Karlton Dennis
Karlton Dennis
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Entity Structures That Safeguard MY Wealth
JOIN THE TAX-FREE WEALTH CHALLENGE NOW! AUGUST 5-9 2024!
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TAKING THE NEXT STEP:
Join The Tax Strategy Accelerator Community ▶ www.taxstrategyaccelerator.co...
Download the Short-Term Rental Rule E-Book! ▶ ebook.taxalchemy.com/?...
Book a Professional Tax Strategy Consultation ▶ www.taxalchemy.com/consultati...
Watch this FREE Webinar on How to Cut Your Tax Bill in Half as a Real Estate Investor ▶ join.taxalchemy.com/registrat...
Get Help Setting up Your LLC, Now ▶ shareasale.com/r.cfm?b=617326...
Tax professionals such as enrolled agents help to structure entities for their clients on a regular basis. Proper entity structuring can result in a variety of benefits including enhanced liability protection, tax savings, and easier business management. Many business owners highly value all of these things.
However, even though tax pros commonly help their clients structure their entities, many of them do not publicly share the way that they structure their own entities. In this video, tax expert Karlton Dennis breaks down the full structure for all of the business entities that he owns.
This complete entity structuring explanation helps to provide insights into the way that he runs all of his businesses. Karlton walks you through his entire organizational structure for all of his business entities including his S Corps, LLCs, C Corps, and more. He also explains the reasons why he chose this particular overall structure.
Timecodes
0:00 The Trifecta
0:52 Using an S-Corp to Manage Multiple LLCs
1:45 How to Offset S-Corp's Income with C-Corp
2:39 Using a Private Family Foundation to Protect Assets and Save Taxes
4:00 Protecting Investments with Series LLC Structures
6:24 Inside and Outside Liability Protection Explained
7:48 Avoiding Probate with Step Up in Basis
8:24 Why Your Tax Plan Should Be Unique
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
#TaxSecrets #TaxStrategies #SeriesLLC
Переглядів: 3 990

Відео

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КОМЕНТАРІ

  • @g.a.m.230
    @g.a.m.230 17 хвилин тому

    You are phenomenal 🎉I am just taking baby step # one. This video was Sooo helpful! Thank you for sharing. Truly you simplified a few things. Praying for you. Thx sgain🎉❤🎉❤

  • @lorenzogadson480
    @lorenzogadson480 2 години тому

    I know a guy that recently filled chapter 13 bankruptcy and he wasn’t informed by his attorney that he can’t start a new business until after 4 years. So he wants to know if he could use a business trust to start his business 🤷🏾

  • @user-um7wf2xe6m
    @user-um7wf2xe6m 2 години тому

    However you can’t get certain certifications with a virtual address. You will need a “physical” address and it doesn’t need to be your home but trusted safe location. I have a virtual address and it was a headache to change it with the Secretary of State office. This Brother has great content but don’t worry you will be able to change it once you have the physical address that you want. Be Blessed & wish you all success.

  • @zylandavislife
    @zylandavislife 7 годин тому

    This guy is a fraud

  • @cbac796
    @cbac796 8 годин тому

    Well said!

  • @divyv20
    @divyv20 8 годин тому

    Hey Karlton , really nice video ! I was wondering if I could help you with more Quality Editing in your videos , make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?

  • @byronsr.3365
    @byronsr.3365 10 годин тому

    How do you find a good strategist. Many say things but many have no clue what they are talking about!

  • @user-ic6kq4vt9t
    @user-ic6kq4vt9t 10 годин тому

    So how can your C Corp have a fiscal year end?

  • @user-mm5te6px8g
    @user-mm5te6px8g 10 годин тому

    I knew it

  • @SoundMan1985
    @SoundMan1985 10 годин тому

    Hi I am IRS. I am family and I would like to be invited over.

  • @fufonecarter2489
    @fufonecarter2489 10 годин тому

    I signed up on the Uncle Kam website, but when i click the links I receive from Uncle Kam follow up emails It forwards to the ABC website. Any help will be greatly appreciated.

  • @user-xl1xf3th2u
    @user-xl1xf3th2u 11 годин тому

    How much do you charge to set this up

  • @AnaSosaaa
    @AnaSosaaa 11 годин тому

    So we should start our LLC and then once we have income generation coming in from LLC we then put that in a trust fund?

  • @rizalynwatkins2171
    @rizalynwatkins2171 12 годин тому

    How please help!!!!We are totally in need of help!!!

  • @amyk3020
    @amyk3020 12 годин тому

    I've been self-employed for years and I don't want to give them any more taxes. I want you to do my taxes

  • @algeriennesaffaires7017
    @algeriennesaffaires7017 12 годин тому

    Music is so annoying, and I can't focus on your talk. Informative videos should have no any annoying voices over or in the background or nearby, sadly cant watch this video

    • @016og
      @016og 44 хвилини тому

      If you are letting music get in the way of serious tax savings then you would continue to paying them. Just saying..

  • @equal2adimepiece222
    @equal2adimepiece222 12 годин тому

    This is not accurate. It does not cost $5k to file a tax return for one LLC.

  • @ahmadelarbi9544
    @ahmadelarbi9544 13 годин тому

    🔥 🔥 🔥

  • @ddollar4771
    @ddollar4771 13 годин тому

    Thank you

  • @kalyromero
    @kalyromero 13 годин тому

    How may a get a consulting call??

  • @JW-tk1sr
    @JW-tk1sr 13 годин тому

    Let me quess buy a rental property get a cost segregation study and create a big tax loss doing short term rentals and hope nothing goes wrong.... 😂

  • @Mike-zu9ke
    @Mike-zu9ke 14 годин тому

    Hey @Karlton Dennis! What if my company gets a loan from my wife for 1mill... and if anyone ever tied to sue me I'd owe my wife the 1mil first correct?

  • @onqvisuals6864
    @onqvisuals6864 14 годин тому

    What if you mobile mechanic?

  • @AndrewBonds
    @AndrewBonds 15 годин тому

    😂

  • @ericullman1062
    @ericullman1062 15 годин тому

    A good tax preparer will estimate required quarterly payments after estimating expected deductions but you will still need to make estimated 😮payments. They will just need to reduced amounts. The only way to eliminate estimated payments is to reduce taxable income to $0 - typically by claiming unlawful deductions and/or credits.

  • @tfsshady
    @tfsshady 15 годин тому

    Quick question #Karlton Dennis @Karlton Dennis, if i'm a business owner and we're using a room as a home office, but we have toys in that room because our baby is 2 years old and we have to watch him while working. would that be acceptable by the IRS? or we have to remove the toys and figure out another way to watch our baby?

  • @TheChess419
    @TheChess419 15 годин тому

    I will become a self-appraiser of my art. Buy for $1000, then donate 6 years later at $100,000. Great tax write off.

  • @TRE4RAISEDME
    @TRE4RAISEDME 15 годин тому

    Y’all wonder why the IRS hired 81K new agents

  • @louisrosario316
    @louisrosario316 15 годин тому

    110% correct

  • @2005Pilot
    @2005Pilot 16 годин тому

    This man has some serious knowledge. He’s done his homework and more! 😊👍👍

  • @1228sda
    @1228sda 16 годин тому

    I know you are a tax strategist. Does your firm actually do taxes?

  • @Falcon8856
    @Falcon8856 16 годин тому

    Super useful to be able to look into actual entity structures used by wealthy individuals! Explanations were also very helpful!

  • @mahoganygipson248
    @mahoganygipson248 17 годин тому

    This was incredibly informative! Please post a video on personal family foundation!

  • @artpuente3401
    @artpuente3401 17 годин тому

    As a tax professional I don't see how he's going to get around calling that payroll you have to pay payroll taxes

  • @Smileyb8711
    @Smileyb8711 18 годин тому

    The same tips apply if we want to hire our husband, right? So the video is for hiring your spouse. Very educational video.

  • @seagoddess524
    @seagoddess524 18 годин тому

    I was in Tax Court in Maryland years ago. There were two cases were the defendants were deceased. The judge only threw out one of the cases.😮 Everybody felt bad for the other dead guy who could not escape tax court. Even though he was already dead.😢 Damn.

  • @Evangelionism
    @Evangelionism 18 годин тому

    I've always thought to opt for the following, very similar structure: > *Operating Company:* provides the commercial goods/services and is held as an asset by Holding Company, who owns and leases its equipment/capital to it under license. > *Contractor Company:* solely responsible for staff recruitment and development: hiring, training, and leasing out its own employees and contractors to the Operating Company and does not own too many assets besides the contracts and a bunch of other material assets. AKA 1099'ing out its staff to the main company for a fee. The role of this company is to certify staff. > *Holding Company:* owns the major assets to be leasted out to its subsidiaries: Operating Co. and Contracting Co., isolating relevant assets from liability. After having watched Carlton's video, I think I may make slight changes: for one, the Holding Company may instead function as an administrator of a trust that itself holds the material assets and distributes them to the equitable use of the Operating Company, but I am umsure such a structure is appropriate given the close proximity and origins of the Trustee and Beneficiary, who while being two different legal persons, may still be interpreted as collectively one in nature. Anyway, regardless of the trust implementation, I am still researching the advantages and disadvantages of the original structure, as well as real-world examples of businesses who have used it. Any thoughts would be highly appreciated. Thanks!

  • @virtuetaxservicesllc9790
    @virtuetaxservicesllc9790 18 годин тому

    🔥💯

  • @ELconomics101
    @ELconomics101 18 годин тому

    Clutch 🎯

  • @AGpublishingVidz
    @AGpublishingVidz 18 годин тому

    How Shaq rescued his momma from the RatRace.

  • @nurturingwithnature
    @nurturingwithnature 19 годин тому

    This is valuable information. I'm currently working on transferring my family'a businesses to a Trust. Thank you for sharing 🙏🏾

  • @dexcherrington1624
    @dexcherrington1624 19 годин тому

    🦾💯💙🫡

  • @jb6278
    @jb6278 19 годин тому

    Excellent content in this video!! I'm glad you brought up some of these topic. It all begins with self awareness. Thank you.

  • @P.o_interest
    @P.o_interest 19 годин тому

    You are right to an extent but please keep in mind as you know well that we are not taught any of this in school not even by our parents. We need to come on social media to learn things that are not really coming with 100% truth just bits and pieces. And most courses or information requires money like many things do but most of us don't have it. I created an online business to sell t-shirts and and LLC but now I am struggling. It's been 5 years since then and I haven't been able to make $100 yet. The Google analytics has not been working for my business and I had to put it on pause because I need to see what I'm not doing.

  • @RWalker-zi9cb
    @RWalker-zi9cb 20 годин тому

    Great information thank you for sharing.

  • @user-us6sc9yv1e
    @user-us6sc9yv1e 21 годину тому

    Can the short term loophole offset partnership pass through income? Partnership is not with spouse.

  • @josephmoonjely5729
    @josephmoonjely5729 21 годину тому

    Hey Karlton! Could you inform us what to do if you already set up an llc with home address and want to now change it? Or is it not possible?

  • @Panda_J1
    @Panda_J1 22 години тому

    I don’t mind paying taxes to fix our country such as infrastructure, agriculture etc. is the irresponsible spending of the politicians that I’m not ok with. We shouldn’t sending money overseas to other countries when we can’t even fix our own problems. We should also get rid of half of congress. We don’t need 500+ politicians holding a seat barely doing anything but collecting checks and been lobbied.

  • @GrantCardoneInsight
    @GrantCardoneInsight 23 години тому

    💯