Are Owner's Draws Taxable? Common Questions Answered!
1.7 هزار بار بازدید -
2 ماه پیش
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Understanding owner’s distributions and their tax implications is crucial for small business owners. In this video, Hannah addresses some excellent questions from our newsletter subscribers about this topic. Learn how distributions can affect your taxes and clarify common concerns to help you navigate these financial decisions effectively.
In this video you will find:
0:00 - Introduction
0:30 - Tax Implications of Distributions
1:15 - Subscriber Questions: How are distributions taxed?
2:29 - LLCs Taxed as S-Corporations
2:55 - First Question: Excess Distributions and Capital Gains Tax
3:20 - Common Mistakes to Avoid
4:03 - Second Question: Owner's Compensation vs. W-2 Wages
4:42 - Different Entity Types and Taxation
5:45 - Tips for Managing Distributions
6:00 - Sole Proprietors, Partnerships, and S-Corporations
8:29 - Basis Calculation
10:53 - Negative Basis Situations
13:00 - C-Corporations and Double Taxation Explained
To learn more about CFO services for B2B services providers making over $1M in annual revenue, go to: https://claracfo.com/cfo-services/
💲 Need an accounting system? We use Quickbooks Online with clients and recommend it as the best accounting system for small businesses. Sign up to get a discounted subscription for 12 months! https://claracfo.com/QBO
🙋♀Got Employees? Talk to ADP! They can help you if you are a small business owner or an accountant or advisor who works with small businesses. Learn more here: https://claracfo.com/adprun
💸Pay vendors any way they want and get paid faster! Accept credit cards without paying merchant fees! Melio is a fantastic payments solution for every small business! https://claracfo.com/melio
(As an affiliate or referral partner for these companies, I may earn rewards from qualifying purchases)
Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at https://claracfo.com/
Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.
CODE: MB01VY3CWL8S0KM
Understanding owner’s distributions and their tax implications is crucial for small business owners. In this video, Hannah addresses some excellent questions from our newsletter subscribers about this topic. Learn how distributions can affect your taxes and clarify common concerns to help you navigate these financial decisions effectively.
In this video you will find:
0:00 - Introduction
0:30 - Tax Implications of Distributions
1:15 - Subscriber Questions: How are distributions taxed?
2:29 - LLCs Taxed as S-Corporations
2:55 - First Question: Excess Distributions and Capital Gains Tax
3:20 - Common Mistakes to Avoid
4:03 - Second Question: Owner's Compensation vs. W-2 Wages
4:42 - Different Entity Types and Taxation
5:45 - Tips for Managing Distributions
6:00 - Sole Proprietors, Partnerships, and S-Corporations
8:29 - Basis Calculation
10:53 - Negative Basis Situations
13:00 - C-Corporations and Double Taxation Explained
To learn more about CFO services for B2B services providers making over $1M in annual revenue, go to: https://claracfo.com/cfo-services/
💲 Need an accounting system? We use Quickbooks Online with clients and recommend it as the best accounting system for small businesses. Sign up to get a discounted subscription for 12 months! https://claracfo.com/QBO
🙋♀Got Employees? Talk to ADP! They can help you if you are a small business owner or an accountant or advisor who works with small businesses. Learn more here: https://claracfo.com/adprun
💸Pay vendors any way they want and get paid faster! Accept credit cards without paying merchant fees! Melio is a fantastic payments solution for every small business! https://claracfo.com/melio
(As an affiliate or referral partner for these companies, I may earn rewards from qualifying purchases)
Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at https://claracfo.com/
Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.
CODE: MB01VY3CWL8S0KM
2 ماه پیش
در تاریخ 1403/03/24 منتشر شده
است.
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