do I Pay Myself in a Single-Member LLC
This video helps answer some of the most basic, common questions about how to pay yourself in a Single-Member LLC.
Views: 1735 Ashley Cameron
Should I Pay Myself Salary or Dividends from my Corporation?
Should I pay myself salary or dividends from my corporation? This is a very common question that I encounter in my accounting practice in Mississauga & Oakville, and the answer can make a big difference in your bottom line. http://madanca.com/blog/should-i-pay-myself-salary-or-dividends-from-my-corporation-as-a-business-owner/ Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table of contents 00:46 -- Salary (Advantages) 02:04 -- Salary (Disadvantages) 02:48 -- Dividends (Advantages and Disadvantages) 04:27 - Breakdown About the Author -- Allan Madan -- Accountant Mississauga Allan Madan is a Chartered Accountant and a Tax Expert in the Toronto, Mississauga and Oakville regions of Ontario, Canada. If you found this article useful, Allan Madan encourages you to visit his website http://madanca.com for additional tax tips and more information on this topic. Also, get access to Allan Madan's Free Report, "20 Tax Secrets on How to Beat the Tax Man," http://www.siteproweb.com/20-free-tax-secrets-from-allan-madan Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 59308 Allan Madan
Avoid Paying Taxes Legally!!! The Power of A Home-based Business
Chinaza Duson, Small Business Tax Strategist, is also a highly sought after Tax Strategist empowering thousands w/advice on why the MUST own a homebased business. Now! Connect with me and START a legitimate homebased business TODAY: http://www.workwithcoachchi.com Chinaza Duson | 404.464.6733 | [email protected] www.certifiedtravelconsultant.com - my business of choice Text Chinaza to 40691 1st Email: [email protected] | 404.464.6733 | 2nd Email: [email protected] | 404.229.5566 - Secondary | NOT only am I #homebased business strategist, a certified tax preparer. I am a National Diamond Council Team Leader in Paycation Travel. We have the perfect vehicle to help you maximize on these amazing tax breaks I speak on here! Contact me today to get started http://www.browngirlgone.com ---- (travel blog) http://www.goodgirlstravel.com (the best tax deductible business) http://www.truthinduced.biz (www.yourtaxgirl.com)
Views: 339299 Chinaza Speaks
Small Business Tips Video #16 - When Should a Small Business Owner Start Paying Themselves
http://greatbusinesscontent.com Small business owners must learn to pay themselves. When is the best time to start that? The first month they are in business! Created by Great Business Content, this small business video shows how important it is for the owner to start paying themselves right away. It doesn't need to be much, just enough to establish the pattern. When Should a Small Business Owner Start Paying Themselves? Starting your own small business often starts with a dream of replacing your current income and possibly earning more while doing what you love. As many successful business owners will tell you, it's not going to be the dream you imagined and when it comes to paying yourself a salary, it may feel more like a nightmare. It's not uncommon for the owner of a startup venture to not be able to afford to pay themselves for years. David Frick of Success Ventures in Louisville Kentucky helps businesses set up a strong structure that is sustainable and scalable. He says there are five categories of people that absolutely must get paid; owners, managers, sales and marketing personnel, production and administration. But establishing a structure of payment doesn't mean that you will see huge profits, it just means you have the framework there to start receiving more pay when the time comes as Frick explains, "It might be that as an owner you pay yourself five bucks a month." You can see that this is really about establishing a pattern that you can stick to and that will allow you to pay yourself more when your small business is earning more. Another thing to consider when you're starting your own small business is growing that business. If you do happen to be one of those companies that start off making a profit, you'll want to reinvest some of that money back into the company to purchase more inventory and restock the shelves. You may need to hire more staff so you can expand or keep up with orders. These are all considerations that may take a priority over you actually getting a paycheck from your small business. Obviously, this is something that should carefully be reviewed before you start your own small business as your own living expenses need to figure into that equation somewhere. The most successful small business owners plan for all eventualities so that both they and the business can survive. http://youtu.be/sZqbRhf7sZc
Views: 2524 Steve Freeman
How to Pay Less Tax (Legally) - Robert Kiyosaki
Robert Kiyosaki will be speaking LIVE in: South Africa: http://www.nacsouthafrica.com/tv Catch PART 1 HERE:https://www.facebook.com/srseminars/videos/1118521498191246/ Subscribe to access more great videos, or check out: www.SRPL.net ========================== One of the reasons the rich keep getting richer is because when people say “Go to school and get a job” they’re telling their kids to become employees or small business owners. How much tax do they pay? Regular employees pay about 50% in tax while self-employed people like doctors, lawyers & accountants pay 60% tax. Business Owners on the other hand pay 20% tax with investors paying 0% tax. It is absolutely possible to go around paying 0% tax. You don't have to be a crook to not pay taxes, you just have to be smart. In fact, the government wants you to pay no tax. They use taxes as incentives to get you to do what they want you to do. The reason I pay no taxes is because I have four houses I live in but five thousand houses I rent out. By me providing housing, I pay zero tax -- because that's what the government wants me to do! - Robert Kiyosaki ========================== Robert Kiyosaki will be speaking LIVE in: South Africa: http://www.nacsouthafrica.com/tv Catch PART 1 HERE:https://www.facebook.com/srseminars/videos/1118521498191246/ Subscribe to access more great videos, or check out: www.SRPL.net
Views: 107429 Success Resources
How Do I Budget A Small Business? Plus Self Employed Taxes 101
"If you're self-employed, you pay the combined employee and employer amount, which is a 12.4 percent Social Security tax on up to $127,200 of your net earnings and a 2.9 percent Medicare tax on your entire net earnings." -SSA.Gov https://www.ssa.gov/pubs/EN-05-10022.pdf Quarterly Business Tax Payments "The rule is that you must pay your taxes as you go. If at filing time, you have not paid enough income taxes through withholding or quarterly estimated payments, you may have to pay a penalty for underpayment." - TurboTax https://turbotax.intuit.com/tax-tools/tax-tips/Small-Business-Taxes/Estimated-Taxes--How-to-Determine-What-to-Pay-and-When/INF12007.html Tools: Budgeting, Debt Snowball, Investing, Creditors http://gatewaypeople.com/ministries/stewardship/resources Website - http://gatewaypeople.com/ministries/stewardship Facebook - https://www.facebook.com/gatewaystewardship/ Instagram - https://www.instagram.com/gatewaystewardship/ Twitter - https://twitter.com/gwstewardship
Views: 29169 Gateway Stewardship
Small business owners will pay you $500 for a 30 second video like this!
If you're a photographer or a videographer, you can create a short 30 seconds video like this to make $500 with local small businesses! You don't have to have a fancy camera! I started creating videos like this using my iPhone slo-mo feature and made thousands of dollars! If you're interested in more contents like this, comment down below! // ★Gear I’m currently using★ MAIN CAMERA : https://amzn.to/2LHy6c7 LENS : https://amzn.to/2M2AnLF Rode Video Mic Pro+ : https://tinyurl.com/ydekvtry Joby Gorilla Pod : https://tinyurl.com/y8gy3wbx Manfrotto Twistgrip : https://tinyurl.com/ybw4wmoa Moment Lens : http://momnt.io/2j5j82P Ollo Clip : https://tinyurl.com/y8fty6pj // ★Let’s connect on social media★ THE ICE KITCHEN : www.instagram.com/the_icekitchen ME! : www.instagram.com/thisisdantheman TWITTER : www.twitter.com/the_icekitchen FACEBOOK : www.facebook.com/theicekitchen SNAPCHAT : the_icekitchen WEB : www.theicekitchenatl.com // ★Visit my store // send PR packages to★ 840 Ernest W. Barrett Pkwy NW Suite 300 Kennesaw Ga 30144 // Not all, but some links may contain affiliate links that I earn certain percentage of your purchase. It does help me out, so thank you if you do click through my link and purchase something! //
LLC vs. S Corporation: What's the Difference for Small Business Owners?
Sole Prop, LLC, S-Corporation: What's the difference between the three? Guest host Will Lopez -- Founder and Owner of Advisorfi.com -- will break it all down for you. (Check out Will's channel: https://goo.gl/1APR7p) Single-member LLCs can be taxed in two main ways: as a Sole proprietorship or as an S-Corporation. Here are some key differences between the two, explained in the video: *Setup* -- An LLC taxed as a sole prop is the default structure: So if that's what you want, no further setup is needed -- An LLC taxed as an S-Corp needs to be set up that way (work with your CPA to elect S-Corp status!) *Paying yourself* -- If you're an owner of an LLC taxed as a sole prop, the main way to pay yourself is through distributions, otherwise known as "owner's draws." -- If your LLC is an S-Corp, then the main way to pay yourself is through payroll, though you can take distributions as well. -- If you pay yourself through payroll, however, the IRS advises you take a "reasonable compensation." Watch this Advisorfi video to learn more: https://www.youtube.com/watch?v=_BranqWpYWw *FICA taxes* - If you're an LLC taxed as a sole prop, then all of your net income is subject to FICA taxes - As an S-Corp, only payroll wages are subject to FICA taxes Want even more small business resources? Check out: ---> [WATCH] How to Pay Yourself as a Sole Prop: https://goo.gl/i5yDQ2 ---> [WATCH] How to Pay Yourself as a Single-Member LLC: https://goo.gl/Z78Kxt ---> [WATCH] For amazing tips and tricks for running small businesses, check out Will's channel: https://goo.gl/1APR7p ---> [READ] How to calculate your self-employment tax in 4 steps: https://goo.gl/aXPZvE What's Ask Gusto? Ask Gusto is a YouTube series designed to answer your top payroll, HR, and benefits questions. New episodes come out regularly — feel free to ask what's on your mind, and we'll answer it! Who is Gusto? Gusto serves over 40,000 small businesses across the country with a refreshingly easy payroll, benefits, and HR solution. To learn about Gusto, visit: https://www.Gusto.com. Who is Advisorfi.com? Advisorfi.com is an online accounting and consulting firm for the next generation of business owners. For more small business answers, visit us at: https://www.gusto.com/ask-gusto
Views: 2827 Gusto
How Do Small Businesses Pay Taxes?
Learn More: https://informationstation.org/
Views: 39190 Information Station
7 Record Keeping Tips for Small Business Owners
As a child care provider, I have to keep track of tons of paperwork and records. The most daunting task is always entering expenses and filing paperwork before it piles up into a giant mountain. Many people put it off until the start of the new year and then have to spend a ton of time getting everything in order, only to most likely lose out on deductions due to too much time passing leaving people forgetful of what they purchased. In this video, I share seven tips to make this year a much better year for keeping track of your tax documents so when next year rolls around, you can relax while others are scrambling! ------------------------------ HOUSE TOURS: https://www.youtube.com/playlist?list=PLNbrmIjuytLF9ckfuVyHu891s4Ct4oqr0 CHECK OUT OUR DAILY VLOGS (2016): https://www.youtube.com/playlist?list=PLNbrmIjuytLFhma9ZcL4Vu9Cv3OexxDLv CHECK OUT OUR MOST LOVED/USED ITEMS: http://astore.amazon.com/houmadofmar02-20 Finance Followers: If you want to check out Capital One 360 that we've mentioned in many videos (and LOVE), sign up for a checking or savings account using the following link, and you will earn $25: https://r.capitalone360.com/9Mhw5NEerz We SO appreciate all of our subscribers! You all are amazing human beings who make our lives so much better! Thank you for taking time out of your day to watch our silly little videos and for leaving such sweet, genuine comments. You make our days brighter! *Links may contain affiliate links to products we use and love. We never share or link to anything we don't love ourselves, but we appreciate if you click and help support our aim to spread the marital love from our little home on the internet. :) Music by Epidemic Sound (http://www.epidemicsound.com)
Views: 73745 Work Life Glue
How Pass-Through Income Will Be Taxed In 2018 For Small Business Owners
As a result of tax reform, starting in 2018, the new 20% Qualified Business Income deduciton will be available to small business owners. This video will review how the QBI deduction works, what entities are eligible, the phaseout ranges, the restrictions, and how services vs non-services businesses will be treated under the new tax rules.
Salary vs Dividend
This video compares the difference between Salary and Dividend. It also talks about the tax consequences of a salary and dividend. This is for entrepreneurs, small and medium size business owners and anyone else who is thinking about starting a business in the near future.
Views: 3950 Canadian Tax Guide
Small Business Tax Advice and Tax Deductions
The absolute most Important Tax Planning Strategy/Tool You NEED. This is a Cornerstone to Business planning and preparation. This will Change the way you OPERATE. Please watch and share with Anyone You care about. This Tax Advice is perfect for small business. Tax Relief and Tax deductions reviews. DirtMonkeyU.com and DirtMonkeyUniversity.com The Landscape Business Pro Podcast- The Voice of the Landscaping and Construction Industry. http://landscapebusinesspro.com Genadek Landscaping and Excavating genadek.com GT Lawn Maintenance GTLawns.com Linked In- Hit me up! https://www.linkedin.com/profile/preview?vpa=pub&locale=en_US Twitter: https://twitter.com/LBPpodcast Facebook: https://www.facebook.com/stanley.genadek Email: [email protected] Dirt Monkey: https://dirtmonkey.net Links to Episodes of Landscape Business pro: Greg Chism Geek to Freak Fitness and Lawn Care https://www.youtube.com/user/geektofreakfitness http://landscapebusinesspro.com/geek-to-freak-greg-chism-monetizing-youtube-videos/ Jonathan Pototschnik The Lawn Care Millionaire http://lawncaremillionaire.com http://landscapebusinesspro.com/jonathan-pototschnik-how-to-become-a-lawn-care-millionaire/ Brian Shain Top Notch Lawns https://www.youtube.com/user/TopNotchLawns http://landscapebusinesspro.com/brian-shain-of-top-notch-lawns/ Jordan Harbinger The Art of Charm https://itunes.apple.com/us/podcast/art-charm-confidence-relationship/id212382281?mt=2 http://theartofcharm.com http://theartofcharm.com/best/ http://landscapebusinesspro.com/jordan-harbinger-the-art-of-charm/ Keith Kalfas The Landscape Employee Trap https://www.youtube.com/user/TheEmployeeTrap LandscapingEmployeeTrap.com http://landscapebusinesspro.com/keith-kalfas-landscaping-employee-trap/ Mike Michalowicz http://www.mikemichalowicz.com Profit First, Pumpkin Plan, The Toilet Paper Entrepreneur http://landscapebusinesspro.com/mike-michalowicz-profit-first/ John Lee Dumas Entrepreneur on Fire http://www.eofire.com http://podcastersparadise.com http://landscapebusinesspro.com/john-lee-dumas-entrepreneur-on-fire/ More guests: Vanessa Van Edwards The Science of People, John Gray Men are From Mars Women are from Venus, Certified Contractors Network, Jennifer Kahnweiler: The Introverted Leader, Quiet Influences, The Genius of Opposites, Barry Moltz, YardBook, Aaron Walker
How do I pay myself from my small business?
If you are a sole proprietor or a single member LLC, it's really easy to pay yourself from your small business. In this video learn how to pay yourself, how much you can pay yourself, and how often you can pay yourself from your small business. You will walk away knowing, "How do I pay myself from my small business?" Get your FREE Small Business Startup Checklist - https://www.SmallBusinessSarah.com/newsletter Have more small business tax and accounting questions? I love helping micro business owners like bloggers and Etsy sellers get a handle on their bookkeeping needs and tax questions. Get the answers you need at https://www.SmallBusinessSarah.com This video is for informational purposes only. Consult your accountant or tax professional for advice on your unique situation.
Views: 84 Sarah Korhnak
How much tax will I pay? UK tax advice for Business Owners
http://www.incauk.biz/ Hi, I'm Graham from Inca Chartered Accountants. One of the questions we get asked most frequently from our clients -- "How much tax will I pay?" Well, as soon as your accounts are done we will know to the penny, but of course that may happen several months after your financial year end. And it's great to have an idea of how much tax you are likely to pay well in advance of that. So what I'm going to show you is a way to estimate your tax liability. It is only an estimate. We won't know for sure until your accounts are done but it will give you something as a guide as you look ahead through the course of the business year. The amount of tax you pay is dependent upon the type of business you operate. So in this video we are going to look at the two main types -- the sole trader and the limited company. If you are a sole trader you can earn roundabout £7,500 a year in profit, not sales, that's your sales and then take off your costs and your not going to pay any tax on that money. But as soon as you go above that level you are going to start paying tax at a rate of 20%, the same as somebody in employment. But you are also going to have Class 4 National Insurance. Now that kicks in at 9% making your total tax hit 29%. Now the Class 4 National Insurance is interesting because people think my National Insurance - I get a pension, I get hospital cover. Yes, you have already paid for that in a direct debit that goes out of your account every month. This is just tax. You do not get any extra benefit from having paid it. So in order to work out how much tax you have to pay we need to look at your profit month-on-month. You take your sales, subtract your costs, not your drawings, that's money you take out. Put them to one side for the moment. Once you have got that profit situation in place, £600 every month that's yours free, nothing to worry about. But after that £600 you need to put nearly a third away. That is one third for the government, two-thirds for you. Stick it in a cash ISA. It gets paid in January of each year, but be careful because you may also have what is known as a payment on account if your tax bill is high and that's going to kick in, in January and July . Now the Limited Company is completely different because you are not taxed. It is the company that is getting taxed. And the company does not have any tax free amount that it can earn year after year. Company pays tax as soon as it makes £1 of profit and it pays tax at a rate of 20%. That's 20% on all its profits way up to a quarter of a million pounds approximately. Now that's a 9% saving for most average earners. That's most significant. A company has to pay its tax 9 months after its financial year. So calculating it. You take your sales subtract the expenses the business incurs. That's your costs, salary perhaps, supplier invoices and that gets you your profit before tax comes off. Then put 25% away to be on the safe side. So it's a quarter for the Government and three quarters for you. That's what you can have as your dividend income. One of the pit falls of many businesses get into. They think there's my profit, I'm going to take a dividend and get a tax on the dividend. Now that's wrong. Tax gets paid on the profit and then it's your bit. The dividend - that comes afterwards. Remember what I've just told you. It's about estimating your tax bill. If you want to know exactly how much tax you are going to pay send us your accounts. In the next video I'm going to talk about How to get a dividend out of your company.
Views: 32540 oxfordaccountant
Determining Business Value - The Income Method
Discover more about this straightforward, common sense approach to help you value a business with the Income approach. Whether you are buying a business or selling a business, this simple explanation of the Income valuation approach will be helpful and will give you something to use as comparison when talking value with brokers or colleagues. Basic, rule-of-thumb lessons such as this one can't consider all of the small details involved in determining an accurate business value, so don't make a purchase or sale based only on this. Talk to your current business advisors about how cash flow and cap rate apply to your particular situation, or talk with Steve via email or phone to get his advice. Steven Schlagel is a CPA and Certified Valuation Analyst with offices in both Durango, CO and Farmington, NM. More than the typical CPA, Steve mentors, coaches and consults with small business owners just like you every day to help them solve problems and build value in their business. Small Business Mentor | Small Business Coach | Small Business Consultant http://stevenschlagel.com/in-a-hurry-to-get-the-entire-buy-a-business-course/#.UeVpTfmG2Sp
Views: 31119 Steven Schlagel
How To Avoid 3 Common Legal Mistakes Small Business Owners Make
Disclaimer: This video and accompanying content (blog, Youtube descriptions, etc. herein referred to as "Content") is for informational purposes only and should not be construed as legal advice of any kind. Jo-Ná Williams and J.A.Williams Law, P.C. assumes no liability for use or interpretation of any information contain in this Episode or this document. This Episode should not be an alternative to obtaining legal advice from a licensed attorney in your state based on the specific facts of your legal matter. Jo-Ná Williams is licensed to practice law in the State of New York only. C'mon over to http://www.marieforleo.com/2014/05/small-business-legal-help/ where the main discussion happens after the episode! Legal help can be confusing if you run a small business, but in this video you'll learn about three common legal mistakes small business owners make -- and how to avoid them. 1. Business Structure. Should your business be an LLC or S Corp? Get legal help from a lawyer about what option is best for your business, since they can help you figure out what will be best for your taxes as well. Many people think that a lawyer is going to cost a lot of money, but most people would rather pay for solving a problem than preventing one. 2. Protect Yourself And Your Offerings. It's very important your terms are outlined in something written. Make sure that your contracts have protection for your IP, disclosure of your programs and content, clear terms as to refunds and how to terminate the contract. It's also important to make sure your contracts have disclaimers in them. It's important to have what you are in the contract but even more importantly what you're NOT. Legal help from an attorney will show you exactly what your contracts and terms should include. 3. Your Business Relationships. An independent contractor's agreement serves as additional proof that you have this arrangement with the people working for you. In this type of agreement, you should outline their duties, how they are being paid and when. A non-disclosure clause protects your confidential information, and explains the fact that they're an independent contractor and not an employee. And a final bonus tip: If you are in the U.S. and you pay an independent contractor over $600, you're going to have to issue them a 1099. Make sure you have their W-9 form when they come on-board so you don't have to try and get it from them later! If you enjoyed this video, subscribe to our channel and sign up for your free weekly business and life advice at http://www.marieforleo.com. And if you're interested in more videos on next level business growth like this one, check out our YouTube playlist on that exact topic here: https://www.youtube.com/playlist?list=PLD87A632CFD5449B5. Thanks for watching! My YouTube channel: http://www.youtube.com/marieforleo Legal Help on my website: http://www.marieforleo.com/2014/05/small-business-legal-help/ Legal Help on YouTube: http://youtu.be/zahVagoP3SU
Views: 116566 Marie Forleo
S Corporation Form 2553: How To Pay Yourself Reasonable Compensation Reasonable Salary Gusto Payroll
S Corporation (Form 2553) Reasonable Compensation Reasonable Salary How To Pay Yourself Gusto Payroll. ★ S-CORP ONLINE COURSE NOW AVAILABLE (CLICK☞): https://bootcamp.advisorfi.com/p/s-corporation-bootcamp Business ownership is adventurous, rewarding, and completely confusing. Sure you can come up with the next business idea and change the world with a single event, but how do you organize and run the business side of that idea? Should you set up an LLC and how should it be taxed? Are you prepared to streamline this new business venture and idea? What information should you consider in your business that's meaningful, and when do you implement it? Where do you go to find the best tools possible for your business? How do you save money on taxes? Where do you set up your new company? What technology should you use to make running your business easier? These aren't the things that we learn in school, and chances are you don't have time for trial and error. You're here to make money doing what you love, and I'm here to make that easier for you and absolutely practical. ★ S-CORP ONLINE COURSE NOW AVAILABLE (CLICK☞): https://bootcamp.advisorfi.com/p/s-corporation-bootcamp In this Bootcamp for Converting to S-Corp (Form 2553), you will walk away with knowledge such as; How do you to properly start your business, ~ Why you should consider S-corporation (Form 2553) for your business venture, ~ How do you properly complete S-Corporation (Form 2553) correctly when you are NOT late in electing, ~ How do you properly complete S-Corporation (Form 2553) correctly when you ARE late in electing, ~ What are the IRS S-corporation expectations and requirement for your S-Corporation (Form 2553), ~ What are the best 2018+ tax reform business savings for my S-Corporation (Form 2553), ~ What are the best business and accounting apps to use to make running a business easier and are there exclusive offers for them through AdvisorFi.com, and much more! ★ S-CORP ONLINE COURSE NOW AVAILABLE (CLICK☞): https://bootcamp.advisorfi.com/p/s-corporation-bootcamp By the end of this S-Corp Bootcamp, your business venture will be in tip-top shape to make your dreams and tax savings become reality. You'll have a complete plan for how to set up your business venture correctly that saves you money and time, and rolling out the best technology that will make business ownership as an S-Corporation a breeze! This online course is the first of it's kind and is the beginning of a series of educational online products to be created by Will Lopez, Founder of AdvisorFi. Needless to say, we are excited to show you how successful business ownership is really done. :) ★ S-CORP ONLINE COURSE NOW AVAILABLE (CLICK☞): https://bootcamp.advisorfi.com/p/s-corporation-bootcamp =========== Gusto Payroll (CLICK☞): https://gusto.com/r/uBiOb =========== FREE Consultations (CLICK☞): http://meetme.so/freebie =========== Subscribe (CLICK☞): https://goo.gl/o8hRuk =========== Best Playlist (CLICK☞): https://goo.gl/Kvb41h =========== IRS: Reasonable Compensation: "S corporations must pay reasonable compensation to a shareholder-employee in return for services that the employee provides to the corporation before non-wage distributions may be made to the shareholder-employee. The amount of reasonable compensation will never exceed the amount received by the shareholder either directly or indirectly." Reasonable Salary: https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/S-Corporation-Compensation-and-Medical-Insurance-Issues LLC Tax Classifications: http://www.companiesinc.com/llc/tax-classifications.asp Key Words: S-Corporation, Form 2553, Small Business, Partnership, Sole Proprietorship, C-Corporation, Tax Classifications, Small Business Election, Entrepreneur, ★ Please LIKE Comment & SUBSCRIBE: https://goo.gl/o8hRuk ★ Thanks for watching http://AdvisorFi.com ★ Music from YouTube: https://www.youtube.com/audiolibrary/music #Accounting #Business #Taxes
Views: 34741 advisorfi.com
How to Pay Taxes on Your Small Business
Watch more How to Do Your Taxes videos: http://www.howcast.com/videos/422992-How-to-Pay-Taxes-on-Your-Small-Business Step 1: Make estimated tax payments Make quarterly estimated tax payments to the IRS if your total tax bill in a given year will exceed $500. Estimated tax payments are due 4 times a year on April 15, June 15, September 15, and January 15. Tip Pay self-employment tax if your annual net earnings will be $400 or more. Step 2: File a tax return File an annual income tax return. The form you use will depend on how your business is organized -- whether it is a sole proprietorship, partnership, corporation, or limited liability corporation. Tip Keep tax-related documents for a minimum of 7 years. Step 3: Pay excise tax Pay excise tax if your business engages in qualified activities. For example, excise taxes are levied on certain trucks and buses used on public highways. Step 4: Withhold employment taxes Withhold employment taxes from the salaries of your employees. Employment taxes include withholding, employer matching, and unemployment taxes. Depending on the size of your payroll, employment taxes are due weekly, monthly, or quarterly. Step 5: Pay sales tax Register with your state's tax department and pay sales tax if your business makes a taxable product. Sales taxes are due quarterly or monthly, depending on the rules in your state. Most services are exempt from paying sales taxes. Step 6: Pay additional state and local taxes Pay additional state and local taxes that are applicable to your business. Consult your local government offices or a tax attorney to determine whether you are responsible for additional taxes. Did You Know? In 2008, tax revenues in the United States represented 26.9 percent of the total gross domestic product.
Views: 82557 Howcast
Starting My Own HVAC Company (1 of ...Starting up)
Please visit our website @ http://www.foxfamilyhvac.com/ Call or text us at (916) 877-1577 to schedule an appointment. Fox Family Heating and Air Conditioning, Inc. proudly serves the entire Sacramento Valley including Sacramento, Elk Grove, Roseville, Citrus Heights, Davis, Folsom, Rancho Cordova, Rocklin, Antelope, Arden Arcade, Auburn, Cameron Park, Carmichael, Diamond Springs, El Dorado Hills, Elverta, Fair Oaks, Florin, Foothill Farms, Foresthill, Georgetown, Gold River, Granite Bay, La Riviera, North Highlands, Orangevale, Parkway, South Sacramento, Pollock Pines, Rancho Murieta, Rio Linda, Rosemont, Shingle Springs, Vineyard, Wilton, Penryn, Loomis, Newcastle, Auburn Lake Trails, Garden Valley, Coloma, Plymouth, Amador City, Sutter Creek, Ione, West Sacramento. Call or Text (916) 877-1577 or visit our website online for more information at http://www.foxfamilyhvac.com/
5 Time Management Tips for Small Business
Five Tips to Manage Time in Your Business Managing time as a business owner should be a high priority. To maximize profits, a business owner should spend more time on income producing tasks, and less time on non income producing tasks. Focus on Generating Income Set Goals Create a Plan Schedule Everything Track Results Does it ever seem like some small business owners as super-productive, releasing product after product, while you plod along day after day buried in to-do lists and unfinished tasks? I know that feeling well. In fact, I used to wonder why everyone else got so much done while I (seemingly) was just busy. Here's the truth: Some marketers and business owners are insanely productive. But the only difference between you and them is that they have a system, and you don't. A system that they've developed and honed over years to ensure theyíre always at the top of their game. But you donít have to waste years developing your own super-productivity system. Iíve worked it all out for you. All you have to do is follow my lead, and youíll discover the exact tools and techniques I use in my very own business to make sure I get more done in less time. Imagine how different your life would be if only you were able to get things done efficiently and quickly. Youíd have more time to spend with friends and family, more energy for volunteer activities, and be able to create more products and increase your income more than you ever thought possible. Simply by becoming more productive, you can have more free time AND more money. Sound like a winner? Check out my new program www.TimeManagementSuccessSecrets.com to learn more about how to learn my proven, step-by-step system to stop wasting valuable time, and start earning more with less effort and less stress than you ever thought possible
Views: 19002 Deanna Maio
Income Expense Statement for Small Business Owners
http://www.AgileWealth.com/m12 Are you a Small Business Owners looking for a better understanding of the money and finances of your business? Learn more about the Income Expense Statement and the other Big 3 Business Financial Statements, including the Cashflow Statement and the Business Balance Sheet by registering for a free download of Examples, Templates and additional Videos at http://www.AgileWealth.com/m12.
Views: 1453 AgileWealth
Dividends from Small Business Corporations
Video describing how dividends are paid from small business corporations. Business Career College is a national financial services education provider. See our insurance, financial planning and continuing education courses, including self-paced and instructor led options, at https://www.businesscareercollege.com For great industry articles, follow on Twitter (https://twitter.com/JasonWattBCC) or like on Facebook (https://www.facebook.com/BusinessCareerCollege/).
Views: 6296 BCC Education
How to Pay Yourself From Your Business - All Up In Yo' Business
How Do I Pay Myself in a Single-Member LLC? https://youtu.be/fWkbJs3XLrs Avoiding the Risks of a Single-Member LLC https://youtu.be/DEaRs9ju3Kc How Do I Pay Myself in a Multi-Member LLC? https://youtu.be/Lv3D3rEzx7s Undercapitalization and Piercing the Corporate Veil https://youtu.be/F0EelyDeGMg Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz Snapchat: @AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/AUIYB 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 50 S. Steele Street, Suite 250, Denver, CO 80209. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship 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. All Up In Yo’ Business® is a registered trademark of 180 Law Co. LLC. ©180 Law Co. LLC. All rights reserved.
Views: 7993 180 Law Co. LLC
Do you own your own business? Are you wondering how Trump's new tax plan is going to affect you and your business? Then this is video you HAVE to see. Matthew is joined by Nick Fortune with Fortune DNA to discuss the positive and negative affects this new tax plan will have on Small Business owners and Entrepreneurs and what you can do to put your business in the best position possible come tax season. If you are interested in learning more or getting in touch with Nick, please e-mail us! EMAIL: [email protected] SUBJECT: TAX PLAN INCLUDE: Contact Information / Direct Phone Number Don't forget to sign up TODAY for your exclusive one on one consultation at: http://www.FreeCoachingCalendar.com Want more actionable financial tips and tricks like this one? Check out our YouTube channel here https://www.youtube.com/channel/UC45hHuqWfdi7TIZg0RDG9_g Make sure to check out our social channels for more insight and industry news! Facebook - https://www.facebook.com/VIPFinancialEducation/ Twitter - https://twitter.com/VIPFinancialEd LinkedIn - https://www.linkedin.com/in/vipfinancialed/ BBB A+ Rating - https://www.bbb.org/denver/business-reviews/financial-services/vip-enterprises-llc-in-westminster-co-90024254/ Complimentary Services and Products mentioned in our videos are available for a limited time only and are not guaranteed at the viewing of this video. VIP Financial Education provides resources for educational purposes only. Our education is not a substitute for Legal, Tax, or Financial advice and results vary. VIP Financial Education encourages viewers to do their homework before taking any financial action. VIP Enterprises, LLC may from time to time earn commissions by recommending various products, services, and programs. #TrumpTaxPlan #SmallBusiness #Entrepreneur #VIPFinancialEd
Views: 14534 VIPFinancialEd
How to Pay yourself Entrepreneur and Small Business Owner
Recorded on March 12, 2012 using a Flip Video camera.
Views: 1044 MICAH BYRD
What every business owner needs to know about payroll taxes
Contact us at 888-727-8796 if you need assistance with your tax problem (and yes, your information will be subject to the attorney client privilege). We’ve successfully assisted thousands of clients deal with IRS issues. You can also email us at [email protected] We deal with both domestic and offshore issues. www.irsmedic.com Before the 1940’s, taxes were only paid by the ‘Fat Cats’, and they were paid in quarterly installments. Since such a small percentage of people were paying taxes, it was easy for the government to ensure that everyone was compliant. They assured us that only these ‘Fat Cats’ would pay --- until they 'changed their mind' to expand the tax burden to include everyone. “But it’s war time! The budget is suffering and we need your help! Don’t worry…this tax won’t be around forever!” And so we all began to pay. What the government realized quite quickly was that they could rapidly lose control of compliance and collections since there were now so many people paying taxes. They also realized that since they were taxing people a percentage of their salary, the tax debts could add up to the point that the taxpayers just couldn’t afford to pay it back. Taking control with “Pay as you go”: In 1943, Congress passed the Current Tax Payment Act. The idea was born from Beardsley Ruml, an executive for R.H. Macy & Co. and adviser to Roosevelt. In his experience in working with customers from Macy's, he noticed that people didn’t like big bills --- they instead liked to make partial, smaller payments. His “Pay as you go” idea grew into this act that required employers to withhold a percentage of federal income taxes from their employees wages. The employers would then be responsible for paying the government on the workers behalf. Withholding was a great way to keep control of the masses. It’s easier to police a smaller number of taxpayers, and, employers are easier to influence as they have more at stake. Understanding withholding and payroll taxes: Payroll withholdings are the taxes and benefits paid by the employee and include: Employee portion of Social Security tax - 6.2 percent Employee portion of Medicare tax - 1.45 percent (a 0.9 percent Medicare surtax when the employee earns over $200,000) Federal income tax State income tax Court-ordered withholdings As an employer, you are technically the 'trustee' and are holding this money 'in trust' for the government until your quarterly payment is due (4/15, 6/15, 9/15, 1/15). Technically, this is not your money... it is the governments. The law also requires you to pay the employer's portion of two of these taxes: a 6.2 percent Social Security tax a 1.45 percent Medicare tax (the “regular” Medicare tax). We have a lot of clients that are dealing with payroll tax debt. The stress can feel overwhelming, and you may make poor choices trying to solve the issues on your own. It’s a scary thing because you are talking about not only your own livelihood, but also the livelihood of your employees. Scarier still is that you are personally liable for this debt; it's not just the responsibility of 'the business' to pay it back. In our experience, we find that 98% of payroll tax problems are caused by cash flow. Cash flow problems can easily spiral out of control, and can be caused by a client that burns you, a natural disaster, a lawsuit, or employee embezzlement, to name just a few reasons. Unfortunately, we find that the nicest people end up with payroll problems because they may be afraid to lay any employees off. These are honest people that didn’t take the money for their own use; they took the money and put it into the business to keep the lights on, or to pay for supplies hoping to turn the business around. They are misunderstood, hard-working, and are simply trying to make ends meet. We’ll talk more in depth in tomorrow’s article about payroll tax solutions and negotiations, but bear in mind that sometimes if you lay people off, you may be able to get your issue under control and end up re-hiring them. If you need assistance with a payroll tax debt, don’t hesitate to contact us. We’re here to help. http://www.irsmedic.com Serving US taxpayers worldwide "Real Tax Attorneys for Tough Tax Problems" IRS Medic: Parent & Parent LLP 212.256.1335 888-727-8796 Twitter: https://twitter.com/irsmedic Facebook: https://www.facebook.com/TheIRSMedic
Views: 6561 IRS Medic
I operate in an S-corp for my business, am I required to pay myself a salary?
Check out Bas Rutten's Liver Shot on MMA Surge: http://bit.ly/MMASurgeEp1 http://www.mahalo.com/i-operate-in-an-s-corp-for-my-business-am-i-required-to-pay-myself-a-salary/ Keith Hall, a registered CPA and small business owner with over 20 years experience answering tax related questions for both individuals and small business owners such as himself. In this video, Keith answers the question, "I operate in an S-corp for my business, am I required to pay myself a salary?" Check out the rest of our tax videos here: http://www.youtube.com/view_play_list?p=C90C48F4B15F6911 Check out the related Mahalo Pages: How to Avoid a Tax Audit: http://www.mahalo.com/how-to-avoid-a-tax-audit How to Check Your Tax Refund Status: http://www.mahalo.com/how-to-check-your-tax-refund-status How to File For a Tax Extension: http://www.mahalo.com/how-to-file-for-a-tax-extension How to File Taxes If You Haven't Filed in Years: http://www.mahalo.com/how-to-file-taxes-if-you-havent-filed-in-years How to File Taxes as a Gay Married Couple: http://www.mahalo.com/how-to-file-taxes-as-a-gay-married-couple How to Determine Your Tax Filing Status: http://www.mahalo.com/how-to-determine-your-tax-filing-status How to Choose the Right Tax Forms: http://www.mahalo.com/how-to-choose-the-right-tax-forms 1040ez Tax Form: http://www.mahalo.com/1040ez-tax-form How to Organize Tax Documents: http://www.mahalo.com/how-to-complete-a-1040ez-tax-form How to Set Up a Tax Payment Plan: http://www.mahalo.com/how-to-set-up-a-tax-payment-plan Check out more Mahalo playlists: 2011 Grammy Guitar Lessons: http://www.youtube.com/view_play_list?p=554B7E896F42D97C How to Cook: http://www.youtube.com/view_play_list?p=7016D638D52E3652 How to Bake: http://www.youtube.com/view_play_list?p=26285631199B5B14 Mahalo Daily Videos: http://www.youtube.com/view_play_list?p=4F1A4F3978CDD3EC How to Play the Xylophone: http://www.youtube.com/view_play_list?p=F1EFA91B8B5F3929 Green Living: http://www.youtube.com/view_play_list?p=3CA63D48E28E7759 How to Speak Russian: http://www.youtube.com/view_play_list?p=31098EC11EAF8623 Mahalo Travel: http://www.youtube.com/view_play_list?p=F348A1D1C148415D Learn Biology: http://www.youtube.com/view_play_list?p=16EB9E5F60FAD9BD How to Play Guitar Songs: http://www.youtube.com/view_play_list?p=BE077DEF7EB33D00
Views: 8573 mahalodotcom
Can small business owners claim lost wages under PIP?
Can small business owners claim lost wages under PIP? Andrew Garcia explains.
Views: 56 PhillipsGarcia
All Up In Yo' Business: How Do I Pay Myself in a Multi-Member LLC?
How Do I Pay Myself in a Single-Member LLC?: http://youtu.be/fWkbJs3XLrs?list=UUNh... In a previous video I discussed how to pay yourself when you are the owner of a single member LLC. In an effort to not "single out" the single member LLCs, I wanted to also discuss how to pay yourself in a multi member LLC. Luckily for you, and for me, how to pay yourself in a multi member LLC is pretty similar to paying yourself in a single member LLC. There are three things to take into consideration when deciding how to pay yourself in a multi member LLC: 1. Making sure you keep the LLC adequately capitalized, 2. Following the terms of the Operating Agreement, and 3. Whether the LLC is taxed as a partnership or as an S Corporation. When deciding how to pay yourself in a multi member LLC, you need to first make sure the LLC will still be adequately capitalized after the members take any distributions. This means ensuring that, after the members are paid, the LLC will still have enough money available to pay for its overhead, stay current with debts, purchase any supplies or equipment that the LLC needs or may need. Keeping your LLC adequately capitalized is something that will help protect you from a court one day deciding to pierce the corporate veil if the LLC is ever involved in a legal dispute. It is also important to make sure you comply with the terms of the LLC's Operating Agreement when deciding how to pay yourself in a multi member LLC. (You do have an Operating Agreement, right? If you are part of a multi member LLC and you do not have an Operating Agreement, you have much bigger fish to fry than figuring out how to pay yourself. Stop. Call an attorney. Do not pass go. And so on and so forth.) The Operating Agreement might specify in what proportion the distributions are to be made to the members, or if a vote is required for a distribution, or if distributions are to be made only at certain times, and a whole host of other possible things. Finally, if the LLC is taxed as a partnership and not an S Corporation, then distributions can be made however & whenever and through whatever method the members agree upon. They can take the form of paychecks, bank transfers, etc. There is no distinction between a "paycheck" or a "salary" and a "distribution" unless the members say there is. If one member is elected as an officer and the members agree that, as an officer, he or she should receive a salary on top of the proportional distributions, then that needs to be honored. But absent an arrangement like that, distributions can be made however the members want. If the LLC has elected to be taxed as an S Corporation, then the members will receive "reasonable salary" payments, which payments can be made through payroll if the members so choose. The salary in that case though is different from the "distributions" from the LLC because the salary is taxed at a different rate than the distributions. I generally recommend that small businesses outsource the payroll duties in instances like this because it is usually worth it to leave that task to someone who knows how to do it properly, and it leaves the owners free to focus on building the business. After those things are taken into account, the actual method of how to pay yourself in a multi member LLC can vary. Again, they can be in the form of transfers, checks made out to the members, whatever the members decide. Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/AUIYB 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 50 S. Steele Street, Suite 250, Denver, CO 80209. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship 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. All Up In Yo’ Business® is a registered trademark of 180 Law Co. LLC. ©180 Law Co. LLC. All rights reserved.
Views: 14798 180 Law Co. LLC
What Is the Qualified Business Income Deduction?
With Section 199A of the Trump tax reform (the Tax Cuts and Jobs Act of 2017) small business owners may be eligible to take a 20% tax deduction off their profit - it's called the qualified business income deduction, or QBI deduction. In this video, Pure Financial Advisors' Alan Clopine, CPA gives a brief overview of this new tax deduction. Transcription: The Tax Cuts and Jobs Act of 2017. We got a new deduction for business owners, and it can save you a lot of taxes, but you need to understand how it works. It's called QBI, qualified business income. It allows you to take a deduction of up to 20% of your profit. So let me give you an example. So if you have $150,000 of gross income - that's what you bill your clients. And then you have $50,000 of expenses. So your net is $100,000. Gross 150, expenses 50, you net $100,000, that's your net income. You take 20% of that net income, that would be $20,000 is a tax deduction if you're in the 22% tax bracket you would save $4,400 tax because of this new deduction. Its brand new, it's to help small businesses. It's partly because larger corporations got a lower tax rate and smaller businesses; it was felt that they should get some break as well. There's a few limitations you need to understand. One is your taxable income needs to be equal to or greater than your net income. So in my example of $100,000 business profit, if your taxable income is less than that, let's say it's $80,000, then the deduction is 20% of $80,000, not $100,000. So that's one thing you need to be aware of. Another thing is if your income - taxable income - is high. And that's defined as a single person taxable income above $157,500, or married couple, taxable income above $315,000. That is where these deductions can start phasing out. And it depends upon whether you're a service business or a non-service business when you're in those higher income levels. There's a whole lot of confusion on what's a service business and what is not a service business. So if you are in these higher income levels, get some help on that, because it's not that simple, and in fact, every time we pass a new tax law it becomes more complicated. This one was no different. But it's important to know this QBI deduction is going to save you money that allows you to have more net in your pocket, more to spend on your business, more to spend personally, or whatever you would like to use that money for. If you would like more information, go to PureFinancial.com. If you would like to schedule a free assessment with one of our CFP® professionals, click here: https://purefinancial.com/lp/free-assessment/ Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.” http://bit.ly/2FDSfK2 Channels & show times: http://yourmoneyyourwealth.com https://purefinancial.com IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
Understanding Tax Returns For Small Business Owners
Visit the new NerdEnterprises.com Subscription Options: https://nerdenterprises.com/services/subscription-based-training/ One to One Training: https://nerdenterprises.com/services/one-to-one-training/ Get templates: https://nerdenterprises.com/resources-page/templates/
Views: 16473 Nerd Enterprises, Inc.
S-Corp Reasonable Salary Prior to Year-End | Small Business Accountant | Tax Savings
S Corporation officers must be paid a reasonable salary. This salary must be completed by the end of the year so if you are a S-Corp business owner that has not processed a reasonable salary yet or need to make an increase to reach the reasonable salary amount, it is important that it is done before December 31. Podcast Host: Mike Jesowshek CPA, from JETRO and Associates We specialize in serving only small business owners helping them with bookkeeping, taxes, and payroll. When it comes to taxes we are not just a prepare and file firm we take it a step further and concentrate on tax savings throughout the year. To keep things simple and flexible, we created a menu of services that clients can bundle into a package completely customized to their needs. Pay only for the things you need, and nothing you don’t. JETRO and Associates 12605 W North Ave #232 Brookfield, WI 53005 Milwaukee Accountant servicing clients all around the country. O: 844-327-9272 E: [email protected] W: www.JETROTax.com
Understanding how the IRS 20% Qualified Business Income (QBI) deduction works
https://www.irsmedic.com/blog/2018/01/tax-reform-what-is-qbi.html The 2017 Tax Cuts and Jobs Act (otherwise known as the 2017 tax reform) includes a fantastic tax benefit for many entrepreneurs, self-employed individuals, and investors by allowing them to deduct 20% of their business income. The problem is that the rules are incredibly complicated. In this article, we will explain the basics of how it works and under which circumstances you may want to consult with a tax advisor so that you can best take advantage of this new tax break. A very basic example of how QBI works For this hypothetical, let's assume a taxpayer makes $300,000 in profit as a self-employed civil engineer, and he files jointly. This engineer is able to deduct 20% of his profit, in this case $60,000 from his tax return. So even before any other deductions or the standard deduction, he is taxed on not $300,000, but $300,000 less 60,000 for a taxable income of $240,000. Based on the revised tax brackets, the marginal tax rate at play in this example is 32%, meaning the QBI for this engineer is worth $60,000 x .32 = $19,000. QBI has saved this taxpayer $19,000 in taxes. A taxpayer with larger QBI stands to gain even more. For example, $10,000,000 in profit would qualify for a $2,000,000 deduction. At a top tax rate of 37%, this translates into a $740,000 tax savings. Do I need to convert to or be an S-corporation to take advantage of QBI? No. This is confusing because the original break proposed by Congress was a lowered pass-through (S-corp) taxation rate of 25%. However, this did not make it into the final bill. Instead, partnerships, sole proprietors, trusts, and S-corps owners can all take advantage of the 20% QBI. What is a Specified Service Trade or Business? A Specified Service Trade or Business (SSTB) is not able to take advantage of QBI in the same way a taxpayer whose business income is NOT an SSTB can. An SSTB is any trade or business activity involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletic, financial services, brokerage services, or any trade or business is the reputation or skill of one or more of its employees. Also included are any trades or businesses involving investing and investment management, trading or dealing in securities, partnership . Engineers and architects were specifically exempted. I am in a “Specified Service Trade.” Can I use the QBI at all? Yes, as long as your adjusted gross income falls below a certain threshold. The magic number is $315,000 for married filing jointly, $207,500 for head of household, or $157,500 for single filers. If your AGI is at or below these figures, you can claim the QBI regardless if you are listed in a specific trade or service. If your AGI is above these figures, it may make sense to consider some tax planning or strategies so that you can legally take advantage of QBI. What is the top effective tax rate if I have unlimited QBI income? The top effective tax rate for investors and business owner with QBI approaches 29.8%. This is a big improvement over the previously highest top tax rate of 39.6% and the new top tax rate of 37%. Where do things get complicated with QBI? If you aren’t already confused, the QBI deduction quickly gets even more complicated. Here are situations where the use of the deduction may be significantly impaired, or require additional planning or strategies: Where income increases and you have an SSTB even though you have non-SSTB income. Where you have multiple trades and businesses and some have losses. Where one spouse has SSTB income and the other spouse does not, but total income is high. Where income increases yet W-2 wages paid are low and/or the business is not capital intensive. What should you do to maximize the use of QBI? For our clients, especially those with worldwide income and other ventures, we are always looking for and implementing ways to maximize tax benefits through various structuring. It is important to understand that this new tax reform is ripe with loopholes that we and other practitioners continue to uncover. Some of these loopholes we believe are intentional. To learn about what we can provide to you, we invite you to contact us for a complimentary strategy session. We believe the more control our clients have, the better place the world is. It is our mission to help US taxpayers around the world make their IRS problems and tax bills a bit more manageable. Parent & Parent LLP 144 South Main Street Wallingford, CT 06492 (203) 269-6699 [email protected]
Views: 5915 IRS Medic
How do I get a dividend from my company - UK tax advice for Business Owners
http://www.incauk.biz/ Hi, I'm Graham from Inca Chartered Accountants. If you are running a limited company one of the best ways to get money from that business is a share of the profits, which is known as a dividend. But how do you actually go about getting a dividend from your company? Well, in this video I'm going to explain how to work out the basis for a dividend, and the structure and pit falls of taking a dividend. Now profit of course is your sales less your costs less your wages. The next thing you have to take off is your tax bill which comes first. To be on the safe side we suggest that you put a quarter of your profit away for tax, three quarters of it is available for you to have as a dividend. So how do you go about getting a dividend from your company? Well, as with most things to do with limited companies it's all to do with paperwork. The first thing you need to do is hold a board meeting, because it is the board that declares the dividend. The second thing you need is know is a tax voucher which goes to your shareholders which tells them about the details of the dividend that they have received. So you've got your paperwork in order then you can just go and pay it. Make a bank transfer to each shareholder for the amount of dividends they are having. Don't lump it all together with salary and expenses. Make it separate payment, that way it's is clear that it is a dividend. If it looks like a dividend then it will be taxed like a dividend. If it looks like a salary then it might be taxed like a salary and that could end up with a 46% tax hit on you as a business owner. The last thing to remember about dividends is you can have them as often as you want. If you really want to have 365 dividends in a year and your profit allows it that's fine. A lot of minutes, a lot of tax vouchers but it's absolutely fine to go ahead and do it. In the next video I'm going to be talking about what you can claim against your business for tax purposes.
Views: 12570 oxfordaccountant

Citalopram 60 mg nebenwirkungen
Ambient recording lockit acl 2035
CARAFATE 17 12 Pill Images (Pink / Capsule-shape)
300mg aspirin for dogs
Digoxin 125 mg daily