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Search results “Filing taxes for a small business” for the 2018
How to File Taxes as a Single Member LLC
 
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In today's video, I wanted to share with you how to file taxes as a Single Member LLC. This is a user question, and it's a great question, especially since the filing deadline is October 15th for people that requested an extension on their Federal Taxes. In the video I referenced an online training I'm going to be doing later this month - for more information click the link below: http://hawthornlaw.net/training If you need to get a hold of me, you can schedule a call with me using my clarity link: https://clarity.fm/jameshart Need more information on starting a business? Download our cheatsheet here: https://www.hawthornlaw.net/cheatsheet #LLC #Taxes #OnlineBusiness
Views: 6742 Hawthorn Law
How to SETUP Self-Employed BUSINESS in TurboTax? [Taxes in TurboTax VIDEO #1]
 
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How to Setup Your Self-Employed Business Taxes in TurboTax: for Sole Proprietors, 1099s, Single Member LLCs...
HOW TO FILE INCOME TAX RETURN ( ITR 4 ) A.Y. 2018-19 FOR SMALL BUSINESSMAN (IN HINDI)
 
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This video explains how a small businessman can file his own income tax return. This video shows how a businessman can file his own ITR 4 u/s 44 AD. After watching this video you will able to know : Thank you all for watching the video. You can download the balance sheet format with the following link: https://drive.google.com/file/d/1OXSCwTBywBPQRZWJUb9E1YNkBygIQUGD/view?usp=sharing How to file Income tax return ITR 4? How to file Income tax return for business ? How to Quick file ITR 4 Online in India? How to file ITR u/s 44 AD ? What is presumptive taxation ? How to file ITR for small business ? How to pay your income tax online ? How to e verify your ITR ? Assessment Year 2018-19 Financial Year 2017-18 How to file Income tax return for business person online? How to file Income tax return online in India for business for AY 2018-19. Can I file ITR 4 AY 2018-19 online? How to file ITR 4? How can I file my income tax return online for AY 2018-19? ITR 4 for FY 2018-19 is for Business ? Hello Friends I have explained the procedure to file income tax return online in India for AY 2018-19 (FY 2017-18) detail. Kindly follow the instructions and queries to be asked in comment box below. First goto www.incometaxindiaefiling.gov.in Then logon to your account Then Goto E File Then click on File Income Tax Return online Then select ITR 4 for AY 2018-19 ITR 4 is normally for small businessman having turnover less than Rs. 2.00 Cr. you can file return online by selecting appropriate form. After Selecting Income tax return ITR 4, now to file Itr 4 online for AY 2018-19, you need to select the appropriate assessment year and then preifill data , this return is for salaried people who earned the income in financial year 2017-18. So Just follow the instructions and keep going , at last Click on submit to submit your income tax return ITR1 for AY 2018-19 to income tax department. In this way you can easily e file your income tax return ITR 4 for AY 2018-19.
Views: 225880 Tax Guru Ji
ITR filling for Small Business Free of Cost using income-tax filling
 
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here is process to file itr 4 easy step
Views: 1700 TECH SHAKYA
HOW TO PREPARE YOUR SMALL BUSINESS FOR TAX SEASON
 
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Thank you so much for stopping by my channel! Open for more video details ❤ My mom's channel https://www.youtube.com/channel/UCeEvw04u_xZkPmUji2AODXQ My mom's office number 954-499-2829 My mom's email [email protected] …………………………………………………………………….................. Website: www.andreusluxurycloset.com ❤Find me on social media!❤ Instagram: andreusluxurycloset Instagram: lovealwayscouture Email: [email protected] Poshmark store: lovealwaysbysd Poshmark: Use my invite code GPKWH to get a $5 credit! **Affiliate Links** Printer I use for my shipping labels: http://amzn.to/2sq6rj3 Labels I use for my Dymo: http://amzn.to/2uL6F51 Clear poly bags I use to package my items: http://amzn.to/2tq7PDk Poly mailers used for shipping: http://amzn.to/2sMQQcw Scale I currently use: http://amzn.to/2sGQV6o Old scale I used to use: http://amzn.to/2sNf5aF Lighting I use to take product pictures: http://amzn.to/2sqBviB Photography stand for backdrops: http://amzn.to/2sqDzXQ White background: http://amzn.to/2tMvct0 Wood backdrops I use as my backdrops: http://amzn.to/2uquq32 Leather conditioner I use: http://amzn.to/2tNfheq Polish for bags: http://amzn.to/2uOwf91 Saddle soap for cleaning bags: http://amzn.to/2tQnVIW All things linked above are items I currently use.
Views: 1367 lovealwaysbysteph
How To Lower Your Taxes 2018 - Writes off & Deductions/ Small Business
 
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Start a business here http://workwithtanisha.com/ My free Network marketing series - how to choose the right company and products to build a legacy for your family http://www.allnationalnewstoday.com/what-is-network-marketing-the-series Download the quick books apps http://www.allnationalnewstoday.com/quick-books-self-employed-app-for-mobile/ s form 1040 irs forms irs tax forms irs tax filing forms filing 2018 taxes filing taxes in 2018 filing taxes for 2019 tax filing for 2018 taxes for 2018 tax file 2018 2018 tax returns e file taxes 2018 2018 tax refunds file taxes 2018 #loweryourtaxes #sandybotkins
Views: 1157 Tanisha Adjo
Increasing Business Expenses for Tax Write-offs
 
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Should you increase business expenses to lower your tax burden? It really depends on what you are buying and if those items will benefit your business or is it really only just to spend more. There are various considerations and spending where it matters is key. http://www.audibletrial.com/BeatTheBush (Get a free audio book just for trying.) http://www.patreon.com/BeatTheBush (Support more videos like this along with getting a bunch of perks.) http://www.amazon.com/shop/BeatTheBush (Buying any product after clicking my link helps my channel.) My Channels: https://www.youtube.com/BeatTheBush https://www.youtube.com/BeatTheBushDIY
Views: 9957 BeatTheBush
How to File Taxes for Self-Employed or Home Businesses
 
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If you’re one of the 3 million people in Canada who calls yourself a freelancer, independent contractor, or consultant, you know that your financial situation is probably more complicated than traditional, full-time workers. Between trying to understand potential deductions, untangle business and personal expenses, an even have to keep track of multiple streams of income tracking your finances and preparing your taxes can be a year-round challenge. To make life easier, we’ve announced TurboTax Self-Employed, Canada’s only a tax preparation software specifically designed for those in the gig economy.
Views: 4986 TurboTax Canada
2 Tax Reduction Strategies for S-corps: Reduce or Avoid Taxes DRASTICALLY for Small Businesses
 
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Https://feedbackwrench.com if you're looking for ways to reduce your taxes are how to avoid taxes with your company, these are two different ways that you can drastically reduce your taxes with an s corp. these ideas are not something small, I'm telling you that investing in duplexes and the correct solo 401K can provide tens of thousands and tax savings and can help you transfer money from the government over to yourself. watch this video If you're looking for something to reduce your taxes and trying to find new tax deductions for your small business. If you're looking for tax beneficial investments or different investments that are tax-advantaged, these are it. this is also incredibly helpful if you're trying to study the difference between an LLC and an s corp, and you're looking for ways to reduce your self employment and social security taxes.
Views: 7983 FeedbackWrench
Tax Planning Strategies 2018 (AND 2019) Year End Tax Planning Strategies
 
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Knowing the difference between tax planning and tax preparation so you can get the most deductions allowable by law! Toby Mathis, one of the top tax attorneys in the nation, sets the record straight and reveals how to prepare your business for success and keep more of what you earn. Why pay the IRS more than your legal share? Watch and you'll discover 1040 strategies and tips as well as using C corps, S corps, IRA's, 501 c 3 and more! Check out https://AndersonAdvisors.com for financial strategies and details on upcoming workshops. * 🚀Ready To Take Your Business To The Next Level While Protecting Your Assets From Frivolous Lawsuits? ~*~ 💰Get Your FREE 30 min Consultation & Wealth Planning Blueprint NOW! https://AndersonAdvisors.com/register-now-a ** SUBSCRIBE** Anderson Business Advisors Youtube Channel https://www.youtube.com/c/AndersonBusinessAdvisors 800.706.4741 [email protected]Advisors.com https://AndersonAdvisors.com Twitter: @TaxWiseToby Blog: https://TobyMathis.com 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 Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
H&R Block Vs. TurboTax — Which Is Better For Filing Taxes?
 
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With tax day approaching on April 17, Your Money editor Lauren Lyons Cole spoke with careers reporter Áine Cain about her experience filing taxes with both H&R Block and TurboTax to see which is the easier filing service to use.  -------------------------------------------------- Follow Business Insider on Twitter: https://twitter.com/businessinsider Follow BI on Facebook: http://bit.ly/1W9Lk0n Read more: http://www.businessinsider.com/ -------------------------------------------------- Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.
Views: 75822 Business Insider
How to start a Tax Business and make 6-Figures Your First Year  2018/2019
 
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Book a free strategy call with me: http://bit.ly/crystatyus Free marketing masterclass for Tax Professionals, Accountants, CPA's, Bookkeepers, and Financial Coaches: http://bit.ly/2019getclients The book I swear by that has helped me become an Enrolled Agent https://amzn.to/2uCLggC The best book that teaches you how to prepare individual tax returns https://amzn.to/2LzYNfg
Views: 10378 Crysta Tyus, EA
2018 Tax Update for The Self Employed | A Brief Digestible Summary of the New Tax Laws
 
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UPDATE (please read): Some of my contact information has changed. In you need to reach me... The new information is as follows: Twitter Handle = @TheSETaxGuy New Facebook Page = /TheSelfEmployedTaxGuy New Email = [email protected] Instagram = @theselfemployedtaxguy Ok carry on :) Did you know that as of January 1st 2018, there were some new tax laws that took effect that will change the outcome of your Self-employment taxes and business deductions? Well... if you did or if you didn't, in this short video I'm going to briefly explain what changes took effect and how its going to impact you and your self-employment taxes. Please understand, however, that there were a ton of changes and whats covered in this video only pertains to a small part of the personal and business changes. And because this law is so new... somethings are subject to be amended. I ask for your forgiveness in advance, as like everyone in the field of taxation, I'm still trying to wrap my mind around it all so if there were any parts that were not clear - I apologize. For more information on the Self-Employed Tax Academy click here: https://www.selfemployedtaxacademy.com
Form 1065 (LLC/Partnership Business Taxes) & Schedule K-1; Explained
 
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Confused if you need to file 1065/schedule K-1? Watch these videos: https://youtu.be/8qzQop2xPZY https://youtu.be/tCiv1p0__JI LLC & P-ship Taxes Explained: Form 1065 & schedule K-1 This video provides an overview of the tax implications for businesses with 2+ owners.
Small Business Tax Tips for Filing your Tax Returns – Small Business Show 161
 
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Small Business Tax Tips for Filing your Tax Returns – Small Business Show 161 – https://www.businessshow.co/small-business-tax-tips-filing-tax-returns-small-business-show-161/ With just about a week to go before tax filings are due for LLC and S-Corp Small Businesses, it's time to discuss what to do when your NOT ready to file and the repercussions of missing a tax filing deadline. Join us for episode 161 of the Small Business Show as we dive back into the world of Small Business taxes! On this episode, Dave and Shannon spend time discussing tax extensions, how they work, why you would want to use one and what do in the event that you don't have the cash to pay your tax bill. We share our thoughts on relationships with Accountants and why a few weeks before taxes are due is not the time to be searching for a new one. You'll also find out why keeping your Accountant involved in both your personal and business life can help you save money when filing your taxes. If you're already having IRS problems, we've got some tips and tricks for changing the relationship you have with the them and what to do if you are not getting the kind of help you think you should be getting from a particular IRS agent. We wrap up the show with advice on how to not miss important deductions, tracking expenses and using retirement accounts as well as hiring your kids to lower your taxable income. Join us today for all this and more on the show that is by, for and about Small Business! Chapters: 00:00:00 Small Business Show #161 for Wednesday, March 7, 2018 00:02:23 Taxes can be fun! 00:03:52 Find an accountant you enjoy talking with 00:05:30 Tax Deadlines for 2017 00:06:43 Understand Tax Extensions 00:10:00 Why aren’t you ready? 00:11:06 When should you send your forms to your accountant? 00:12:35 Let your accountant file your extensions 00:13:32 SPONSOR: Visit JAMF.com/SBS to get your first 3 devices free for life! 00:16:26 Don’t hire an accountant today 00:17:14 Humanize your Relationship with the IRS 00:18:40 You are the IRS’s customer 00:20:20 Request a different agent 00:20:48 Communicate with the IRS 00:23:07 The new 2018 Tax Laws 00:24:00 Tracking – and finding – your deductions 00:27:00 Put your business owner hat on and ask for NFL tickets 00:29:45 Look at your personal retirement accounts and options 00:31:37 SBS 161 Outtro
How Pass-Through Income Will Be Taxed In 2018 For Small Business Owners
 
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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.
Monthly Tax Record-Keeping Log | DAYCARE & SMALL BUSINESS TAX TIPS
 
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We are almost half way through the year - have you been staying on top of your record keeping? If we want to make sure we don't head in to the new year with hundreds of receipts looming over us, we have to stay on top of our record keeping. In today's video, I share a monthly tax record-keeping log that will streamline your tax preparation and makes doing those things you hate to do a breeze when you get to check it off on a list! MENTIONED IN THIS VIDEO: - Record Keeping Tips Video: https://youtu.be/fVb4438VCPg - Record Keeping Tracker Printable: http://www.worklifeglue.com/wp-content/uploads/2018/05/Record-Keeping-Tracker-Work-Life-Glue.doc - Open Office: https://www.openoffice.org/ - Time Space vs 100% Deductible Article: http://tomcopelandblog.com/how-to-calculate-your-time-space-percentage-before-the-year-is-over - Standard Meal Rate Allowance: http://tomcopelandblog.com/how-to-claim-food-expenses - Freedom Filer: http://www.freedomfiler.com/ --------------------- FOLLOW US! 📝 BLOG: http://www.worklifeglue.com/ 📸 INSTAGRAM: https://www.instagram.com/sarahwlg/ or https://instagram.com/sanwlg/ 📘 FACEBOOK: https://www.facebook.com/WorkLifeGlue/ 📌 PINTEREST: https://www.pinterest.com/worklifeglue/ 📧 EMAIL: [email protected] [email protected] 🐤 TWITTER: https://twitter.com/WorkLifeGlue *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 content. :) Music by Epidemic Sound (http://www.epidemicsound.com) 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!
Views: 2024 Work Life Glue
Tax Changes 2018 2019 - IRS Tax Law Updates
 
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Tax Law changes for 2018 will discuss differences in the tax filing for 2018, filed in 2019, compared to the prior year tax filing for 2017 due in 2018. For specific tax advice consult a tax professional. There are many changes to the IRS tax code for 2018 in comparison to the prior year. We will look at an overview of the big IRS tax law changes as an introduction to the topic of taxation. We will start with a discuss of why we should learn tax and how we can approach the learning of tax law to get the best results. 6:36 Changes to form 1040 https://youtu.be/EAeqkxeaASs?t=389 We will then discus the changes to form 1040. The form 1040 will look much different in 2018 then 2017, Form 1040 being much shorter in 2018. Forms 1040EZ and 1040A have been eliminated. There are new supporting schedules to the form 1040 however. 10:09 Elimination of Personal & Tax Exemption https://youtu.be/EAeqkxeaASs?t=609 We will then discuss the elimination of the personal and dependent exemptions for 2018. Exemptions acted similar to deduction in 2017 and we got an exemption for ourselves, our spouse, and dependents. The elimination of exemptions in 2018 will simplify the tax code and may be offset by the increase in the standard deduction and other changes for many taxpayers. 12:36 Increase in Standard Deduction https://youtu.be/EAeqkxeaASs?t=756 There has been a substantial increase in the standard deduction in 2018 tax code as compared to the prior year. Because taxpayers must decide to either take itemize deduction or standard deduction, whichever is larger, the increase in the standard deduction will result in less people itemizing. The elimination of the standard deduction is an attempt to simplify the tax code and will have a positive impact to many lower to middle income people. 15:39 Decrease In Tax Brackets https://youtu.be/EAeqkxeaASs?t=939 Tax rates have basically decrease is the simple method of describing the changes to the tax tables. Because we have a progressive tax system our taxes are taxed at multiple rates. Many were hoping we would have less tax brackets to simplify the tax code. We still have a complex tax calculation but we did see a decrease in many rates and positive changes that would lower taxes to most any tax payer if the taxable income was the same. In other words there are two factors for tax liability calculation, taxable income and tax brackets. Given the same taxable income the tax brackets would be less in 2018 then in 2017. 18:34 Child Tax Credit Increase https://youtu.be/EAeqkxeaASs?t=1114 Child tax credit has increase substantially. The increase in the child tax credit will partially compensate or offset the loss of the exemptions for many tax payers. The child tax credit is up to 2,000 for 2018, up from 1,000 in 2017 and much of it is refundable in the 2018 tax changes. 20:40 Limit on state & local tax deductions https://youtu.be/EAeqkxeaASs?t=1240 State and local taxes have been capped at 10,000, a very controversial change. State and local taxes are itemized deduction on schedule A and include state income tax or sales tax and property tax. Itemized deduction have already been marginalized with the increase in the standard deduction. The state and local taxes are one of the big factors, along with mortgage interest, that push most people into a point of itemizing instead of taking the standard deduction. This change in the tax law could result in many less people itemizing and could increase taxes for sum, especially those in state that have a high cost of living. 24:58 20% Pass-Through Tax Deduction https://youtu.be/EAeqkxeaASs?t=1498 The 20% pass-through tax deduction tax law change could have a huge impact on individuals that have small business. The law is complicated however, so may not contribute to the simplification of the law, but could help small business save on their tax bill. Business entity types this law covers includes sole proprietors who report on schedule C, LLCs, S corps, and partnerships. 27:30 New Tax Credit For Other Dependents https://youtu.be/EAeqkxeaASs?t=1650 There is tax credit up to 500 for non qualifying child dependents. After losing the exemption this credit could help compensate or offset the loss, taxpayers still getting tax savings for supporting a dependent. 29:00 Limitation On Home Mortgage Interest Deduction https://youtu.be/EAeqkxeaASs?t=1740 The tax law changes have limited the amount of home loan for which the related interest can be deducted to 750,000. Most taxpayers will not have a loan over 750,000 but this change may hurt those who live in high cost of living states. We also loss the ability to write off interest for loans where the the house is used a collateral but the money was not spent on the home. 32:36 Elimination of 2% Misc. Deduction & Casualty & Theft Losses https://youtu.be/EAeqkxeaASs?t=1956 For more accounting help http://accountinginstruction.info/
2018 Tax Changes For Businesses (2018 Business Tax Rules Explained!) Tax Cuts and Jobs Act 2018
 
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2018 Tax Changes For Businesses (2018 Business Tax Rules)2018 Business Tax Rules Explained!(Tax Cuts and Jobs Act 2018) 2018 Income Tax Changes for Businesses explained! (2018 Federal Income Tax Rules) . VERY DETAILED AND EASY TO FOLLOW.... Learn about Donald Trump's new tax laws. Tax Reform 2018. 2018 Federal Income Tax Rules! Downloadable notes included below. The Tax Cuts and Jobs Act bill brings numerous new changes to the world of taxes. In this video you learn how these changes may impact your personal tax return and your business. You can follow the links here to download the spreadsheet: https://www.dropbox.com/s/kxp38y9kw0zejgc/2018%20business%20tax%20updates.xlsx?dl=0 Video Outline and Time Stamps so you can quickly jump to any topic: • How to download business tax law updates spreadsheet - 0:37 • Business filing due dates - 2:12 • 2018 Corporate Tax Rates - 2:54 • Depreciation updates 2018 - 4:12 • Standard mileage rates- 6:25 • Meals and Entertainment and Fringe benefit rules - 6:40 • Excessive business loss limitation (IRC 461) - 9:33 • Net Operating Loss rules for 2018 - 10:24 • Business Interest Deduction Limitations IRC 163(j) - 11:09 • Business Research Expense Rules 2018 - 12:10 • Like-Kind Exchanges (1031 Rules for 2018) - 12:45 • Section 199A Deduction - 13:54 • Hobby Loss Rules 2018 - 18:33 • Minimum tax credit refundable for corporations - 19:33 • Important links - 20:08 Check out some of our other videos and playlists here: ♦ Investing in the stock market!: https://goo.gl/yVAoES ♦ Save money, budget, build wealth and improve your financial position at any age: https://goo.gl/E97nJj ♦ Learn more about how federal income taxes work: https://goo.gl/D1hCX1 ♦ Ways to improve your life at any age: https://goo.gl/uq72bu Subscribe for our future weekly videos. New videos typically every Sunday or Wednesday. Do not forget to help out a friend and share this information with them as well. About me: I'm passionate about helping people build wealth by learning more about personal finances, investing and taxes. My mission is to help people improve their financial position career and life. I also enjoy teaching others about the accounting profession, tech tips, and helping people overcome challenges in their everyday life as well as their career. You can find our content on other internet planets such as....... My Website: Moneyandlifetv.com Twitter: https://twitter.com/Mkchip123 Facebook: https://www.facebook.com/moneyandlifetv/ ***Disclaimer*** All of the information in this video is presented for educational purposes only and should not be taken as financial, tax, or investing advice by any means. I am not a financial adviser. Although I am a CPA I cannot advise someone for tax purposes without knowing their complete tax situation. You should always do your own research before implementing new ideas or strategies. If you are unsure of what to do you should consider consulting with a financial adviser or tax accountant such as an Enrolled Agent, or Certified Public Accountant in the area in which you live. Thanks for taking time to check out this video, and our channel. Have a great day and we will see you in the next video!
Views: 12664 Money and Life TV
Business Taxes 2018-2019 -How To Avoid Paying Small Business Tax Without Using An LLC Or S-Corp
 
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Business Taxes 2018-2019 -How To Reduce Or Avoid Paying Small Business Tax Without Using An Llc Or S-Corp 👉 https://e8w74.app.goo.gl/3wfg 👈 Grow your Shopify.Store 👉 https://e8w74.app.goo.gl/shopify 👈 design a web page free 👉https://e8w74.app.goo.gl/clickfunnels A corporate tax, also called corporation tax or company tax, is a direct tax imposed by a jurisdiction on the income or capital of corporations or analogous legal entities. Many countries impose such taxes at the national level, and a similar tax may be imposed at state or local levels. The taxes may also be referred to as income tax or capital tax. Partnerships are generally not taxed at the entity level. business tax - small business tax advice and tax deductions. What you need to know about Schedule C and other small business taxes and tax forms LLM International Business Tax Law 2018 With the Income Tax Act 2015 introduced in the beginning of the year, new business tax laws are now in place 2018 business tax changes is a big win for small businesses National Association of Enrolled Agents (NAEA) offers the following small business tax tips to coincide with national Small Business Week The Ultimate Small Business Tax Preparation Checklist pay additional state and local taxes that are applicable to your business. business taxes 2018-2019-2018 tax changes for small business ways to reduce business taxes under trump's tax plan vmb small business tax advice and tax deductions avoid paying taxes legally!!! the power of a home-based business 2018 tax changes for small business sky news - live how to pay taxes on your small business how trump's tax plan will affect small business owners (attention all entrepreneurs!) understanding tax returns for small business owners how do i budget a small business? plus self employed taxes 101 2018 tax update for the self employed | a brief digestible summary of the new tax laws how do small businesses pay taxes? google Filing and Paying Your Business Taxes | Internal Revenue Service What is the business tax rate? How much does an LLC pay in taxes? What are the types of business taxes? How much can a small business make before paying taxes? Business Taxes | Internal Revenue Service - IRS.gov Apr 12, 2018 - Refer to Business Structures to find out which returns you must file based on the business entity established. The federal income tax is a pay-as-you-go tax. You must pay the tax as you earn or receive income during the year. Aug 2, 2018 - An Employer Identification Number (EIN), also known as a federal tax identification number, is used to identify tax reports to the IRS. Business Taxes. The form of business you operate determines what taxes you must pay and how you pay them. Estimated Taxes. Federal income tax is a pay-as-you-go tax. Excise Tax. The federal government taxes businesses that manufacture or sell certain products. You may also have to pay this tax in other situations, including if your business uses various types of equipment, facilities, or other products. ‎Business Taxes · ‎Energy Tax Incentives · ‎Tax Relief in Disaster ... Types of Business Taxes - The Hartford There are four basic categories of taxes that might affect business owners. Here is a list of business taxes, how they are determined, and a game plan to help ... About the Business Tax | Los Angeles Office of Finance The City of Los Angeles Business Tax is a privilege tax imposed for revenue purposes only to support the essential services the City provides. No attempt is ... Business Taxation | Tax Return | Hesperia, CA - Best Tax Service What You Need To Know About Measure 26-201: A Business Tax For A Clean Energy Fund In Portland Walmart letter warns tariffs will raise prices and tax American businesses 760-947-6729 - Get complete help in tax preparation from Best Tax Service. Find tax filing services for individuals and businesses. Small Business Taxes: The Virtual Workshop - IRS Video Portal What you need to know about Schedule C and other small business taxes and tax forms. Lesson 3. How to file and pay your taxes electronically. Lesson 4. Business Taxes | Treasurer & Tax Collector The Office of the Treasurer & Tax Collector collects business taxes and fees for various licenses and permits that are required by the San Francisco Business ... google vidz How to Pay Taxes on Your Small Business - YouTube The reason small-business owners love Trump's tax plan - CNBC.com Here's why Trump's tax plan will hit Californians especially hard - Los How the 2018 Trump Tax Reform Affects Your Small Business Trump 'small business' tax cut is not what it appears to be Individual & Business Tax Preparations — Exact Tax How Do Small Business Tax Deductions Work Business Registration | Treasurer & Tax Collector California Department of Tax and Fee Administration https://en.wikipedia.org/wiki/Corporate_tax https://youtu.be/Gj5pSVpKV4M https://www.wsj.com/articles/the-corporate-tax-cut-is-paying-for-itself-1537310846
Views: 708 HOUSTON MCMILLER
Thursday business tip Income tax for small business Part 1
 
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Thursday business tip Income tax for small business Part 1 Success Path https://hardworkingmom.com/product/loris-success-path/ Or https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=TRVD2FHKM4FYW Wreath group https://hardworkingmom.com/product/design-with-hard-working-mom-wreath-therapy-on-steroids/
Views: 1082 Hard Working Mom
How to Calculate Quarterly Estimated Taxes | simpleetax
 
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This was Part 2 from the Chicago Vocal Arts Consortium's Facebook Live event. In this video we cover Best Practice Tip #2 for 2018 - How to Calculate and Pay quarterly estimated tax payments. IRS Link: https://directpay.irs.gov/directpay/payment?execution=e1s1 Email: [email protected] This video is for entertainment and informational purposes only and should not be considered tax advice. By watching or commenting on this video, we are not forming a professional relationship. If you seek specific tax advice, please consult a CPA from your local area.
Views: 9342 simpleetax
How To File Your Taxes As An LLC
 
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Here is how to file your taxes as an LLC...Lets break this down together. Make Sure To Visit Us At: https://www.byronrileycpa.com/ Join Us On Facebook For FREE tax Tips: https://www.facebook.com/ByronRileyCPA/ Twitter: https://twitter.com/byroncpa_mvp #howtofileyourtaxesasanllc #hottofiletaxasanasllc #filingtaxes
Views: 778 Byron L. Riley, CPA
How does a LLC Pay Quarterly Taxes?
 
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How does a LLC Pay Quarterly Taxes?
Views: 1508 Home Biz Tax Lady
What Tax Forms do I File For My Business?
 
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What Tax Forms do I File For My Business? LLC | Corporation | Sole Proprietor (1099, DBA) | Partnership | S-corp
IRS Webinar: Tax Tips for Your New Business
 
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Please Subscribe, Like & Share for more IRS and Income Tax related videos. IRS Webinar: Tax Tips for your New Business (May 2, 2016) This webinar will cover many of the important issues that new business owners need to know, including: - Is it a Business or Hobby? - Selecting a Business Structure - Understanding Business Taxes - Recordkeeping Requirements - How to Choose a Tax Preparer - Where to go for IRS help Presentation PDF: https://www.irsvideos.gov/TaxTipsForYourNewBusinessWebinar_20160502/userfiles/a7841d58-d1e3-4ba4-8d8d-d87b25eaa2e2/materials//Powerpoint_Presentation%2014468.pdf
Views: 187 Joan Ferreira
How To File Your Etsy Taxes - Etsy Tutorial
 
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Hey Guys! Check out the LINKS BELOW!!! Thanks for watching my short tutorial on how to do your Etsy taxes the easy way. // Links: ▸ If you are interested in signing up for Quickbooks Self Employee, use this link: https://selfemployed.intuit.com/friends?utm_source=Friendbuy&cid=par_friends_US_referral_personal_url_QBSE&utm_campaign=Sitewide%20Button%20($30%20reward)%20-%20Amazon&utm_content=personal_url&fbuy_ref_code=i3DED&utm_medium=referral to receive 50% off for 6 months. ▸ Registered for online tax payments here: https://www.eftps.gov/eftps/index.jsp ▸ Make sure to download free PDF form with 2018 Tax Information at: https://www.irs.gov/pub/irs-pdf/f1040es.pdf ▸ Open an Etsy Shop today and get your FREE 40 listing here: https://etsy.me/2GgiWIL // WHAT'S NEXT ▸ Get exclusive content you can't get here by visiting my blog at: http://nancybadillo.com ▸ Sign up for my emails (& get free stuff!) http://nancybadillo.com ▸ Please subscribe to my YouTube Channel to stay updated with my latest videos! https://www.youtube.com/c/NancyBadillo 💕FOLLOW ME ON SOCIAL MEDIA 💕 ▸ Blog | http://www.NancyBadillo.com ▸ Facebook | http://Facebook.com/blogwithnancy ▸ Twitter | http://Twitter.com/NancyBadillo13 ▸ LinkedIn | http://LinkedIn.com/in/NancyBadillo ▸ Google + | https://plus.google.com/+NancyBadillo ▸ Pinterest | https://www.pinterest.com/nancybadillo/ ▸ Instagram | http://instagram.com/nancybadillo13 💕Contact Me (Business Inquires Only)💕 [email protected] 💕Thank you for watching, commenting, and liking!💕 // DISCLAIMER ▸ This is NOT a sponsored video. ▸ Some affiliate links are used, which means that I earn a small commission if you click the link and make a purchase.
Views: 2342 Nancy Badillo
HOW TO FILE INCOME TAX RETURN (ITR 4) A.Y. 2018-19 FOR SMALL BUSINESSMAN
 
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This video explains how a small businessman can file his own income tax return. This video shows how a businessman can file his own ITR 4 u/s 44 AD. After watching this video you will able to know : Thank you all for watching the video. You can download the balance sheet format with the following link: https://drive.google.com/file/d/1OXSC... How to file Income tax return ITR 4? How to file Income tax return for business ? How to Quick file ITR 4 Online in India? How to file ITR u/s 44 AD ? What is presumptive taxation ? How to file ITR for small business ? How to pay your income tax online ? How to e verify your ITR ? Assessment Year 2018-19 Financial Year 2017-18 How to file Income tax return for business person online? How to file Income tax return online in India for business for AY 2018-19. Can I file ITR 4 AY 2018-19 online? How to file ITR 4? How can I file my income tax return online for AY 2018-19? ITR 4 for FY 2018-19 is for Business ? Hello Friends I have explained the procedure to file income tax return online in India for AY 2018-19 (FY 2017-18) detail. Kindly follow the instructions and queries to be asked in comment box below. First goto www.incometaxindiaefiling.gov.in Then logon to your account Then Goto E File Then click on File Income Tax Return online Then select ITR 4 for AY 2018-19 ITR 4 is normally for small businessman having turnover less than Rs. 2.00 Cr. you can file return online by selecting appropriate form. After Selecting Income tax return ITR 4, now to file Itr 4 online for AY 2018-19, you need to select the appropriate assessment year and then preifill data , this return is for salaried people who earned the income in financial year 2017-18. So Just follow the instructions and keep going , at last Click on submit to submit your income tax return ITR1 for AY 2018-19 to income tax department. In this way you can easily e file your income tax return ITR 4 for AY 2018-19.
Views: 23204 Tax Guru Ji
Top Business Deductions for your 2018 Taxes
 
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Top 10 Often Missed Tax Deductions for Business in 2018, Discussed in Detail For Non-Business Deductions: http://www.quickbooks-training.net/expenses-deductible-personal-tax-return/ This Video is for the top 10 business tax deductions that are most often misused, misunderstood, missed, and/or abused... 00:03:46 - What is deductible? All Ordinary and necessary expenses... 00:06:30 - Skip Intro, go to HOME OFFICE EXPENSES 00:11:21 - VEHICLE EXPENSES 00:18:04 - INSURANCE EXPENSES 00:24:08 - CHARITY AND POLITICAL CONTRIBUTIONS 00:27:41 - MEALS AND ENTERTAINMENT 00:31:27 - TRAVEL EXPENSES 00:36:53 - EMPLOYEES AND SUBCONTRACTORS 00:41:02 - RETIREMENT AND DEFERRED COMPENSATION PLANS 00:43:25 - WRITING OFF OPEN RECEIVABLES, PAYABLES, AND INVENTORY 00:49:19 - START-UP EXPENSES AND OTHER EXPENSES PAID OUTSIDE OF BUSINESS BANK ACCOUNTS 00:51:08 - BONUS: QUALIFIED SMALL BUSINESS AND PASSTHROUGH ENTITY DEDUCTION (Sec. 199A) Most new entrepreneurs ask they accountant this real common question: “Which expenses are deductible for my business?” The answer I give to all my clients is: “Any expense that is necessary, ordinary, reasonable, documented, and legal may be deductible…” …and what do these terms mean? * Ordinary: means it is commonly accepted in the industry and seen often with other businesses in the same trade * Necessary: means the expense was required in order to generate the business income or it was incurred as a consequence of the income producing activities. But it does not need to be indispensable in order to be deductible * Reasonable: this is very subjective, but in essence it means it is not lavish or extravagant * Documented: means that the taxpayer has the burden of proof to prove the expense existed, that the amount reported is accurate, and it has a true business purpose (necessary) * Legal: the expenditure cannot break any laws, be considered a bribe, or made in connection to an illegal activity / or activity in which the business does not gave the legal capacity to perform It also also worth mentioning that there are 10 tax deductions very commonly missed, misused, and/or abused, and those are: 1. Home Office Expense: Frequently failing to document the square footage of the home, creating a business-only environment, and document its business purpose is the most common issue 2. Vehicle Expense: mixing personal and business use of vehicles and not properly tracking milage is a large are of non-compliance 3. Insurance: Specially with health and life insurance, which have very special rules in order to be deductible.. in many cases these may NOT be deductible if rules are not followed 4. Charity and Political Contributions: For pass-through entities, such as S-Corporations and Partnership/LLC’s, charity is “deductible” only on the persona return, but most taxpayers cannot get any benefit for it because of standard deductions. Political contributions are NEVER deductible 5. Meals & Entertainment: the “entertainment” factor really affects the deductibility of this expenses. NOTE: in 2018, there are significant changes in the tax code for Entertainment expenses 6. Travel Expenses: frequently combining personal with business travel is a large priblem 7. Employees and Subcontractors: not properly correctly categorizing employees or contractors and reporting them as such; which may lead to large payroll tax penalties or disallowance of contractor expenses 8. Retirement and Deferred Compensation Plans: failing to include ALL the employees in the company plan and/or not taking advantage of the income deferral tax deductions 9. Proper Write-off: of open invoices/receivables that are deemed uncollectible, open bills/payables that will not be paid, and adjusting Inventory quantity/valuation. For ACCRUAL-BASIS taxpayers 10. Pre-startup costs: made before the business started and.or in connection to setting up the business. Also some business owners tend to “cover” business expenses with personal funds or personal credit cards (outside of the business bank accounts) and forget to register it in the business books 11. BONUS: Section 1099A... More to come my e-mail: [email protected]
Views: 7978 Hector Garcia CPA
TurboTax or H&R Block, Which is Better for Individuals and Small Business Owners? | simpleetax
 
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This video covers my review of TurboTax and H&R Block tax softwares based on three categories: price, user friendliness and which one resulted in the largest tax refund. Music: Pacific Sun (www.hooksounds.com) Email: [email protected] This video is for entertainment and informational purposes only and should not be considered tax advice. By watching or commenting on this video, we are not forming a professional relationship. If you seek specific tax advice, please consult a CPA from your local area.
Views: 2643 simpleetax
Self Employed Schedule C small business Taxable Income 2018 2019
 
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Self employed income is usually reported on schedule see and generally relates to business activity. Schedule C is basically an income statement, showing revenue and expenses for the business, the resulting net income being included in the calculation of gross income. Self employment income is generally small business income, income from a sole proprietor type of business. For more accounting and tax information see accounting website. http://accountinginstruction.info/
HOW TO FILE ITR4(INCOME TAX RETURN) LIVE DEMO FOR SMALL BUSINESSMAN, PROFESSIONALS AY 2018-19
 
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HOW TO FILE ITR4(INCOME TAX RETURN) FOR SMALL BUSINESS MAN, PROFESSIONALS, TRANSPORTERS FOR A.Y 2018-19 DETAILED EXPLANATION IN TELUGU Balance sheet link - https://drive.google.com/open?id=1RYpu41qAXE_WcIxqjU_Zs5J4a35gCPVEQVx2_XHfKaI #ITR4Filing#HowToFileITR4#ITR4Telugu#IncomeTax
Views: 4097 Online Guide Telugu
HOW TO FILE INCOME TAX RETURN (ITR 4) A.Y. 2018-19 FOR SMALL BUSINESSMAN (in hindi) | ITR 4 FILING
 
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ITR 4 (SUGAM) FOR SMALL BUSINESSMAN HOW TO FILE INCOME TAX RETURN (ITR 4) FOR SMALL BUSINESSMAN FY 2017-18 & AY 2018-19 (IN HINDI) LIVE: This video explains how a SMALL BUSINESSMAN, TRANSPORTERS AND PROFESSIONALS can file his own income tax return U/S 44AD, 44ADA, 44AE BEFORE FILING ITR 4 DON'T FORGET TO KNOW (ITR 4 (SUGAM) FILE करने से पहले ये CONDITIONS जरूर जान लें | ITR 4 for FY 2017-18 and AY 2018-19)- CLICK HERE TO WATCH DETAILED VIDEO: https://youtu.be/c5WLmxou5AY EFILING WEBSITE IS : www.incometaxindiaefiling.gov.in In case you want to download Trading and Profit and Loss account and Balance sheet for ITR 4 click here: http://cagurujii.blogspot.com/2018/05/profit-and-loss-and-balance-sheet.html After watching this video you will able to know : How to file Income tax return ITR 4? How to file Income tax return for business ? How to Quick file ITR 4 Online in India? How to file ITR u/s 44 AD ? What is presumptive taxation ? How to file ITR for small business ? How to pay your income tax online ? How to e verify your ITR ? Assessment Year 2018-19 Financial Year 2017-18 How to file Income tax return for business person online? How to file Income tax return online in India for business for AY 2018-19. Can I file ITR 4 AY 2018-19 online? How to file ITR 4? How can I file my income tax return online for AY 2018-19? ITR 4 for FY 2018-19 is for Business ? How to register and login on income tax efiling website to file income tax return : https://www.youtube.com/watch?v=zCJLR... How to E-Verify Income tax return or ITR V to save time to send hard copy of ITR V to CPC: https://www.youtube.com/watch?v=t7CWg... online 26as traces / how to view and download 26as from traces | view tax credit statement: https://www.youtube.com/watch?v=yvqYQ... Visit our website: https://cagurujii.blogspot.in Follow Us: * Facebook Page: https://www.facebook.com/CAGuruji/ *Twitter: https://twitter.com/cagurujii *Instagram: https://www.instagram.com/caguruji/ * Website: https://cagurujii.blogspot.in * Our another channel *Right Info Corner: https://www.youtube.com/channel/UCnB-gg8-_UEvytau8QD1EwQ Our playlists are: You can watch our GST video by clicking on following links: 1) Income tax returns (ITR 1, ITR2, ITR3, ITR4, ….. https://www.youtube.com/watch?v=rQgRZLsA0B4&list=PL8hfcwuOJ2TTh8T6bcIWTsPuJD7F-aQnV 2) income tax saving or investment options to save tax: https://www.youtube.com/watch?v=XfBFobWDcws&list=PL8hfcwuOJ2TSLRlqeVuXch2MchSCcr4xD 3) GST videos: https://www.youtube.com/watch?v=WWMcL1U6sLA&list=PL8hfcwuOJ2TQFCWzMaYGQ3dIaC7NpEI3d 4) Trending videos: https://www.youtube.com/watch?v=9wqc0TMuWAA&list=PL8hfcwuOJ2TTFFWw2nBAC504i7qb8QLcb ****Makeup products I usually apply for videos are: Lipstick: Sugar Cosmetics: https://amzn.to/2qK3IkU Lakme 9 to 5 : https://amzn.to/2HdcKh7 Foundation: Maybelline FIT ME: https://amzn.to/2qInXzp COMPACT: Maybelline FIT ME: https://amzn.to/2qK476V MASCARA: MAYBELLINE COLLOSAL MASCARA: https://amzn.to/2qKhDal KAJAL: MAYBELLINE COLLOSAL : https://amzn.to/2qKoi4p **Products I use for video recording: Mike for Audio recording: http://amzn.to/2xb0FVh iball Rocky with mike, headphone and speakers: http://amzn.to/2vnISYy Camera:http://amzn.to/2xbyvZY DSLR: http://amzn.to/2w1UMJB Xiaomi Redme note 4 : http://amzn.to/2g3kn14 Camera Stand: http://amzn.to/2xNB9FE Mini Tripod Universal YT-228 for Digital Camera & All Mobile Phones- Black (YT-228 Tripod) http://amzn.to/2xO1Av2 Laptops: Lenovo Ideapad 320E 80XH01GKIN 15.6-inch Laptop (6th Gen Core i3-6006U/4GB/1TB/FreeDOS/Integrated Graphics) http://amzn.to/2f1WZgQ HP HP 15 HP Notebook 15-BS549TU 2017 15.6-inch Laptop (Celeron N3060/4GB/500GB/Windows 10 Home Single Language(64 bit)/Integrated Graphics), Jet Black http://amzn.to/2xNK4XW Desktop: Lenovo 510S-08IAP 90GB000QIN 21.5-inch All-in-One Desktop (Intel Core i3 7th Gen/7100/4GB/1TB/DOS/Integrated Graphics) LED IPS Monitor: http://amzn.to/2xNepWm Please Like, Share and Subscribe THANKS FOR WATCHING TEAM CA GURU JI #HOWTOFILEITR4 #HOWTOFILENEWINCOMETAXRETURNITR4 #itr4new #newitr4 #itr4sugam #howtofileitr4 #howtomakebalancesheetforitr4 #itr4for2018 #itr42018new #whocannotfileitr4 #whocanfileitr4 #presumptiveincomeforitr4 #44ad #44ada #44ae
Views: 72506 CA Guru Ji
Pass-Through Deduction for Small Business: 2017 Tax Cuts and Jobs Act
 
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This is David Groce, your Texas Tax and Law Man. Today we are tackling the Pass Through Deduction found in the 2017 Tax Cuts and Jobs Act. Of all the provisions in the new law, I was most excited about this one. I won’t say I’m disappointed, but I sure was hoping that all pass-through Income would be subject to the same 21 percent tax rate as corporations. That would have been a game changer for my average client. But alas, the small town business man did not win as much as wall-street. But in the modern marriage of Wall-Street and Washington, I guess I should not be surprised. Nevertheless, small business owners paying tax as a partnership, S-corp, or sole proprietorship now receive a pass through deduction of twenty percent (20%) of their qualified business income. The small business owners understand this, but let me simply state what pass-through income is. In a corporation, the corporation pays tax on its income at the corporate level. It then pays a dividend to its shareholders and the shareholder pays tax on the dividend. That is called double taxation. The corporation and the shareholder both pay tax. In a pass-through entity like an S Corp, an LLC filing taxes as a partnership, or a sole proprietorship, the company itself DOES NOT pay taxes. The earnings pass-through or flow to the partner or owner’s tax return and the owner pays tax at the individual tax rate on that net income of the company. That is pass-through taxation. The new law gives these business owners pass through tax deduction of twenty percent of the qualified business income. However, the new law provides three (3) qualifiers on this deduction: First, this deduction does not apply to service businesses that make over $315,000, like attorneys, accountants, and doctors. Humorously, stock-brokers were specifically exempted. I guess wall-street had better lobbyists than the lawyers. Also, engineers and architects were exempted. I may be poking fun at the law, but this creates real questions for my clients - are they selling a product or a service. Think about your insurance agent. He sells you an insurance policy, but the insurance company pays the agent a commission for selling the policy. Is that a service or not? Arguing for the taxpayer, I of course would say it is not, but we do not know the position the IRS will take. Second, the deduction is limited by the wages and capital of the business. The twenty percent deduction cannot exceed: 50% of the wages paid by the company or 25% of the wages paid plus 2.5% of the purchase price of the assets. Both of these limitations may totally limit the deduction for some taxpayers. Third, the deduction applies to each business. Unless a taxpayer makes an election to combine the qualified business income of multiple entities, we will have to run this deduction on each business separately. Finally, the 2017 Tax Cuts and Jobs Act tells what the pass-through-deduction is, but not exactly where we take it. We may claim it on line beside the standard deduction or on a separate line on the return. We do not know if this deduction reduces only taxable income or does it also reduce the self-employment tax. These are uncertainties that we will have to walk out and tease out in coming months. This is going to be an exciting year with lots of changes. A couple of videos back, I shared Einstein’s amazement with the complexity of tax law. Today, let me share a little Einstein humor that I think applies to the math involved in calculating taxes: “As far as the laws of mathematics refer to reality, they are not certain; and as far as they are certain, they do not refer to reality.” Accountants crave certainty, but change and uncertainty is part of the wonder and adventure of life. Keep us in mind if you need help navigating the uncertainty of planning, running, and paying taxes on a business this coming year. Thanks for tuning in to our tax video today. If it helped you, 'click' like and subscribe below and forward this link to a friend on Facebook, LinkedIn, Twitter, or YouTube. Next week, we will unveil our long awaited tax comparisons between various taxpayers under the old law and the new. Make sure you stay tuned. You don’t want to miss it. Adios!
Views: 1377 David Groce
Self Employment - Paying Estimated Quarterly Tax
 
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Self-Employment Taxes #1 When to make business quarterly estimated tax payments? April 15th June 15th September 15th January 15th following year How much to pay for business quarterly estimated tax payments? Either 100% of last years tax liability or 90% of this years estimated tax liability. How to pay IRS? https://www.youtube.com/watch?v=4OncCAmBlbg https://eataxresolutions.com/ 1-800-245-0596 Facebook: https://www.facebook.com/EaTaxResolutions/ Yelp: https://www.yelp.com/biz/ea-tax-resolutions-newport-beach?osq=Tax+Services Anthony Fontana, E.A.
Views: 2334 EA Tax Resolutions
20% Business QBI Deduction Tax Rules Explained!  - Very Detailed
 
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20% Business Deduction Explained! (How the 2018 199A Qualified Business Income Deduction Works) Part 1 of 2 The downloadable word doc handout can be found here:https://www.dropbox.com/s/k55x8s0lxfexyql/199A%20Handout.docx?dl=0 For a complete over view of the business tax law changes please see this video here: https://youtu.be/eAkx_6kaOE8 My complete tax playlist can be found here: https://www.youtube.com/playlist?list=PLSofnwEEZdUwO76397C824IRz5xofXEQz Time Stamps: •(What is 199A?) What is the qualified Business Income Deduction: 2:10 •What counts as qualified Business Income : 3:10 • Is rental income qualified business income? 3:41 • What is NOT qualified business income? 4:20 • Do you have to be active in the business to receive the qualified business income deduction? 5:48 • 199A Qualified business income deduction limitations 6:28 • 199A deduction calculation example: 7:25 • What type of businesses qualify for the 20% 199A deduction? : 10:32 • What is a qualified trade or business? : 11:35 • Income limitation phase in explained : 13:08 • What is a specified service trade or business?: 14:35 What is 199A? (How does the QBI Deduction Work) For the years beginning January 1st 2018 through December 31, 2025 A taxpayer other than a corporation is entitled to a deduction equal to 20% of the taxpayer’s “qualified business income” What is qualified business income? The taxpayer should determine their “qualified business income” for each business they own (If multiple businesses are involved) Qualified business income is defined as the net amount of qualified items of income, gain, deduction and loss with respect to a qualified trade or business that is effectively connected with the conduct of a business within the United States. Short-term and long-term capital gain and losses. What is not qualified business income? - Dividend income - Any interest income - Net gain from foreign currency transactions - Income from national principal contracts - Amounts received from an annuity - Compensation (Wages) - Guaranteed payments 199A deduction limitation: The deduction is limited to 20% of lesser of - Qualified Business Income OR - Taxable income AFTER reduction for any net capital gains, but BEFORE the 199A deduction is taken into account. Example: MFJ taxpayer has the following: - $100,000 of QBI (Qualified business income) - $100,000 in Long-term capital gains - ($30,000 of tax deductions) - Net taxable income in this example would be $170,000. The 199A deduction is limited to the lesser of $20,000 ($100,000 x 20%) or $14,000 (20% of $70,000). The $70,000 is calculated by taking the total net taxable income of $170,000 - $100,000 capital gains) = $70,000 Result: In this example is $14,000 199A deduction. This means $14,000 of this person’s business income is no longer subject to tax. Businesses and/or taxpayers who do not qualify for the 199A deduction: - C corporations do not qualify - Individual employees do not qualify. You have to have ownership interest in the business to qualify. What is a qualified trade or business? Every business is a qualified trade or business as defined under section 199A with the exception being. - The trade or business of performing services as an employee - A specified service trade or business Exception of 199A deduction for Specified service business: The deduction is allowed if the taxpayer claiming the deduction has taxable income of less than $315,000 (if married filing jointly; $157,500 for all other taxpayers). Because the two W-2-based limitations also do not apply when taxable income is below those same thresholds, a taxpayer in a specified service business with taxable income below the thresholds simply deducts 20% of any qualified business income (subject to the overall limitation). Where to find more information: - Irs Notice 2018-64 https://www.irs.gov/pub/irs-drop/n-18-64.pdf - IRS 199 Proposed Regs: https://www.irs.gov/pub/irs-drop/reg-107892-18.pdf - IRS FAQ re: 199A: https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-provision-11011-section-199a-qualified-business-income-deduction-faqs - Forbes article written by Tony Nitti: https://www.forbes.com/sites/anthonynitti/2018/08/09/irs-provides-guidance-on-20-pass-through-deduction-but-questions-remain/#e8c2c2c2ff84 - Article on 199A written by KPMG: https://home.kpmg.com/us/en/home/insights/2018/08/tnf-initial-impressions-proposed-regulations-irs-guidance-for-section-199a.html
Views: 6869 Money and Life TV
How I do my tax return in 2018 for the 2016/17 tax year [8]
 
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In this video I'm filling in an actual UK self assessment tax return (online) for the 2016/17 tax year, deadline 31 Jan 2018. This is based on a single very simple self employed business with £30,000 turnover, £10,000 expenses and therefore a £20,000 profit. I'm also assuming you're using the Cash Basis. As per usual I'M NOT AN ACCOUNTANT! I'm just giving you information that any small business owner should now. I HIGHLY RECOMMEND you seek professional assistance from an accountant - especially for your first tax return. UK Tax Return 2019 Version: https://youtu.be/eUq8qFtHbvk HMRC's '1st Tax Return' Video seems to have vanished off YouTube. If you find it please post a link in the comments. Extra stuff on Patreon: https://www.patreon.com/smallbusinesstoolbox More stuff on the web: https://smallbusinesstoolbox.uk As per usual, I'm not in any way qualified to give you accountancy advice. Always get a good accountant! I've just been self employed for a long time and hopefully I can pass on some of the things I've learned over the years. I use affiliate links - these don’t cost you a penny and help to keep this channel going - thanks so much for your awesome support! MUSIC: Soul Groove by Audionautix is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Artist: http://audionautix.com/ Jellyfish in Space by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1500030 Artist: http://incompetech.com/ #SmallBusiness #BusinessTips #SelfEmployed
Do you pay tax on SMALL EARNINGS from self employment in the UK? (YouTube, Ebay, Etsy etc.) [6]
 
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As a small business owner who also does YouTube one of the most common things I get asked is whether you have to pay tax on YouTube earnings and also small income from the likes of eBay, Etsy and the like? In this video I'm going to hopefully answer that question! This is specifically for the UK for the 2017/2018 tax year but if you're in a different part of the world it would be interesting to hear things are done where you're from! For more small business and self employment tips don't forget to Like, Share & Subscribe! :-) Here's the HMRC guidance for tax free allowances on trading and property income: https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income Also an excellent article here on Accountancy Age that discusses these allowances in more detail: https://www.accountancyage.com/2017/10/09/new-trading-allowance-simplicity-not-know/ Extra stuff on Patreon: https://www.patreon.com/smallbusinesstoolbox More stuff on the web: https://smallbusinesstoolbox.uk As per usual, I'm not in any way qualified to give you accountancy advice. Always get a good accountant! I've just been self employed for a long time and hopefully I can pass on some of the things I've learned over the years. I use affiliate links - these don’t cost you a penny and help to keep this channel going - thanks so much for your awesome support! MUSIC: Ice Cold by Audionautix is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Artist: http://audionautix.com/ #SmallBusiness #BusinessTips #SelfEmployed
Income Tax Return Calculate करने का सभसे आसान तरीका | BASIC| How To File Income Tax Return | 2017-18
 
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Let's Make Your Business Digital With Lapaas. Join Our Most Advanced Digital Marketing Course. That will cover 23 Modules of Business And Digital Marketing like SEO, SEM, Email Marketing, Social Media Marketing, Affiliate Marketing , Digital Identity Creation, blogging, advanced analytics, blogging, video production, Photoshop, business Knowhow, etc To Know More Call +919540065704 or Visit https://lapaas.com/ Lapaas - Best Digital Marketing Institute 455 Shahbad Daulatpur, Delhi-110042 Nearest Metro Station Samaypur Badli Or Rithala Share, Support, Subscribe!!! Youtube: https://www.youtube.com/IntellectualIndies Twitter: https://twitter.com/Intellectualins Facebook: https://www.facebook.com/IntellectualIndies Facebook Myself: https://www.facebook.com/princesahilkhanna Instagram: https://www.instagram.com/intellectualindies/ Website: sahilkhanna.in About : Intellectual Indies is a YouTube Channel, Intellectual Indies is all about improving Mentally, Emotionally, Psychologically, Spiritually & Physically.
Views: 15611 Intellectual Indies
Office in Home Deduction 2018
 
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Office in Home Deduction 2018 // Download our Free PDF to avoid the "10 Biggest Tax Mistakes Agents Make That Cost Them $1000's" GET IT HERE FREE: https://financiallyfreeagent.lpages.co/top-ten-secret-strategies-rich-real-estate-agents-use-to-reduce-uncle-sams-tax-bite/ The Home Office Deduction could be the single most misunderstood section of the IRS tax code. Many small business owners don't take the deduction because they fear it's a "red flag" that increases the likelihood of an IRS audit. But Congress has relaxed the rules in recent years, and many taxpayers leave money on the table by not taking it. We explain the office in home rules in this video, saving you hundreds -- even thousands -- of dollars in taxes you don't have to be paying! _______________________________________________________ Let's connect on social media: Facebook: https://www.facebook.com/IRSProblemSolver/ Instagram: https://www.instagram.com/anchor_man12/ LinkedIn: https://www.linkedin.com/in/jim-flauaus-4006b44/ Twitter: https://twitter.com/Anchor_man1 Download my free "Cheat Sheet", the 10 Ultimate Tax Hacks that Million Dollar ''Rock Star' agents use to keep more commissions in their pocketbook and 'share" less with the IRS. GET IT FREE HERE: http://eepurl.com/deTFCH
Views: 3150 Real Estate Tax Coach
How to Write off your Auto Expenses in 2018 | Mark J Kohler | Tax & Legal Tip
 
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Sign up for my weekly newsletter now! With awesome tax and legal tips, upcoming and current tax reforms, deadlines, special offers from my Lawfirm and Accounting Firm, and much much more! Don't miss out on this opportunity, It's FREE!! how could you get better than that!? Click the link below: http://markjkohler.com/youtube/ Mark Kohler breaks down how you can find ways to save on taxes with your auto expense in 2018- important changes in the law. Download my FREE E-Book "The 10 Best Tax-Saving Secrets Everyone Should Know", or make an appointment for a FREE interview with an attorney or CPA visit: http://www.markjkohler.com/youtube If you liked this video give it a thumbs up and subscribe! Don't forget to hit that bell icon too so you can be notified every time I post a new video! Check out my Law Firm KKOS Lawyers at http://www.kkoslawyers.com Visit my Accounting Firm K&E CPAs at: http://www.ke-cpas.com
Views: 32970 Mark J Kohler
TurboTax Review 2018 - 2019 - The Easiest To Use Online Tax Software Option
 
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I just finished reviewing TurboTax 2018-2019, and I'm excited about how easy it is to use. 💵But, if you don't qualify for free file (and it's limited), they are one of the most expensive options for filing your taxes this year. Check out the full article with all the links here: https://thecollegeinvestor.com/20778/turbotax-review/ Here's what we're going to talk about in this video: ▶︎ Look at the pricing of TurboTax Online 2018 - 2019 ▶︎ See how easy it is to file your taxes and why I like it so much ▶︎ The limitations of TurboTax Free Edition ▶︎ What upsells to avoid and what upsells you should consider Be sure to subscribe: http://www.youtube.com/subscription_center?add_user=thecollegeinvestor ★☆★Resources Mentioned in this video:★☆★ 💵TurboTax 2018 - 2019: http://go.thecollegeinvestor.com/TurboTaxes 💵TurboTax Amazon Deal: https://amzn.to/2EctYxn 💵H&R Block Online: http://go.thecollegeinvestor.com/HRBlock ★☆★ Want More From The College Investor? ★☆★ 💻 Check out my blog here: https://thecollegeinvestor.com/ Connect with me on Instagram: https://www.instagram.com/thecollegeinvestor/
Views: 29459 The College Investor
How to File IncomeTax Return Online in Pakistan (Complete Process)
 
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Today in this video we are going to learn about "How to File IncomeTax Return Online in Pakistan (Complete Process)" in Urdu. In this exciting video we will learn how we can submit our FBR Annual Income tax return online in pakistan at home by ourself without going to Regional tax office or without requesting to someone to submit my income tax return.after watching my this full video of filing of income tax return on fbr or iris,you will be able to submit your fbr income tax return by yourself. You just need to have a computer and a internet connection.first of all open your computer and open the browser google chrome and open the fbr website by entering www.fbr.gov.pk,when fbr website open now click on iris so a new window will open now here enter your registration number or cnic number and below this enter your password and press enter or click on signup. when you login to your id find 116(2)form in the above tab.click on this form now enter the tax pariod of which you want to submit annual income tax return then select the date so a new window will open.here you will see more options so the important thing is that you have to see all the options really carefull that which option suits you so you have to fill that options which suits you,Like personal expenses,household effect,property,cash,vehicles, balance in account, assets in pakistan,income etc. after completing all the information check your all information again and click on calculate two or three times. one thing remember in mind that unconciled amount shoud be 0 otherwise your income tax return will not submit. now when your information complete click on verify enter your pin,when your return verified now you can submit your annual income tax return now click on submit so your fbr income tax return will submit if you want to take copy of your income tax return so click on print button so you will get a copy of your income tax return. now you have to submit 114(1) form too, the same procedure for this form also,like open 114(1)form enter tax period and all your information suits to you and after completing your information verify your return and then submit it. Remember filing Annual income tax return necessory for those people who want to make themself filer on fbr. without submiting incometax return you will not be able to become filer on fbr. Also Questions Solved About: 1)How to File IncomeTax Return Online in Pakistan (Complete Process) 2)How to Submit Income tax return online in Pakistan 3)How to File Fbr Annual Income tax Return online in pakistan. 4) How to submit Fbr annual incometax return online in pakistan. 5) How to file Income tax return for a salaried person. 6) How to file income tax return for a business person. 7) complete process of fbr income tax return filing. 8) how to file income tax return in pakistan. 9) how to submit income tax return in pakistan. 10)filing of incometax return in pakistan. 11)income tax return filing procedure in pakistan. 12)how to file incometax return online for individual in pakistan. 13) how to file incometax return online for salaried employee in pakistan. 14) how to fill income tax return online in pakistan. 15) how to fill fbr income tax return online. 16) how to file incometax return online in pakistan 2018. 17) how to submit fbr income tax return in pakistan 2018. 18) submitting fbr income tax return in pakistan. 19) how to file 116(2) and 114(1) forms online in pakistan. 20) how to submit 116(2) and 114(1) fbr forms online in pakistan. 21) How to submit income tax Return FBR Pakistan Step by step. 22) how to submit fbr income tax return. 23) how to submit fbr incometax return online pakistan. 24) income tax return fbr,fbr incometax return,income tax return,annual income tax return,online tax returns,fbr incometax returns,cometax,fbr,online. #Incometaxreturn#fbrreturn#incometax Thanks for watching my this video if you like this video then do not forget to like,share,comment and subscribe my channel. For more videos please subscribe our channel: https://www.youtube.com/channel/UC2DNEr0FlTjFLnuJMAPzMEA like our facebook page: https://www.facebook.com/farooqkhanofficial45 follow us on twitter: https://twitter.com/FAROOQkOFFICIAL
Views: 61027 Farooq Khan Official
What Income Is Taxable When Self-Employed? 1099-misc 1099-k  [Taxes in TurboTax VIDEO #2]
 
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What income is taxable? Self-employed 1099-misc vs 1099-k vs General Income and how to enter in TurboTax VIDEO #2 OF HOW TO ENTER YOUR BUSINESS TAXES IN TURBOTAX SERIES!
Tax and accounts in the UK... for the self employed [1]
 
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If you're one of the millions of self employed people in the UK it's important that you have a handle on tax and accounts. In this video I'm rambling on about how I do my own Self Assessment tax return in 2015. This is predominantly aimed at people in the UK who run their own small business but feel free to watch it even if you're outside the UK 'cause tax really is that interesting. Note that I'M NOT AN ACCOUNTANT and in 20 minutes I'm only covering some very basic concepts that all small business owners should understand. SPEAK TO AN ACCOUNTANT... and don't forget to hit subscribe! UK Tax Return 2019 Version: https://youtu.be/eUq8qFtHbvk Bit of history, this was my first ever 'business tips' video originally uploaded to my Andy Mac Drums channel in January 2015. It received over 50,000 views making it one of the most viewed UK self employment videos on YouTube. A lot of the information in it is now out of date so please don't use it as a reference. For example, if you're using Cash Basis accounting you can't off-set losses against other income during the same tax year (sideways loss relief). If in doubt, speak to an accountant! Extra stuff on Patreon: https://www.patreon.com/smallbusinesstoolbox More stuff on the web: https://smallbusinesstoolbox.uk As per usual, I'm not in any way qualified to give you accountancy advice. Always get a good accountant! I've just been self employed for a long time and hopefully I can pass on some of the things I've learned over the years. I use affiliate links - these don’t cost you a penny and help to keep this channel going - thanks so much for your awesome support! #SmallBusiness #BusinessTips #SelfEmployed
New Tax Laws For 2018 Real Estate and Small Business (TAXMAGEDDON-Webinar REPLAY)
 
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New Tax Laws For 2018 Real Estate and Small Business. What Every Business Owner Investor Needs to Know! New Tax Laws, tax cuts and jobs act for 2018 Real Estate Small Business 2018 Explained. Easy to understand watch & listen in as Toby Mathis delivers answeres to questions from live attendees regarding the 2018 tax updates and new tax laws. 📺 👉https://youtu.be/QNeAkTWdWNQ Passed towards the end of 2017 the tax cut and jobs act is going to have an impact on most all business owners and taxpayers for the 2018 tax year. Grab a pen or take notes online as one of Andersons founding partners and top tax attorney, Toby Mathis explaines the new tax laws and changes. Get informed now so you're not tax surprised with all the changes later. A few minutes of your time now can have a significant POSITIVE IMPACT and help you realize the deductions you are entitled to. Don't be caught off guard by the 2018 tax reform bill and changes! Many changes with deductibility Section 179, big equipment deductions, Section 199, standard deduction and itemized deductions, Schedule A 1040, medical deductions, acquisition indebtedness, mortgage interest, Schedule E for the 2018 new tax laws have taken place. This and much more is answered during this provocative webinar. As a business owner you want to be sure to know precisely all the tax write offs you can take especially when it comes to the new rule for meals and entertainment. Audience questions were answered during this 1:30:00 minute webinar. This tax update webinar for 2018 is current with our tax laws. You're getting the best tax information from one of the nations biggest tax and asset protection attorneys, Toby Mathis of Anderson Business Advisors. Toby explains a great many of the new tax laws in affect for small, medium and large businesses in 2018. This is just some of what's covered in this webinar: * Flat tax rate imposed on C corps - What does this mean to companies? How will it impact both the individual, the small business owner, and the investor? * Are you an individual using Schedule A? - BIG CHANGES... the tide has changed but we'll guide you to safety. * Changes in charitable deductions for 2018, an increase in Standard deductions. 📺WATCH FULL WEBINAR REPLAY! 👉 https://youtu.be/QNeAkTWdWNQ * 🚀Ready To Take Your Business To The Next Level While Protecting Your Assets From Frivolous Lawsuits? ~*~ 💰Get Your FREE 30 min Consultation & Wealth Planning Blueprint NOW! https://AndersonAdvisors.com/register-now-a Check out https://AndersonAdvisors.com for financial strategies and details on upcoming workshops. ** SUBSCRIBE** Anderson Business Advisors Youtube Channel https://www.youtube.com/c/AndersonBusinessAdvisors 800.706.4741 [email protected] https://AndersonAdvisors.com Twitter: @TaxWiseToby Blog: https://TobyMathis.com 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 Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
199A: 20% Off Small Business Taxes
 
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My Advanced Tax Tactics goes through how the Tax Cuts and Jobs Act affects small businesses in detail. Order at https://legalees.com/advancedtaxtactics/ and use promo code "YouTube" for 40% off.
Views: 1669 LegaLees
Running a Small Business and time to file your taxes? Find helpful accounting data in InventoryLab
 
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Did you run or launch an Amazon FBA business last year? When you're running a small business filing your taxes can be intimidating. Your Inventory Valuation and Profit & Loss reports in InventoryLab can help and with a few extra steps you can breathe a little easier knowing even the smallest details of your business are accounted for. This video tutorial was created thanks to a great suggestion from one of our YouTube channel subscribers! Is there a video walk through you'd like to see? Interested in a post-Amazon-Seller-Conference fireside chat? Would you like to meet members of the IL team or learn what it's like to work remotely 100% of the time? Let us know what topics you'd like to see covered and we'll see what we can do. Check out our blog to learn more about InventoryLab and go behind-the-scenes with members of the IL team! http://blog.inventorylab.com/
Views: 69 InventoryLab
LLC vs. S Corporation: What's the Difference for Small Business Owners?
 
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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: 4391 Gusto