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Where exactly do these rules apply? I'm located In Canada! Would this perhaps be only applicable in the US?

A year late but are you taking new clients and if so are you licensed in SC?

Solid info thank you

Interesting

Excellent info guy 😂

My thought is if I hit Powerball, I would likely go with the lump sum. Reason being I'm not young any more. But what I really would like to know if you form an LLC if that would insure yourself remaining anonymous so the world does not know who won.

Please make video for business travel

🏆🏆

One point to correct : You can take a loan from your SEP if you pay it back into the same or other qualifying retirement account within 60 days. This is called a rollover. You are allowed one per year / 12 months. This is called “Ira one roll over per year rule” - googling that term will take you to the relevant IRS page about IRA rollovers

Yes more real estate videos!!

Thank you 😊

I need a great cpa, how can i get in contact with yall? I was connected to. Tax hive before

Would I need an LLC or Corp for these write offs?

In the process of becoming a property investor with LLC

Thank you so much! You explained everything I needed to learn and you talked at a speed that I kept up with. You are amazing!

If I am the only employee, do I need an operating agreement?

Interesting........ So this is why our modern world is completely dysfunctional. nice presentation though.

Take a shot every time he says “Transaction” ☠️

This was a great video for a small business owner who is trying to get a handle on the business books! It actually reaffirmed that we are doing some of the process right and helped to determine what we need to improve. Thank you for sharing your knowledge!

Amazing information still till this very day!!

love how the like button lit up when he said that😂

So make a minimum payment on or before due date and make a payment before close or statement date

Do you have a video on how to invest your personal money into your business the correct way. If there is a correct way.

But I how do you track or put it in paper that your using your personal vehicle for business

Thought you were gonna tell us how.

So if I use an llc and choose to be taxed as an s-corp I still have to pay myself a reasonable salary correct?

Great video!

So, I am working with a travel agent hosting agency who recommends the same things that you've overviewed here. The only thing now, is that I am very intimidated by going sole proprietorship - in the event that a client goes on a travel, and then tries to sue or stop payment. Right now though, I cannot afford the fees associated with my state to file for an LLC. So I am really at an "intimidation stop" right now, not knowing what route to choose. My business is not open yet, and another aspect that is holding me up, is not knowing if I "have" to go LLC route, if I am the sole proprietor but my business name is not my own name.

What about meals I have because I work from home and need to do some work at a coffee shop for example (by myself, doing work for clients online but without the client present)

High yield saving accounts are at 4-5% rn

My brain hurts!!! But this is awesome

once you learn how to precisely triangle all deficit variables to stimulate influx AND tangible data while streamlining capital, you're in the game. until then you're playing with dave and busters coins.

So if you have negative profit, does the IRS owe me money? This is clearly a joke.

Thank you so much you make it clear and easier to follow ! Bless loads

How do I qualify as a real estate professional video

I appreciate you creating a simplified explanation of bookkeeping- New business owner here. .Want to imply business structure 🫶🏽🫶🏽🫶🏽

Great

thank you so much I'm happy to know more about other accounting software

I appreciate this video

have a question : Income & expenses as sole proprietor : Annual Earnings:I would also like to inform you that my earning being sole proprietor of XYZ for the year ended 30th june 2023 were 200k. i paid Tax on 200k. Monthly Owner draw:I have set my monthly owner draw at 3k from my business account to my personal account, However, this figure actually represents my monthly owner draw and not my salary. and the remaining i kept as retained earnings within the business account and can freely be withdrawn if needed. Monthly Expenses:My average monthly expenses range from 800 to 1500 which are typically covered by these monthly withdrawals. The remaining amount from my withdrawals is either saved. It is a good Explanation for the visa officer about my finances? OR something wrong ?

Definitely a well deserved thumb's up. Excellent teacher explained everything in a way that made it so easy to understand.

By the grace of God I completed order on Fiverr

Very informative.

Amazing video!

2 minutes in and exactly what I was looking for! Thank you!

Just subbed, I’m so excited I just found your channel! It’s exactly what I need ❤

❤❤❤❤ thank you ❤❤❤❤

Thanks man great video! Lots of helpful information in there.

I’m really interested in this, willing and excited to learn!! How could I get more experience ?? I don’t feel like anyone would hire someone entry level for this 😩

Just take the lump sum we never know when the economy is gonna collapse or a war is going to be funded thru the tax payers money. Cash me Out 🙏✝️✨