Dividends

If you’re starting a business, you need to make some hard decisions as to how to structure your business for tax purposes. This video attempts to provide a basic understanding of the various ways businesses can be organized for tax purposes.This video is an oversimplified view of what can be complicated topics. More in-depth videos covering many of the concepts in this video are either on the way, or here already.For an overview of self-employment in general, click here: https://youtu.be/fY1dZGOVIEwTo find out what Self-employment Tax is, and how it’s calculated, click here: https://youtu.be/JQwyHiYR9vsFor a beginner’s guide to Qualified Business Income Deduction, click here: https://youtu.be/OW3N4y1vxGYADDITIONAL RESOURCES AND INFORMATIONnolo.com: “What is a Limited Liability Company (LLC)?”: https://www.nolo.com/legal-encyclopedia/what-is-a-limited-liability-company.htmlU.S. Small Business Administration: “Choose a Business Structure”: https://www.sba.gov/business-guide/launch-your-business/choose-business-structureEntrepreneur.com: “Business Structure Basics”: https://www.entrepreneur.com/article/75518IRS Publication 334: “Tax Guide for Small Business” https://www.irs.gov/pub/irs-pdf/p334.pdfIRS Schedule C “Sole Proprietor Income and Expenses”: https://www.irs.gov/pub/irs-pdf/f1040sc.pdfIRS Schedule SE “Self Employment Tax”: https://www.irs.gov/pub/irs-pdf/f1040sse.pdfIRS Form 8995 “Qualified Business Income Deduction”: https://www.irs.gov/pub/irs-pdf/f8995.pdfIRS Form 1065 “Tax Return for Partnerships”: https://www.irs.gov/pub/irs-pdf/f1065.pdfIRS Form K-1 (1065): “Partner’s Share of Income, Deductions, Credits”: https://www.irs.gov/pub/irs-pdf/f1065sk1.pdfIRS Schedule E: “Rental and Supplemental Income”: https://www.irs.gov/pub/irs-pdf/f1040seIRS Form 1120S “Tax Return for Small Business Corporations”: https://www.irs.gov/pub/irs-pdf/f1120s.pdfIRS Form K-1 (1120S): “Member’s Share of Income, Deductions, Credits”: https://www.irs.gov/pub/irs-pdf/f1120ssk.pdfIRS From 1120 “Tax Return for Corporations” https://www.irs.gov/pub/irs-pdf/f1120.pdfIRS Form 1099-DIV: “Dividends and Distributions”: https://www.irs.gov/pub/irs-pdf/f1099div.pdfIRS Form 2553 “Election by a Small Business Corporation”: https://www.irs.gov/pub/irs-pdf/f2553.pdfIRS Form 8832 “Entity Classification Election”: https://www.irs.gov/pub/irs-pdf/f8832.pdfIntro Music: “Bluesy Vibes” – Doug Maxwell – YouTube Audio LibraryBackground and Outro Music: George Street Shuffle, Kevin McLeod, http://incompetech.com via YouTube Audio LibraryDISCLAIMER: This video is for educational and informational purposes only. It is not intended to render tax advice or investment advice for individual situations. If you have questions regarding your particular situation, please consult with a qualified tax or investment professional.The tax information in this video is based on tax law and IRS regulations in place when this video was published, and is subject to the whims of Congress.