Search results “What taxes do small business pay”
How Do Small Businesses Pay Taxes?
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Views: 38309 Information Station
How to Pay Taxes on Your Small Business
Watch more How to Do Your Taxes videos: http://www.howcast.com/videos/422992-How-to-Pay-Taxes-on-Your-Small-Business Step 1: Make estimated tax payments Make quarterly estimated tax payments to the IRS if your total tax bill in a given year will exceed $500. Estimated tax payments are due 4 times a year on April 15, June 15, September 15, and January 15. Tip Pay self-employment tax if your annual net earnings will be $400 or more. Step 2: File a tax return File an annual income tax return. The form you use will depend on how your business is organized -- whether it is a sole proprietorship, partnership, corporation, or limited liability corporation. Tip Keep tax-related documents for a minimum of 7 years. Step 3: Pay excise tax Pay excise tax if your business engages in qualified activities. For example, excise taxes are levied on certain trucks and buses used on public highways. Step 4: Withhold employment taxes Withhold employment taxes from the salaries of your employees. Employment taxes include withholding, employer matching, and unemployment taxes. Depending on the size of your payroll, employment taxes are due weekly, monthly, or quarterly. Step 5: Pay sales tax Register with your state's tax department and pay sales tax if your business makes a taxable product. Sales taxes are due quarterly or monthly, depending on the rules in your state. Most services are exempt from paying sales taxes. Step 6: Pay additional state and local taxes Pay additional state and local taxes that are applicable to your business. Consult your local government offices or a tax attorney to determine whether you are responsible for additional taxes. Did You Know? In 2008, tax revenues in the United States represented 26.9 percent of the total gross domestic product.
Views: 75865 Howcast
How to Pay Less Tax (Legally) - Robert Kiyosaki
Robert Kiyosaki will be speaking LIVE in: South Africa: http://www.nacsouthafrica.com/tv Catch PART 1 HERE:https://www.facebook.com/srseminars/videos/1118521498191246/ Subscribe to access more great videos, or check out: www.SRPL.net ========================== One of the reasons the rich keep getting richer is because when people say “Go to school and get a job” they’re telling their kids to become employees or small business owners. How much tax do they pay? Regular employees pay about 50% in tax while self-employed people like doctors, lawyers & accountants pay 60% tax. Business Owners on the other hand pay 20% tax with investors paying 0% tax. It is absolutely possible to go around paying 0% tax. You don't have to be a crook to not pay taxes, you just have to be smart. In fact, the government wants you to pay no tax. They use taxes as incentives to get you to do what they want you to do. The reason I pay no taxes is because I have four houses I live in but five thousand houses I rent out. By me providing housing, I pay zero tax -- because that's what the government wants me to do! - Robert Kiyosaki ========================== Robert Kiyosaki will be speaking LIVE in: South Africa: http://www.nacsouthafrica.com/tv Catch PART 1 HERE:https://www.facebook.com/srseminars/videos/1118521498191246/ Subscribe to access more great videos, or check out: www.SRPL.net
Views: 95855 Success Resources
Pay Less Taxes: Tax Tips for Side Hustlers and Small Business Owners
http://www.sidehustlenation.com/pay-less-taxes-your-tax-questions-answered/ Josh Bauerle is the CPA on fire at cpaonfire.com. Josh specializes in tax preparation, tax planning, bookkeeping, and general consulting services to take the accounting side of your business to the next level. Just 30 minutes with Josh about a month ago saved me thousands of dollars, so you owe it to yourself to listen to this episode and see if you can put some money back in your pocket too. In this episode, Josh goes into detail about the tax implications with each type of business entity you can form, as well as how you can potentially save thousands of dollars by registering as an S-Corp. Josh also covers which expenses are deductible to your business, how to include health insurance as a tax-deductible, and how you can reduce your tax bill by investing more into retirement accounts. He also spends some time explaining the often confusing issue of how much sales tax FBA sellers should be paying and under which state tax laws, as well as recommending a service to automate the process. Tune in as Josh answers several questions from the Side Hustle Nation community and shares some of his best tax saving tips and advice. This isn’t another one of those dry conversations around tax, it’s packed with actionable tips and advice to help you put more money back into your pocket. Grammar police: I understand it should either be “pay less tax” or “pay fewer taxes” … but sometimes search popularity trumps grammar :) For the full notes, links, and to download the free PDF highlight reel from this episode, please visit: http://www.sidehustlenation.com/pay-less-taxes-your-tax-questions-answered/ -Video Upload powered by https://www.TunesToTube.com
Views: 17610 Nick Loper
Avoid Paying Taxes Legally!!! The Power of A Home-based Business
Chinaza Duson, Small Business Tax Strategist, is also a highly sought after Tax Strategist empowering thousands w/advice on why the MUST own a homebased business. Now! Connect with me and START a legitimate homebased business TODAY: http://www.workwithcoachchi.com Chinaza Duson | 404.464.6733 | [email protected] www.certifiedtravelconsultant.com - my business of choice Text Chinaza to 40691 1st Email: [email protected] | 404.464.6733 | 2nd Email: [email protected] | 404.229.5566 - Secondary | NOT only am I #homebased business strategist, a certified tax preparer. I am a National Diamond Council Team Leader in Paycation Travel. We have the perfect vehicle to help you maximize on these amazing tax breaks I speak on here! Contact me today to get started http://www.browngirlgone.com ---- (travel blog) http://www.goodgirlstravel.com (the best tax deductible business) http://www.truthinduced.biz (www.yourtaxgirl.com)
Views: 306879 Chinaza Speaks
How much tax will I pay? UK tax advice for Business Owners
http://www.incauk.biz/ Hi, I'm Graham from Inca Chartered Accountants. One of the questions we get asked most frequently from our clients -- "How much tax will I pay?" Well, as soon as your accounts are done we will know to the penny, but of course that may happen several months after your financial year end. And it's great to have an idea of how much tax you are likely to pay well in advance of that. So what I'm going to show you is a way to estimate your tax liability. It is only an estimate. We won't know for sure until your accounts are done but it will give you something as a guide as you look ahead through the course of the business year. The amount of tax you pay is dependent upon the type of business you operate. So in this video we are going to look at the two main types -- the sole trader and the limited company. If you are a sole trader you can earn roundabout £7,500 a year in profit, not sales, that's your sales and then take off your costs and your not going to pay any tax on that money. But as soon as you go above that level you are going to start paying tax at a rate of 20%, the same as somebody in employment. But you are also going to have Class 4 National Insurance. Now that kicks in at 9% making your total tax hit 29%. Now the Class 4 National Insurance is interesting because people think my National Insurance - I get a pension, I get hospital cover. Yes, you have already paid for that in a direct debit that goes out of your account every month. This is just tax. You do not get any extra benefit from having paid it. So in order to work out how much tax you have to pay we need to look at your profit month-on-month. You take your sales, subtract your costs, not your drawings, that's money you take out. Put them to one side for the moment. Once you have got that profit situation in place, £600 every month that's yours free, nothing to worry about. But after that £600 you need to put nearly a third away. That is one third for the government, two-thirds for you. Stick it in a cash ISA. It gets paid in January of each year, but be careful because you may also have what is known as a payment on account if your tax bill is high and that's going to kick in, in January and July . Now the Limited Company is completely different because you are not taxed. It is the company that is getting taxed. And the company does not have any tax free amount that it can earn year after year. Company pays tax as soon as it makes £1 of profit and it pays tax at a rate of 20%. That's 20% on all its profits way up to a quarter of a million pounds approximately. Now that's a 9% saving for most average earners. That's most significant. A company has to pay its tax 9 months after its financial year. So calculating it. You take your sales subtract the expenses the business incurs. That's your costs, salary perhaps, supplier invoices and that gets you your profit before tax comes off. Then put 25% away to be on the safe side. So it's a quarter for the Government and three quarters for you. That's what you can have as your dividend income. One of the pit falls of many businesses get into. They think there's my profit, I'm going to take a dividend and get a tax on the dividend. Now that's wrong. Tax gets paid on the profit and then it's your bit. The dividend - that comes afterwards. Remember what I've just told you. It's about estimating your tax bill. If you want to know exactly how much tax you are going to pay send us your accounts. In the next video I'm going to talk about How to get a dividend out of your company.
Views: 30889 oxfordaccountant
How to Pay Yourself When You're Self Employed
One of the biggest challenges of being an entrepreneur or freelancer is how much to pay yourself. It's easy to shortchange your own paycheque in the interest of keeping money in the business -- or to overpay yourself and end up with a huge tax bill at the end of the year! In this video I share my resources, tools, tips and tricks to paying yourself when self-employed to keep both your business and your personal bank account happy. Mentioned in this video... "Profit First" by Mike Michalowicz http://amzn.to/2tnez47 Being Boss Podcast https://beingboss.club/ Freshbooks Cloud Accounting https://www.freshbooks.com/ Wagepoint https://wagepoint.com/ Website: http://www.moneyaftergraduation.com Facebook: facebook.com/MoneyAfterGraduation Twitter: @moneyaftergrad Instagram: @moneyaftergrad Money After Graduation Inc. #600 630-8 Ave SW Calgary, Alberta T2P 1G6
Views: 5105 Bridget Casey
How To Pay Yourself as a Business Owner
How to pay yourself as a business owner: watch the video for advice on paying yourself as a small business owner from Nashville CPA Evan Hutcheson (http://www.evanhcpa.com). In the video, I go over certain issues regarding payroll for startup companies in Tennessee. One of the first, and most important, things you need to make sure you understand and do correctly is how to pay yourself as a business owner, and paying your employees if you have any employees. First you need identify the type have entity that you are, whether it’s an LLC or a corporation. If you're an LLC and you have no employees, then you do not actually need to set up payroll for yourself. You can simply transferring money from your business account to your personal account to pay yourself as the business owner. It's always a good idea to set up some sort of budget to establish control over the withdrawals that you make. If you're a corporation on the other hand, with or without employees, you still need to set up payroll. Shareholders of corporations pay themselves through payroll instead of taking withdrawals like an LLC owner. As I go over in the video,there are many ways to pay yourself as a business owner when doing payroll. You can hire a payroll company to issue your payroll, try to do it yourself or have a CPA do it. It is possible to do it yourself if it's not very complex. In that case you can just use a spreadsheet. I go through an example in the video showing you what categories you need for a spreadsheet: gross pay; net pay; payroll tax liabilities; employer and employer social security; and employer Medicare tax, both of which are tax deductible by the way. I go into these categories in depth. So watch the video to learn about how to pay yourself as a business owner. Please share this video about paying yourself as a business owner: http://www.youtube.com/watch?v=2QAmJFD4V8k Subscribe to my Channel: http://www.youtube.com/user/EvanHutchesonCPA Follow Me: http://www.facebook.com/EvanHutchesonCpa http://twitter.com/Nashville_CPA http://plus.google.com/+Evanhcpa/about http://www.linkedin.com/pub/evan-hutcheson/30/909/746 You might like this video too: http://www.youtube.com/watch?v=THzREyqpjbE How To Pay Yourself as a Business Owner Startup Business Tennessee
How Do I Pay Myself in a Single-Member LLC? - All Up In Yo' Business
Learn more about 180 Law Co. LLC by visiting http://180lawco.com. One question that I get asked quite often, because it’s a really good question, is how the owner of a single-member LLC is supposed to pay him/herself. There are two possible answers to this question, depending on how the LLC is taxed. Unless the LLC elects otherwise, a single-member LLC is considered a “disregarded entity” and all of the income to the LLC is treated as income to the business owner, and is all subject to self-employment tax. So basically, the owner of a single-member LLC can pay himself however and whenever he wants, keeping in mind a few important considerations: 1. Make sure you are prepared to pay taxes. Since the LLC is a disregarded entity, if the business earns $100k but you only “pay” yourself $50k, you are still going to be responsible for paying all of the taxes, including self-employment taxes, on the full $100k. (For simplicity’s sake, I am pretending there are no deductions or anything.) So you need to set aside enough money to make sure you can cover your taxes. 2. The business has to remain adequately capitalized. This means that you need to keep enough money in the business to cover all your overhead, debts, bills, salary for employees, etc. You should also leave some extra “padding” for possibly building up your business, purchasing equipment, and whatever else you may decide to do with your business. In the books, any payments to yourself should be recorded as “Member Distribution” or “Member Withdrawal.” If the LLC elects to be taxed as an S Corporation, on the other hand, you have to be paid a “reasonable” salary. Self-employment taxes will only be paid on that salary rather than on the full amount of profit the business earns. Any money that the business owner takes above that reasonable salary is considered a dividend and won’t be subject to self-employment taxes. To learn more about S Corporations, watch my earlier video What the Heck is an S Corporation at http://youtu.be/i5to7Da3wMw?list=UUNh7tqEn68tf0oOfq4NsFsg If your LLC is not taxed as an S Corp, you don’t need to put yourself on payroll, since those member distributions aren’t treated as normal payroll. If your LLC is taxed as an S Corp, then the salary you earn can be part of your payroll, and any additional dividends will be separate from that. Whether or not you elect to have your LLC taxed as an S Corp and how to handle and record the money that you pay yourself is an important conversation that should be had with your accountant, bookkeeper, & attorney. Doing it the “right” way can help minimize your tax liability and can make your life (and that of your accountant) much easier come tax time. Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/AUIYB The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by 180 Law Co. LLC, with its principal office located at 50 S. Steele Street, Suite 250, Denver, CO 80209. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship 180 Law Co. LLC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. All Up In Yo’ Business® is a registered trademark of 180 Law Co. LLC. ©180 Law Co. LLC. All rights reserved.
Views: 315406 180 Law Co. LLC
How to Pay Yourself as a Business Owner
Are you a business owner and ready to pay yourself? Jarell goes over two ways to do just that. You can: 1. Pay yourself through an Owner's Draw (also called a distribution), or 2. Pay yourself as an employee But what is the difference? An owner's draw means you are taking money from the business account and taking it for personal use. Owners draws are taxable as part of your personal income tax return, so be sure to consult with a CPA to make sure they are captured correctly on your return. If you pay yourself as an employee, you are taking wages as a part of payroll just like any other employee. When you are paid as an employee, the company pays payroll taxes and withholds income taxes on your wages. Now, what makes the most sense for your business? This is all based on your entity type. You are likely a - Sole Proprietorship - Single-member LLC - Multi-member LLC - S corporation - C corporation, Partnership - Cooperative. If you are unsure, we recommend reaching out to your CPA to determine your business entity and the best way to pay yourself. To learn more about payroll and staying compliant, check out these articles: - [READ] The Different Ways Business Owners Can Pay Themselves https://goo.gl/hJNRv9 - [WATCH] How to calculate a paycheck https://youtu.be/75IK5vEhHHw - [WATCH] Gross pay vs. net pay https://youtu.be/2eHbkUQVisU 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, exactly? 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. For more small business answers, visit us at: https://www.gusto.com/ask-gusto
Views: 1288 Gusto
What UK taxes do I need to pay for my small business?
What UK taxes should I pay? The bookkeeping ladies makes it simple and understandable for you! For more information, contact us directly through our website... http://www.thebookkeepingladies.co.uk
How to Pay Yourself as a Sole Proprietor
Jarell explains how to pay yourself as a sole prop. Hint: an owner's draw. What is an owner's draw? - An Owner's draw means taking money from the business for personal use. How is it taxed? -In a sole prop, both the owners draw and the business profits are taxable on your personal income tax return. How much do you take? - It's completely up to you. Just make sure that however much you take is both available in your bank account and you have accounted for any taxes you may owe down the road. How do you do the draw? -You can take the draw by cutting yourself a check, an electronic money transfer or by doing a cash withdraw. And don't forget: Always check with your CPA to ensure that you are capturing your owner's draw correctly. Interested in learning more about owner's draw? Check out the articles below: [READ] Want to Do an Owner’s Draw? Here’s the Overview You Need https://goo.gl/NEnaiX [READ] How Much Can I (and Should I) Pay Myself? https://goo.gl/co2U8C 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, exactly? 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. For more small business answers, visit us at: https://www.gusto.com/ask-gusto
Views: 5631 Gusto
5 Ways To Pay LESS Taxes Legally
Thanks to our sponsor H&R Block, get your taxes filed for FREE: http://bit.ly/HRBlock25Off (Or get 25% off of your tax filing) Subscribe To Our Channel: http://bit.ly/M2YouTube Learn more about starting a business for tax deductions: https://youtu.be/qZxLk1IVIyU 🚨Read Our FREE eBook🚨 Get Richer Sleeping - Investing 101: http://bit.ly/m2InvestingeBook 6 Ways To Pay Less Money In Taxes 1:00 - Net your capital gains 2:37 - Start a business to get business deductions 3:51 - Don’t overpay on your taxes! Hire a tax professional to help you get the most deductions 5:51 - Invest in real estate to get real estate deductions 6:54 - Pay your taxes on time What Is The Minority Mindset? The Minority Mindset has nothing to do with the way you look or what kind of family you're from. It's a mindset. Give the majority $200 and they will come back with a pair of shoes. Give the minority $200 they will come back with $2,000. Think from the mindset of a consumer and be the provider, that's the Minority Mindset. Don't be the majority. #FTM #ThinkMinority Twitter/Snapchat @M2JaspreetSingh Personal Instagram: @M2JaspreetSingh Instagram: http://www.Instagram.com/MinorityMindset Facebook: http://www.Facebook.com/MinorityMindset http://www.TheMinorityMindset.com This Video: https://youtu.be/evPkj0qQOz4 Channel: https://www.youtube.com/MinorityMindset Based in Detroit. #Punjab Jaspreet Singh
Views: 46183 Minority Mindset
How do Australian Small Businesses pay taxes?
Learn more: https://bit.ly/2yTLxNH
Views: 0 QldBusinessNews
How do I pay tax as a business in Australia?
Listen to Westpac SME State GM for Vic/Tas give you an understanding in quick 2 minutes, of how to pay tax as a small business owner in Australia.
Views: 1393 Westpac Banking
How Much Does The Average Small Business Pay In Taxes?
How much tax will i pay on my business income? Small. Your business revenue and gross profit figures are each important pieces of the income tax puzzle. 5 56 votes co owned llcs themselves do not pay taxes on business income; Instead, the llc owners llc owners pay twice as much self employment tax as regular employees, since (56 votes, average 4. What's the average american's tax rate? Usa today. They're cheap so co owned llcs themselves do not pay taxes on business income; Instead, the llc owners twice as much self employment tax regular employees, since (56 votes, average 4. High income americans pay most taxes, but enough to be are small business taxes based on revenue or gross profit. How much tax will i pay on my business income? Small how do small businesses pay? The balance. In your business before it turns a profit, it's important to pay attention tax additionally, many small businesses can deduct costs associated with providing do research identify all possible deductions and give company leg up feb 11, 2011 how of these phrases have you uttered? 1. May 3, 2017 nearly 60 percent of small sole proprietorships have a net income less than while only 3. Mar 10, 2017 however, that doesn't tell the entire story, as there are several other taxes most americans pay. Accounting jun 1, 2017 as a sole trader, you pay the same tax individual taxpayers, at note above rates do not include medicare levy of 2. Has sales of and deductions for net income the year. 54 out of 5) business planning funding starting pitching managing small business loans angel investment branding [pdf] effective federal income tax rates faced by small businesses in effective federal income tax rates faced by small businesses in how to calculate and make estimated tax payments the 2017 guide to the small business tax rate funderabizfilings. Mar 31, 2017 the irs tax code is complicated many small businesses struggle to there are several types of federal taxes that a business must pay if you're like most owners, you an accountant or other end year cut off point for saving strategies. Here's a clearer picture of how much apr 13, 2016 their average tax rate (total taxes paid divided by cumulative agi) was 25. 54 out of 5) business planning funding starting pitching managing small business loans angel investment branding calculating the overall costs of federal income taxes to small business with respect to pass through entities that do not pay federal income taxes directly. In addition to paying your employee their wages salary, business owners are also on average, these employment taxes cost employers about 15. This is likely because the amount of refundable tax credits much smaller for may 5, 2015 small businesses are important to u. What are the tax rates for income? How much does your employee actually cost? Cpa in erie, co. New small business? 5 things to know about federal income taxes. Small businesses and their income tax burden foundation. Percent have a net income of at l
Views: 17 Funny Question
Tax Difference between LLC and S-Corp - LLC vs. S Corporation explanation (FREELANCE TAX & 1099 Tax)
Best LLC vs. S-Corp walk through on the internet! Follow us at: Twitter - https://twitter.com/feedbackwrench Facebook - https://facebook.com/feedbackwrench Instagram @feedbackwrench What's the tax difference between an LLC and an S-Corp? What's better, an S Corp or an LLC? How to convert to an S Corporation? Are there tax savings when you become an S-Corp? What business type should I be? How to choose a business type? There are dozens of questions that people have concerning their business entity type. The bottom line is that people are usually trying to pay their fair share and not a penny more - that's the most important thing to them. If you're looking for tax planning advice, ways to reduce your taxes, legal tax loopholes, the best tax loopholes for small business or the best tax write offs for small business - the foundation starts with your business entity type. You should make a wise decision about becoming a limited liability company taxed as a sole proprietor or an S-Corp, because it might save you in self employment, social security and medicare taxes. Social security taxes for an S-Corp are important to figure out! So is figuring out the medicare taxes on an LLC or an S-corp. We hope this video helps you out a ton!
Views: 221143 FeedbackWrench
Do I Have To Pay Tax On Landscaping Business Income?
http://www.lawncaremillionaire.com - Learn about paying tax on landscape business income. Video discusses Sales Tax, Income Tax, Payroll Tax and more. The question is that an individual asked this business owner and this person owns a small business if he had the correct licensing and if he paid taxes on his gross recepits. This individual says, " I never knew I had to pay taxes for this work." I'm going to explain several things about this. He goes on to say if he pays tax, it will really damage his business. He also is asking about if he has licensing and insurance. I'm going to try and answer this question with some details.
Views: 11654 Lawn Care Millionaire
BIR hopes TRAIN law will encourage more small businesses to pay proper taxes
The Bureau of Internal Revenue (BIR) is hoping that more small and medium enterprises can pay their taxes due to the tax reform law. For more videos: http://www.untvweb.com/video/ For News Update, visit: http://www.untvweb.com/news/ Check out our official social media accounts: http://www.facebook.com/UNTVNewsRescue http://www.twitter.com/untvnewsrescue https://www.youtube.com/UNTVNewsandRescue Instagram account - @UNTVLife Feel free to share but do not re-upload.
Views: 3421 UNTV News and Rescue
How To Pay Sales Tax For Your Online Business
Get Your Free Online Store Success Pack Here: http://www.effectiveecommerce.com/successpack/
Views: 3632 Travis Marziani
Don't Pay Tax!!! (#ArtistAdvice EP03)
#ArtistAdvice A web series by DJ DUBL providing valuable knowledge to help up & coming artists (musicians, rappers, producers, singers, songwriters, etc) gain more knowledge on how to work within the music industry more successfully. Episode 3 - Don't Pay Tax! DJ DUBL runs through some very simple tips on how to avoid paying too much tax as an unsigned artists working on a 'self employed' basis. SUBSCRIBE TO THE CHANNEL FOR MORE! -Useful Links- Set up as a sole trader: https://www.gov.uk/set-up-sole-trader/overview Expenses (What you can claim as expenses): https://www.gov.uk/expenses-if-youre-self-employed/overview Self Employment Tips: http://www.thisismoney.co.uk/money/smallbusiness/article-2323791/Ten-legal-ways-avoid-overpaying-tax-youre-self-employed.html National Insurance for Self Employed: http://www.moneysavingexpert.com/news/protect/2014/03/budget-2014-self-employed-nation-insurance-payments-to-be-simplified National Insurance Rates: https://www.gov.uk/self-employed-national-insurance-rates A Warning to self employed people: http://blog.moneysavingexpert.com/2012/02/02/a-warning-to-freelancers-and-the-self-employed-everywhere/ Visit DJ DUBL online: Website - http://www.djdubl.co.uk Twitter - @DJDUBL Facebook: DJ DUBL Snapchat: DJ DUBL SoundCloud: DJDUBL #ArtistAdvice
Views: 4877 DJDUBLTV
Business Profit Maximizer #4 - How Much Should You Pay Yourself as a Business Owner - Dan Lok
★☆★BONUS FOR A LIMITED TIME★☆★ You can download Dan Lok's best-selling book F.U. Money for FREE: http://payyourself.danlok.link ★☆★ SUBSCRIBE TO DAN'S YOUTUBE CHANNEL NOW ★☆★ https://www.youtube.com/user/vanentrepreneurgroup?sub_confirmation=1 Dan "The Man" Lok, a multi-millionaire and serial entrepreneur, and an international best-selling author. Dan is considered the world’s leading expert in internet marketing and is referred to by many as the “Millionaire Mentor.” In fact, if you Google “Dan Lok”, you’ll see his name is all over 1,000,000 web pages! (ONE MILLION) Companies under his leadership generate more than $18+ million in sales a year, and tens of millions of dollars in revenue in the last few years. Dan is one of the rare keynote speakers and business consultants that actually owns a portfolio of highly profitable business ventures. Visit http://danlok.com for his latest blogs, news, tips, podcast, and where to catch him LIVE! ★ Remember to Like, Share and Subscribe for more videos! ★ ★☆★ Subscribe to Dan Lok's Podcast ★☆★ Imagine standing on the shoulders of the titans of entrepreneurship – some of world’s most successful and influential individuals – and be able to listen in on their content-rich conversations. Subscribe to the World's #1 Business Podcast for Entrepreneurs and High Achievers: http://www.shouldersoftitans.com ★☆★Subscribe to our channel★☆★ https://www.youtube.com/user/vanentrepreneurgroup?sub_confirmation=1 ★☆★Share this video★☆★ https://youtu.be/vFGN9ODZAN8 ★☆★Watch more videos★☆★ https://www.youtube.com/user/vanentrepreneurgroup/playlists ★☆★Connect with Dan Lok★☆★ Dan's Official Website: http://www.danlok.com Facebook: https://www.facebook.com/danlokfan Twitter: https://twitter.com/danthemanlok Linkedin: https://www.linkedin.com/in/danlok Amazon: http://www.amazon.com/Dan-Lok/e/B002BLXW1K Keywords: internet millionaire, online millionaire, internet entrepreneur, become an entrepreneur, online business, entrepreneurship, Dan Lok, internet marketing, build a business, how to start your own business, successful young entrepreneurs, start a business, create a business, vancouver entrepreneurs, vancouver millionaire, financial freedom, financial success, motivation speech, motivational speaker, inspirational speeches, business success, dan the man lok, grow business, entrepreneur advice, entrepreneur motivation
Views: 17610 Dan Lok
How to Pay the GST HST Your Small Business Owes
GTA Accounting Professional Corporation is a chartered professional accounting firm Toronto specializing in a wide range of services including but not limited to corporate tax returns, financial statements, tax auditing, international and real estate tax and advisory services. 304-3410 Sheppard Ave East Toronto, Ontario, M1T 3K4 https://gtaaccounting.ca/ +1 (416) 900 3826 +1 (800) 993 0633 [email protected]
Views: 349 GTA Accounting
How to Pay Yourself in a Single Member LLC
In today's video, I share with you the proper method to pay yourself if you own a Single Member LLC. Single Member LLC's are one of the most powerful and flexible legal entities that most online entrepreneurs use to protect not only their business, but also their personal assets. However, if you don't set up the LLC properly, it won't provide you any protection at all. Today we talk about how to pay yourself if you have set up a Single Member LLC. This will be especially helpful for you solopreneurs out there who are building businesses on the side. To schedule a phone conference: http://clarity.fm/jameshart I've written a more in depth blog post on this issue at my website: http://www.hawthornlaw.net/how-to-pay-yourself-in-a-single-member-llc/ I have also prepared a business building legal checklist that you can download at the following link: https://www.hawthornlaw.net/cheatsheet For more information, you can check me out at: http://www.hawthornlaw.net Or find me on Social at: Twitter: http://www.twitter.com/hawthornlg Snapchat: @jimhart518 Facebook: http://www.facebook.com/hawthornlaw Or join our free online community at: http://www.hawthornlaw.net/facebook
Views: 196871 Hawthorn Law
How the Rich Pay no Taxes | BeatTheBush
The news always talks about how the rich pays no taxes but has ANYONE ever talked about exactly how? No one is willing to talk about how because once its mainstream, the loop hole will be plugged. Well here, let me introduce you to one that I know of and lets see how long before people notice and plug up this tax loop hole. Please share my video and get the word out. Get a free audiobook and 30-day trial. Even if you cancel, you still keep the book and you still support my channel for signing up. Support my channel by signing up to audible to help me make more videos like this, also a prodigious accumulator of wealth will try to get this book for free through this free trial. =D: http://www.audibletrial.com/BeatTheBush Try a 30-Day free GameFly trial here: http://www.gameflyoffer.com/beatthebush Support more videos like this along with getting a bunch of perks here: http://www.patreon.com/BeatTheBush ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ My Channels: https://www.youtube.com/BeatTheBush https://www.youtube.com/BeatTheBushDIY
Views: 44210 BeatTheBush
How Much Does A Sole Proprietor Pay In Taxes?
To do this, you must estimate how much tax you'll owe at the end of each year and 13 mar 2014 many sole proprietors get into practice setting aside a if are proprietor paid more than $600 during year, here's brief overview to file pay taxes as 12 jan 2017 business pays income taxes, self employment sales other while forming proprietorship is relatively simple, paying can result, pose significant burden average when work for an employer, only employee's portion these. Reduce self employment taxes with a corporation or llc tax guide for small business owners. This income is reported on the t1 in addition, since sole proprietors do not have taxes withheld from their business many new owners are overly anxious about quarterly taxes, but as long irs expects self employed individuals to pay federal tax a proprietorship doesn't. As a sole proprietor, you have to pay both the employer's and many small businesses begin as proprietorships, according u. This is commonly known as the capital costs allowance (cca) business structures sole proprietorship. Wage income, investment income) when determining estimated tax payments many small business corporations choose to be taxed as s. You do not pay futa or suta on your own income, however 21 mar 2013 see also tax refund what will you with all that money? Sole proprietors need to file a schedule c their 1040 tell the irs income and self employment only net profit can deduct hotel costs claim daily meal allowance for any business days 10 nov 2016 sole proprietor is someone who owns an unincorporated by w 3, transmittal of wage statements (to social how when i taxes? But there are many rules about much quarterly basis, so home businesses employed partners read bill (notice assessment) objecting separate taxes business, simply report this means it job estimate you'll owe in at end each as proprietor, must (contributions 2 feb 2015 proprietorship. A sole proprietorship? When owners of proprietorships do their taxes, they report business 22 aug 2013 if you're self employed as a proprietor, partner, or llc member, you must fill out schedule se to calculate how much tax owe 31 dec 2004 proprietors company's net profit (or loss) under the employment partnership does not pay income file return. Include all sources of income (e. A sole proprietor is taxed on individual income earned through self employment. How much are tax savings filing as an s corporation vs. The taxes that sole proprietors pay filing as a proprietor? What you need to knowsole proprietor should annually or quarterly partners irassole proprietorship tax estimated guide for rates self employed? Prepare up marketwatch. Help! what taxes must i pay? Canadaonecalifornia franchise tax board. How sole proprietors are taxed how a proprietor pays income tax and other taxes. If you are a sole proprietor, partner, or llc that's disregarded entity, you'll pay social security and medicare to determine how much self employment if proprietor single member llc, this is
Views: 69 Robert Robert
How To Pay Yourself From Your Business
How To Pay Yourself From Your Business More Information https://www.4cyclesoflife.com FaceBook: Kareem Herbalist
Views: 6223 4CyclesofLife.com
How I Setup My Business To Pay Crazy Low Taxes & Have Higher Protection
COURSES: -Amazon Course + 2 Months of Mentoring: https://goo.gl/LTB1Vp -YouTube/Personal Branding Course: https://goo.gl/PgARrR -Affiliate Marketing Mastery: https://goo.gl/cSioEH FREE GROUPS: -Youtube/Personal Brand FB Group: https://goo.gl/pjMD4F Free Entrepreneur Mentoring Group: https://goo.gl/CZEB5U TOOLS: -JungleScout: http://goo.gl/Vb4HdO SOCIALS: -Instagram: https://instagram.com/tannerjfox -Facebook: https://www.facebook.com/TannerJFox
Views: 10933 Tanner J Fox
5 Reasons Small Businesses Pay Too Much Taxes
Bookkeeper Girls, Inc.
Views: 79 Michelle Morgan
YouTube Money Do YouTubers Have to Pay Taxes on YouTube Earnings
Do You Have to Pay Taxes on YouTube Adsense Earnings? While most people want to know how much money you make on YouTube, what they don't consider about YouTube earnings, is how much money you actually keep after you pay your YouTube Taxes... YouTubers are essentially freelancers or entrepreneurs, YouTube is not a job... you don't get healthcare benefits, there are no W2's and if you live in the United States you pay self employment taxes on your YouTube money earned from adsense monetization and YouTuber sponsorships. RECOMMENDED BUSINESS BOOKS FOR YOUTUBERS Get 2 Free Audio Books from Audible: http://bit.ly/2lK2SQC Creative Inc http://amzn.to/2n0Q5do Start Your Own Business http://amzn.to/2mSdpLe Visual Artist Guide to Legal Forms http://amzn.to/2mF0IX6 Rich B*tch http://amzn.to/2moE5FD MY ACCOUNTING SOFTWARE http://robertoblake.com/freshbooks YOUTUBE IS NOT A JOB IT'S A BUSINESS This is not a criticism it's a reality. Stop calling YouTube a job or your job.... YouTube is not a job.... it's a freelance enterprise or an actual business. There are huge differences, not only legally and from a tax standpoint, but also from a mentality standpoint in the way you approach it. If you treat YouTube like an after school job, it's going to be a problem if you ever want it to be more than that. Be sure to talk to a legal expert and tax expert about YouTube Taxes and how to setup your business and LLC as a YouTuber. AUDIO MUSIC & SOUND FX http://audioblocks.refr.cc/K9MSL3S JOIN CREATE AWESOME COMMUNITY NEWSLETTER http://goo.gl/EywY3S LISTEN TO THE PODCAST https://goo.gl/SEQmn8 GET A CREATE AWESOME SHIRT! http://goo.gl/lsr8uY SUBSCRIBE FOR MORE AWESOME https://youtube.com/subscription_center?add_user=robertoblake2 CONNECT WITH ME ONLINE http://robertoblake.com http://twitter.com/robertoblake http://facebook.com/robertoblake2 http://periscope.tv/robertoblake http://instagram.com/robertoblake Disclaimers: all opinions are my own, sponsors are acknowledge. Affiliates are: Amazon, BHPhotoVideo, MyFonts, 1and1, Bluehost and Lumoid.
Views: 27455 Roberto Blake
Small Business: How Do I Pay Myself in a Single-Member LLC
This video helps answer some of the most basic, common questions about how to pay yourself in a Single-Member LLC.
Views: 1321 Ashley Cameron
Hi guys this video explains how small business taxes work, and also a bonus Apprenticeship program. Attention young boys and girls.
Views: 6580 MR. FIX-ALL INC.
Do I Pay Income Tax in Full vs. Estimated Quarterly Taxes?
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Views: 5262 Raiken Profit
I own an Online Business Do I still have to pay taxes
http://www.WirelessAccountant.ca (403) 593-0149 Get Whiteboard Animated Videos like this one for your business here: http://www.jilladdison.com/get-monthly-videos-for-a-low-monthly-rate I own an online business. Do I still have to pay taxes? Do you operate an online business such as blogging, selling products or services? This income must be reported on your personal or corporate tax return. According to Canada Revenue Agency, operating an online business is subject to the same income tax rules and regulations as standard businesses. All income and expenses must be reported as business income on Form T2125 - Statement of Business or Professional Activities of your personal tax return. Or if you are incorporated, you'll file Schedule 88, Internet Business Activities along with your Corporate tax return. As with any other business you must keep adequate records to support your income and expenses. As long as these records are accessible and readable they can be in electronic or paper format. If you operate an online business and are looking for an accountant visit our website to schedule a free initial consultation. https://youtu.be/tv6pcYhsL_M
When do I pay capital gains tax on the sale of a business?
Do I have to pay capital gains tax? What is capital gains tax? What concession will I receive? Simon Winter, Principal of Raine & Horne Corporate Business Sales SA & recent winner of the Real Estate institute of Australia's Business Broker of the Year Award for 2015 discusses capital gains tax when selling a business in Australia. If you would like to know more or are looking to buy or sell a business feel free to contact Simon using the details found at the end of the video.
How do I pay myself from my small business?
If you are a sole proprietor or a single member LLC, it's really easy to pay yourself from your small business. In this video learn how to pay yourself, how much you can pay yourself, and how often you can pay yourself from your small business. You will walk away knowing, "How do I pay myself from my small business?" Get your FREE Small Business Startup Checklist - https://www.SmallBusinessSarah.com/newsletter Have more small business tax and accounting questions? I love helping micro business owners like bloggers and Etsy sellers get a handle on their bookkeeping needs and tax questions. Get the answers you need at https://www.SmallBusinessSarah.com This video is for informational purposes only. Consult your accountant or tax professional for advice on your unique situation.
Views: 30 Sarah Korhnak
Should I Pay Myself Salary or Dividends from my Corporation?
Should I pay myself salary or dividends from my corporation? This is a very common question that I encounter in my accounting practice in Mississauga & Oakville, and the answer can make a big difference in your bottom line. http://madanca.com/blog/should-i-pay-myself-salary-or-dividends-from-my-corporation-as-a-business-owner/ Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table of contents 00:46 -- Salary (Advantages) 02:04 -- Salary (Disadvantages) 02:48 -- Dividends (Advantages and Disadvantages) 04:27 - Breakdown About the Author -- Allan Madan -- Accountant Mississauga Allan Madan is a Chartered Accountant and a Tax Expert in the Toronto, Mississauga and Oakville regions of Ontario, Canada. If you found this article useful, Allan Madan encourages you to visit his website http://madanca.com for additional tax tips and more information on this topic. Also, get access to Allan Madan's Free Report, "20 Tax Secrets on How to Beat the Tax Man," http://www.siteproweb.com/20-free-tax-secrets-from-allan-madan Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 55848 Allan Madan
How do I Register as an Employer and Pay Unemployment Taxes?
A guide for employers on registering as an employer with the Maine Department of Labor.
Views: 3065 MaineDOL
How to Pay Yourself as The Owner of a Single-Member LLC
Wondering how to pay yourself as a single-member LLC? We’ve got you covered! The main way to pay yourself is through Owners Draw, which means you’re withdrawing money from the business for personal use. But why an Owners Draw? For Federal Taxes, a single-member LLC is handled just like a sole-prop. How much can you take out? Up to you. Just make sure that whatever you take out is in your company bank account and that you have accounted for any taxes you may owe down the road. You can receive the draw through a check, electronic money or cash withdrawal. Just don’t forget to keep records. Fun Fact: As an owner of an LLC, you can actually choose to pay taxes like an S-Corp. If you elect this treatment, you should pay yourself as an Employee on payroll. Make sure to check out our video on S-Corp to learn more. To learn more about payroll and owners draw, check out these articles: - [READ] Want to Do an Owner’s Draw? Here’s the Overview You Need https://goo.gl/M8s8U7 - [WATCH] How to Pay Yourself as a Sole-Prop https://goo.gl/8wnc7z 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, exactly? 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. For more small business answers, visit us at: https://www.gusto.com/ask-gusto
Views: 4315 Gusto
All Up In Yo' Business: How Do I Pay Myself in a Multi-Member LLC?
How Do I Pay Myself in a Single-Member LLC?: http://youtu.be/fWkbJs3XLrs?list=UUNh... In a previous video I discussed how to pay yourself when you are the owner of a single member LLC. In an effort to not "single out" the single member LLCs, I wanted to also discuss how to pay yourself in a multi member LLC. Luckily for you, and for me, how to pay yourself in a multi member LLC is pretty similar to paying yourself in a single member LLC. There are three things to take into consideration when deciding how to pay yourself in a multi member LLC: 1. Making sure you keep the LLC adequately capitalized, 2. Following the terms of the Operating Agreement, and 3. Whether the LLC is taxed as a partnership or as an S Corporation. When deciding how to pay yourself in a multi member LLC, you need to first make sure the LLC will still be adequately capitalized after the members take any distributions. This means ensuring that, after the members are paid, the LLC will still have enough money available to pay for its overhead, stay current with debts, purchase any supplies or equipment that the LLC needs or may need. Keeping your LLC adequately capitalized is something that will help protect you from a court one day deciding to pierce the corporate veil if the LLC is ever involved in a legal dispute. It is also important to make sure you comply with the terms of the LLC's Operating Agreement when deciding how to pay yourself in a multi member LLC. (You do have an Operating Agreement, right? If you are part of a multi member LLC and you do not have an Operating Agreement, you have much bigger fish to fry than figuring out how to pay yourself. Stop. Call an attorney. Do not pass go. And so on and so forth.) The Operating Agreement might specify in what proportion the distributions are to be made to the members, or if a vote is required for a distribution, or if distributions are to be made only at certain times, and a whole host of other possible things. Finally, if the LLC is taxed as a partnership and not an S Corporation, then distributions can be made however & whenever and through whatever method the members agree upon. They can take the form of paychecks, bank transfers, etc. There is no distinction between a "paycheck" or a "salary" and a "distribution" unless the members say there is. If one member is elected as an officer and the members agree that, as an officer, he or she should receive a salary on top of the proportional distributions, then that needs to be honored. But absent an arrangement like that, distributions can be made however the members want. If the LLC has elected to be taxed as an S Corporation, then the members will receive "reasonable salary" payments, which payments can be made through payroll if the members so choose. The salary in that case though is different from the "distributions" from the LLC because the salary is taxed at a different rate than the distributions. I generally recommend that small businesses outsource the payroll duties in instances like this because it is usually worth it to leave that task to someone who knows how to do it properly, and it leaves the owners free to focus on building the business. After those things are taken into account, the actual method of how to pay yourself in a multi member LLC can vary. Again, they can be in the form of transfers, checks made out to the members, whatever the members decide. Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/AUIYB The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by 180 Law Co. LLC, with its principal office located at 50 S. Steele Street, Suite 250, Denver, CO 80209. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship 180 Law Co. LLC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. All Up In Yo’ Business® is a registered trademark of 180 Law Co. LLC. ©180 Law Co. LLC. All rights reserved.
Views: 13349 180 Law Co. LLC
VAT - How to make it pay for small businesses
http://www.deb-accountants.co.uk/ VAT registration - how to make it pay for you. If your turnover exceeds the prevailing VAT registration limit you have to register with HMRC. However it may be in your interest to register on a voluntary basis. If you sell to other businesses that are themselves VAT registered, by becoming registered you will charge them VAT on your supply of goods and services Which most likely they will be able to recover. If you do this you will then you would be better off as you would then be able to recover any input VAT that you incur on many of your purchases In such circumstances you could be uncompetitive if you don't register. Imagine that your purchases cost £100 plus VAT at 20%. You thus pay out £120. Say you want to make a profit on the sale of £100, then you have to sell at a price of £220. If you are VAT registered you still pay out £120 but you can recover the input tax and thus the cost to you is only £100. To make the same £100 profit you must sell at a price of £200, but if you are VAT registered you Have to charge £40 VAT If you sell to a VAT registered business they will recover the VAT also and thus the net cost of your goods to them is £200. This is cheaper than the price of £210 if you are not registered. Your VAT registered customers would thus prefer you to be registered also. Where you sell to the general public your VAT registration will make you more expensive as they would be unable to recover the VAT that you charge them They would face a cost of £240 instead of £220. It is also relevant to mention that by not being registered your customers will know that your business is small. Your may need to register for image purposes. Another way you can make money on being VAT registered is to take advantage of the Flat Rate Scheme should this work to your advantage. Whilst you still charge VAT on all your sales at the prevailing VAT rate, in calculating the amount that you pay you simply apply the appropriate Flat Rate percentage for your business to your gross turnover. You can ascertain the appropriate rates for your business by simply doing a Google search For Flat Rate Scheme and follow the link to the HMRC website. Whether or not the Flat Rate scheme will work for you will depend upon the profit margins that you work with in your business and the rate that applies to your business. Some businesses will benefit from the scheme -- others will not. You will need to do the calculations on both the Flat Rate scheme and the conventional basis to see which one works best for you. If you want to discuss your options with regard to VAT, please contact us at DEB Telephone 01226 245824 or Email [email protected] Watch out for our video about the problems of the VAT trap as this may help you make The best decision for you business.. To get further help and advice please subscribe to our YouTube channel And sign up to our blog which you can access by clicking on this button on our website And entering you email details here.
Views: 26742 debaccountants
Paying workers - Pay as you go (PAYG) withholding: Tax basics for small business
If you employ a worker or if you are a director of your company, this video explains the pay as you go withholding obligations you have as an employer. For more information, visit http://www.ato.gov.au/TaxBasicsVideos
How does a LLC Pay Quarterly Taxes?
How does a LLC Pay Quarterly Taxes?
Views: 166 Home Biz Tax Lady
How Do I Pay Income Tax On The Money I Make Without An LLC?
http://JoeCrumpBlog.com - Sign up for free real estate investing training with 25 year real estate veteran, Joe Crump. Learn how to build an automated, sustainable, profitable investing business with no down payments and no credit. Discover the most advanced automation software for investors available today at: http://www.PushButtonAutomarketer.com Learn how it will bring you a flood of motivated seller financed leads every single day. Six Month Mentor Program: http://www.ZeroDownInvesting.com Read the Transcript: “Hi Joe. I’ve got a quick question. I’ve never owned a business. My question is, when I get rid of a home, how do I pay the taxes on that money? Do I need a bank account or accountant or what?” – Kwame Williams Joe: When you buy a property, and let’s say we do a for rent deal and you make $5,000 as lease option fee and that’s your profit in the deal, all you have to do if you don’t have a business set up is create a Schedule C. And if you have somebody preparing your taxes for you, they can do this for you, and if not, you can get one of the Turbo Tax or one of those types of programs and it’ll ask you if you’ve got a business of your own and you just say yes and how much money did you make and you put in the amount of money you made, and if you made $5,000 you show that you made $5,000 worth of income. Joe: Now, on a business like that, you can reduce your income by all of the expenses that you’ve got. So any of the expenses that relate to your business can reduce your profit and then you only have to pay taxes on the amount that you made. Joe: But you do have to pay taxes on profit; that’s the situation here. You want, as you build your business, to find the best way to protect your business and to keep your taxable profits down. You can do that by owning property, you can get depreciation on a property that’ll reduce your taxes and you can make sure that certain expenses that you have can be applied to your business. Joe: Keep in mind, for example, if you went an d got the mentor program, in most cases you can deduct the cost of the mentor program from your profits in your deals so that you won’t have to pay taxes on any profit up to the cost of what you spent on the mentor program or on your “Automarketer” or your websites or your car to go to talk to sellers; any of those things. Joe: You’ll want to set up what’s called a Schedule C and if you just type ‘Schedule C expenses’ into Google, you’ll find out a lot about how Schedule C’s work, or if you just again, get Turbo Tax and follow the prompts that’ll take you through it, or easier yet, pay an accountant $350 to do your taxes for you (H & R Block). As you get more advanced, you’re going to want to get a good CPA to do this for you. Joe: The thing you do not do is not declare your income. If you don’t declare your income, they can put you in jail for it. The IRS will come after you and they’ll try to put you in jail for not declaring income. If you take too many deductions, that’s a better problem to have. All they’ll do is they’ll charge you the tax and they’ll charge you a little penalty on top of it if they think that one of your deductions is not allowable. Joe: So yes, be aggressive on your deductions. Do not ever lie about your income – always put that on your tax return and then always figure your costs based on that. And as you go through this process, learn how to put money aside so that you’re paying quarterly taxes. Joe: It took me a long time to figure out how to do that, but you can do it. If you have a good CPA, they’ll help you. And it’s really not a big worry until you start making a lot of money. But I’ll tell you – it’s really painful if you made $100,000 and you owed $20,000 in taxes and you didn’t pay them at the end of the year and April 15th comes by and you give that stuff to the CPA and they do your taxes and they say, ‘Hey, you’ve got to pay your taxes on April 15th – 2 weeks from now. That’s $20,000 and you don’t have that money’ - it’s a little bit stressful, so don’t put yourself in that situation. To read the rest of this transcript and more of Joe Crump's articles, click here: http://joecrumpblog.com/how-do-i-pay-income-tax-on-the-money-i-make-without-an-llc/?utm_source=Youtube&utm_medium=EndLink&utm_campaign=Youtube
Views: 3952 Joe Crump
Should I declare a year end bonus, or pay company dividends to myself? - Tax Tip Weekly
With the end of the year approaching, business owners must make important decisions quickly to reduce their business taxes for the year, one of which is paying out bonuses. The topic of today’s video is “Should I declare a year-end bonus or pay dividends from company profits to myself?” 0:34 – Bonuses 1:45 – Dividends 2:45 – For Example 3:00 – Here's the tip! Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 2030 Allan Madan
Do I Have To Pay Self Employment Tax?
Self employed individuals tax center. Percent of your do i have to pay self employment taxes? . How to know if you should pay self employment tax 14 steps. Percent social security tax on up to of your earnings and if you have wages, as well self employment earnings, the wages income in 2017, will pay appropriate. 10 tax benefits for the self employed investopedia. Self employment tax 2016 what you need to know the motley pay self cbs news. How much self employment tax will i pay? Calcxml. There is a certain criteria you have to meet be considered self employed do i need pay the employment tax? Woman working on sewing machine. The self employment tax turbotax tips & videos. Paying both self employment tax and fica the balance. 14 things you need to know about paying taxes as a skillcrush. Income taxes for self employed, contractors? . Mar 2016 do i have to pay self employment tax? Basically, any income that doesn't already payroll taxes withheld, and didn't result from your 4 sep 2013 the tax trips up a lot of small business owners; Here's yourself, you'll need know thing or two about you owe. How to calculate your self employment tax in 4 simple steps gusto. Dec 2016 how do i pay self employment tax? If you have earnings subject to tax, use schedule se figure your net from employed individuals generally must tax (se tax) will need prior year's annual return in order fill out form 1040 es calcxml's calculator help determine what be 12 jun 2017 if are and also income, here's can't over unless employer has made a calculation error 21 know should. If you are a small business and do not incorporate or form however, decades of innovation entrepreneurship have forced the irs to create process collect social security medicare taxes from self employed topics below will help understand what need pay your file return if am i required tax 6. So, you've started a business or decided to freelance, and freed yourself from aside the income tax, you'll need pay self employment taxes that support however, there are some ways you can reduce amount owe tax has two parts social security medicare, which together take 15. If you are self employed social security. Oct 2016 had you bothered to take the first option, however, would have rued your thus, total self employment tax burden under current law can reach as lastly, any net income of partnership that isn't paid out. Dec 2016 being self employed means taking on risks and costs that you don't have when should claim every business tax deduction qualify for what's more, only pay employment 92. How do i pay tax on self employed income? . If you pay self employment tax, do receive social security what are u. Self employment tax (social security and medicare taxes). Social security taxes if you are in business as a self employed sole trader or partnership (including property letting 30 mar 2017 pay your income and then employment too. Tips to reduce self employment taxes turbotax tax tips & videos. Why? Get the answers to
Views: 19 Funny Question
Small Business Solutions Series: Do I pay tax when I take money out of my LLC?
Gary discusses how the owner's of LLC claim their income and losses.
Views: 431 goQBO
Do I Need to Pay Taxes on my Photography Hobby?
Don't miss another live video! http://www.flourish.academy/live SEEK PROFESSIONAL ADVICE. IRS article: https://www.irs.com/articles/tax-tips-people-who-earn-income-hobby
Views: 1495 Heather Lahtinen
DTI & LEVERAGE vs IRS & INCOME TAX (Pay or Avoid Taxes?)
When does it make sense to take advantage of the legal ways to avoid taxes and when does it make sense to pay as much tax as possible? Matthew Pillmore, president of VIP Financial Education, discusses this in today's video all about DTI or Debt to Income Ratio, Leverage, Income Tax, the IRS and financial planning. Matt discusses when it makes sense to write off as much as possible and when it makes more sense to not take those deductions so that your DTI looks better for accessing new capital accounts and leveraging new debt for various business, real estate and investing opportunities. Don't forget to sign up TODAY for your exclusive one on one consultation at: http://www.FreeCoachingCalendar.com Our coaching costs can change with demand. To see our current pricing please watch this video: https://www.youtube.com/watch?v=HbVLmCvFjoI Much like Robert Kiyosaki, VIP is all about utilizing leverage (via Debt Weapons) to increase cash flow through investing in all types of things, from real estate to small businesses. VIP differs in their approach to the follow through, utilizing some of the things Dave Ramsey teaches - optimizing your cash flow by decreasing expenses - however VIP differs there too. We are all about maintaining the lifestyle design YOU want, all while optimizing your expenses through creative approaches. We're all about the best of both worlds. Do you watch Dave Ramsey, Robert Kiyosaki, Grant Cardone, Gary Vee, Graham Stephan, Meet Kevin, Ryan Scribner, Replace Your Mortgage, Project Life Mastery, Russel Brunson, Alex Becker, Tanner J Fox, Refusing to Settle, Dan Lok, Jeff Rose, Tai Lopez, Bigger Pockets, or Pat Flynn? Then you'll love our channel! Be sure to subscribe!! Want more actionable financial tips and tricks like this one? Check out our YouTube channel here https://www.youtube.com/channel/UC45hHuqWfdi7TIZg0RDG9_g Make sure to check out our social channels for more insight and industry news! Facebook - https://www.facebook.com/VIPFinancialEducation/ Instagram - https://www.instagram.com/vipfinancialed/ Instagram (Lifestyle) - https://www.instagram.com/vipfinancialedlifestyle/ Twitter - https://twitter.com/VIPFinancialEd LinkedIn - https://www.linkedin.com/in/vipfinancialed/ BBB A+ Rating - https://www.bbb.org/denver/business-reviews/financial-services/vip-enterprises-llc-in-westminster-co-90024254/ CONTEST RULES: In order to be eligible for the ongoing contests you must: A) Be Subscribed B) Comment on this video (We’d love to hear what you’ve learned from our channel and how it is impacting you!) Each time you comment on a new video your name will be entered into the contest drawing, so the more you comment on the videos, the better your chances of winning! You can also gain additional entries by sharing our video on your social media accounts or by commenting on our Instagram or Facebook accounts. CONTEST PRIZES: 1: $25 Amazon Gift Cards a) 1 winner selected each week for next 24 weeks. Current coaching members are also eligible for the contest! Complimentary services and products mentioned in our videos are available for a limited time only and are not guaranteed at the viewing of this video. VIP Financial Education provides resources for educational purposes only. Our education is not a substitute for legal, tax, or financial advice and results vary. VIP Financial Education encourages viewers to do their homework before taking any financial action. VIP Enterprises, LLC may from time to time earn commissions by recommending various products, services, and programs.
Views: 5609 VIPFinancialEd