How To Pay Yourself In An LLC With Karlton Dennis

Thank you so much for having me on Mark! Looking forward to more collaborations and helping taxpayers save money!

So 40-50k you should switch to s corp. and that’s net so I my vehicle mileage write off puts me below that. So I should wait ?

I’m thinking of start my LLC this year(2024) and this is soo help full!! Thank you guys!!

Revocation of election.

Yes😊

Brilliant insights 👌🏾

If you don't reside in Delaware but have an LLC formed there, do you have to pay taxes in both Delaware and the state you reside in?

Sweet analogies throughout the whole hour. Enjoyed the tag team very much.

I know this was created in June, I'm watching this in January 2024, How are you all handling the new BOI requirements as it pretains to imminentity in LLC or holding companies that are formed in places like Wyoming and Delaware

Thanks Mark and @karltondennis, This was so needed! I have a few questions ....1.) How can we access the minutes package? 2.) How much does it cost to join your firm Mark? 3.) I wanna start my llc but I'm having trouble finding a reliable Registered Agent Service. The Big Firms are so big that their customer service, mail processing etc reviews are horrible. What service would you recommend? Thank you so much in advance for your help and assistance. I Love This Tag Team!

May I know what States only do the Statement of information? Thanks.
Great video by the way.

Yes we want more thank you

Statement of Information in California is super easy to complete online. It costs $25. Do it yourself annually.

What do you mean check stubs doesn’t exist in a LLC

Love it love to see more

I all most got hit with scams like that called my tax guy he sed do not pay that

I might hit 200,000 a year im hoping to save and have 120,000 after taxes and deductions

I just started llc im and hd semi mechanic i have no idea what im doing im winging it right now my tax man is going to helping me but im looking for more info

Is there a business high yield.savomgs ?

I'm a new LLC trying to open up a wing business what advice would you give me moving forward thank you

Everytime i hear S corp i hear escooorttt lol thw government will pay youm 🎉🎉😂😂😅

If you can, Will you please also clarify: Can you have a fictitious business name withiut an offical llc? What i understood was a DBA is the same as a fictious business name. Are they the same or seprate entities.

Just want to say you guys are super awesome and you guys have good vibes. This is my first time watching a video about this I'm getting ready to register my LLC this year and I have a friend who's also wanting to do the same thing, and you guys have really positive advice. And this is great first emfo and I like your voices I try to watch several videos and their voices were so annoying. I couldn't even and you also seem like you're very educated and knowledgeable. So if thank you, and it's lining up from what I've read online myself so far through several legal websites and also the Florida trademark registration, whatever it's called website.

Are you saying you can backtrack the crystal ball that first year? You are in LLC or just in general. You can go back one year, that same current year

what a great collaboration! wisdom and experience from Mark & new insights & flare from Karlton -- i agree, mindset is key!

Yes I would love to hear more of yours I just bumped into it today I am working on getting my small business lawn mower repair up, would love to comment more on it once it's up and running and get your feedback

Great info, you guys are a great tag team. I'm a first year LLC businesses owner and needing to hear this. Thank you

I absolutely love this. I learned so much.

Your explanation of this subject is super easy to understand. Thank you fellas🤙😎

can you make a video talking about using your business to pay for your mortgage...basically what should be paid by your w-2 salary vs paid by your business LLC or Scorp

every other week at least, guys! fantastic pair!

Loving Carlton! He’s amazing and very inspiring.

Thanks to both!!

Happy 2024!🎉🎉🎉🎉

I have an LLC and 2022 I didnt pay myself I took draws as I needed them, pay little taxes. I then tried to get a line of credit and guess what? No income, no loan. Fuck. Now am paying myself with w2...any comments?

Please do more of these random videos!

I need you in my life guys

Thank you for this information. I have been requesting this information for one year going into my second year--without answers. Thank you Karlton and Mark -- I feel Empowered! Thanks.

I am a New York Tax Advisor and I seldom advise clients to open LLC. In LLC they have a publication requirements for LLC's which makes it more expensive than making a corporation. LLC's may make sense in very specific situations not applicable to regular folks.

Love the tag team! Thank you for clarity and consistency

Turn that music off much earlier. Helps with followers. Definitely takes away

This is fire. Life altering for us who are pursuing freedom.

Thank you, very informative

Loving this! Have a consultation next week with Karltons team and I can’t wait.

Thanx guys

Why should I start an LLC if I’m driving for Uber? How will that benefit me?

Both my fav together

Hi love the info you guys are great together.
Couple things I have a LLC that I don’t use just trying things umm didn’t work out but now I’m about to start driving trucks and soon owner op so I’m checking to see if I should go ahead and start a new one and have the company pay the Llc to game some traction in the account please lmk.

This was a very enlightening interview. I’m really happy you guys could get together. You should do this more often. Thank you.

I’m a w-2 wage earner and ran everything out of one bank account until I learned to do business differently. I didn’t learn this in college. It should have been introduced in high school. Now I can share with others as far as what info to look in to. I don’t want other business owners to be ill-informed as I was.

To last question:

3 sub LLCs that funnel in to s-corp essentially looked at as "employees"
Vs
1 LLC outside(kids management) is looked at as "contractor" expense and avoids FICA etc?

We need more of this dynamic duo! Amazing information individually, but together, fuggedaboudit. | I'd love to see a collaboration around the C-corps ins and outs.