Small Business Taxes for Beginners & New LLC Owners
Small business taxes for beginners. There has been a record-breaking number of LLCs created in the last two years according to US business formation statistics. Of course, this means there will be a lot of new business owners who need to learn how to handle their taxes.
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Timestamps
Preview/Intro (0:00)
Individual Income Tax (1:54)
Corporate Taxes (3:38)
Payroll Taxes (4:40)
Self-Employment Taxes (5:31)
Other Uncommon Taxes (6:54)
How to Pay Business Taxes (8:27)
Business Tax Deductions (11:44)
Compliance Checklist (13:33)
IRS Receipt Requirements (15:45)
Other Popular Uploads:
IRS Audit & Tax Court Cases: https://youtu.be/jLtBr-aKQ-w
7 Popular Tax Write-Offs That Could Trigger an IRS Audit: https://youtu.be/vbg-b9D3bsQ
IRS Receipt Requirements: https://youtu.be/R7BNZPCz310
Single Member LLC, What You Must Know: https://youtu.be/iHy1xLYqS6Q
How to Start a Business: https://youtu.be/gEICb03wQng
How to File Your Taxes as an LLC: https://youtu.be/vqsghJV1AbU
5 Startup Grants: https://youtu.be/FweABu-XPNM
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).
Thx for the video, nice presentation skills, need to learn from you
Thx recently divorced, my husband saw that our taxes was completed. Now I am tryjng to understand this process. Very helpful. ❤❤❤
Schneider Lodge
Schmeler Road
Fay Oval
We all need to focus and "CACULATE" what we need to pay. 😂
How will I start??
Excellent video.
Thanks for this informative video. I started my business a year ago with no business experience. I have been an employee for 34 years before taking this step. This has been the scariest thing I’ve ever done in my life. Your video tutorial has given me a small amount of relief from the anxiety I’m having. Thanks again!!!
Next we’ll be paying tax for breathing🤦♂️
Cackulate
hello,
what is tax on option trading income?
Where do I get a kakalater
Thank you
Great information. Thank you 👏🏾👏🏾👏🏾
just 1 quesions after watching this. when I do file taxes, do i file them twice, #1 the business itself and then #2 filing under self-employment taxes for personal?
As an owner operator single truck trucking company would it be beneficial to be a S Corp?
Wait how are you paying quaterly taxes??? If you got to file at the end of the tax year to add on your deductions????
Kakilated 😂
Great info! Thank you
Does this apply to PLLC ?
Bro I am 14 and trying to start a business, I dont want to file taxes because I dont know how to do it, My yearly pay is set to $0, my workers are independent contractors and have yearly pay of less than $400. SO the only file I would have to report is probably schedule C form, but I dont want to because I dont even know how to do it 🙁
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Hey, I will appreciate everybody who can just drop a form that I need to file. I have Partnership LLC (with my wife), and Yearli turnover was 3000$, and it is in NJ. What forms need to be filed? 1065 / k-1 / 1120s / 1040 (individual income) that is all ?
thank y ou for a great summary…really helpful…question? curious if there are tax forms created in excel format?
Excellent breakdown. Thanks!
Single member LLC’s have to file quarterly? I thought that was only for S/C corp. I just opened a startup business in June. I’m still designing my product and have no revenue, only startup expenses. I still have a full time job. Can I file my LLC taxes annually along with my regular W2 from my full time job?
Why do we overcomplicate shit for no reason? TAXATION IS THEFT.
Honestly I bet taxes were made over complicated so people make mistakes so the government can add more fees and penalties
Thanks for sharing. Kind regards form Buenos Aires.
Good job dude…
I work a 9-5 and just filed taxes.
I just got a business license to start a clothing brand and owe quarterly taxes 2 weeks after receiving my license. Im so confused.
YOu didn’t cover Sales tax. I"m a reptile breeder who works reptile shows and sells misc items as well.
Thank you so much for making the video very informative
Don’t ever take advice from someone who doesn’t know how to pronounce “excise”
I payed my first LLC ownership taxes this beginning of this Year I’ll be up on up on it
Actually a very good vid.
As a startup, can i deduct cash I put into my new business account from my w2 income?
Such a great video I love the detail I love the graphics not only do you tell us what we need to do, but you also show us with the examples the table these are top notch videos. You are one of my top tax professionals I love to learn from you also Carlton Dennis and few others. keep cranking out these videos. Such a great content.
Bashirian Tunnel
Wait I’m confused Texas doesn’t have an income tax according to Google when did this change?
Very helpful!
Can I write off my payroll taxes as a sole prop with employees. For example I run payroll through adp. They automatically charge me each time I run payroll for Social security, Medicare etc. Can I write all that off?
How can I join your team trying to open me a pet store
I don’t have to comply with them. Income tax is illegal. We can take them to court and not pay income tax again.
Appreciate the time you took to explain everything. 😊
Appreciate the detailed breakdown! 🧐 I wanted to ask something unrelated: 🤔 I have a set of words 🤷♂️. (behave today finger ski upon boy assault summer exhaust beauty stereo over). What is this? 🤔
So how do I file taxes for LLC? This does not really explain it
This channel is a gem!
Stracke Via
Dude you’re good at this