This was eloquently broken down. Keep up the great work guys.

So from what I'm understanding, it seems like it boils down to how likely you are to get sued. If you're working alone and doing something that's pretty low-stakes (web development, graphic design, illustration, interior decorator, etc), then it probably makes the most sense to be a sole proprietor. If you're doing something with a higher risk of legal repercussions (construction, architecture, lawyer, physical therapist, etc), then you'd probably want to consider an LLC or S Corp. Does that sound about right?

Damn, I was going to click another video first, but I think this is the best video on the subject ever made. You are so good at organizing the knowledge so it makes sense!

Excellent!!! Excellent!!! Job Krystal. You explained the difference between the two entities in such a way that a minor can glean from the benefits of your knowledge and wisdom. I also love the way you recapped the structure of LLC vs S Corporations in the side panel captions. Very professional and likewise ELOQUENT. This has been the best break downs of the pros and cons between the two entities of corporations I have ever seen. Excellent Job!!!!!

Starting a new business and wasn’t sure which way to go. Honestly still not but definitely have something to think about after this video. Thank you!

Excellent video. Thank you! I have watched several similar videos in the past but this made everything “click”! Really appreciate this clear, well organized presentation and the graphics showing the ACTUAL forms (for us visual learners!) thanks again!

This video was really well done, easy to understand and not overwhelming. Thank you!!

Awesome presentation! You did an excellent job explaining the the pros and cons of each business type. You spoke eloquently and clearly to your audience. Great work!!

Thank you sooooo much! 🥰 Currently an SP, but pretty sure need to change to LLC. 🤷‍♀

This is a prime example of why I choose to conduct all my activities in full view of the customer. I possess a high level of assurance when it comes to them witnessing my efforts. This aspect holds significance for both the clientele and myself. Establishing a sole proprietorship aligns with my chosen path.

Can you do a video about the benefits between creating a single member LLC vs the multi member LLC for a husband and wife buying real estate for short term rentals?

Thank you. Finally a video that just keeps it simple and straightforward.

Very clear and concise. I’m currently an LLC, filing as C-Corp. Starting another business and was undecided if I want to go LLC first or sole proprietor. I think I’m going sole proprietor for this one because it’s not going to make any money for a while. Thanks.

This channel is outstanding!! New sub. Thank you for keeping it simple language for those of us that are so new to this. Just got my LLC.

Thanks, probably going to start off as SP and than LLC

Thank you! I watched at least 30 videos and until I got here I could not figure out where to start or what I wanted to do.

My head hurts all i want is to open an online selling website 🤣😞 still got a lot to learn

Love to see it & share it! Yall answer so many FAQs

Thank you! Very clear!

Sole proprietor running a small one person painting company

Outstanding very well presented and explanation.. so many content creators need to take notes

Omggg I love the structure of the material and the fact that the information is given straight up 👌

Excellent work in explaining the differences. Enjoying your content. Any contacts in Orlando, Fl who I can speak to about about using their CPA, bookkeeping services?

I plan to form a sole proprietorship and form a LLC later.

Thanks for the valuable information!

Wow! Great video🤗 I'm so glad it popped up Thanks Darling 💯

You just earned my subscription, lots of appreciation

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.

great video simple and to the point

That was well explained!

Very informative information thank you 🙏🏽 however how or what site would I get an LLC form to file??

Great job Krystal A! This was very informative. The whole team is doing a great job of informing. Do you guys support startup businesses in Texas from a CPA perspective? Thanks!

Currently I am a sole proprietor but I am established my LLC.

Please explain the difference between sole proprietorship and (individual with a DBA)

Excellent summary. For tax purposes, start up costs or annual costs, are their significant differences between an LLC and a PLLC?

This is phenomenal. Thank you

Nicely Done! Great Presentation

Nice breakdown. Thank you.

Great job Krystal!

Great video

I needed this!!! Thank you 👍🏾

Excellent breaking it down 👍🏾

Thank you for that. I learned a lot. Question, if I invest in an investment club with a sole prop EIN, are gains considered income?

You are a good teacher

Great video with critical gems to keep in mind. Question: if an LLC was setup in 2021 but no revenue was generated, do u suggest opting for the S corp tax election or should one wait until the LLC makes some money? There were several expenses related to the LLC setup.

LLC here. Do I need to file taxes if I didn't generate any income in the LLC? There were expenses. Texas.

Thanks, this was very informative... Aint nothing like brains and beauty!!

Awesome video, Im an sole owner LLC, profit is over 450K through consulting, so should I change to S CORP?

Great job explaining

Can a LLC be started by a trust or should the LLC be started first and later placed within the trust?

Thank you. This was on point!

Thank you

Great info! 💪

Sole Proprietor and think about changing it to a LLC

Great video! Thank you!

For a fictitious business name statement, /DBA... Does the owner, the individual that is doing the business have to be listed as the registrant? Can a sole proprietor , hire a registered agent, I don't want to be my own RA. Thanks for your helpful videos!

Hi, which is better? Sole proprietor or dba for online tshirt business?

LLCS that are single owned do they get 10099s NEC? I’m confused ? Should I ask them how they are filing (S corp or C corp) ? Trying to do 1099s and it gets tricky with them

Hello again I currently have a business, not operating, since I relocated to another state, the business I currently have I’m the sole proprietor and would like to operate as LLC instead, could you guide me?

Cant you do a video on Co-ops cooperatives?

Do you recommend a new KZfaqr to be Sole proprietor or form an LLC in the very beginning stage?

So If I don't make much with my business ..I shouldn't make an EIN yet? I have an LLC but no EIN yet

great video , thank you.

If operating as a sole proprietorship would it be necessary to have a bussiness name?

"Or you might be confused on the entire idea and why you should actually care." LOL this

Awesome Professor! Thank you for helping to keep us on the same page.

Well done. Thanks.

Great job

But wait. If a single member LLC has the liability split between all the members, then the single member has 100% of liability. So liability is not limited and is the same as sole proprietorship? In that case, the only difference between sole proprietor and single member LLC is having to pay the $800/year fee for having the LLC?

Very informal

Thank you, sweetheart.

Great

Awesome Job! :)

Very helpful

This is my first business. Went to the county to set up a DBA. Haven't made money yet. But should I open up a LLC instead? or can I open a LLC with my fictious name?

Thanks for the vid! How does it work if I’m trading stocks?

You can STILL! Take out a fictitious name and get a business loan and account with a sole proprietorship

So if a LLC makes no money it still pays taxes?

Thank you!!!

Under a sole proprietorship, does the business get a name or is it just the name of that person?

My business is a LLC but I filed my taxes as a sole proprietor based on my accountant advise. That’s that make sense? I’m a one member business Thanks

S corp! And I actually am going to stay S corp after watching this hahah thank you!

Wonderful ty

Question if I do junk removal and collect cash from all my jobs how do I report that just putting it in the business account as a sole proprietor and i get taxed on all that money besides my expenses ?

Im 21 and just got my application for a sole proprietorship approved, and i want to pursue a handyman business that charges under $1000. Any advice? I know well enough to cut my losses and not risk anything for stuff im not educated on. Thats what the trip fee is for lol.

What if you had $0 income for a sole properitorship?

Hi which state do you practice in?

LLC

So if I used my Ecommerce LLC for things outside of e-commerce is that a problem?

What if a sole proprietor is also an employee of another company? In this case, how will the tax of the salary from the company the sole proprietor works for be calculated?

Hi, I’m a Sole proprietor and I won’t to be a single LLC how do I do it?

I need to change from Sole to LLc I don't want to be sued

I just want to save money on taxes if I profit 100k a year , what should I do I live in california they tax us into poverty

Sole only guy

Really great Info. Question i hope can get answered. I feel like sole proprietor is better for me at least for now. But there is one thing. I want to run multiple brands for my photography business for different types of photography. But doing a Sole proprietor, you can only have one DBA. So should I file an LLC for that reason and than file a DBA under that llc for the second brand? I don't see any way to do two brands with just sole proprietor

You didn't answer the bigger question which one is more beneficial if you're profit 50 or 100k annually. 😢

Are we able to schedule a call with you ? :)

Mama

Sounds like we’re paying WAY too much tax…

You so cute