BIGGEST MISTAKES ONLINE BUSINESSES MAKE WITH TAXES THAT COULD COST THEM THOUSANDS!
Whether you are just thinking about forming a single member LLC, or have already done so, chances are that taxes are on your mind. And if they aren’t, they should be. Because sooner or later, the day of reckoning will come and you will need to pay income taxes on all the money you are making with your online business.
But did you realize that you have choices when it comes to how you get taxed as a single member LLC? In today’s video, I will share with you the 4 different elections you should be considering when it comes time to tell the IRS how you want them to tax your business.
For a quick summary of these option, click here to download our handy cheatsheat: https://pages.convertkit.com/38032ed981/c3b251fb45
Are you ready to form an LLC for your online business? Click here to get started: http://www.hawthornlaw.net/diy-LLC
Or if you just want the operating agreement template, then click here: http://www.hawthornlaw.net/llc-operating
Still trying to figure out the proper legal structure for your business? Click here for a cheatsheet: https://www.hawthornlaw.net/ultimate
TWEET THIS VIDEO: https://ctt.ac/W7of9
Say Hi on social:
Twitter: https://twitter.com/hawthornlg
Instagram: http://instagram.com/hawthornlaw
Join us on Facebook: https://www.facebook.com/groups/1397535957212335/
BLOG POST URL: http://www.hawthornlaw.net/single-member-llc-taxes/
Some of the links below are affiliate links. If you purchase through these links, it won’t cost you any additional cash, but it will help to support my channel. Thanks!
If you need to get a hold of me, you can schedule a call using this link: https://www.hawthornlaw.net/consult
(Note, if you sign up for a LLC on the call, we will apply the cost of the call towards your LLC package – this offer is subject to change).
**Unless you are a legal or private coaching client, I do NOT respond to emails or contact form submissions.**
I use Vidiq to optimize my videos, here is an affiliate link if you would like to support me and sign up for their free plugin: https://hawthornlaw.net/vidiq
YOUTUBE URL: https://youtu.be/uaEqBohDnF8
This video is for entertainment and informational purposes ONLY and should NOT be considered legal advice. By watching a video or commenting on a video, we are not forming an attorney-client relationship. If you need specific legal advice, please ask an attorney in your state.
