How to pay youself from your LLC

If you do business out of your home, is your rent not a business expense then?

No withholding tax ??? It must be a new thing Jesus Christ that i missed if I don’t know. I thought he was talking about dividends but whatever.

Still have to pay SE, state, and fed taxes on those owners draw correct?

if anyone is looking for a business bank account globally and payment gateway also reply me

Is it this simple for a partnership as wel?

What if u have a holding company that owns the operating llc. Does it have to go to the holding company bank acct first

Do you have to write a check or can you withdraw with your debit card

Man’s lyin don’t listen to this people

This helped dms so much thank you

Im so lost 😕I’m an employee for a remodeling company and he wants to register an llc for me. Why would that be a good idea? If I’m an employee not a business owner

What if I’m making only $7000 a year?

"commingling funds "
commingling funds back in forth to your llc bank account to your personal bank account makes your llc pointless, it open a person up to civil liabilities, alleged fraud and embezzlement charges,

I'm 21 so please correct me if I'm wrong

Wow... mind blown

💯

How do you put that on your tax return 1065?

Is an owner’s draw taxable?

I am starting a lawn service business, would you recommend me opening it as a LLC even though I'm by myself 😊

😅😂😂❤❤

The only way to open an llc is to HAVE a business? Or just have to have a job/income? I wish I understood any of this 😩😩

Why not cut yourself a check from the business bank account

Would this also apply on Grabbing cash from a business credit card?

What is an llc ?

Can i zelle myself from my business acct over to my personal acct or would it be better or safer to just write a check to myself?

Did you just make a whole video basically saying withdraw it from your bank account

Yeah so does that mean you're getting taxed as a Sole Proprietor or as an S-corp?

Can’t you do distribution too? That money is not taxed

😅 man

Would this not be considered commingling funds?

What if you register your home as your home office and the rent/internet is all considered bussiness expense as well?

Why should a small business owner get an LLC?

Thx !

Nah. You gotta write up self a check and have yourself on pay roll 😂

What’s the tax percentage or fees on the owners draw?

If you use your home partly for “business” like an office make sure to write off a portion of rent and utilities too 👍🏼

If you use your home partly for “business” like an office make sure to write off a portion of rent and utilities too 👍🏼

I fucking new I wasn’t the only one that did this! $ apparently the dollar has always had one slash. But I’ve always known it with 2 Mandela effect

What is you are 1099 how does that work with an llc?

Sounds like your piercing the corporate vail ....

Why do many owners say write yourself a check instead??

Wouldn’t this be commingling funds? if so your setting your self up to get sued😂

I heard not to do this cause you still could be sued if the buiness goes up

So you have to "name it" an owners draw when you make the transfer online? Where do you specify the title of "ownership draw"??

Can you do this with a sole proprietor llc and what is the tax cap on sole proprietor 15%?

What if money goes into a personal account first, what then?

Don’t forget that you should only do this if your LLC/business is only making less than 50-70k a year. Otherwise switch your LLC to an s corp to reduce taxes. And not pay nearly half in taxes of your owners draw.

Does an owners draw have income tax waved as it’s already taxed when the llc gets the money ?
Or does income tax some how get paid later after you do the owners draw or how does that part work?

You got more videos?

Or can just write ya self a check simple 😉

Does using zelle to transfer money from llc to personal account count as owners draw?

Can I set up a payroll service with a 3rd party provider and put myself as the owner and worker?