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Business Entities - Sole Proprietorship

Check out Bas Rutten's Liver Shot on MMA Surge: http://bit.ly/MMASurgeEp1
http://www.mahalo.com/business-entities-sole-proprietorship/

Keith Hall, a registered CPA and small business owner with over 20 years experience is here to help you with your small business questions. In this video, Keith explains the benefits and pitfalls of choosing a sole proprietorship as your business entity.

Check out the rest of our tax videos here:
http://www.youtube.com/view_play_list?p=C90C48F4B15F6911

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How to File Taxes If You Haven't Filed in Years: http://www.mahalo.com/how-to-file-taxes-if-you-havent-filed-in-years
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LLC Vs. Sole Proprietorship Tax Benefits

LLC vs Sole Proprietorship Tax Benefits. What are the Positive and Negatives. Download Expense Tracker App for Free -- http://www.taxorganizer.biz?affId=135911

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Transcription:

0:00 a lot of clients have started their own business a brand new business maybe they
0:03 turn hobby into a business or maybe they they start off on their own as a
0:07 consulting business maybe they have a multi-level marketing business
0:10 and uh... the first thing that i i typically get asked as to how should i
0:13 set my business up for taxes
0:15 and if you don't do anything basically you're going to be a sole proprietor
0:20 which means that that's the default position and that's that uh... if you
0:23 haven't set up a corporation or now i'll see that's what you're going to be left
0:26 with an there's nothing wrong or legally um... illegal about it i guess in the
0:32 sense of using the sole proprietorship is perfectly fine
0:36 uh... the down side is though that you really get no planning and so having an
0:39 l_l_ sierra corporation is going to give you a state planning it's going to give
0:44 you tax planning gonna give you business planning needed you asset protection
0:49 uh... and it's also going to give you a lower audit risk with the i_r_s_
0:53 so for me to to say that you should go ahead and be a sole proprietor when you
0:57 start off is probably not the best legal advice orb or the best tax advice that i
1:01 can give you uh... i think you're much better off going with an entity just
1:06 because you have a lot more planning considerations but this is something
1:09 that you should probably talk to a professional about and find out exactly
1:14 what your options are and which one would be the best for you
1:18 i found the tax organizer apt to be to be very important for a lot of my
1:21 clients it helps them keep their records together keep some organized
1:25 and that's why we're making the tax organizer appa bella before you as a
1:29 free download all you need to do this clip below and try it out for yourself
1:33 have nothing to lose

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Allianz Life - Wikipedia, The Free Encyclopedia
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