Why Your LLC Shouldn't Be Taxed As An S-Corp

  Рет қаралды 20,290

Clint Coons Esq. | Real Estate Asset Protection

Clint Coons Esq. | Real Estate Asset Protection

Жыл бұрын

In this video, we'll discuss the benefits and drawbacks of this type of corporation, and explain why LLCs should not be taxed as an S-Corporation.
Watch the full video: • 7 Reasons Why LLCs Sho...
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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 Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

Пікірлер: 12
@aa1364
@aa1364 Жыл бұрын
You only pay tax when u sell the asset, and when u sell the asset you will recapture depreciation you took on it either way. There’s no asset worth a debt of 50 grant when it’s a salvage value unless bonus depreciation was taken
@moisehermantin6532
@moisehermantin6532 8 ай бұрын
This is really good advice. I love the example if the $50k basis of an asset and the affects of switching from LLC to S-Copr
@ClintCoons
@ClintCoons 8 ай бұрын
@moisehermantin6532 Thanks for watching.
@ClintCoons
@ClintCoons Жыл бұрын
Watch the full video: kzfaq.info/get/bejne/qL-ijaty1srFdX0.html
@lukastemberger
@lukastemberger 6 ай бұрын
What's an example of an asset that has depreciated, but has $50000 of debt on it? I don't get what these imaginary things are :-/
@roymartin1385
@roymartin1385 3 ай бұрын
When bonus depreciation is 100% this happens frequently.
@headlibrarian1996
@headlibrarian1996 6 ай бұрын
Plus you could end up effectively paying FICA on non-FICA income. If you’re doing that intentionally no big deal, but I suspect many get blindsided by the tax hit.
@aa1364
@aa1364 Жыл бұрын
Also, Realestate NEVER recommended to become S-Corp unless the CPA is never experienced because mostly passive income!
@frankmartinez2987
@frankmartinez2987 Жыл бұрын
Always great info. Am I right in thinking the vast majority of LLCs should never choose an S election?
@ClintCoons
@ClintCoons Жыл бұрын
Not always. Need to make sure your LLC operating agreement is properly drafted.
@frankmartinez2987
@frankmartinez2987 Жыл бұрын
@@ClintCoons Thanks!
@socalm1258
@socalm1258 Жыл бұрын
Always a con and pro to it. I'm happy he has put this info out. I'm trying to make the decision now if I should go the S corp route. Trying to avoid the self employment tax.
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